Hi guys, it seems like a lot of ppl here leaning towards canceling the project. I just wanna share my experience here. I spoke to my lawyer today, and she said on page8, paragraph 3 or something. We can reach out to them and sign the release form to get the deposit back. Basically, buyers can get money back due to unavoidable delay not because of our default( meaning if we cannot close the unit), and if they are giving you hard time( it looks they are, none of these ppl answer your call), your lawyer can act on it behalf of you to get your money back.
 
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omekakim said:
Hi guys, it seems like a lot of ppl here leaning towards canceling the project. I just wanna share my experience here. I spoke to my lawyer today, and she said on page8, paragraph 3 or something. We can reach out to them and sign the release form to get the deposit back. Basically, buyers can get money back due to unavoidable delay not because of our default( meaning if we cannot close the unit), and if they are giving you hard time( it looks they are, none of these ppl answer your call), your lawyer can act on it behalf of you to get your money back.
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On the contract, the first tentative occupancy date is July 2022 and Greenland must inform buyers the most updated occupancy date 90 days before the tentative occupancy date which means April 2022. 'Notice of delay due to unavoidable situation" on Mar, 2021 is different one. is it correct? If that is the case, should we (all purchasers) claim Tarion or contact lawyers?
 
have you guys tried reaching out to Harris sheaffer llp. Our contract lawyer and trust.
Although no detailed info was disclosed. it seems like the project is not dead. Is really moving forward. And the lawyer was surprised that Greenland did so minimal communication with the purchasers.
 
Hey Bill, did you reach out to them personally? What exactly did you hear from them? Ground reality is that there is excavation done yet.
 
Toronto_Realty said:
Hey Bill, did you reach out to them personally? What exactly did you hear from them? Ground reality is that there is excavation done yet.
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I called their office (found on their website) and the front desk transferred me to the person who was in charge with this project. You can call them too, or anyone in this thread too, you guys may collect different information, please share.

That person (or lawyer) did not disclose any details. But you can find ways to ask questions.
 
sophia0839 said:
On the contract, the first tentative occupancy date is July 2022 and Greenland must inform buyers the most updated occupancy date 90 days before the tentative occupancy date which means April 2022. 'Notice of delay due to unavoidable situation" on Mar, 2021 is different one. is it correct? If that is the case, should we (all purchasers) claim Tarion or contact lawyers?
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More likely, they will keep mentioning "unavoidable delay". I think it is reasonable to ask for a lawyer's advice at this point. I spoke to Greenland yesterday saying that "the project is still ongoing therefore we cannot return your deposit" However, the contract says, July 2022 is supposed to be our tentative occupancy date, and they should update us with more firm answer, not another delay blah blah.

I wish that they continue with the project. Doesn't matter how long it takes as long as they can confirm it will be built for sure then I won't complain. But the one thing I will be very upset with

Holding our deposit to get away from the default or to borrow more money to get away from their current issue: this will be wasting our time(and money.)

Also, the current situation is not good, meaning the current market is very volatile.

1. FOMC announces another inflation may skyrocketing due to Russian oil ban
2. However, inflation needs to be calmed down, so banks will more likely raise the rate, and this is happening
3. Oil going up, gas going up, lumbar going up, war is going on and sanctions are being placed against Russia and China some
4. Supply issue due to covid in worldwide.

I work in the financial industry, so I get the news pretty fast...however, the current situation is not good for us. If Greenland will still finish this project, it will be amazing, but the reality is I don't think so and I hope I am wrong.

p.s. Just got US FOMC meeting minutes report: they announce to trim balance sheet by $95 billion a month...wow
 
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omekakim said:
More likely, they will keep mentioning "unavoidable delay". I think it is reasonable to ask for a lawyer's advice at this point. I spoke to Greenland yesterday saying that "the project is still ongoing therefore we cannot return your deposit" However, the contract says, July 2022 is supposed to be our tentative occupancy date, and they should update us with more firm answer, not another delay blah blah.

I wish that they continue with the project. Doesn't matter how long it takes as long as they can confirm it will be built for sure then I won't complain. But the one thing I will be very upset with

Holding our deposit to get away from the default or to borrow more money to get away from their current issue: this will be wasting our time(and money.)

Also, the current situation is not good, meaning the current market is very volatile.

1. FOMC announces another inflation may skyrocketing due to Russian oil ban
2. However, inflation needs to be calmed down, so banks will more likely raise the rate, and this is happening
3. Oil going up, gas going up, lumbar going up, war is going on and sanctions are being placed against Russia and China some
4. Supply issue due to covid in worldwide.

I work in the financial industry, so I get the news pretty fast...however, the current situation is not good for us. If Greenland will still finish this project, it will be amazing, but the reality is I don't think so and I hope I am wrong.

p.s. Just got US FOMC meeting minutes report: they announce to trim balance sheet by $95 billion a month...wow
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If they do move forward, it's a safe bet that they'll be cutting a lot of corners, and we already know the extensive issues coming from their first condo project in the city (King Blue). It actually might be a good thing that they don't move forward.....
 
I made enquiry, and this is how they responded to me>"Please note Lakeside project is still in progress. Unfortunately we don’t have additional details regarding construction status available at the moment."
More or less same answer for the lat 18 months.-:(((
 
skywalker said:
I made enquiry, and this is how they responded to me>"Please note Lakeside project is still in progress. Unfortunately we don’t have additional details regarding construction status available at the moment."
More or less same answer for the lat 18 months.-:(((
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I received the exact same response today. 🤕
 
We are in canada not US. The Canadian market size is much smaller, undiversified and more sensitive than the US market.
I Cannot open the link. But saw it somewhere else. I just hope they don’t do this.
 
I made an enquiry, and this is how they responded to me,"Please note Lakeside project is still in progress. Unfortunately we don’t have more details at present regarding the construction status.
More or less the same answer for the last 18 months.
I wonder if we, as collective buyers can take any legal actions to get information on the true status, what's really going on. They ought to have legal obligation to provide proper status report and the reasons for the delay. Then we can make appropriate descisions on how we move forward with our fianances and life.
 
skywalker said:
I made an enquiry, and this is how they responded to me,"Please note Lakeside project is still in progress. Unfortunately we don’t have more details at present regarding the construction status.
More or less the same answer for the last 18 months.
I wonder if we, as collective buyers can take any legal actions to get information on the true status, what's really going on. They ought to have legal obligation to provide proper status report and the reasons for the delay. Then we can make appropriate descisions on how we move forward with our fianances and life.
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We can hire another lawyer in Harris sheaffer llp and seek for some advice
 
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