S
shlammed
Guest
howdy neighbors
firmed up (not incl. 10 day cooling off period)
firmed up (not incl. 10 day cooling off period)
- Thread starter edward.wang
- Start date
TheKingEast
Senior Member
Anyone move in yet? How is it there? How are the amenities? What's the building like and how is the soundproofing between units and above?
S
shlammed
Guest
From what I saw during our tour of the building, many of the amenities are not finished.
The gym was ready but could use more equipment. They're also going to be adding additional services (at an extra cost) like instructor lead classes.
The pool and hot tubs weren't ready. Theatre, ping pong room, bowling alley, etc all still being finished.
Can't comment on noise between units but I do know all structure in between units is concrete.
Even though the gym may look ready, you may not get to use it. The developer has up to 6 months after registration before they have to open up the amenities. We got ours six months to the day Everything looked ready for months. City inspectors have to sign off on everything too.
On the other hand, I've seen buildings that had amenities up and running as soon as people started moving in.
Everything looked ready for months. City inspectors have to sign off on everything too.On the other hand, I've seen buildings that had amenities up and running as soon as people started moving in.
S
shlammed
Guest
Even though the gym may look ready, you may not get to use it. The developer has up to 6 months after registration before they have to open up the amenities. We got ours six months to the day
On the other hand, I've seen buildings that had amenities up and running as soon as people started moving in.
There were people using the gym when we were on our tour.
Everything else was closed and unfinished but not by a lot i.e. the bowling alleys need the kitchenette finished and other touch ups.
Good for them for opening it -- sometimes they wait until everything is ready. Maybe they've learned from past experiences
interested
Senior Member
I suspect because the amenities are mainly in 75 and that those who purchased in 85 will have 75 largely ready the last ones will likely get the amenities.
If you think about it, the developer is busy having his workers/trades doing the condos to get people moved in so he can register the building. The amenities are not immediately required to do this, hence I think the lower priority on them.
If you think about it, the developer is busy having his workers/trades doing the condos to get people moved in so he can register the building. The amenities are not immediately required to do this, hence I think the lower priority on them.
S
shlammed
Guest
Just sent the documents to my lawyer
waiting to find out if I have any surprises coming that I'm not aware of i.e. crazy charges for hydro meter hookups and such
waiting to find out if I have any surprises coming that I'm not aware of i.e. crazy charges for hydro meter hookups and such
interested
Senior Member
Please post if there are crazy charges that you find out. Too late for some of us but my fees from Plazacorp in the past have been reasonable. Hope they will be on this one.
S
shlammed
Guest
What's your definition of "reasonable"
I already know I'm getting raped on Toronto's land transfer tax but I'm concerned about adjustments on closing for things like development charges, education levies, hydro/gas meter hookups, etc. Last thing I need after being raped by the city is being raped twice by the builder.
interested
Senior Member
It was many years ago now but it was about 1% or less total of the purchase price as I recall for everything.(1000-2000 dollars). This is off the top of my head. I would have to research it to be more accurate.
Your lawyer won't be able to argue most of the charges I. The most you will be able to do is get a cap I suspect. But who knows.
Your lawyer won't be able to argue most of the charges I. The most you will be able to do is get a cap I suspect. But who knows.
S
shlammed
Guest
that's reasonable and I totally would expect to pay something like that (above and beyond the land transfer tax). The reason I got worried was because this is my first downtown condo purchase and I just read about having these charges capped...wasn't even aware you could ask for that. So, plan is to get my lawyer to figure it all out before my 10 day cooling off period expires.
interested
Senior Member
Your lawyer will probably put a limit on certain costs of around $2500-$3000. That seems to be the number I hear bantered around these days. Remember when I bought prices were also 60% of present prices. Plazacorp may/may not agree and you will have to decide at that point whether to proceed or not.
Maybe others can help you out or have clauses in their contracts capping. I wasn't smart enough so I pay what they will ask.
Also when I bought, everything was going like hotcakes so bargaining position is weak when 75% of the building sells out in a month!
S
shlammed
Guest
Looks like Plaza Corp has capped the costs themselves at $3500. Seems reasonable for downtown.
According to my lawyer a lot of builders do this now to save time because they know people will come back with their lawyers asking to cap them anyway.
S
shlammed
Guest
so today I noticed rental listings up to the 10th floor of 75 east liberty so I'm assuming this means occupancy is well under way and April registration may hold true if they start occupying 85 soon!