DKB
New Member
Confirmed occupancy date for units on 15th floor is February 29th, 2012
Once again a delayed occupancy date for the 15th floor. Now its mid April.
I m extremly dissapointed with Empire. So far the only letter I recived from them are regarding delays!
I WOULD NEVER BUY AGAIN WITH EMPIRE! STAY AWAY FROM THEM!
That's one of the risks with buying off floor plans. On the other hand it's been almost 2 years since your purchase so it must have increased in value.
both rebuttals are ridiculous.
if developers promised realistic occupancy/completion dates instead of always understating (notice I didn't say 'underestimate') the times, then buyers wouldn't be so frustrated. unfortunately, one should almost add 2 years to every project's deadlines.
what does any increase in values have anything to do with the delays?
any appreciation is on paper and fictional as he doesn't own (ie. have title) it yet, and
if prices went down by the time he occupied, would you still bring up the same argument ?!?
That's one of the risks with buying off floor plans. On the other hand it's been almost 2 years since your purchase so it must have increased in value.
Meh, so have property prices for all already built homes/condos. I took occupancy of my condo just this year which I bought off plan in early 2007. Sure it's 'value' has gone up quite considerably, but so too have all the places which we looked at back in 2007. Unless you plan on selling and perhaps renting, the gains aren't really anything to get excited about IMO. Also consider that I had to put 25% down and received no interest on that money.
Note that I'm not against buying pre-construction (this was in fact my third such condo and I have a house currently being built that's also pre-construction).
You are supposed to receive interest on your deposit....
True, but the rate is set by them from what I'm told.
Indeed ... and there's a clause in the APS which reads something like "where posted interest rate is less than 2%, no interest shall be paid ..."