ruru123456 said:
Well not really expected especially for lakeview since construction has not started at all. If they request more money and you refuse, they have to give you the option to get your deposit back.
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I meant specifically for Uptowns, construction is already about ~30%, completion was expected. Now, will the receiver (KSV) be the one handling construction arrangements?
 
random said:
What are the chances prices remain relatively the same? That’s the big question
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How much more could they really ask? The market isn’t great, interest rates are still high.

Also there’s a lot of cost associated with cancelling, legal fees, advertising a new project, paying agents, new permits, reopening the sales office, doing up new agreements, finding buyers, and all of the time associated with this.

It is possible they just decide to keep everything as is and finish up as soon as possible, and monetize the project.
 
jbaa1 said:
How much more could they really ask? The market isn’t great, interest rates are still high.

Also there’s a lot of cost associated with cancelling, legal fees, advertising a new project, paying agents, new permits, reopening the sales office, doing up new agreements, finding buyers, and all of the time associated with this.

It is possible they just decide to keep everything as is and finish up as soon as possible, and monetize the project.
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I agree, similar towns going for around the same.
 
jbaa1 said:
How much more could they really ask? The market isn’t great, interest rates are still high.

Also there’s a lot of cost associated with cancelling, legal fees, advertising a new project, paying agents, new permits, reopening the sales office, doing up new agreements, finding buyers, and all of the time associated with this.

It is possible they just decide to keep everything as is and finish up as soon as possible, and monetize the project.
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Great thoughts! Well lets hope so.
ruru123456 said:
came here to post this update as well!
View attachment 556982
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guess they will need to return to court for approvals?
 
jbaa1 said:
How much more could they really ask? The market isn’t great, interest rates are still high.

Also there’s a lot of cost associated with cancelling, legal fees, advertising a new project, paying agents, new permits, reopening the sales office, doing up new agreements, finding buyers, and all of the time associated with this.

It is possible they just decide to keep everything as is and finish up as soon as possible, and monetize the project.
Click to expand...
Problem is if it is new contract, it would be new occupancy dates. Let's assume occupancy date would be another 4 years from 2024 i.e. 2028. They will set 2028 price not current price. But all are just speculations. Lets wait and see.

Also, I think everyone knows about Raven. Vandyk bought Raven from some other builder, as far as I know, they didn't consider buyers old contract. So, let's assume, if some one just switched to Vandyk's contract. Think about their situation. It is square one for them. Let's hope, out project will not end like Raven

Another story on receivership. check about Lisgar condos, those buildings are so poor, it is difficult to insure the condo units.

I am not saying to get out of contract. we need to think twice before accepting the contract. If they ask 2028 price why we need to accept the contract. We can get the money and invest some other pre construction right.? Just my two cents.
 
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SRAMP said:
Problem is if it is new contract, it would be new occupancy dates. Let's assume occupancy date would be another 4 years from 2024 i.e. 2028. They will set 2028 price not current price. But all are just speculations. Let’s wait and see.
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I think t CD
SRAMP said:
Problem is if it is new contract, it would be new occupancy dates. Let's assume occupancy date would be another 4 years from 2024 i.e. 2028. They will set 2028 price not current price. But all are just speculations. Lets wait and see.

Also, I think everyone knows about Raven. Vandyk bought Raven from some other builder, as far as I know, they didn't consider buyers old contract. So, let's assume, if some one just switched to Vandyk's contract. Think about their situation. It is square one for them. Let's hope, out project will not end like Raven

Another story on receivership. check about Lisgar condos, those buildings are so poor, it is difficult to insure the condo units.

I am not saying to get out of contract. we need to think twice before accepting the contract. If they ask 2028 price why we need to accept the contract. We can get the money and invest some other pre construction right.? Just my two cents.
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Trudeau just implemented new tax laws that will suppress housing prices, plus their housing strategy. Market is going to be bad for a couple of years still. I don’t see much market gains to be had, it will be tough to sell pre construction. Everybody knows now that pre construction is a bad investment, people don’t have the sentiment toward pre con as they did 2019 and earlier.
 
SRAMP said:
Problem is if it is new contract, it would be new occupancy dates. Let's assume occupancy date would be another 4 years from 2024 i.e. 2028. They will set 2028 price not current price. But all are just speculations. Lets wait and see.

Also, I think everyone knows about Raven. Vandyk bought Raven from some other builder, as far as I know, they didn't consider buyers old contract. So, let's assume, if some one just switched to Vandyk's contract. Think about their situation. It is square one for them. Let's hope, out project will not end like Raven

Another story on receivership. check about Lisgar condos, those buildings are so poor, it is difficult to insure the condo units.

I am not saying to get out of contract. we need to think twice before accepting the contract. If they ask 2028 price why we need to accept the contract. We can get the money and invest some other pre construction right.? Just my two cents.
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Not me! I just my cash out of this project!
 
jbaa1 said:
I think t CD

Trudeau just implemented new tax laws that will suppress housing prices, plus their housing strategy. Market is going to be bad for a couple of years still. I don’t see much market gains to be had, it will be tough to sell pre construction. Everybody knows now that pre construction is a bad investment, people don’t have the sentiment toward pre con as they did 2019 and earlier.
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Trudeau laws is just bs, aint goin nowhere just elections promise bs.. Prov and municipalities control the real rule of law for housing!
 
SRAMP said:
Problem is if it is new contract, it would be new occupancy dates. Let's assume occupancy date would be another 4 years from 2024 i.e. 2028. They will set 2028 price not current price. But all are just speculations. Lets wait and see.

Also, I think everyone knows about Raven. Vandyk bought Raven from some other builder, as far as I know, they didn't consider buyers old contract. So, let's assume, if some one just switched to Vandyk's contract. Think about their situation. It is square one for them. Let's hope, out project will not end like Raven

Another story on receivership. check about Lisgar condos, those buildings are so poor, it is difficult to insure the condo units.

I am not saying to get out of contract. we need to think twice before accepting the contract. If they ask 2028 price why we need to accept the contract. We can get the money and invest some other pre construction right.? Just my two cents.
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UPtowns - if they do up new contracts, what is the upside potential? $35 million, $40 million? Prices of current pre con isn’t that high, and builders are having to offer all sorts of discounts and incentives to sell.

Now what is the cost of time, expenses, opportunity cost of going through that whole thing. Currently they have agreements with committed buyers and deposits, and 30% work done. They may very well just want to proceed and monetize closing next year, to get the fast gains and get their money out.
 
Deanfeb said:
Trudeau laws is just bs, aint goin nowhere just elections promise bs.. Prov and municipalities control the real rule of law for housing!
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Inclusion rate , interest rates , immigration house purchasing restrictions .. all impact the market
 
Anyone have an update for Highgrove? The financing condition in our contract is April 14, that day has come and gone yet we have heard 0 from either vandyk or their lawyer.
 
jbaa1 said:
UPtowns - if they do up new contracts, what is the upside potential? $35 million, $40 million? Prices of current pre con isn’t that high, and builders are having to offer all sorts of discounts and incentives to sell.

Now what is the cost of time, expenses, opportunity cost of going through that whole thing. Currently they have agreements with committed buyers and deposits, and 30% work done. They may very well just want to proceed and monetize closing next year, to get the fast gains and get their money out.
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to maintain the current contract, construction processes have to be in full swing by now as we have only 1 year for final occupancy dates. But it is so slow and I feel like they just completed those urgent construction stuff.

I hate these guessing games. Let's hope, we would get an update soon from KSV.
 
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