SRAMP said:
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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They can take longer than occupancy. They will just be liable for penalty payments to buyers. As well, buyers can exit the agreement.

Alternatively they may ask buyers to sign agreed extension on the April 2025 date for the interest of completing the project and maximizing gains for all stakeholders. Buyers would likely agree if they knew current agreements remained the same and the project was completing.
 
jbaa1 said:
They can take longer than occupancy. They will just be liable for penalty payments to buyers. As well, buyers can exit the agreement.

Alternatively they may ask buyers to sign agreed extension on the April 2025 date for the interest of completing the project and maximizing gains for all stakeholders. Buyers would likely agree if they knew current agreements remained the same and the project was completing.
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so many assumptions and speculations. Let's wait and see.
 
jbaa1 said:
Nov 2017 - 570k oasis, 330k patio end
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Oasis will easily sell for $670k to $720k in the crazy market. Was selling for $850k during the peak.

I speculate they'll ask for $50k to $70k more across all floorplan. This will be slightly below market rate just to make is enticing to current buyers.
 
gquest said:
Oasis will easily sell for $670k to $720k in the crazy market. Was selling for $850k during the peak.

I speculate they'll ask for $50k to $70k more across all floorplan. This will be slightly below market rate just to make is enticing to current buyers.
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What did the 2018 (or later) buyers pay for Oasis?

I have heard many prices across the board for the various units.
 
gquest said:
Oasis will easily sell for $670k to $720k in the crazy market. Was selling for $850k during the peak.

I speculate they'll ask for $50k to $70k more across all floorplan. This will be slightly below market rate just to make is enticing to current buyers.
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Say for $60k more per unit on average, do you think it's worth it to cancel all the agreements and start the whole thing again from scratch, as well add another 2-3 years to the process?

This is kind of what I'm thinking about with regards to cost v benefit of completing as is v starting again.
 
jbaa1 said:
Say for $60k more per unit on average, do you think it's worth it to cancel all the agreements and start the whole thing again from scratch, as well add another 2-3 years to the process?

This is kind of what I'm thinking about with regards to cost v benefit of completing as is v starting again.
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I don't think KSV will delay much if they choose to proceed. They'll definitely ask for a bit over a year extension from April 2025 to October 2026. A new contract will be signed. They'll make it reasonable enough so that folks will consider staying.
 
gquest said:
I don't think KSV will delay much if they choose to proceed. They'll definitely ask for a bit over a year extension from April 2025 to October 2026. A new contract will be signed. They'll make it reasonable enough so that folks will consider staying.
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If a large enough amount of people disagree to the extension and new price, they risk jeopardizing the whole project and will have to scrap it, and start from new. From what I gather, so many people are turned off and frustrated and will take their deposit and walk away at the earliest opportunity.

I personally know two other buyers who have moved on and once they can cancel, will take their deposits. I probably will walk away with my deposits at the first opportunity.
 
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jbaa1 said:
If a large enough amount of people disagree to the extension and new price, they risk jeopardizing the whole project and will have to scrap it, and start from new. From what I gather, so many people are turned off and frustrated and will take their deposit and walk away at the earliest opportunity.

I personally know two other buyers who have moved on and once they can cancel, will take their deposits. I probably will walk away with my deposits at the first opportunity.
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Yeah, lot of people will walk away and rather take their deposit considering the changes in policy...flippers tax, higher interest rate, etc. The profit won't worth it except you're a deep pocket investor and can wait it out for rental income.

Lot of FTHB moved on already. Only few left.
 
gquest said:
Yeah, lot of people will walk away and rather take their deposit considering the changes in policy...flippers tax, higher interest rate, etc. The profit won't worth it except you're a deep pocket investor and can wait it out for rental income.

Lot of FTHB moved on already. Only few left.
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Yes in that case the project will be void. KSV may decide the best route is to just take the money they know they have on the table and finish up quickly.

As opposed to adding another 2~3 years in lost timd and opening a whole can of new costs and new work.

I just can't see the additional revenue being so high that it is worth the additional expenses and additional time. I can see the receiver and lenders just wanting to see the project finish up quickly and get paid asap.
 
jbaa1 said:
Yes in that case the project will be void. KSV may decide the best route is to just take the money they know they have on the table and finish up quickly.

As opposed to adding another 2~3 years in lost timd and opening a whole can of new costs and new work.

I just can't see the additional revenue being so high that it is worth the additional expenses and additional time. I can see the receiver and lenders just wanting to see the project finish up quickly and get paid asap.
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I am one will tske my cash the earliest !!
 
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