Deanfeb said:
Exactly!! Plus if u are staying with price increase u will be able to cap fees .. Thats always a loophole that builders use to make extra cash if u dont know!
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If they don’t provide a date change update by July 30, what are rights? Can we auto exit if they can’t provide occupancy by the date stated - October ?
 
Deanfeb said:
Exactly!! Plus if u are staying with price increase u will be able to cap fees .. Thats always a loophole that builders use to make extra cash if u dont know!
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Yes, They are cunning, there will always be loopholes. If there are any amendment in the contract. I am out.

I will only think, if amendment is only for closing date with capped development charge and no increase in price (I dont think, they would accept this). Probability of walking away is more for me.
 
jbaa1 said:
If they don’t provide a date change update by July 30, what are rights? Can we auto exit if they can’t provide occupancy by the date stated - October ?
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If we didnt get update, then Oct 30 would become our final occupancy date. That what contract is saying.
 
SRAMP said:
If we didnt get update, then Oct 30 would become our final occupancy date. That what contract is saying.
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Good thing is April 2025 is the absolute latest we have opportunity to get our deposits. Honestly that alone is a win.
 
Deanfeb said:
d,e,t,q,r.. #6 these i got capped at $6500, also was talking to my lawyer this afternoon, said dont expect a letter from KSV before july30, due to bankruptcy , wont happen and every little detail as deposits returning etc has to be approved by judge, so will be time consuming..
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Deadline for an update is today, otherwise closing date is firm and we get our deposits back for failure to close in October !
 
jbaa1 said:
Deadline for an update is today, otherwise closing date is firm and we get our deposits back for failure to close in October !
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Wont happen but we can call KSV they will say purchase agreement in effect then we can ask for deposits as dates deadline past
 
jbaa1 said:
If they don’t provide an update by today , can we get deposits back in October ?
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Rofl. There may be some exceptions for projects under receivership. I dont know, nothing makes any sense. These contracts are designed to screw buyers only.
 
If I didn't receive any response by today, I would email KSV tomorrow for the final occupancy date and possibility of getting money after October 28. ;)
 
Deanfeb said:
I will try call them Thursday too for deposits but my lawyer says has-to be approved by court too , everything needs go thru court..
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So lame , the deposits are with lawyers in trust / insured .. I don’t see why if they haven’t provided timely communication as per agreement, we can’t retain our rights.

As per their messaging, “purchase agreements remain effect”, which also includes the dates..
 
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