jbaa1 said:
From law firm holding deposits:

“The situation is fluid and until there is some resolution and we receive information on how the project is proceeding we cannot comment except to advise that the Purchaser’s deposits are secure.”

They sent this yesterday.
Click to expand...
Once they receive notice from KSV that project is sold then they will contact us with deposits!! and if new builders offer us new deal which would be case it will be new prices , deposits structure etc.. new contract etc
 
Deanfeb said:
Once they receive notice from KSV that project is sold then they will contact us with deposits!! and if new builders offer us new deal which would be case it will be new prices , deposits structure etc.. new contract etc
Click to expand...
Do you think we can get our deposits soon? Like within 3 months?
 
Deanfeb said:
Once they receive notice from KSV that project is sold then they will contact us with deposits!! and if new builders offer us new deal which would be case it will be new prices , deposits structure etc.. new contract etc
Click to expand...
Man I really hope new builder can offer somewhat decent prices that we can really consider …
 
jbaa1 said:
Man I really hope new builder can offer somewhat decent prices that we can really consider …
Click to expand...
Will be todays prices.. our project is a steal.. all the foundation already done including 5 buildings easy cash for builder to make..
 
I am wondering how could they do business after this. It seems all of their projects are under receivership now. Even if they get millions after this. How could anyone trust these scammers. Simple search in google now fetch all the history about these guys (including reddit, news, etc. ). would they change the name and start doing their scamming business? I am just curious.

If you take other builders, they may have cancelled any one of their project or it would be a small builder who had only 1 or 2 projects. but here it is like 4 or 5 projects most of all are high-rise.
 
SRAMP said:
I am wondering how could they do business after this. It seems all of their projects are under receivership now. Even if they get millions after this. How could anyone trust these scammers. Simple search in google now fetch all the history about these guys (including reddit, news, etc. ). would they change the name and start doing their scamming business? I am just curious.

If you take other builders, they may have cancelled any one of their project or it would be a small builder who had only 1 or 2 projects. but here it is like 4 or 5 projects most of all are high-rise.
Click to expand...

I guess this is what the class actions will be for, put them out of business for good after they lose millions.
 
SRAMP said:
I am wondering how could they do business after this. It seems all of their projects are under receivership now. Even if they get millions after this. How could anyone trust these scammers. Simple search in google now fetch all the history about these guys (including reddit, news, etc. ). would they change the name and start doing their scamming business? I am just curious.

If you take other builders, they may have cancelled any one of their project or it would be a small builder who had only 1 or 2 projects. but here it is like 4 or 5 projects most of all are high-rise.
Click to expand...
They probably won’t start again, after all the millions they took and projects not completed..probably just retire.. question is where all the cash went on loans mrtgs they got and no work done..
 
Deanfeb said:
They probably won’t start again, after all the millions they took and projects not completed..probably just retire.. question is where all the cash went on loans mrtgs they got and no work done..
Click to expand...
wow. That's so much monies. I didn't think in this perspective. They scammed millions from mortgage and now they would receive millions from receivership. MFs have scammed everyone.

When I had last call with Dominick in the month of Aug, I guess. We had argument. I was asking questions regarding rumors on their financial hardship. He told that don't blame their organization with baseless accusations, otherwise they would contact me with their lawyers. When it went too far and he could not answer. finally to stop me he told me that 'My dear Friend, the project is getting delayed. Buy you would get super rich once you get your home in near future' (nonverbatim). I got frustrated and hung up the phone. All the way he knows, their projects are not gonna happen. He lied till the last moment.
 
SRAMP said:
wow. That's so much monies. I didn't think in this perspective. They scammed millions from mortgage and now they would receive millions from receivership. MFs have scammed everyone.

When I had last call with Dominick in the month of Aug, I guess. We had argument. I was asking questions regarding rumors on their financial hardship. He told that don't blame their organization with baseless accusations, otherwise they would contact me with their lawyers. When it went too far and he could not answer. finally to stop me he told me that 'My dear Friend, the project is getting delayed. Buy you would get super rich once you get your home in near future' (nonverbatim). I got frustrated and hung up the phone. All the way he knows, their projects are not gonna happen. He lied till the last moment.
Click to expand...

They’ll get sued by vendors, lenders, and buyers. This receivership isn’t the last of what’s coming to them. It’s just the beginning. The lawyers will trace funds into their other businesses, bank accounts, and personal accounts or assets. They’ll get liquidated to pay the lawsuits.
 
jbaa1 said:
They’ll get sued by vendors, lenders, and buyers. This receivership isn’t the last of what’s coming to them. It’s just the beginning. The lawyers will trace funds into their other businesses, bank accounts, and personal accounts or assets. They’ll get liquidated to pay the lawsuits.
Click to expand...
Now to Jan 31 gives enough time to move funds to offshore and walkway
 
jbaa1 said:
They’ll get sued by vendors, lenders, and buyers. This receivership isn’t the last of what’s coming to them. It’s just the beginning. The lawyers will trace funds into their other businesses, bank accounts, and personal accounts or assets. They’ll get liquidated to pay the lawsuits.
Click to expand...
He already knew what was going to happen, already sold house,plane, etc..the Crane still there onsite is own by Dorr , guess they will continue the project once new owners takes over..Thats how these builders roll, there is no municipal laws protecting buyers..its all calculated and planned out in advance to cover all loop holes if they cannot complete projects..those buyers on the other Uptown Townhouses project that vandyk was selling last few months will be at loss with deposits cuz those were freehold and semi’s..
 
Deanfeb said:
He already knew what was going to happen, already sold house,plane, etc..the Crane still there onsite is own by Dorr , guess they will continue the project once new owners takes over..Thats how these builders roll, there is no municipal laws protecting buyers..its all calculated and planned out in advance to cover all loop holes if they cannot complete projects..those buyers on the other Uptown Townhouses project that vandyk was selling last few months will be at loss with deposits cuz those were freehold and semi’s..
Click to expand...
Insane…
 
gquest said:
Are there first-time home buyers here? Considering how the market has changed significantly since 2017/2018/2019, what are your plans?
Click to expand...
FTHB here, going to scrape together whatever I get back along with my current savings and try to get an existing property. Will probably be older and smaller but at this point I'm not entering 2025 without a house to my name lol. Sucks that I would have saved money from other purchases I made between 2018 and now had I known this would be the situation. You live and you learn I guess, everything happens for a reason.
 
You must log in or register to post here.

Back
Top