gquest
Active Member
I wish them the best, but I'm just waiting for my deposit cheque
- Thread starter gquest
- Start date
random
New Member
Isn’t market rate like around there??The average cost for uptown was $650k I believe. Most of us bought for lesser. Assuming the $650k multiply by 342 units. That's still not upto the budget.
They'll definitely increase prices close to current market....
gquest
Active Member
Yeah, around $650k to $730k for 2 or 3bed... depending on the size
Deanfeb
Active Member
Look at AdminMarketing $13 M .. guessing planning resale of units
random
New Member
Yeah, okay. I guess any real price change will only apply for people who bought for a lot lower which sucks considering how long they’ve waited.
Deanfeb
Active Member
Me too !! I am just wondering they are contacting us? Does it mean we have to go after them for our deposits ?
gquest
Active Member
No one knows exactly.
My guess is: they'll probably reach out after the court approve the project manager, letting use know that the project is moving ahead and a new manager have been approved. They'll most like state that the purchase agreement is still in force and they'll let us know what next in the nearest future.
By January/February ish, they’ll reach out with the options of either pay more money or get deposit, with a 30days timeline to decide. Deposit will most likely be processed after April 2025. Technically they can hold our deposit as long as the agreement is still in force...until April 2025.
Note that these is my opinion based of few kSV receivership I've been following.
maninder thind
New Member
any guess what will happen with new registration for uptowns? I bought it in April 2023 and paid 100k down but never got a response from anyone.
SRAMP
Active Member
probably they won't change the price. 2023 price would be definitely more than current market price. So, I assume they won't amend the price. But if your outside occupancy date is April 2025, then they would amend the dates.
maninder thind
New Member
that is in 2027 I guess
SRAMP
Active Member
did you register in Uptowns or Heart lake project?
athundo
New Member
579K in 2018 for Oasis 3br rooftop unit - yeaaah I think they're gonna increase my price lol.
maninder thind
New Member
yes for one million and closing in 2026
maninder thind
New Member
Is there any chance I can get my deposit back for the new Uptown registration?
SRAMP
Active Member
If they amend outside occupancy date or price. they would give you option to get out of the contract. For me outside occupancy date is april 2025, so they have to amend the dates for sure.
For your contract, I am not sure.