confused
"If by Dec. and there has not been 50% sold, then the project will dissolve under the current purchase agreement, and everyone will be given their money back. There will be no option it will just happen......"
Hey Rikk and everyone on this post,
I'm sorry to request clarification on the information that has been posted on here. I'm a bit confused as to the contract agreements and dates and I am getting quite frustrated since I am getting no real answers from the builders. This is what I know so far (please correct me if i am wrong)
1) They have pushed their feasibility date from june 2009 to dec 2009 when they will decide if they have enough money to carry through with this project. I spoke to the builders and he told me that they will end up just putting forward another delay to buy them time.
2) Currently, they have told me that the move-in date has been moved to December 2011, although I still haven't received any written documents concerning this date.
3) I just bought my unit in June 2009 and I haven't received any notices of delay so does that mean I need to receive 3 delay letters before I can legally back out of the contract or does the previous delays before my purchase count toward the 3 delays in total?
4) When will the contract dissolve under the purchaser's agreement? december 20__? <--what year?
In a nutshell, I will be sad if they decide not to complete the building but if given the chance, I think that I would back out of the contract. Could someone help clarify all this information for me before I lose my head? haha. Thanks everyone.