Real Estate

At least this won't happen here...

  • Last Updated:
  • Jul 4th, 2021 12:20 pm
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7 replies
Jul 4th, 2021 12:20 am
DeletedMemories
Deal Addict
Dec 22, 2007
1577 posts
1187 upvotes
Mississauga

Jul 4th, 2021 12:20 am

its worse here.. builder cancels subdivision under company a1 returns deposit. two weeks later company a2 starts selling the same units.
Jul 4th, 2021 12:26 am
JayLove06
Deal Expert
Feb 29, 2008
20773 posts
20054 upvotes
Tarrana & The Ri…

Jul 4th, 2021 12:26 am

I saw a thread here where the builder asked for more money at closing.....
+1
Jul 4th, 2021 9:45 am
licenced
Deal Fanatic
Jul 3, 2011
6517 posts
3796 upvotes
Thornhill

Jul 4th, 2021 9:45 am

The biggest news here is that the property sold in open bidding.
Jul 4th, 2021 10:22 am
William W
Deal Addict
Nov 26, 2004
4084 posts
3407 upvotes

Jul 4th, 2021 10:22 am

Out in Alberta, in the last couple of months, some of the builders there has started inserting "Escalation Clause" in the Purchase and Sales Agreement. Essentially, this escalation clause allow builders to legally do what you have describe in the article, meaning increasing the price even after the deal turns firm.
+1
Jul 4th, 2021 10:27 am
JayLove06
Deal Expert
Feb 29, 2008
20773 posts
20054 upvotes
Tarrana & The Ri…

Jul 4th, 2021 10:27 am

William W wrote: ↑ Out in Alberta, in the last couple of months, some of the builders there has started inserting "Escalation Clause" in the Purchase and Sales Agreement. Essentially, this escalation clause allow builders to legally do what you have describe in the article, meaning increasing the price even after the deal turns firm.
Hilarious. I have seen a lot of “blame it on COVID” from builders. Shameful.
Jul 4th, 2021 12:20 pm
RichmondCA
Deal Addict
Mar 2, 2017
3623 posts
7099 upvotes
Toronto/Markham

Jul 4th, 2021 12:20 pm

force majeure
RE Broker
+1

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