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  • Jul 7th, 2020 12:32 am
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[OP]
Newbie
Mar 26, 2020
5 posts
2 upvotes

[Removed, please delete thread]

[Removed, please delete thread]
Last edited by Super10 on Jul 7th, 2020 6:04 pm, edited 3 times in total.
3 replies
Member
Jan 12, 2008
462 posts
278 upvotes
Just as I thought, builders DGAF about their customers even during a pandemic. Some guy in another thread call me out for not being compassionate towards them during this time. Builders have all the power and we have nothing.
Deal Expert
Feb 29, 2008
19117 posts
17455 upvotes
Tarrana & The Ri…
Maybe the builder was facing financial hardships as well? Just saying
Deal Expert
User avatar
Feb 11, 2009
19367 posts
8011 upvotes
Toronto
OP I'll give you a brief explanation, each builder has specific deposit requirements from the banks depending on what stage of the project they are at. Some can be lenient based on their contractual agreements, where as others literally need the money or they get in to trouble with their financing.

3-6 Month delays in pre construction projects is nothing out of the ordinary even pre-COVID.

Deposit deferral also isn't a normally accepted thing as a result of a delay.

Most builders do make exceptions if they see you're in hard times, but "Delay my deposit cause you delayed the closing" isn't a good reason for them to do so.

Tridel, has made a name for itself and yes you'll get better customer service, and probably more leniencey there but you have to remember, Tridel units are some of the most expensive in the market, you're paying a premium for that premium customer service. They have more funds to back their projects, they've already charged you more than other builders would.

The old saying goes "You get what you paid for".

In my experience, I've seen leniency from builders small and big, but they also don't want people taking advantage of the system. They can't just defer deposits for everyone but if they see justification for it, they typically do it. I've gotten my clients deferrals on various projects small and big.
Realtor - Investment Properties

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