Real Estate

Strata could be liquidating

  • Last Updated:
  • Aug 10th, 2021 11:19 pm
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[OP]
Deal Addict
Aug 16, 2015
1136 posts
469 upvotes

Strata could be liquidating

The offer from the developer is decent but not that amazing considering how much the market has increased and how low the inventory is.

https://nie.postmedia.com/article/28948 ... d4lrHvUQGA

We are in the same situation. the developer money is not necessarily enough for everyone to buy back into the neighbourhood. But if we don't sell we are facing massive levies. we all just were hit with a 6k levy with more to come. the strata fees are already in the stratosphere (500 monthly) just to keep the lights on. insurance is through the roof and only 1 company even wants to insure the building.

I saw in the article that mentioned concessions from the city. does anyone know how our strata would go about getting any?
2 replies
Deal Addict
Jun 28, 2018
1031 posts
788 upvotes
Toronto
I hope things turn out well for you and all.

Thanks for the article. I have been wondering about this what do older buildings do, such as do developers buy up the entire building tear down and rebuild? What offers for existing owners. How does the building go about putting the entirety up on the market etc. Though it all makes me paranoid? in some ways...
The Distracted Investor

Dividends through quality companies 😃 Though I usually lose money with trades :facepalm:
Deal Addict
Jan 15, 2010
1509 posts
1835 upvotes
Toronto
$500 a month fees is through the roof? That's the norm in Toronto.

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