MarkDv
New Member
Thanks a lot for your reply.
That confirmed my thoughts and understanding.
I’m not sure, though, what did you mean saying
But the main thing I don't understand, why Pinnacle actually decided to take the project over and continue with existing contracts. I mean: how they are expecting to make any money in this project, considering well known significant cost increases of building material and labor.
As I think about it now there are two possibilities/reasons for that. First, if we, at the time of purchase (2018-2019) had paid well over realistic price and if so, then even an increase in condo construction costs will still bring them some profit.
And second, if they consider to make some hidden adjustments in the project (ex.: use of different/cheaper materials or/and simplify some technical details in the construction and/or adjust terms of use after construction is done - with collaboration with management company), so it will cost them less than it was originally anticipated.
The first thing we already cannot change and it is irrelevant to the situation at this point, but the second one contains a real danger for us, purchasers.
I might be very wrong in all these assumptions but this is the best of my thinking so far about why Pinnacle has bought this seemingly dead project.
That confirmed my thoughts and understanding.
I’m not sure, though, what did you mean saying
As I see it, we can wait or not (to sign those Tarion's papers) but the outcome will be the same.
But the main thing I don't understand, why Pinnacle actually decided to take the project over and continue with existing contracts. I mean: how they are expecting to make any money in this project, considering well known significant cost increases of building material and labor.
As I think about it now there are two possibilities/reasons for that. First, if we, at the time of purchase (2018-2019) had paid well over realistic price and if so, then even an increase in condo construction costs will still bring them some profit.
And second, if they consider to make some hidden adjustments in the project (ex.: use of different/cheaper materials or/and simplify some technical details in the construction and/or adjust terms of use after construction is done - with collaboration with management company), so it will cost them less than it was originally anticipated.
The first thing we already cannot change and it is irrelevant to the situation at this point, but the second one contains a real danger for us, purchasers.
I might be very wrong in all these assumptions but this is the best of my thinking so far about why Pinnacle has bought this seemingly dead project.
