Emerald City Condos (ELAD Canada) - Real Estate -

Hi maestro, usually how buyers deal with this? Just accept the changes or are there any other alternatives?
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They are allowed to make quite a few changes without your permission. However, there does come a point where the changes void the contract and you can either take your money elsewhere or buy another unit. (in which case they will do everything to encourage you to buy another unit)
 
maestro said:
They are allowed to make quite a few changes without your permission. However, there does come a point where the changes void the contract and you can either take your money elsewhere or buy another unit. (in which case they will do everything to encourage you to buy another unit)
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on what point a buyer can take his money away and cancel the contract? I think it will be almost impossible.
 
maestro said:
They are allowed to make quite a few changes without your permission. However, there does come a point where the changes void the contract and you can either take your money elsewhere or buy another unit. (in which case they will do everything to encourage you to buy another unit)
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What I am thinking is that if they change the layout, would it affect the overall size of the unit and whether I can keep my current price per sq ft. If I can't, then it is just another way of raising the price which I believe is not fair to me.
 
Went to the sales office and talked to Monica today. She said she is not allowed to sell Daffodil now because there will be a change to the interior layout. However, the already sold Daffodil units layout will not be changed because of the number of unit sold is pretty high (about 1/3). She emphasized that only interior layout of the unsold units will be changed, but the overall area of the unit will remain the same.
 
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probey said:
Went to the sales office and talked to Monica today. She said she is not allowed to sell Daffodil now because there will be a change to the interior layout. However, the already sold Daffodil units layout will not be changed because of the number of unit sold is pretty high (about 1/3). She emphasized that only interior layout of the unsold units will be changed, but the overall area of the unit will remain the same.
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that's a good news. I hope you are happy. Did you get something in writing for it? If I was you, I would get one just to protect yourself.
 
newbuyer said:
that's a good news. I hope you are happy. Did you get something in writing for it? If I was you, I would get one just to protect yourself.
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No, I just dropped by during lunch hour, it was pretty rush. But the visit did make me feel a lot better.

For the HST, I found this article online, although additional changes are being proposed, but I still hope this can clarify things up a bit. Of course, professionals like lawyer will know this more clearly.

http://muddyyork.com/2009/07/09/hst-harmonized-sales-tax-simplified/
 
probey said:
No, I just dropped by during lunch hour, it was pretty rush. But the visit did make me feel a lot better.

For the HST, I found this article online, although additional changes are being proposed, but I still hope this can clarify things up a bit. Of course, professionals like lawyer will know this more clearly.

http://muddyyork.com/2009/07/09/hst-harmonized-sales-tax-simplified/
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You know what, if they plan to give you 75% rebate on the 8%, why would they even ask people to pay it first? They could simply just charge them 2% only. That's it! It's just creating more paper work for them, and for the public. More paper work means more work thus more expenses. And then, they are going to make another excuses to raise taxes because they need to hire more people to handle the paper work. F*** them all the way up! If Dalton still ask people who buy new property to pay tax up front first, I'll make sure that my vote is going for someone else on the next election.
I don't understand why they don't plan to charge HST for re-sale home as well. He should know that new homes create businesses and new employments. Just watch the new housing market go down, construction companies lay off workers, and etc. Who's going to buy a new property if they can buy a re-sale home without paying 8% extra? I would rather to spend my money on re-sale that is for sure. Instead of thinking of raising taxes here and there, Dalton should use his brain to deal with matters such as the city strikes. In my life, I have never seen city worker strike as big as the ones in Toronto. Someone needs to be fired that is for sure for not doing the job right.

At the end of my frustation, I hope they will be SMART and WISE enough to completely exempt any new home purchases under $400k. If they still go for the retarded rebate system, Ontarians will be in big trouble. We need to start un-elect the retards in the office, and replace them with the sensible ones. GOD help us.

Thank you for the link Probey.
 
probey said:
No, I just dropped by during lunch hour, it was pretty rush. But the visit did make me feel a lot better.

For the HST, I found this article online, although additional changes are being proposed, but I still hope this can clarify things up a bit. Of course, professionals like lawyer will know this more clearly.

http://muddyyork.com/2009/07/09/hst-harmonized-sales-tax-simplified/
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Hi Probey,

Did you get a $15,000 credit on your purchase? If you did, could you tell what the exact sentence they put on the amendment which explain the credit?
I want to know whether they use the same sentence on me and everyone else. I appreciate if you could do me the favor.
 
The reason I asked is because my lawyer is making big deal out of the way the clause being inserted in my amendment. Please let me know what you have so I can share you what my lawyer thinks about it.
 
newbuyer said:
The reason I asked is because my lawyer is making big deal out of the way the clause being inserted in my amendment. Please let me know what you have so I can share you what my lawyer thinks about it.
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Hi newbuyer,

Already replied you, please see PM.

Good luck :)
 
probey said:
Hi newbuyer,

Already replied you, please see PM.

Good luck :)
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Did you get the $5000 off the purchase upon signing or are they you going to give it to you on closing?

They will give it to me on closing $15,000 credit. The reason being is they said they don't advertise the credit to everybody else.

Only, my amendement says:
The purchaser will recieve a credit in the amount of $15,000 on the closing date provided that the purchaser is not, and has not been, in default under this agreement, and further provided that the purchaser completes the purchase on the closing date in accordance with the terms of this agreement.

My lawyer said why they have to put conditions on the credit offer. He also said the word "default" is not clear. It can be anything such as NSF, don't show for inspection, and etc. What do you guys thinks? Any other lawyer here?
 
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newbuyer said:
Did you get the $5000 off the purchase upon signing or are they you going to give it to you on closing?

They will give it to me on closing $15,000 credit. The reason being is they said they don't advertise the credit to everybody else.

Only my amendement is says:
The purchaser will recieve a credit in the amount of $15,000 on the closing date provided that the purchaser is not, and has not been, in default under this agreement, and further provided that the purchaser completes the purchase on the closing date in accordance with the terms of this agreement.

My lawyer said why they have to put conditions on the credit offer. He also said the word "default" is not clear. It can be anything such as NSF, don't show for inspection, and etc. What do you guys thinks? Any other lawyer here?
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It is $5000 off listed price upon signing and I don't have to wait until closing to get that $5000.

Is it a common practice giving out credits after closing? Can some expert shed some light on this?
 
I hate to reign in on this little party, but could you guys continue this over PM as probey has suggested? Or a new thread in the dreaded Real Estate section?
 
Actually I had no problems with newbuyer and probey's exchanges as I learned a few things I was not aware of before, but it's up to them if they want to take it privately.

Anyway, what is this $5000 credit? This is news to me. The $15000 credit "upon closing" was something they also mentioned to me although....every other places I've been to with discounts rebates were taken right off in the beginning instead. Basically you're just paying a larger 25% deposit at Emerald.
 
animatrix said:
Actually I had no problems with newbuyer and probey's exchanges as I learned a few things I was not aware of before, but it's up to them if they want to take it privately.

Anyway, what is this $5000 credit? This is news to me. The $15000 credit "upon closing" was something they also mentioned to me although....every other places I've been to with discounts rebates were taken right off in the beginning instead. Basically you're just paying a larger 25% deposit at Emerald.
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According to Probey, the $5000 credit was given upon early time where they had the Grand opening.

They said they are not advertising the $15,000 credit, because they are not doing it "officially" or not part of their official marketing. What do you mean by 25% downpayment?
No, it's not. It's 20%. Unless, they changed the rules recently. As far as I know it is 20% in 4 installments.
 
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