Park 570 (VanDyk) - Real Estate -

It should be on a Tarion long form titled "Statement of Critical Dates".

If they delay your tentative occupancy date, you will get a letter in the mail with the 'Final Tentative Occupancy Date'
 
There will be a delay. Letter will be sent in about a week or so. Date will be known in the letter. That's all I know. I hope the delay is tiny. It's getting harder waiting.
 
layla said:
There will be a delay. Letter will be sent in about a week or so. Date will be known in the letter. That's all I know. I hope the delay is tiny. It's getting harder waiting.
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Thanks. Do you know of they're just continuing the delay from a few months ago (as not everyone seems to have gotten a delay notice), or delaying everyone again? If it's the former, people can expect a 6-8 week delay.
 
I went from September 27th to February 13th to April 9th! But I know these things happen, just looking forward to getting in there. Also, this most recent letter says "Final Firm Occupancy Date" as opposed to the previous two which said "Final Tentative Occupancy Date" - Here's hoping that means no more delays!
 
Originally Feb 13, now April 11. Yes, this does state firm occupancy, so if it is delayed past that point, they will have to compensate people, according to the tarion warranty.

I hope the building starts to look a little nicer looking because I am honestly afraid of resale value at this point. I thought Vandyk was supposed to be one of the better builders, but so far....
 
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Thank you asmegin for keeping us all up-to-date with your picture uploads. Thank you for the time you spent.
 
They are asking for nine post-dated cheques to cover the occupancy fees. And they could ask for more. It is written on the contract.
This info is new to me as I haven't read the contract until now.

I am also reading $2500 administration fees, $150 for another fee, $75 another fee, and don't forget taxes too.
I wasn't expecting the above fees.

I know about the land transfer tax.

I haven't gotten a lawyer yet. Can anyone share any new info please?
 
Post-dated cheques for occupancy fees is the norm, although 9 seems like a lot. I guess they're expecting to have the building registered in late 2013, which sucks as rates might go up in the meantime. I hope they're just being cautious and will get it done a lot sooner, and they return a few of them. It's in their best interest to get it done ASAP as well, since they don't get paid until the building is registered (and we get mortgages).

The fee is usually interest on outstanding balance + admin fees + estimated property tax per month. Occupancy fees suck, but no way around them :(

And most buyers in 570 will be first time buyers, so we'll get the Land Transfer Tax back :)
 
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