Brampton UPtowns at Heart Lake | ?m | 4s | VANDYK

UAI said:
I’m going to be responding to it today
Click to expand...
U can call them for explanations!! Basically they are submitting to CRA your deposits with whatever interests it achieved in case it will be return to you or new developer so CRA get their piece on the intereste if applicable ..
 
  • Like
Reactions: UAI
Deanfeb said:
U can call them for explanations!! Basically they are submitting to CRA your deposits with whatever interests it achieved in case it will be return to you or new developer so CRA get their piece on the intereste if applicable ..
Click to expand...
Sorry, what do you mean by their piece on interest?
 
Hello everyone, I guess I have been totally out of the loop and have not received anything except the last letter from VD.
Experts in Real Estate law here? Who is our Lawyer representing us as purchasers? Has a class action law suit been proceeding? If not, who can we retain? At least this way I will have a peace of mind that I am getting the appropriate information and our potential actions we can take. Thanks.
 
Hi all,
I'm thinking of scheduling meetings with the MPP and MP of Brampton North.
Now that we are heading into spring sessions, it might be difficult for a sit down, except maybe for the Easter holidays or weekends. If I cannot get a sit down, I was wondering if anyone would want to think about social actions - letter writing, rallying at the office?
I would like our elected officials to take some action on this disaster. It's been 6 years in the making now.
 
Michelle Bilek said:
Hello everyone, I guess I have been totally out of the loop and have not received anything except the last letter from VD.
Experts in Real Estate law here? Who is our Lawyer representing us as purchasers? Has a class action law suit been proceeding? If not, who can we retain? At least this way I will have a peace of mind that I am getting the appropriate information and our potential actions we can take. Thanks.
Click to expand...
My lawyer advised me to be wary of joining a class action lawsuits. Because the judge can rule whatever they deem to be a fair amount, and whatever the amount they payout can terminate your contract..so after legal fees and depending on how many people join the lawsuit, your portion may be far less than your downpayment. And if your contract is terminated, you can't receive your downpayment in addition to the class action money.
 
Michelle Bilek said:
Hi all,
I'm thinking of scheduling meetings with the MPP and MP of Brampton North.
Now that we are heading into spring sessions, it might be difficult for a sit down, except maybe for the Easter holidays or weekends. If I cannot get a sit down, I was wondering if anyone would want to think about social actions - letter writing, rallying at the office?
I would like our elected officials to take some action on this disaster. It's been 6 years in the making now.
Click to expand...
I already tried that. I have contacted them. They would ask you to contact Tarion if there are any concern related to pre construction.
 
Michelle Bilek said:
Hi all,
I'm thinking of scheduling meetings with the MPP and MP of Brampton North.
Now that we are heading into spring sessions, it might be difficult for a sit down, except maybe for the Easter holidays or weekends. If I cannot get a sit down, I was wondering if anyone would want to think about social actions - letter writing, rallying at the office?
I would like our elected officials to take some action on this disaster. It's been 6 years in the making now.
Click to expand...
I tried that in the early stages with Vandyk MPP MP didn’t do anything, they are useless until election time then u hear from them!
 
UptownGirl said:
My lawyer advised me to be wary of joining a class action lawsuits. Because the judge can rule whatever they deem to be a fair amount, and whatever the amount they payout can terminate your contract..so after legal fees and depending on how many people join the lawsuit, your portion may be far less than your downpayment. And if your contract is terminated, you can't receive your downpayment in addition to the class action money.
Click to expand...
Thank you, so does your lawyer advise we all get separate lawyers?
 
Sigh101 said:
Thank you, so does your lawyer advise we all get separate lawyers?
Click to expand...
Her advice to me was if they don't have enough money to pay their creditors, they don't have any extra money to pay you. So far, our downpayment is still safe and is in trust of their lawyer. And in worst case scenario Tarion has your downpayment insured (up to 10% of the purchase price). Unfortunately, whatever money was given to Vandyk for upgrades is gone. You can try to sue for that, but given that paying creditors takes priority, I don't know how successful you will be in retrieving any of that money back.
 
Michelle C said:
Wouldnt an update be great. I dont think they care or realize how many families are in limbo over this nightmare. Anybody have updates?
Click to expand...
KSV dont care about families! They only care how much cash they will make.. guess it will take until those projects are sold , estimating it should be asap or before June per their memo. Plus KSV say we have to check the site for updates , dont think they will be sending us any updates via email etc!
 
Last edited:
You must log in or register to post here.

Back
Top