I’ve gone through the sales contract again, and it’s quite clear on the matter of price adjustments and fees. The agreement outlines specific scenarios where the vendor can adjust the final amount payable, such as development levies, utility connection fees, administrative charges, and HST rebate eligibility. These are detailed in Schedule B and other sections of the contract, and they are all tied to actual costs or purchaser-initiated upgrades—not market conditions.
Importantly, the contract does not seem to allow the vendor to adjust the sales price based on changes in market value or external economic factors. The purchase price is fixed at the time of signing, and any adjustments must be directly linked to documented costs or regulatory requirements.
Pinnacle’s letter indicates that they would honor the terms of the original sales contract. If that’s the case, it’s unclear how the builder can now ask for additional money beyond what’s contractually permitted. Unless there’s a material change as defined under the Condominium Act—which would entitle the purchaser to terminate the agreement—there doesn’t appear to be any legal basis for increasing the price.
So under what authority or clause the builder is relying to request more funds?
