Recent content by ssabah

I was under the impression that the Stalking Horse bid placed by Kingsett Mortgage Corp was to establish a minimum baseline for other interested parties to bid for this project. Potential bidders have until March 23, 2026 to submit a binding offer so does that mean that we will receive our...

I think a lot has transpired since the Court issued the Ancillary Relief Order on Oct 15th, 2024. Apparently 254 out of 287 Uptown APSs have been terminated so far based on increase in the purchase price. So there are only about 40 APSs outstanding with an Outside Occupancy date of March 13th...

It's my understanding that we have the option to opt out only if occupancy is not given by the Outside Occupancy date. However the way construction is going on full steam and there are still over 2 months to go, I am not sure where this is headed.

If they keep the price the same how do they expect us to close on the property considering the appraisal values are coming in drastically lower?

Change the price? Do you mean they will still increase the price because I bought it at the peak and I can't imagine them to further increase the price considering the real estate market conditions.

What is the purpose of a New Agreement? Is that going to give us the option to terminate this Agreement and get our deposit back?

Have you had any correspondence in regards to a new purchase agreement and from whom? I have absolutely no information on this.

Hello, Are there any folks on this forum who bought Vandyk Uptowns in 2022 and have an Outside Occupancy Date of March 13th, 2026? Thanks, Sabah

So how can purchaser's who don't receive an amended APS get their deposit back? They would be better off if they gave us back our deposits with interest and then re-sold the units at whatever is the current market pricing according to them. It is such a waste of time trying to get people to pay...

My outside occupancy date is still unchanged and shows March 13th, 2026. So are you saying that only those who receive an amended APS have a choice whether or not to opt out of the project?

My First Tentative Occupancy date was October 28th, 2024 and Notice period to advise delays was July 30th, 2024. So what is the penalty to the Vendor in this case?

Each purchaser should receive an amendment to the APS irrespective of when they purchased as they will have to amend the occupancy dates but the question is when will that happen?

So what happens to people who purchased at the peak in 2022? Are they going to lower the purchase price for such buyers to align with their new pricing strategy where they say they will keep the pricing below current market?

For those who purchased the unit through a Realtor, has your Realtor contacted you with any updates regarding this situation?

Thanks for letting me know.