Time and Space Condos (Pemberton) - Real Estate -

DSC said:
From many posts on this and other threads on UT it is clear to me that many 'first time buyers' really "have no idea of what is going on". Of course, not everyone needs a lawyer but they ARE useful for MANY people - and, no, I am not a lawyer myself!
Click to expand...
I agree with you that if someone is completely blind going into their first purchase and just can't understand the contract language (especially first time foreign buyers, well they no longer allow them temporarily for now at least), then it would be a good idea to have a lawyer to walkthrough the whole thing together. Usually though, most people do their due diligence very well (research, talking to family members/people they know etc.) before major purchase so they pretty much know all the key stuff, and in such cases lawyer's function is largely diminished. Also, Preconstruction condos is a number game for the builders so as long as most buyers for one building don't have issues with the APS, they won't budge anyways I feel.

I took some time to read some threads here, while I'm no expert in this stuff, it largely feels to me that vast majority of the problems me and many other people run into are outside of what the APS and condo act dictates anyways (e.g. builders taking advantage of gap/ambiguity in the current regulations), so sadly whether someone had a lawyer to review the APS or not would not have made anything different. The moment people signed that contract and it leaves the 10-day timeframe, they are stuck with whatever the developers decide to do.
 
Has anyone heard anything about the final closing yet? Also, should a change in the BOC rate affect occupancy fees, I would think so. Will the builder pay interest for our deposit using the same 7% rate at closing?
 
skov555 said:
Has anyone heard anything about the final closing yet? Also, should a change in the BOC rate affect occupancy fees, I would think so. Will the builder pay interest for our deposit using the same 7% rate at closing?
Click to expand...
Not for this building but I'm a home owner in another one of Pemberton's new build (social condo). I didn't bother in my case and I closed last week at least, so I only paid 1 month worth of 0.1% extra.
Technically it should and it is worth trying (ask your lawyer to send an email to the builder's lawyer), but knowing Pemberton always be prepared for an excuse why they cannot make the change.

Also worth noting is that depending on the overall amount you are paying, 0.1% change in the 1-year BOC rate will unlikely make any substantial differences for a few months. So think about if you want to go through the hassle with a rude builder and their extremely rude lawyer, or just eat the cost.
 
GregoMuch said:
Any updates on closing? What is the best variable rate right now? Thanks
Click to expand...
Silence, that is ridiculous how long they make people pay those outrageous occupancy fees, they better give some back as it has been reduced rate already for a few months.
Also what are critical dates, wonder if they already passed those and should compensate as well. I bought a unit in 2017, lol.
 
skov555 said:
Silence, that is ridiculous how long they make people pay those outrageous occupancy fees, they better give some back as it has been reduced rate already for a few months.
Also what are critical dates, wonder if they already passed those and should compensate as well. I bought a unit in 2017, lol.
Click to expand...
I heard they are now closing Spring 2025.
 
The west facing units, if high enough, has an incredible view of the CN tower and downtown. Was it a lot more expensive than the east side during the pre-con sales? I cannot remember... I am regretting I did not get the west one.
 
crestron said:
The west facing units, if high enough, has an incredible view of the CN tower and downtown. Was it a lot more expensive than the east side during the pre-con sales? I cannot remember... I am regretting I did not get the west one.
Click to expand...
If the unit view was clearing the building in front of it, it was definitely more expensive, don't have the exact numbers, around 900psft, you would now be at or below resale prices.
 
Last edited:
You must log in or register to post here.

Back
Top