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Yes. We are screwed if we didn’t cap development charges. I didn’t. So, I will opt out of contract when they amend the dates.

I think, they can, but only with our consent. They can amend the outside occupancy date or the price, provided we agree to it. If we are not ok with the dates or price, we could get out of the contract I guess.

I can't believe this. But it seems like it is too good to be true. I think, For now, they plan to move the outside occupancy date to 2028. Once that’s settled and everyone believes the price won’t change, they will likely adjust the price around 2027 or closer to the occupancy date. I feel...

Update from KSV.

We are overthinking about this. Let's wait and see. but what ever amendment it is they can't just amend it without buyer consent. It kind of seems like fraud. One thing for sure, they are struggling to come to conclusion for Uptowns. That's why it is taking more time. They have provided...

does that mean , Can they just amend our contract with new price without our permission. ? Probably not . Only lawyer can confirm that.

If I didn't receive any response by today, I would email KSV tomorrow for the final occupancy date and possibility of getting money after October 28. ;)

Rofl. There may be some exceptions for projects under receivership. I dont know, nothing makes any sense. These contracts are designed to screw buyers only.

If we didnt get update, then Oct 30 would become our final occupancy date. That what contract is saying.

Yes, They are cunning, there will always be loopholes. If there are any amendment in the contract. I am out. I will only think, if amendment is only for closing date with capped development charge and no increase in price (I dont think, they would accept this). Probability of walking away...

I didn't cap the development charges. So I would ask them to cap that as well, if they plan to just amend the occupancy dates. If not, I will be out. ;). I think they would charge at least 50k for development fees.

I doubt that. How can they arrange parking for those people, if they dont have garage. Also I think we only have 9 more months for April 25. if there is no construction going on now, it would be extremely difficult to meet that time line. It would be mutual agreement for everyone.

I think it depends on how much they increase the price. Obviously if there is no change in price, few may consider to stay. Let's wait and see.

They have to provide some update by July 30. Otherwise October 28 will become firm occupancy date (as per contract).

Same dates. So we will get some update in a week. at least saying that they can't complete by October. ;)

is there any construction activity going-on in the site? Now, I started to think, they simply drag the decision till final occupancy date.

you can find the progress of the Vandyk receivership here. https://www.ksvadvisory.com/experience/case/vandyk

I just assume, but some one in this forum can confirm. If they miss the final occupancy date, then we can cancel the contract and walk away with the deposit. But with the current situation, I think there will be new occupancy date. If they are planning to amend the occupancy date then...

as per the reports, KSV is in the process of hiring construction manager. Hopefully we would get an update once it is done.

Recent update from KSV. Hopefully we would get an update soon.