Search results

This means we would get our down payment soon?

I am seeing below comment in the forum more often now. "Vandyk isn’t the first, they won’t be the last. We’re not the first to get screwed like this, we won’t be the last. Unless the system is changed." Let's say, you would commit a crime and could not say 'I am not the first to do this crime...

Again. You are saying what others should have done. There are various reason behind opting for pre cons Some may not have down payment Some want to move to new house Some are ok to wait Etc. etc. Now you are blaming buyers for Vandyk negligence. Please let’s stop this discussion

See. If you have that much influence over government, please go ahead :). You told that tough land, covid, inflation are the reasons. My point is Vandyk’s bad business is responsible for this mess. If you are a seasoned developer you should have the ability to withstand all market turnover...

There are always loopholes in the system. That does not mean you have to deceive your stake holders. They are saying they have been in business for more than 35 years (not sure if that is truth). What they have learned all these years. If they are new to business, ok they had some misstep and...

It is because of bad business decisions from Vandyk. They tried to expand in short period of time. I see lot of projects start their sales on 2018 and going to complete construction this year. Also they have buyers in the darkness for many years. This is fraud. Please don’t ever say Vandyk is...

Vandyk won't sell or build anything. They are already in so much financial trouble. Please find these articles for more details. https://www.cbc.ca/news/canada/toronto/preconstruction-project-delay-brampton-1.7000430...

Vandyk won't sell or build anything. They are already in so much financial trouble. Please find these articles for more details. https://www.cbc.ca/news/canada/toronto/preconstruction-project-delay-brampton-1.7000430...

I dont think so, we would get it. If it is freehold project, it would not be held under trustee. We might not get our down payments. since ours is condo project, we are not at the risk. But the question is 'when will we get it'?

So, our money is safe for now. But whether they go for Bankruptcy or not. They need to provide some update on our project before end of 2024. As our final occupancy date is April, 2025. Wish, they would cancel the project and provide our deposit back ASAP before they go bankrupt.

received it via email or letter?

I did some research on it. It seems they can’t touch our down payment when it is with trustee. But don’t know if there are any loop holes for builder to access those. Only lawyer can advise on this. Or we will know in a year I guess.

They have mortgage and construction liens on all of their projects like backyard condos, Grand Central Mimico. They are in total financial mess. Government needs to crack down on shady builders like Vandyk.

Thanks a lot for this article. yours is much detailed and covers concerns from every end. Hopefully it would move something. Now as a buyer, I know to some extent what is going on behind Vandyk projects. It seems like they are going bankruptcy. We are hoping atleast, we would get our down...

Another article about Vandyk. https://www.theglobeandmail.com/real-estate/article-toronto-builders-projects-stalled-as-legal-woes-mount/

Another Article about Vandyk. https://www.theglobeandmail.com/real-estate/article-toronto-builders-projects-stalled-as-legal-woes-mount/

Another article about Vandyk. https://www.theglobeandmail.com/real-estate/article-toronto-builders-projects-stalled-as-legal-woes-mount/

Another article about Vandyk. https://www.theglobeandmail.com/real-estate/article-toronto-builders-projects-stalled-as-legal-woes-mount/

Another article on Vandyk. https://www.theglobeandmail.com/real-estate/article-toronto-builders-projects-stalled-as-legal-woes-mount/

Let’s wait and see. But if they are not paying interest means they are breaching the contract. We could entitled to sue them. Also we are not sure if Vandyk is going bankrupt. Their Etobicoke projects are progressing as expected. So let’s wait and see.