Dwell City Towns (427 & Rathburn, Menkes, ?s, ?) (was Sell-Off Condos)

[dosbox]

I will not be happy at all if I merely get my money back or even if they pay a small interest. I could've invested that money elsewhere and received a much better return.

So, why didn't you? Buying pre-construction is always a risky endeavour - and the price of a potentially higher return. Complaining when the risk materializes seems a little hypocritical, though I do feel for the people who bought into this project for non-investment reasons.

 

[condoinvestor]

So, why didn't you? Buying pre-construction is always a risky endeavour - and the price of a potentially higher return. Complaining when the risk materializes seems a little hypocritical, though I do feel for the people who bought into this project for non-investment reasons.

I didn't because it seemed like I was getting a good deal. At the time of sale they were not as unprofessional as they are now. It is not about a risk being materialized. I have taken risks before and have dealt with them if they materialized. It is the audacity of this group that I am pissed off at. They think it is okay to take buyer's money and keep it for over 2 years but not provide regular status updates especially when the project is in trouble.

 

[thaila]

I had to email my address. they may not have yours either Lenny.

 

[dosbox]

I didn't because it seemed like I was getting a good deal. At the time of sale they were not as unprofessional as they are now. It is not about a risk being materialized. I have taken risks before and have dealt with them if they materialized. It is the audacity of this group that I am pissed off at. They think it is okay to take buyer's money and keep it for over 2 years but not provide regular status updates especially when the project is in trouble.

So, you were blinded by the "good deal"? Doesn't make it right, but poor customer service is part of the risk of buying pre-construction. Anyone who can't deal with that should probably reconsider their "investment" choices.

 

[condoinvestor]

So, you were blinded by the "good deal"? Doesn't make it right, but poor customer service is part of the risk of buying pre-construction. Anyone who can't deal with that should probably reconsider their "investment" choices.

What you are saying makes absolutely no sense. Like all other buyers, I bought it because it was a good deal. How is poor customer service part of the risk of buying pre-construction? You are saying if people buy pre-construction they don't deserve proper customer service? And we are not even talking about day to day customer service here. We are talking about giving your buyers status updates on the project, especially when you are sitting on their money for over 2 years.

It sounds like you are working for FRAM and trying to justify their actions by saying 'oh it is all part of risk of buying pre-construction.' Give me a freakin break.

Let me ask you a question. Did you buy a unit at holiday towers?

 

[urbandreamer]

I didn't buy a unit at Cheap Vacation's Are to be Avoided-towers, but I do believe this project is history. The online realtor community seems to agree. So you didn't make any money here? Big deal. Move on and remember, location, rep and history of the builder, etc must be considered as part of your dd process. Otherwise, stop the complaining and move on with your life!

There'll be plenty of real estate bargains soon.

 

[Schnoober]

I didn't buy a unit at Cheap Vacation's Are to be Avoided-towers, but I do believe this project is history. The online realtor community seems to agree. So you didn't make any money here? Big deal. Move on and remember, location, rep and history of the builder, etc must be considered as part of your dd process. Otherwise, stop the complaining and move on with your life!

There'll be plenty of real estate bargains soon.

Your constant negativity is hilarious. Who are you to judge with your rude and obnoxious comments. I am very new here but based on other people's comments about you, you're not liked very much here. I know this is a forum and everyone has the right to express their opinion. But can you show a little compassion to people who are just frustrated about the future of their new homes. I am pretty sure that purchasers of Holiday Towers want to back out, get their monies back, and just move on. We all want to move on from this fiasco. And I am sure they will never deal with this builder again but unfortunately, they are stuck with it and are in the mercy of the builder. And I am sure they will learn from this as well. But to ridicule them is totally uncalled for.

 

[dosbox]

What you are saying makes absolutely no sense. Like all other buyers, I bought it because it was a good deal. How is poor customer service part of the risk of buying pre-construction? You are saying if people buy pre-construction they don't deserve proper customer service? And we are not even talking about day to day customer service here. We are talking about giving your buyers status updates on the project, especially when you are sitting on their money for over 2 years.

Perhaps you ought to re-read your quoted post where you complained about the poor return on investment. The poor service claim was made by you after the fact.

Regardless, the potential failure of a development is why prices for pre-construction are lower than for built and registered buildings. Anyone who doesn't understand this is fooling themselves, as is expecting decent customer service from a failed developer.

It sounds like you are working for FRAM and trying to justify their actions by saying 'oh it is all part of risk of buying pre-construction.' Give me a freakin break.

Let me ask you a question. Did you buy a unit at holiday towers?

LOL - so calling you out on your hypocrisy makes me a shill? I have a posting history, feel free to review it. I've no intention of further derailing this thread.

For anyone else caught up in this mess, there are plenty of online resources to educate yourself on the pitfalls awaiting condo buyers. Heck, even the CBC have run a few:

http://www.cbc.ca/marketplace/condo_crunch/
http://www.cbc.ca/marketplace/pre-2007/files/home/newhomes/index.html

 

[drewp]

To those who for some reason are being such assholes. This forum is for those trying to get answers on what do now in this time of uncertainty, not to be bashed for buying here. I feel bad for those who bought here, and hope that a resolution is soon.

So, ignore the people who want to piss on during this time, its usually because they are bitter about there life.
UD, can't even afford a condo.....he is a renter, hence the constant negativity.

 

[qtpieprnsz]

The reality of this whole ordeal is that people put their trust into this development. Whether for investment purposes or not, communication is key regardless. Unfortunately, those of us who took that leap of faith ended up getting burned for it. Not only were we kept in the dark for 2+ years, it is not justification to only receive our deposits. Yes, buying preconstruction is always a risk, but if no one ever bought preconstruction, no buildings would be built. It is because of the preconstruction deals that people invest. The onus should be on the owners/ builder to ensure that COMMUNICATION is always open. So they may have another investor in line, whoop-di-doo-da!!! How much longer will we need to remain 'on hold'?

 

[condoinvestor]

dosbox,

Thank you for continuing your non-sense. You are pretty stupid to say that it is foolish to expect decent customer service from a failed builder. In fact, we would expect excellent customer service and OPEN communication from a failed builder in order to maintain their integrity. If FRAM was straight up and kept the buyers informed on the status of this project, there wouldn't be this many frustrated buyers.
Again, you will not understand this since you have not bought a unit with holiday towers which again makes me question your presence on this thread.
lol - how much are they paying you to post here and justify their actions. You are doing a really bad job. And thank you for posting the most useless links.

Thank you everyone who understand the emotions of a frustrated buyer. We don't expect people who have never bought a home in their life to understand this.

 

[realestatedreamer]

so this project is a flop? cancelled?

 

[qtpieprnsz]

I'm not 100% sure, but FRAM is looking for a new investor... did you invest in it?

 

[dosbox]

I'm going to suggest those with a beef against this developer look at how buyers in another development are dealing with poor communication. Hint: they're not whining about poor investment returns, or resorting to childish name calling.

Though I do notice UD recommending that development as a good investment

 

[realestatedreamer]

I'm not 100% sure, but FRAM is looking for a new investor... did you invest in it?

no i didnt, but i invested at upside down condos and i heard there has been no action yet. Meh...this is expected from builders, nothing new just sucks when people are buying it to live in it.