qtpieprnsz
New Member
I just drove past it today on my way to work. It has been around for about 1 yr right? What happened to the Electric condos in the same spot?
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Dwell City Towns (427 & Rathburn, Menkes, ?s, ?) (was Sell-Off Condos)
- Thread starter Mike in TO
- Start date
You are thinking of Upside Down Condos. Different thread.
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Rob P
New Member
This project has been CANCELLED again. My friend bought into it and just recieved the notice today.
catcher_of_cats
Active Member
Which project?
Schnoober
Active Member
Yes, it is official. Holiday Towers / Sell Off Condo is "officially" cancelled. Steve Lorimer from Fram just confirmed it.
urbandreamer
recession proof
Fantastic news. What this site really needs: Mr Ma!
Schnoober
Active Member
Urbandreamer, you really are an asshole!
condoinvestor
New Member
Has anyone received any official cancellation letters yet? Does anyone know when we will be getting our money back?
Schnoober
Active Member
You should of gotten yours by now. I got mine about three weeks ago. I would contact the vendor's lawyer just to verify.
Rob P
New Member
Yup, 3 weeks ago. Money should already be back in your hands
condoinvestor
New Member
Did you guys receive the money you paid or any interest on it as well?
Schnoober
Active Member
no interest was received. rate used was bank of canada rate minus 2%
condoinvestor
New Member
So is the consensus here that we will simply take our money back and do nothing about the fact that the builder's jerked us around for over 2 years and paid 0% interest at the end of it all?
catcher_of_cats
Active Member
Is not interest mandatory when getting your deposit back?
And how can a rate be less then prime for something like this?
And how can a rate be less then prime for something like this?
SeanLafortune
New Member
It depends on what is spelled out in the Agreement of Purchase and Sale.
There should be a specific clause that dictates how the Deposit is to be handled and what fees or interest would be attached if the project fails to move forward.
Id be interested to see that clause.
There should be a specific clause that dictates how the Deposit is to be handled and what fees or interest would be attached if the project fails to move forward.
Id be interested to see that clause.