Limelight Condos (Daniels Corporation) - Real Estate -

yyzer said:
MississaugaClouds.....this discussion should really be in the real estate section of the forum.....however..

- I went with a client of mine on his PDI inspections of 2 units (north tower).....everything was immaculate, except for a very minor scratch in the hardwood floor of one unit, which was repaired prior to closing..

- he had no trouble with appraisals, afaik, as everything closed o.k.

- the only time I have heard of HST credits being revoked is if you rented or sold your unit prior to registration....there is an HST credit built in to the purchase price, for owner occupants only, which can be forfeited if you rent or resell your unit prior to registration (and the builder finds out about it)...
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The units you inspected were on the lower floors? Before the building registered in Nov? I feel like they rushed the upper units to get them done and did a poor job. Would you know who their appraisers were? As I'm still trying to close and this has gotten really complicated.

The builder put the HST credit total of 26k on top of my purchase price on the Statement of Adjustments, i tried to point this out to my lawyer and he was telling me the statement of adjustments are hard to read. I called Revenue Canada and showed them and they told me there was a mistake and the builder should be giving me the credit. I've also heard others in the building that paid it when they closed and they were primary residents and were not renting it out. Plus if you are renting it out you would just apply for the credit directly with the revenue Canada.

Sorry didn't know there was a real estate post here. However i need to find people who purchased in Limelight or I will be charged a 5k extension fee for no reason, and need to prove to my lawyer that there are other cases out there like mine and how those were taken care of, or the builder will be taking me for a ride.
 
MississaugaClouds, I feel for you....yes, the 2 units were on lower floors, and the inspections were back in the late fall...I went as a courtesy only, along with my client, and didn't get involved in the closing process..

This is something that your lawyer should be dealing with....if your lawyer is giving excuses that the statement of adjustments are too 'complicated', then how is he or she earning their fee? They are, after all, supposed to be the experts.....if your financing was arranged by the builder, then the problem with the appraisal needs to be addressed by them, imo....You can request a 2nd appraisal..
 
yyzer said:
MississaugaClouds, I feel for you....yes, the 2 units were on lower floors, and the inspections were back in the late fall...I went as a courtesy only, along with my client, and didn't get involved in the closing process..

This is something that your lawyer should be dealing with....if your lawyer is giving excuses that the statement of adjustments are too 'complicated', then how is he or she earning their fee? They are, after all, supposed to be the experts.....if your financing was arranged by the builder, then the problem with the appraisal needs to be addressed by them, imo....You can request a 2nd appraisal..
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Well apparently my lawyer is listening to what the builder is saying to him and i'm having to push him back and tell him what to tell the builder. I refuse to pay this extension or I will take it to the Media as i work in PR and have heavy connections with TV and broadcasting.. then the builder will have huge negative publicity. However before going down that route i would like to close my condo normalaly. The mortgage isn't through the builder i used a broker and that appraisal company is not willing to do a redo on the appraisal which i paid 400 for. I am tempted to tell my credit company that the service provided was not compete. Not sure what other options i have as every appraisal i need to pay for.
 
Well, you are right, the key is to get it closed, that's for sure......

/I know some experts who might be able to help.....pm me...
 
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