M2M Condos (Aoyuan Property Holdings ) - Real Estate -

Apparently Aoyuan Canada is telling the City,... they intend to proceed with Phase 2! Even though, they got Building Permit to start shoring in December 2021 and have not proceeded,.... and even though, last Summer Aoyuan Headquarters have instructed all Overseas operations to liquidate! And of course, I'm calling BS!

Oh,... I just thought I'd post this in M2M's Real Estate forum,... since M2M's Project forum is over-run by Real-Estate/Occupancy/ClosingCost posts!
 
M2mnm said:
Thx for your reply. Yeah that’s what ppl said and I was expecting. But the notice says ‘Final Closing Date: To be advised’.
Wondering if you had the same situation.
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I'm in the same situation. Interim closing is next week. Did they ever let you know when final closing will be?
 
Anyone who has purchased M2M Phase 2, please get in touch with me.

We can share the latest news about the development (or the lack of it) and can pull resources together to get legal assistance.
 
hihihihihi said:
Anyone who has purchased M2M Phase 2, please get in touch with me.

We can share the latest news about the development (or the lack of it) and can pull resources together to get legal assistance.
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What communication has there been from the developer? Has phase 2 been cancelled?
 
I had purchased a unit in Phase 2. I received a docusign today from M2M with title "mutual release and termination agreement".
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
Also on the third paragraph it says "And whereas for various reasons the Purchasers have requested to terminal the Purchase Agreement and the Vendor has agreed to such request...." I never made such a request! Anyone knows what's going on?
 
Anyone who has moved in M2M condos phase 1, has experienced water leak issues and the condo has failed to fix the issue appropriately and treated it as a cosmetic damage when it is a bigger issue than that, please reach out to me. I’d like to make a note of the homeowners they are bullshitting so I can take this up to the public, including the media.
I am fed with this builder downplaying any issues with the unit and it’s been a shitshow since we moved in.

Would love to see who else might be experiencing the same issue and the builder did nothing but put a bandaid solution to the problem. Your input is appreciated.
 
Wukong said:
I had purchased a unit in Phase 2. I received a docusign today from M2M with title "mutual release and termination agreement".
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
Also on the third paragraph it says "And whereas for various reasons the Purchasers have requested to terminal the Purchase Agreement and the Vendor has agreed to such request...." I never made such a request! Anyone knows what's going on?
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Did you end up getting the deposits back?
 
Wukong said:
Seems like they are paying back the deposit + interest. However, they are subtracting $1695 for administrative fees. Are they allowed to do that?
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I can't speak to a fee of that size but a portion of it is a non-refundable piece paid to Tarion for deposit protection/insurance.
 
IMO121 said:
Anyone who has moved in M2M condos phase 1, has experienced water leak issues and the condo has failed to fix the issue appropriately and treated it as a cosmetic damage when it is a bigger issue than that, please reach out to me. I’d like to make a note of the homeowners they are bullshitting so I can take this up to the public, including the media.
I am fed with this builder downplaying any issues with the unit and it’s been a shitshow since we moved in.

Would love to see who else might be experiencing the same issue and the builder did nothing but put a bandaid solution to the problem. Your input is appreciated.
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I think the problem in this case is that the builder/developer went bankrupt. Who would be responsible for structural deficiencies if this was the case?
 
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