Pinnacle Toronto East (Pinnacle International) - Real Estate -

I was at my lawyer's office today and wasn't advised about any of this - maybe because Pinnacle didnt contact my lawyer at that point... but if they had I would have expected my lawyer to push back on this BS.
 
jeta8s said:
Update - heard Pinnacle will be conducting the PDI on owner's behalf utilizing 3rd party PDI inspectors who are commissioned at their cost.

Nothing officially received from PTE or how it is supposed to work.
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Will this be done prior to the interim occupancy date? Will they respect the October 8&15 dates?
 
So is anyone actually getting occupancy this week? If they delay firm occupancy date without 10 days notice don't they have to pay two different penalties, one for being late and one for delaying firm date? I think $150 per day each to a cap or $7500 each?
 
GTAcondo said:
So is anyone actually getting occupancy this week? If they delay firm occupancy date without 10 days notice don't they have to pay two different penalties, one for being late and one for delaying firm date? I think $150 per day each to a cap or $7500 each?
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There’s no way occupancy is happening tomorrow, at least not for me or anyone else I know with an October 8 occupancy date who hasn’t had their PDI scheduled. I’ve done everything on my end though. Purchased home insurance, provided my lawyer with the bank draft and post-dated occupancy cheques, signed all the occupancy documents. I’ve been ready. But Pinnacle has been completely silent. No response to emails. Not even my lawyer is getting replies.

There’s got to be a major issue they’re not disclosing and are trying to manage internally. Not sure what their strategy is, but I think they think silence will help mitigate any risks on their end.

From what I can gather, under Tarion, if you don’t receive proper written notice of a delay and you don’t take occupancy on your Firm Occupancy Date, you’re entitled to $150/day in compensation, up to $7,500. I haven’t received any delay notice, and it’s obvious I won’t be getting keys tomorrow.

Realistically, I just don’t see occupancy taking place for me anytime soon. Pinnacle hasn’t given me and many other buyers the confidence that they will be able to deliver.
 
LV4L said:
There’s no way occupancy is happening tomorrow, at least not for me or anyone else I know with an October 8 occupancy date who hasn’t had their PDI scheduled. I’ve done everything on my end though. Purchased home insurance, provided my lawyer with the bank draft and post-dated occupancy cheques, signed all the occupancy documents. I’ve been ready. But Pinnacle has been completely silent. No response to emails. Not even my lawyer is getting replies.

There’s got to be a major issue they’re not disclosing and are trying to manage internally. Not sure what their strategy is, but I think they think silence will help mitigate any risks on their end.

From what I can gather, under Tarion, if you don’t receive proper written notice of a delay and you don’t take occupancy on your Firm Occupancy Date, you’re entitled to $150/day in compensation, up to $7,500. I haven’t received any delay notice, and it’s obvious I won’t be getting keys tomorrow.

Realistically, I just don’t see occupancy taking place for me anytime soon. Pinnacle hasn’t given me and many other buyers the confidence that they will be able to deliver.
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I believe it's $150 per day if notice of delayed firm occupancy is less than 10 days and $150 per day for delaying firm occupancy in general. But looks like the lack of notice is only a $1500 penalty cap.

Delayed Occupancy Compensation
Delayed occupancy compensation up to a maximum of $7,500 is payable:

  • If occupancy occurs on a date after the Firm Occupancy Date; or
  • If you exercised your right to terminate the purchase agreement due to delay as permitted by the Addendum (e.g., as per the Purchaser’s Termination Period). In this case you are also entitled to a full refund of all monies paid (i.e., deposits, extras and upgrades) plus interest.
Delayed occupancy compensation for living expenses (meals and accommodation) is payable based on a fixed amount of $150 a day for each day of delay until the Delayed Occupancy Date or the date that the purchase agreement is terminated. Receipts for living expenses are not required.

Compensation is also payable for costs incurred by you as a result of the delay (for example, additional moving and storage costs). Receipts for these costs must be provided.

In addition, if your builder fails to give you 10 days notice of an occupancy delay, you will be compensated in the amount of $1,500 ($150 x 10 days).

Condo Units: coverage for occupancy dates, delays & cancellations | Tarion.com

www.tarion.com www.tarion.com
 
Haven’t heard anything about PDI or keys and occupancy date is tomorrow... Very weird. They’re supposed to be a reputable company? Anyone hear anything about anything? Has anyone been inside? Already gave my landlord my last months notice
 
Haven't heard a whisper from them. I recall reading somewhere (Facebook?) that a couple people were contacted to schedule a PDI date. I wonder what's going on with them and what intel they might have.

Regarding the keys, I signed a "Key Pick Up Authorization Form" at my lawyer's office, which is supposed to be sent to Pinnacle. But how would Pinnacle be ready to provide us keys when they are not even ready for occupancy?
 
We just received an email from Pinnacle informing us the PDI was done by a third party. We can see the unit tomorrow and confirmation about key pickup will be provided tomorrow, but likely they will respect the 8th as occupancy date.
 
Same here. Seems not right that they give us only 14 hrs notice to visit our unit in a 10 hour window..
 
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