dt_toronto_geek
Superstar
Me thinks they don't know what they're talking about over there.
Toronto Couture The Condominium | ?m | 42s | Philmor | Graziani + Corazza
Automation Gallery
Superstar
17%= aprox.65-70 units, thats 4-5 to be sold a month for the next 15 months, cant this development do better in sales?
WeirdFishes
Active Member
I think this is pretty realistic considering the developer and building history. Cutting floors gives off a bad vibes and their ever changing timelines... I would think most people would be uneasy locking their money into this type of investment. I do want this building to go up, but I honestly don't see groundbreaking until next fall, if that.
Just my two cents. Hopefully I am wrong!
MBS-Guru
Active Member
I was thinking 1 sale per week which seems like their pace but if they do something drastic like californiaCondo or Fly then they can probably break ground by next month.
kennyx
Active Member
Not sure they can. From the website, it looks like the smallest unit they have is 560 sq/ft.
Werent the 'cheap' units at Fly/California tiny shoebox units? (350-400 sqft?)
Alex S
Active Member
They've confirmed 39 floors, they knocked off the top 5 floors which were penthouses. They say that they're 70% now and expect to start digging by the end of the year.
dt_toronto_geek
Superstar
Did this come from a salesperson? There are only 3 PH floors (43-45), the standard units are from 3-42.
From June 24th -
Alex S
Active Member
This came from my agent, I might have heard wrong in terms of the penthouses but for sure about the 39 floors.
janiv
New Member
Asking my deposit back
After reading here the news that the top 5 floors were removed, I went to the sales office yesterday to confirm that the penthouse suite that I purchased last year does not exist anymore.
Neither Sheldon nor Lawrence work in the sales office anymore; there's a new sales guy named Gordon who seems to be a really nice person. He told me that he just moved to this office few days ago and he is still learning.
He confirmed that the penthouse suites are gone and I have to choose a different suite, so I chose a different one and when he calculated the price he told me that he was told by the Monarch head office that he cannot give me the 30,000 discount although this promotion is still available to new buyers.
I was really pissed off because first I have to buy a unit in the price of today instead of the price of last year, and second they are not willing to give me a promotion that is currently offered to all buyers.
So I told the sales person that I just wanted my deposit back. He said that he will have to check with the office for the procedure and he believes that I will get my money back in few weeks. I hope that he's right because I used my line of credit with an interest rate of 8% to pay for that deposit.
I'll keep updating this forum whether Monarch is really willing to return me my deposit and how long it took them. Hopefully they will move things faster this time because they were really slow in processing the purchase agreement last year.
After reading here the news that the top 5 floors were removed, I went to the sales office yesterday to confirm that the penthouse suite that I purchased last year does not exist anymore.
Neither Sheldon nor Lawrence work in the sales office anymore; there's a new sales guy named Gordon who seems to be a really nice person. He told me that he just moved to this office few days ago and he is still learning.
He confirmed that the penthouse suites are gone and I have to choose a different suite, so I chose a different one and when he calculated the price he told me that he was told by the Monarch head office that he cannot give me the 30,000 discount although this promotion is still available to new buyers.
I was really pissed off because first I have to buy a unit in the price of today instead of the price of last year, and second they are not willing to give me a promotion that is currently offered to all buyers.
So I told the sales person that I just wanted my deposit back. He said that he will have to check with the office for the procedure and he believes that I will get my money back in few weeks. I hope that he's right because I used my line of credit with an interest rate of 8% to pay for that deposit.
I'll keep updating this forum whether Monarch is really willing to return me my deposit and how long it took them. Hopefully they will move things faster this time because they were really slow in processing the purchase agreement last year.
cdr108
Senior Member
^^^
considering they did a material change to your contract, to me it's been voided, so they have no choice but to refund your money.
considering they did a material change to your contract, to me it's been voided, so they have no choice but to refund your money.
whatever
Senior Member
Why didn't they contact you first when the suite you purchased ceased to exist? Were they just hoping you wouldn't notice?
janiv
New Member
They did not contact me
That's exactly the question I asked the sales person, and his only explanation was that he was just moved to this sales office from a different location. I bet that did not contact the other buyers. I just hope that they will return by deposit as soon as possible so I can go and buy in a different project.
That's exactly the question I asked the sales person, and his only explanation was that he was just moved to this sales office from a different location. I bet that did not contact the other buyers. I just hope that they will return by deposit as soon as possible so I can go and buy in a different project.
dt_toronto_geek
Superstar
I hope there's no small print that allows them to make such changes if they deem it necessary.
That stinks. Start looking for another project, a company who does business like this doesn't deserve your hard earned money.
thecharioteer
Senior Member
My advice would be to get your lawyer to write a very stern letter to the President of Monarch and skip dealing with the sales agent. This is a legal issue that is very clear cut in your favour. A time limit should be specified for the return of your deposit or it should be clear you'll sue for damages.
janiv
New Member
No update from Monarch
I called today to the sales office again and the guy told me that no one from the head office replied to his email so I still need to wait. So unfair!!! It's almost a week and not even one update or clue what's going on. The prices are going up and I cannot purchase in a different project until I get my money back. So technically I continue to lose money. Anyone in the same situation? I'm planning to contact my lawyer next week if Monarch still ignores me and the sales agent. But my lawyer won't do it for free
I called today to the sales office again and the guy told me that no one from the head office replied to his email so I still need to wait. So unfair!!! It's almost a week and not even one update or clue what's going on. The prices are going up and I cannot purchase in a different project until I get my money back. So technically I continue to lose money. Anyone in the same situation? I'm planning to contact my lawyer next week if Monarch still ignores me and the sales agent. But my lawyer won't do it for free