Brampton UPtowns at Heart Lake | ?m | 4s | VANDYK

Deanfeb said:
seems so, but VANDYK took loans against the deposits , project etc.. somewhere about $200,000,00..
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Yes, they borrow against those monies. But when the money is with trustee, those are not their money, right? How could they touch those money in case of bankruptcy? When those are technically not their money. Those are all questions for lawyers. But I am wondering.
 
SRAMP said:
Yes, they borrow against those monies. But when the money is with trustee, those are not their money, right? How could they touch those money in case of bankruptcy? When those are technically not their money. Those are all questions for lawyers. But I a
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SRAMP said:
Yes, they borrow against those monies. But when the money is with trustee, those are not their money, right? How could they touch those money in case of bankruptcy? When those are technically not their money. Those are all questions for lawyers. But I am wondering.
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true.. we will find out sooner or later.. at least we will hear what Domenic /Vandyk will say.. not his bullshit answer it is an 'ACTIVE SITE' with all closed up.. lol took alot of loans for all those projects they sold and still selling BACKDOOR Condis, Mimico, Queensway etc.. let see if we will receive a letter with construction update.
 
Also I don’t know how could they get 200 mil, as total value of the project is not more 200 mil. Which dumb a** bank gave them that much loan. So all fault and negligence are on builder and banks. And commmon people has to pay for their greed.
 
SRAMP said:
Also I don’t know how could they get 200 mil, as total value of the project is not more 200 mil. Which dumb a** bank gave them that much loan. So all fault and negligence are on builder and banks. And commmon people has to pay for their greed.
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Private Vendors / Equity etc..
 
jbaa1 said:
Lol we’re just gonna get harassed by renters..

We’ll be labelled “greedy investors” or “home owners”, I can’t really see this turning out good for us. The general public would rather see us lose out. Salty haters lol.
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I don’t know why you think people would assume you’re an investor.

There’s a housing crisis. People need houses one way or another.

No one likes being screwed. Marketplace does all sorts of research to help people not get screwed out of a couple hundred or couple thousand dollars. Don’t you think it’s a good public service announcement to warn others not to buy from this developer. not to spend hundreds of thousands here. The idea that if you’re just super nice he will get the job done is insane. He’s over his head and everyone involved will need their lawyers. That’s the end of this whole story. At least other people should be warned.
 
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sixrings said:
I don’t know why you think people would assume you’re an investor.

There’s a housing crisis. People need houses one way or another.

No one likes being screwed. Marketplace does all sorts of research to help people not get screwed out of a couple hundred or couple thousand dollars. Don’t you think it’s a good public service announcement to warn others not to buy from this developer. The idea that if you’re just super nice he will get the job done is insane. He’s over his head and everyone involved will need their lawyers. That’s the end of this whole story. At least other people should be warned.
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Time to lawyer up for my deposits I guess .. good luck to us all
 
jbaa1 said:
Time to lawyer up for my deposits I guess .. good luck to us all
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Phew so glad I didn’t put my eggs in one basket. The other projects I got into are all progressing really well. I thought stacked towns was a good idea because I thought it would be quicker and simpler, wow was I wrong lmao
 
jbaa1 said:
Phew so glad I didn’t put my eggs in one basket. The other projects I got into are all progressing really well. I thought stacked towns was a good idea because I thought it would be quicker and simpler, wow was I wrong lmao
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Well now you sound like a greedy renter or flipper. There are people on this thread who invested everything into this project. They are screwed and your gloating about theoretically being wise isn’t helpful.
 
sixrings said:
Well now you sound like a greedy renter or flipper. There are people on this thread who invested everything into this project. They are screwed and your gloating about theoretically being wise isn’t helpful.
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Or do I sound like someone who knew the risks of precon going in? We all knew what we were getting into entering a precon. We all knew the risks, or ought to have known. Precon condo project cancellations have been a normal occurrence for a very long time. Vandyk isn’t the first, and won’t be the last.

I hope all of us will be okay. Best case we get our unit, worst case we get our deposits back quickly.
 
jbaa1 said:
Or do I sound like someone who knew the risks of precon going in? We all knew what we were getting into entering a precon. We all knew the risks, or ought to have known. Precon condo project cancellations have been a normal occurrence for a very long time. Vandyk isn’t the first, and won’t be the last.

I hope all of us will be okay. Best case we get our unit, worst case we get our deposits back quickly.
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Maybe it’s best the CBC didn’t talk to you. The idea is to build sympathy. You may have caused more harm than good.
 
I talk to CBC today. I shared my experience with them. There is nothing wrong with flippers, greedy investors, normal investors, renters and First time home buyers. Everyone took their own level of risk with their hard earned money. But some people like Vandyk is exploiting those people using the loop holes in the rules and regulations.

@jbaa1 with all due respect, I felt like you are talking like someone in Vandyk Payroll. But that's fine. I respect your stand. Everyone is different.
Please use this thread in more productive manner instead of arguing between us.
 
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