Upside Down + Fuse Condos (Channington/Brownstone, 14s x2, 26s x2, Burka)

I have a couple of thoughts.

First, the builder is at fault here and they should be the ones to take responsibility and spend more money to hire more people to get this done faster. The fact that they are behind schedule is not our fault its theirs and they have to bring in as many extra people as necessary to get it done. And if it cuts into the profits they were going to make, too bad.

Secondly, I really worry about the build quality if they are going to rush to finish. Although I want to see them finish on time. I don't want the contractors pressured to finish and cut corners and make mistakes.
 
Relieve Builder from Delayed Occupancy Compensation once we signed the Amendment?

MisterDerp said:
I'm in P2 but it sounds like people should definitely talk to their lawyer before agreeing. Here are some pics of the building I took today...Still a lot of work to be done.

http://imgur.com/a/Hq0iT#0
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I just received an Amendment regarding the occupancy date from the Builder today,**even i kept the orignal December date**. There is a clause that we agree to waive the claim against the builder regarding to Delayed Occupancy Compensation once we sign it. How should I respond to this? Need lawyer advise?!
 
bboat said:
I just received an Amendment regarding the occupancy date from the Builder today,**even i kept the orignal December date**. There is a clause that we agree to waive the claim against the builder regarding to Delayed Occupancy Compensation once we sign it. How should I respond to this? Need lawyer advise?!
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Talk to your lawyer.

I just spoke to mine today about how I verbally agreed to move my occupancy date. She said I'm not to sign anything that may be presented to me because signing could waive my right to compensation. And seeing your message I hear that the letter specifically says this.

I hope I get a letter in the mail about this. How long after your call did you get the letter?

My lawyer did say that if the first unit in our building was sold before June 2008 we are under the old Tarion laws - which means that it's max $100 compensation per day and receipts would be necessary. I know I bought August 2008. I was one of the first I thought... anyone know when the first unit would have been purchased?
 
MED said:
Talk to your lawyer.

I just spoke to mine today about how I verbally agreed to move my occupancy date. She said I'm not to sign anything that may be presented to me because signing could waive my right to compensation. And seeing your message I hear that the letter specifically says this.

I hope I get a letter in the mail about this. How long after your call did you get the letter?

My lawyer did say that if the first unit in our building was sold before June 2008 we are under the old Tarion laws - which means that it's max $100 compensation per day and receipts would be necessary. I know I bought August 2008. I was one of the first I thought... anyone know when the first unit would have been purchased?
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Just went to see the lawyer today: he advised me not to sign back the amendment unless the builder is offering us some compensation: like free upgrade or money credit towards the purchase price!
 
I think as others have said, it is probably best to have your lawyer review the paperwork that is sent regarding the changed occupancy date. It's interesting though that everyone assumes that the units are not going to be done at all -- has anyone else set up their pre-occupancy walk through yet? I am going through my unit on Dec 7th with the builder, so I guess on that day I'll know how complete everything is. I have pushed my move-in until January 15th, but was happy to hear that I still get the walk through in December. :)
 
When did you hear from them about booking your Dec 7th date? I'm still waiting to hear. My occupancy is Dec 15th still (I didn't volunteer to change it) so I'm hoping to walk through ASAP.

And I think SOME units will be ready for the 15th. Just not sure if all that have the 15th as their date will be ready.
 
hatfield said:
When did you hear from them about booking your Dec 7th date? I'm still waiting to hear. My occupancy is Dec 15th still (I didn't volunteer to change it) so I'm hoping to walk through ASAP.

And I think SOME units will be ready for the 15th. Just not sure if all that have the 15th as their date will be ready.
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Hey hatfield - they called me on Monday to set it up. They offered times between Dec 6-14th I believe.
 
Sangrael said:
What my mortgage broker told me is that the building has to be 70% occupied before the builder can register a condo corp. I'm assuming she knows what she's talking about, but I'm sure double-checking that can't hurt.
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A condo can be registered, under the City process, as soon as the building has been substantially complete and all outstanding fees (i.e. landscape letters of credit as associated with the Planning applications) have been paid. The registration occurs and a condominium corporation is created. The building does not have to be fully occupied and units don't all have to be sold in order for this to happen. The condo registration process takes about 6 months...can be more or less depending on certain factors. It's unusual for developers to register too far in advance because they know they'll be getting the money they need to keep other projects afloat through the interim occupancy fees. The best way to hurry the process is to get on the phone to the developer and keep asking them when it's going to happen.
 
Rikk said:
Any pictures.............

Rikk
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Wanted to see what the balconies looked like so I snapped this yesterday. Basic, but clean. I like it.

IMAG0381.jpg
 

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hatfield said:
When did you hear from them about booking your Dec 7th date? I'm still waiting to hear. My occupancy is Dec 15th still (I didn't volunteer to change it) so I'm hoping to walk through ASAP.

And I think SOME units will be ready for the 15th. Just not sure if all that have the 15th as their date will be ready.
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Dec 15 is Saturday. Can we take occupancy during weekend?
 
I was actually wondering a similar things re: occupancy. So you have a date, whether it's December 15th, January 15th etc. Generally on that day there is a bunch of work the lawyers need to do before they "release" the keys. I am wondering whether they will do any of that work before the actual day of occupancy -- often, with a house, you may not receive your keys until 5pm on that day. So then the question would be, whether your actual MOVING day is the next day -- and how you go about booking elevators etc when it is unclear when you'll have all the paperwork type stuff done. Anyone have a conversation with sales office about this?
 
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