Waterworks (MOD Developments) - Real Estate -

i wonder how long until we're allowed to use our balconies? our realtor told us 2023 in the PDI and I really hope she was joking. with Ontario's never-ending stay-at-home orders it would be nice if they unlocked the balconies for each side as soon as that side was complete, instead of waiting for all sides to be done. Really don't want to spend the summer locked in :(
 
ermington said:
i wonder how long until we're allowed to use our balconies? our realtor told us 2023 in the PDI and I really hope she was joking. with Ontario's never-ending stay-at-home orders it would be nice if they unlocked the balconies for each side as soon as that side was complete, instead of waiting for all sides to be done. Really don't want to spend the summer locked in :(
Click to expand...
I know some of the project team and I can tell you every effort is being made to get the balconies open. Some lower floors will be open sooner than later. It won’t be 2023 😉, but more likely mid summer for the majority of units. It’s all hinges on the safety of installing the exterior paneling.
 
River_777 said:
I know some of the project team and I can tell you every effort is being made to get the balconies open. Some lower floors will be open sooner than later. It won’t be 2023 😉, but more likely mid summer for the majority of units. It’s all hinges on the safety of installing the exterior paneling.
Click to expand...
That’s great info, thank you. Any inside info as to when registration is anticipated and if the pandemic may delay that?
 
Right on Ash. My wife's rental unit has an interim closing date of May 31st. She will have to pay interest of around 2.8% on the unpaid balance of the purchase price as part of the monthly expenses. She has cash available to pay off the full amount now. We requested the developer to let her do so but was turned down.
 
"Because right now we are paying occupancy fees which do not go toward a mortgage."

Yes I suppose but then again why would you want to pay towards amortizing a mortgage sooner rather than later? I suppose if the fear is that interest rates will go up you want it sorted now. Personally I don't mind if they take a long time to register. I prefer it. I think this makes the most sense particularly if you have the money to pay it in full right now. It seems like everyone is getting assessed an interest rate of 2.79% I think this is high. It should be around 2.49% I don't know if the owners should make a stink about it. Still, cash flow wise it is much better than starting to amortize a mortgage.
 
Following this thread. I'd be interested in renting a 2 bed / 2 bath if occupancy is starting.
 
Natnook said:
Right on Ash. My wife's rental unit has an interim closing date of May 31st. She will have to pay interest of around 2.8% on the unpaid balance of the purchase price as part of the monthly expenses. She has cash available to pay off the full amount now. We requested the developer to let her do so but was turned down.
Click to expand...
That doesn't surprise me! This unit was going to be a rental unit for me too but I have decided to move in now and rented my old place out. My family and I also bought a unit on the 8th floor which we will be renting out, occupancy closing is tomorrow. I will be getting a mortgage for both so am hoping for a speedy registration. Occupancy fees are such a waste!
 
Just had my PDI on Monday. Suppose to take interim occupancy tomorrow. I am extremely unhappy with the state that my unit is in. I would be patient with this but there is no communication from client care. They also gave me such a short period between PDI and Occupancy. I have issue that can not be addressed after I take occupancy. I had very urgent quires that need dealing with. They should change their name to client lack of care and ambivalence. Also I am not happy with Miller Thompson. Who sends faxes these days?
My best advice is be aggressive. They obviously only care about squeaky wheels!
 
Pink Uranus said:
Just had my PDI on Monday. Suppose to take interim occupancy tomorrow. I am extremely unhappy with the state that my unit is in. I would be patient with this but there is no communication from client care. They also gave me such a short period between PDI and Occupancy. I have issue that can not be addressed after I take occupancy. I had very urgent quires that need dealing with. They should change their name to client lack of care and ambivalence. Also I am not happy with Miller Thompson. Who sends faxes these days?
My best advice is be aggressive. They obviously only care about squeaky wheels!
Click to expand...
Sorry to hear that your PDI went so poorly. If you don't mind sharing, what were the problems? Just curious because I have my PDI coming up in a couple weeks and want to know if I should keep my eye out for anything in particular.
 
You must log in or register to post here.

Back
Top