Michelle C said:
Anybody receive e mails this week? No response coming through is not a good sign. Delaying as much as possible
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I haven’t received anything yet either… but I thought they were going to mail us the new APS. They used the Canada Post strike in December as a reason for delay…. *eye roll*
 
I had reached out KSV earlier this month and received the following response:

The initial set of letters to homebuyers have been sent. Amendments are being sent in phases to ensure an organized process, allowing sufficient resources to address meetings with purchasers and respond to all related inquiries.

We will receive our amendment letters before the Tarion outside date. Every purchaser will be given at least 30 days to review the offer.
 
My end I have communicated them of my decision to withdraw from the project and asked for Refund. From all the discussion here, what I understand is that, this is a long drawn battle before we see our Deposits back in our account .Because if it was straight YES or No types they would have rolled out the emails to all the pre-construction buyers and waited for their response to either send them the amended APS who agrees or send them their Refund thru Trust accounts. But the way these communications are happening by pick and choose method it looks like they are trying to see the reactions by choosing random people like me. Well I just received the email acknowledgment of them confirming of having received my decision to opt out and next process to follow. simple one liner followed up by another email from ELM asking me to confirm the contact info on their records. looks like they have based their APS amendments figures basis a booming real estate scenario whereas in reality the Condo prices are moving downwards on quarterly basis (some are even not able to offload their inventory in Toronto due to low demand ) since last quarter of 2024.In the present case for a "PATIO"1BHK measuring 555(INDDOR)+100(OUTDOOR) =655 sq ft the amended APS is 134k, just imagine for a higher sq footage the relative increase ....
 
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Has anybody reached out to their lawyer to discuss delays in deposit being returned? If so, any advice. KSV is not returning e mails, phone calls….even delayed in e mails, phonecalls and deposits
 
Michelle C said:
Has anybody reached out to their lawyer to discuss delays in deposit being returned? If so, any advice. KSV is not returning e mails, phone calls….even delayed in e mails, phonecalls and deposits
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Unfortunately, we are at KSV's mercy. Our deposits cannot be returned as our current APS is currently standing. We cannot break the APS...the only thing we can do is refuse the new APS, which will free us from the contract
 
UptownGirl said:
Unfortunately, we are at KSV's mercy. Our deposits cannot be returned as our current APS is currently standing. We cannot break the APS...the only thing we can do is refuse the new APS, which will free us from the contract
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At their mercy is correct, I must wondered if anybody has asked for legal advice somebody has to get these people going
 
Michelle C said:
At their mercy is correct, I must wondered if anybody has asked for legal advice somebody has to get these people going
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I did.... My lawyer told be that Purchasing Agreements from builders are never written in the favour of the purchaser especially if things go wrong (like in our scenario) ....the courts still recognize our initial purchasing agreement in good standing and KSV never did anything to technically violate the agreement (yet).....we are literally stuck in the contract
 
Photos taken on 19 Jan 2025
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