Search results

Sounds good, let’s keep tabs on this. I’m definitely in.

Do you think we can? What are the conditions in which class action would be accepted? Also they’d have to still be in business after this receivership? But hell yeah I’d be down for that.

This is the funniest thing I heard all month 😂 Oh well at least we know the outcome now, just waiting to get my deposit and buy a 1 bed micro condo 350 sqft 😂😂

Are you stuck in some vandyk properties too? I’m emailing my lawyer and Vandyk’s lawyer, that I would like my deposits back due to Uptowns cancelling and in receivership. See if I can get it sooner lol. I really don’t want to wait 10 years.

Who are the lawyers again holding the deposits?

Thanks for the info!

what happens to project If In receivership?

What happens if a project is in receivership?

Just called the office, only extension or directory. No more reception. Looks like office is shut down.

You seem to know them well. Have you worked with them before, or purchased a unit? And from your experience, do you think they are just buying time and will cancel the project?

At least cbc and globe and mail got an article out. Hopefully it helps us or others in some way.

I remember in 2017, 1 bed condo towns were selling for 330k, 3 bed condo towns were selling for 570k. These price were same as Vandyk selling prices in the fall of 2017. Those prices were very affordable, Vandyk buyers could have opted for that purchase instead at 5% down with cmhc insurance.

What we should be doing is lobbying for government and tarion to ensure more protection for buyers. And more accountability for builders, and higher standards to be able to build and sell. Focus on fixing the system and helping others, and ourselves in the future.

I get it. But I just don’t tend to focus on the negatives I can’t change. Am I upset I missed out on like 500k—600k equity gain, my brother and I got a unit each. But ultimately, it is what it is. It’s the system. Vandyk isn’t the first, they won’t be the last. We’re not the first to get...

I blame government and tarion for having such a loose system. Government has power to help consumers / protect consumers, but doesn’t do anything. As I mentioned before, we should not focus on what happened and cannot be changed. Instead how to make the most of the deposit back, albeit in...

questions to ask: Why did city allow sales? Why did lawyers proceed with representing vandyk in sales? The system is fraud. Why

This is a game played by builders, within the construct of the system. They’re running a business, and under harsh circumstances (tough land, covid, inflation), have to make choices like this. It’s unfortunate, but as preconstruction buyers hoping to make big bucks on a fraction of gains...

Knowing what will happen and it’s just time. We should then this thread/group into opportunity. Any ideas on what we could do with the deposit? Maybe partner up to start up a business or buy a lot and build some units and sell for profit. When life gives you lemons make lemonade.

I’m not angry at Vandyk tbh. It’s covid plus the system that did this.

Definitely. They’re taking a hit by doing this, future opportunities will be hindered now, people doing business with them, as well buyers and realtors. And they lost a ton of money too I’m sure. Everyone is losing.