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Some one in this forum told that our downpayments are under trustee and they could not touch it until closing. So I hope our down payments are safe.

May be he had educational guess like us or he might have some insider information. Anyhow we can’t go to Domick with this information. He would say it is false information blah. blah. blah. Dominick told me that VanDick could not find contractors in the month of June because of summer...

Once they officially cancel it. We would get it in 10 days. I am not sure if they would drag the decision till April 2025.

They are fishing. But I have asked him if he had any info on Vandyk and their financial issue is only with our project. He told that Vandyk has financial issue with all of their project as they are in huge debt because they tried to expand so fast. It seems like he did some research on Vandyk.

other than that our story only. Like what are they saying etc.

Nothing. He can’t say anything for sure. But he told that Vandyk has so much debt.

Got a call from global and mail. It seems they are writing a story on builders like Vandyk (failed/failing ones). It seems like Vandyk is in financial trouble. Not only for Uptowns also for their other projects. I don’t think we can have our hope high on Uptowns. :(

I have sent an email to globeandmail

Awesome. It seems they didn’t pay for Asset management company. Also seems like it impacts both of their heartlake projects. I believe that it would be just one of their many financial problems.

Thanks for the update.

Don’t think that I am pessimistic. I don’t think they would start construction at all. I made up my mind for cancellation. All odds are against us :( btw no one knows when would BOC reduce interest rate. I m not sure we could have our hope on that.

Hmm. So many speculation. Let’s wait and see.

I think. They can’t make another unavoidable delay without any critical reasons. In case they ask amendments for dates, they would like to amend the price as well.

Ignore that. It was just hypothetical situation.

Hmmm. Only time and VanDick will tell. But honestly I lost my trust in them. delaying projects is loss for them. They don’t care about their customers. If they cared we would have gotten our houses. So they won’t delay. If they feel they could not build on time they would cancel the project and...

Problem is. I am not sure if we can trust them for 2028.

if it comes to that they would amend the outside occupancy date for 2028. lol.

just 1 year and 7 months for outside occupancy date. I am not sure how could they meet deadline, with construction is on hold and no concrete plan to start. I have no hope. They are just delaying the cancellation.

How long it would to take for refund? Once the pre construction project is cancelled.

this project is stalled because of the negligence of the Vandyk. Covid, inflation are just excuses. They started selling well before covid and inflation. Because of their negligence we are in this situation now. Builders won’t lose a penny. In fact it would be gain for them. They just sell the...