Ivy Condos (Dream) - Real Estate

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Hi folks and some of you future neighbors...

I'm occupying on Feb 20, so see y'all soon.

choudan said:
My "FIRM" occupancy date has been delayed from January 26 to February 15.
I highly suspect that it will be delayed again, because the building and the public space inside it appear far from completion.
What do you guys think?
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Typical scenario for new builds. Common areas/elements and amenities won't be ready at occupancy. Be prepared for lots of ongoing construction and trades over the upcoming months. I believe they won't bother even putting in finishing (wallpaper, carpet, etc) until the trades are all done - in case of damages during the occupancy/deficiencies phase.

Lambda1221 said:
12 post dated cheques. Does that mean one-year for the closing?
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Standard practice to ask for 12 cheques - they will finish occupying the building (from bottom to top), and then register the building. When that is complete, they will prepare for the final closing. Based on my occupancy and the floor I'm on, I suspect they'll probably be the early summer when they finish occupancy and then add three to six months for final closing. But from what I understand, builders are somehow incentivized (if anyone has an explanation, I'd love to hear the theory) to get their final close done ASAP. To your comment - it can be a year, or more or less. Hopefully sooner than later. (If they go past the 12 months, they'll send you a request for more cheques). Totally out of our control at this stage.

Lambda1221 said:
Lobby pic. It was taken on Feb 5th when we did our PDI.View attachment 538884
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Already looks better than when I did my PDI mid Jan.

wayne2023 said:
My monthly payment is monthly common expenses +realty Taxes + interest on Deferred purchase monies = over $ 3000😰
What about you guys
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Think I'm around $2400. The posted 7.84% rate is killer. Monthly common expenses are really high as well - 88 cents psf. Way different from back in the day where builders advertised at 65 cents psf. Still waiting to see the builders budget statement - they were delayed at my signing session with the lawyer. And this is (probably) not including the recently announced property tax increase. Plug in a better interest rate (5 year variable instead of a 1 year for example) and you'll get an idea of your future carrying cost.

Cheers

PS: I just went back to my price sheet when I bought the project in 2017, and it was quoted for 0.56 psf... lmao
 
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Is there anyone who will pick up the keys tomorrow? I will pick up the keys from 2 to 4 pm the day after tomorrow. Please send some photos of the lobby when the time comes
 
wayne2023 said:
Do you have any notify from builder to pick the key?
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Sign the signature and check at the lawyer's office. They gave me a guideline and told me to bring my ID and go to the ivy property to pick it up from 2 to 4 o'clock on the 16th.
 
I see . I went to the Lawer on Monday already. My occupancy date is tomorrow. But do not know when and time to go pick up the keys yet? Is Lawer will notify me?
 
wayne2023 said:
I see . I went to the Lawer on Monday already. My occupancy date is tomorrow. But do not know when and time to go pick up the keys yet? Is Lawer will notify me?
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Looking at the documents you got back, there is a separate document given by Dream. It is not long and contains the time, place and phone number for picking up the key.
 
willwu said:
Looking at the documents you got back, there is a separate document given by Dream. It is not long and contains the time, place and phone number for picking up the key.
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Did you finish submitting the resident info, and received a confirmation back from Property management?
 
Lobby ok. But inside building still have a lot to catch up. And many people thinking the management fee is very to start with no swimming pool and so on …
 
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