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Mode Lofts Condos (Cresford Developments) - Real Estate -

Real Estate Agents

Just out of curiosity, how many of you purchased your units with your own real estate agent present, as opposed to just walking in and registering with the sales office. I'm wondering for those who did not go in with an agent, did the sales office offer any kind of discount to make up for the 3% they would have had to pay to a real estate agent? I went in with my own agent myself.

Also, I think if we needed to contact more purchasers, we should contact as many real estate agencies as possible. They should have a record of every property their agent's sell and in turn relay information which may impact their clients. Just a thought.
 
It doesn't matter if you used an agent or not.. The price on these units are the same. If you chose not to use an agent, then esentially you waived your right to representation.... There's no discounting provided.

We can try contacting all 27 thousand real estate agents in Toronto, but I highly doubt it would be an effective way to get a hold of all buyers. We can try contacting all hundreds of real estate offices in Toronto, however, I doubt they would a) the information readily available b) able to provide the list to us...

BTW, has anyone received their letters yet? What's taking them so long?!?

I also called and email Paul at least five times.. I have not yet received a response...

Let's bombard his inbox with our inquiries...
 
Has anyone ever heard of such poor business practices?

Clearly they are 'lining up all their ducks' before they send out the letter - surely in talks with their lawyers every day

Im not sure if their is an 'optimal' number of buyers that we need to have should we decide to take legal action (now we have about 8-10) - Perhaps much more than this would be too cumbersome to organize?
 
I bought the unit through and agent and I agree, I think the prices would have been the same if I bought it on my own. As for the letter, I actually got to talk to Paul on Friday after calling and complaining several times to the receptionist. He said that we should get the letter early this week. He could not discuss anything on the phone with me but apparently after we get this letter, a rep will call us and book an appointment to see us. I'll keep you all posted. I agree, keep calling their office in the mean time, you'll hear that this Paul guy is constantly in meetings, but keep trying anyway...we need to increase the pressure on these losers.
 
I was just curious because my agent is going to give me a kick back when he gets paid, approx 1% cash back. That's a good sum of money in my books. It's too bad most people don't know they can negotiate this with the agent and the developer in turn gets to save the 3% instead of giving the client a break on the selling price. Did any of your agents do this for you?
 
Just a note here:
Surely they want to arrange "Individual" meetings becuase they dont want us to work as a group -
We will not get anything of siginicance if we work individually.

lets make sure we communicate with eachother about :
1- when we get letters
2- what they say in the letters
3- when the 'meetings' are with the reps
4- what they 'offer to us'
 
I think that's a great idea to work as a group and I'll make sure to let you guys know all the details as soon as I receive my letter!
 
I agree, I like what we are doing so far. Perhaps we may bump into other buyers when we meet with the rep.

Anybody want to guess on what they will offer us? Anyone still think this project is cancelled?

If it's not cancelled, i'm guessing the following changes:

1. Lowered Ceiling Height to around 9 feet
2. Standard Appliance and furnishing changes
3. Unit size reduction of 5%
 
I'm in this boat too...

Voice mailbox is full, website is gone and when I did walk by and catch someone around the site, they just said that the building was being modified and that letters were to go out soon - but that was a couple of months back and I haven't had luck finding anyone around there again. If any of you do hear back from these clowns, I'd be glad if you'd let me know since I seem to be getting no where fast.
 
bansell@rogers.com said:
Voice mailbox is full, website is gone and when I did walk by and catch someone around the site, they just said that the building was being modified and that letters were to go out soon - but that was a couple of months back and I haven't had luck finding anyone around there again. If any of you do hear back from these clowns, I'd be glad if you'd let me know since I seem to be getting no where fast.
Click to expand...

Try the top of the Cresford food chain with your email inquiries (not sure if it works though):

dcasey@cresford.com
 
breaking news

I just got the letter, project has been cancelled, they will refund our deposits plus interest!
 
I guess that's the inevitable.... We are all expecting it. Can't wait to check my mailbox when I get home. Did they mention anything about this "meeting" with a Cresford Rep? Are they offering any incentive to buy into another Cresford project?
 
I guess this means we are now officially screwed. Looking forward to seeing this letter. Needhelp, could you please post the content of the letter e.g. Interest rate? Meeting? Options on other projects?
 
Got my letter as well

They are giving us a 30k credit to purchase into another site of theirs. This cancellation is sickening
 
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