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Mode Lofts Condos (Cresford Developments) - Real Estate -

The J.D. Power and Associates: GTA Condo Builder Rankings in Customer Satisfaction came out earlier this week.

Cresford came dead last scoring 420 out of 1,000... the industry average was 620 and Tridel won with a score of 767 - so Cresford was far off the pace.
 
Just on the basis of this thread, Cresford is working very hard to maintain their status at the bottom.
 
Maybe because some people want to own what they live in. They might not be interested in handing over their money to a "landlord." Regardless, they can do with their money what they wish - regardless of what other people think is best.

What's with the borderline loftier-than-thou approach to this topic? If you want to mock people, come out and mock. Just be prepared to get back what you are wanting to give out.

I think it may be urbandreamer's attempt at being funny, by mocking people. He did it very early in the thread by admonishing people to do their due diligence first, but the admonishment was somehow fused with some crap about the stock market.
 
The fun doesn't end. I did manage to get through to Jerry Cino at one point on Sunday, to see if this credit could be applied to the Shuter site, since there are some units being sold by the builder available in there. First response was that it only applies to Caca and Nxt - but that he would look into it and call me back Monday. I'm still waiting. I've left him a few follow up messages, and no response. I'm starting to think that offer of a credit was just a PR stunt and they don't really plan to honor it - but it looks good in the letter.

I did talk to my lawyer. He said they had until Nov 1 to pull out of the project using that clause they put down as the reason. Even by their own admission, they've known this was blowing in the wind since at least April. Guess they had fun with our money. That interest rate they gave us was pitifully low compared to even a standard savings account. So nada we can do on that front from the sound of it. Best option may be just to warn anyone we can off of Cresford by detailing our experiences.

These fools truly never miss an opportunity to miss an opportunity. This company is quite simply a disaster. Never, ever purchase anything from Cresford.
 
I may wind up eating at least some of my words. Must have had the wrong Monday, cause the callback came a week later about Shuter. Unless they are just stringing me along, I may get a chance for using that credit yet.
 
At the risk of sounding flippant do you really want to buy a property from this developer. We purchased a condo from Cresford and our expereince with the workmanship was apalling. The communication was non-existant and we ended up spending well over 30K to bring the place up to acceptable standards. The technical audit is another matter. I know that 30K is a lot of money but I would personally never buy from this developer again no matter what kind of credit I was given.
 
I'm still waiting for my callback about using the credit for future projects, namely the one they are building in place of Mode.
 
I have never heard anything good about this developer and know many people who have complaints against them. Speaking from experience, if you are going to buy any condo whether new or resale, the fourth most important thing (after location, locataion, location) is the builder. This requires that you do some research or a very good realtor who is knowledgeable and is really acting in your best interests. Aside from the J.D Power survey, there's surprisingly little information out there on builders. One reason may be that few people want to advertise to others how they've been taken advantage of. However, a realtor who specializes in condos may be able to provide this information. If a realtor ever suggests you look at a Cresford building, I personally would find another realtor.
 
Last Call for all Mode Buyers

Just wanted to round up any final Mode buyers who have not signed the Mutual Release and are still hoping/holding out for a better settlement/outcome. I've located a group of lawyers who specialize in class action.

Please email me at sumbodyhelp@gmail.com
 
Cresford Developments - Class Action - Mode Lofts Cancellation

Just wanted to round up any final Mode buyers who have not signed the Mutual Release and are still hoping/holding out for a better settlement/outcome. I've located a group of lawyers who specialize in class action.

Please email me at sumbodyhelp@gmail.com
 
Cancellation of "Mode" Parking Spot Contracts

FYI
Cresford had taken deposits from Quad 1 and Quad 2 owners for the sale of parking spots in the future Mode. They had runout of spots and sold this "promise" in order to sell the remaining suites in Quad 1/2. I heard this week that this contract has now been cancelled as well. You may want to reach out to those folks.
 

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