The Gloucester on Yonge (Concord Adex) - Real Estate - was The Clover on Yonge (Cresford)

Not a lawyer, but wouldn't that be contrary to the building application? I thought they tallied up the balconies as part of their outdoor common area allotment?
 
rabbie said:
I guess the extra 30k is for the 1k per floor premium not your balcony.
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No it is 2 different fees. We paid $1000 per floor; in the price list sheet it said
“30,000 one time fee for unit 13 level 26 and higher for larger balcony and better view” . In my purchase agreement it also indicated full balcony in Schedule A”.
 
Stefan said:
You need to check the Architectural Plans on the Development Application site for the respective project. The builder needs to follow these plans when constructing the building as that's what gets submitted to the City of Toronto.

And if that's different than what gets built, then I don't know. Any lawyers who could chime in? Is that grounds for a lawsuit?
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The builder didn’t even contact impacted unit buyers for this change, they were quite surprised that I made complaint, apparently I am the only unit 13 buyer called them. Of course who would notice that? There is no notification or email or signature required, nothing at all. I am sure the other 16 buyers will find out the day they close the deal....
 
If the unit is above certain floor, then buyer paid 20k or other amount one-time fee besides per floor 1k. I don’t know if your 30k covers that onetime charge.
 
I have the price list with me , at the bottom of the list, it listed 4 points as “floor premium” I paid 3 of the 4, “1000 per floor”, “10,000 for floor 22 or above for preferential views” and “30,000 one time fee for flowerlace model on floor 26 and above to accommodate increased size balcony and preferential views”. The only one I did not need pay was the 4th one, 10,000 for 32 floor on other 2 models.

The floor plan also showed bigger balcony as 111 sq for floor 26 and above, instead of 60 sq for floor 25 and below.
 
Happylife said:
I have the price list with me , at the bottom of the list, it listed 4 points as “floor premium” I paid 3 of the 4, “1000 per floor”, “10,000 for floor 22 or above for preferential views” and “30,000 one time fee for flowerlace model on floor 26 and above to accommodate increased size balcony and preferential views”. The only one I did not need pay was the 4th one, 10,000 for 32 floor on other 2 models.

The floor plan also showed bigger balcony as 111 sq for floor 26 and above, instead of 60 sq for floor 25 and below.
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Of course we don't have your full APS will all the terms and conditions, but it sounds like you have a claim for breach of contract, or at least to not have to pay that premium.
 
Happylife said:
I have the price list with me , at the bottom of the list, it listed 4 points as “floor premium” I paid 3 of the 4, “1000 per floor”, “10,000 for floor 22 or above for preferential views” and “30,000 one time fee for flowerlace model on floor 26 and above to accommodate increased size balcony and preferential views”. The only one I did not need pay was the 4th one, 10,000 for 32 floor on other 2 models.

The floor plan also showed bigger balcony as 111 sq for floor 26 and above, instead of 60 sq for floor 25 and below.
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Have you spoken with your real estate lawyer? They'll know if you have a chance at walking away or getting some money back. A lot of your case will depend on your signed contract (I assume the size of the balcony is included). You should also let them do the talking over connecting with the developer directly.
 
Is cresford bankrupted? I think the new owner is going to re-sell clover at current market price . What will happen to those old buyers?
It sounds like a scam to me and is this actually legal?
When you take over a business, don't you take over their old contracts and debts too?
 
Old buyers has contract of unit. What my lawyer friend told me is, If new buyer will relaunch clover then old contract is no longer valid. Clover can’t be relaunched at its current stage. So even there is new buyer inherit cover, it can’t simply resale units... but need to finish project. hope my friend is right.
 
Gbc said:
Old buyers has contract of unit. What my lawyer friend told me is, If new buyer will relaunch clover then old contract is no longer valid. Clover can’t be relaunched at its current stage. So even there is new buyer inherit cover, it can’t simply resale units... but need to finish project. hope my friend is right.
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That's what i thought too. You take over their business you need to take over everything including assets, contracts and liabilities.
 
Even through condo unit contract is toward protect developer, contract is still contract. Mike, did your vvvip agent told you otherwise?
 
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