saichetan1991
New Member
For those looking for updates, receiver shares them periodically on their website - https://www.ksvadvisory.com/experience/case/vandyk
Check out "Notice to home buyers section", latest being the one from 26 Jan' 2024 on Buckingham condo project.
For any home buyers that paid deposits, it is being held in a trust account and 100% of the deposit is protected by Aviva and this would not change even if the builder goes into bankruptcy or receivership (confirmed by https://www.westmountguarantee.com/ who offered this additional deposit insurance to the builder). 100% of the deposit + interest will be returned to the purchasers when receiver makes a decision on the next steps for this project and if/when purchase agreements are cancelled.
Check out "Notice to home buyers section", latest being the one from 26 Jan' 2024 on Buckingham condo project.
For any home buyers that paid deposits, it is being held in a trust account and 100% of the deposit is protected by Aviva and this would not change even if the builder goes into bankruptcy or receivership (confirmed by https://www.westmountguarantee.com/ who offered this additional deposit insurance to the builder). 100% of the deposit + interest will be returned to the purchasers when receiver makes a decision on the next steps for this project and if/when purchase agreements are cancelled.