Metro Vancouver condo builder accountability

[joeyiltlibw]

Originally Posted by bluefox

As jlousa has thoroughly covered, these are the potential pitfalls of doing condo presale. It's not about accountability in the end and if it was (because the builder has broken the contract or purposefully misled you in some form as stated), you'd have a leg to stand on. From what you've said the usable area of your suite has only decreased 3% which is within the variance allowed the developer. It's in your contract of purchase and the developer has it in their disclosure statements before you sign.

While I'm sure most of us empathize with your situation, you aren't going to find much sympathy on here, because at the end of the day you still own something that will appreciate in value regardless of your feelings toward the developer.

Most importantly: I strongly suggest that if you are considering legal action against the builder, you stop posting on a public forum.

At this late in the game no amount of empathy will help. It is easy for those of you not personally affected to talk easy, you not burnt by fire, you never feel the pain. I will continue to post so that potential buyers will learn about my story, so that no more people became victim. It is therapeutic for me to help other not be victimized.

[joeyiltlibw]

Originally Posted by 2009

That sucks but honestly you shouldn't be relying on illegally renting out a closet to make the mortgage payments. They may market it as a 2 bedroom but if it doesn't have a window or second way of egress and it's own heat than it's not legally meant to be slept in regularly

It's a risk to buy presale, there are plenty of actual 2 bedroom condos for sale in the same price range in existing buildings if you really needed a room to rent. A 3.2% sq footage variance isn't unheard of

You have some options- talk to a lawyer and try to get your deposit back, live with it as is and pick up some extra work, rent out the entire unit, or sell it (and take a small hit) and buy something with a real 2nd bedroom. You may be upset but it isn't the end of the world

Hind sight is 2020. The point is I am robbed of 20 sq feet no matter how you look at it. If I decide not to rent out the second bedroom I would still have a second decent sized room to entertain guest. More importantly when I sell, I do not have the square footage to sell at market value. Don't point the gun at me, Instead of blaming the assailant, you blame the victim.
Like I said I cannot afford a lawyer . The disgusting thing is ,they dont even allow you to get out of the contract. Too late for me, but I want other people to learn not be vitimized.... learn who not to buy from.

[joeyiltlibw]

Originally Posted by bluefox

As jlousa has thoroughly covered, these are the potential pitfalls of doing condo presale. It's not about accountability in the end and if it was (because the builder has broken the contract or purposefully misled you in some form as stated), you'd have a leg to stand on. From what you've said the usable area of your suite has only decreased 3% which is within the variance allowed the developer. It's in your contract of purchase and the developer has it in their disclosure statements before you sign.

While I'm sure most of us empathize with your situation, you aren't going to find much sympathy on here, because at the end of the day you still own something that will appreciate in value regardless of your feelings toward the developer.

Most importantly: I strongly suggest that if you are considering legal action against the builder, you stop posting on a public forum.

You missed the point that builder selectively target i unit out of the 9 and completely ignore any responsibility . They never gave plan A5 owner any option until owners discovered it on walk thru. If that is not purposely being deceitful , I dont know how to describe such action. I am already tight with money because of Covid19, where do I find that kind of money to hire a lawyer. They probably tell me the same nonsense that it is within allowable variance. If they cannot truly advocate for, what is the point of spending more money. Instead of giving me more advice on hiring a lawyer, best that you pass on my story so that no more people become victimized. Very important to find accountable builders.

[2009]

Originally Posted by joeyiltlibw

Hind sight is 2020. The point is I am robbed of 20 sq feet no matter how you look at it. If I decide not to rent out the second bedroom I would still have a second decent sized room to entertain guest. More importantly when I sell, I do not have the square footage to sell at market value. Don't point the gun at me, Instead of blaming the assailant, you blame the victim.
Like I said I cannot afford a lawyer . The disgusting thing is ,they dont even allow you to get out of the contract. Too late for me, but I want other people to learn not be vitimized.... learn who not to buy from.

Real estate is sometimes like this, not everything works out. I've definitely lost thousands because of unexpected repairs, deficiencies and missinformation in listings. It's not fun. Look at what happened to people who bought leaky condos in the 90s

Yes the developer gave you the short end of the stick but it seems to be still legal

If you hold on to your property for long enough it will appreciate though

I'm sorry for your bad luck, it's definitely a dog eat dog world. Developers exist to make money and unfortunately many don't care that much about their customer once they have your cash

[joeyiltlibw]

Originally Posted by 2009

That sucks but honestly you shouldn't be relying on illegally renting out a closet to make the mortgage payments. They may market it as a 2 bedroom but if it doesn't have a window or second way of egress and it's own heat than it's not legally meant to be slept in regularly

It's a risk to buy presale, there are plenty of actual 2 bedroom condos for sale in the same price range in existing buildings if you really needed a room to rent. A 3.2% sq footage variance isn't unheard of

You have some options- talk to a lawyer and try to get your deposit back, live with it as is and pick up some extra work, rent out the entire unit, or sell it (and take a small hit) and buy something with a real 2nd bedroom. You may be upset but it isn't the end of the world

You got that exactly right , why are they even allowed to market it as junior 2 bedroom and charging $10000 price differential for that second bedroom which
Is not legally meant to be slept in regularly. Being first time buying I totally fall prey to it . Willingly fork out $10000 more to what turns out to be nightmare. Builder has no clue how much trauma it caused .... May be they do because they comfortably hidden behind an all mighty contract clause which protects them from all sins.
Another point I want to bring out is I am a salesman , because of Covid 19 , I may be relocated. Renting out my suite becomes more problematic because 1 bed room and den limits potential tenant mix. On Craigslist I cannot advertise as 2 bed room and 1 bath for rent. Hence less rental income.

[scryer]

Originally Posted by bluefox

While I'm sure most of us empathize with your situation, you aren't going to find much sympathy on here, because at the end of the day you still own something that will appreciate in value regardless of your feelings toward the developer.

Most importantly: I strongly suggest that if you are considering legal action against the builder, you stop posting on a public forum.

Exactly.

Creating a new account just to flex moan on a public forum about city development is quite superficial. You should be thankful that you have the privilege of being able to actually own RE in Vancouver during a housing crisis as there are many, MANY that wish they could.

[joeyiltlibw]

Originally Posted by scryer

Exactly.

Creating a new account just to flex moan on a public forum about city development is quite superficial. You should be thankful that you have the privilege of being able to actually own RE in Vancouver during a housing crisis as there are many, MANY that wish they could.

I cant believe your callousness, that people like exist.
The purpose of this thread is to expose unaccountability of any builder. In this case is Thind development/ Beta View homes Ltd from my experience. Other buyers can also use this platform to expose any other builders with legitimate complaints. the purpose is to hold builders be accountable. More importantly hopefully teach other buyers about our painful lesson.

The comment that I should be thankful that I own RE is sarcastic and hurtful. If your want to buy a size 10 shoe, they gave you a size 8. At least you can return it , no question asked. I am stuck with an extra $30000 mortgage tied to 25 years amortization.

You are blaming the victim for starting a thread to warn other buyers. You are shooting the messenger and the whistle blower. You don't have to read this thread , there are many out there naive people like me who need learn from my painful lessen.

If you think I am so lucky , I assign this property to you.

[jlousa]

I'm closing this thread. You were cautioned against opening it to begin with and you went ahead regardless. This forum is not for airing your personal grievances. Good luck with your situation and hopefully you and others have learned from it.