Buyers Beware, Condo Developers May Sue if You Don’t Complete.
January 23rd, 2009Well this really is not a surprise, but it is just something that we have not really seen much of before. A couple in North Vancouver is now involved in a Lawsuit with a developer for not completing on a pre-sale contract. The Developer is going after 7 in total right now. Read full details in the Vancouver Sun.
In the past Developers would not have had much case as they usually gained from being able to re-sell units in a higher market. Now they are on the other end. If you have a pre-sale contract and you are considering not completing on it, it is best to go through all options with the developer and get legal advice before making any moves.
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