Quantcast
Colors by Batistella - Beyond.ca - Car Forums
Results 1 to 9 of 9

Thread: Colors by Batistella

  1. #1
    Join Date
    Dec 2004
    Location
    Calgary
    My Ride
    Porsche Cayenne
    Posts
    32
    Rep Power
    0

    Default Colors by Batistella

    I am not sure if anyone has heard of this project but my friend is building a condo unit in this tower and has ran into a problem with the builder. The builder has asked all of the purchasers who purchased prior to Jan 06 to repurchase their suits at a higher per\sq price wich makes the suit cost the buyers approx another $80k. The dilemma is that even at this price, the buyers are still up quite a bit of cash since they purchased a a low price but regardless is this legal? I know that others have tried this and coincidentally have had their projects cancelled cause of lack of funding. As far as I know, there is nothing in the contract stating that they can resell units for higher pricing and basically the builder is stating that if buyers do not agree to the new terms, that the project will be terminated due to lack of funding. I heard that something like this happened with Skytower and they tried to cancel the project but the buyers threatened to file a lawsuit agains the builder. Any info\experience is appreciated.

  2. #2
    Join Date
    May 2002
    Location
    YYC
    My Ride
    BMW E70
    Posts
    1,195
    Rep Power
    11

    Default

    There has been lots of projects that this has happened to. We had purchased a unit in Union Square which got refunded "Due to City Zoning problems." Gateway Mid-Town refunded deposits and re-sold them at a 30-40% premium.

  3. #3
    Join Date
    Jun 2006
    Location
    Calgary/Kelowna
    My Ride
    Lives in the left lane.
    Posts
    552
    Rep Power
    8

    Default

    that is some bulllllllll shit
    DOES ANYONE NEED A GO-JUICE?

  4. #4
    Join Date
    Nov 2002
    Location
    calgary
    Posts
    1,188
    Rep Power
    11

    Default

    its happened everywhere in the city...and yes it is legal if you read the contract.

  5. #5
    Join Date
    Jan 2003
    Location
    Calgary, AB
    Posts
    118
    Rep Power
    0

    Default

    He should be lucky the builder didn't pull the carpet out of under him...

    +1 for being screwed by Apex (union square). Me too.

  6. #6
    Join Date
    May 2005
    Location
    Calgary
    Posts
    205
    Rep Power
    0

    Default

    Very legal and unfortunately becoming very common. Your friend should read the contract and see if they can do this increase more than once. I read in the paper re: gateway downtown that particular builder can only do this once and forfeits the ability to ask for more later on.....however, I believe this is builder to that specific.

    If there is no provision regarding the number of times they can increase prices, it might be wise to re-think this purchase...since this price increase will put them even with today's prices anyways.

    Just my 0.02.

  7. #7
    Join Date
    Dec 2004
    Location
    Calgary
    My Ride
    Porsche Cayenne
    Posts
    32
    Rep Power
    0

    Default

    thanks for the info guys, actually we have showed the contract to the lawywers and the weird thing is that there is no clause in this contract stating that the can increase the price or that they have the option to re-write the contract. As per the builder they have already had 70 buyers take take the new contract wich generated the builder enough capital the make the project a go. We figure that if 70 people went through with it that at least half of them consulted a lawyer who told them that it was the way to go.

  8. #8
    Join Date
    Jun 2003
    Location
    YWG
    Posts
    3,119
    Rep Power
    12

    Default

    Anyone who buys a condo at the groundbreaking and thinks that they will keep it at that price are going to get a rude wake up call.

    Almost all condo buildings are being "cancelled" and then restarted at a higher rate per sq ft.

    Deal with it. Or buy a house.

  9. #9
    Join Date
    May 2005
    Location
    Calgary
    Posts
    205
    Rep Power
    0

    Default

    Originally posted by sputnik
    Anyone who buys a condo at the groundbreaking and thinks that they will keep it at that price are going to get a rude wake up call.

    Almost all condo buildings are being "cancelled" and then restarted at a higher rate per sq ft.

    Deal with it. Or buy a house.
    True, the time to build a high rise condo vs. a house can be sometimes several months to year(s) longer. The risk that the price increases over that time is so much bigger with high rises - hence what we are seeing at Colors, Gateway, etc.

    I thought about buying into the new Keynote property downtown but got scared away with the huge increases builders are demanding. I'm going to buy an older condo or a house instead.

Similar Threads

  1. Car Colors

    By skc435 in forum Mechanical
    Replies: 3
    Latest Threads: 05-12-2004, 06:49 PM
  2. 350z exterior colors?

    By cbr_ryder in forum Cars, Bikes, Machines
    Replies: 5
    Latest Threads: 05-10-2004, 10:03 AM
  3. how to match colors

    By oldscool in forum Photoshop Gallery
    Replies: 2
    Latest Threads: 04-13-2004, 02:50 PM
  4. Interesting Benzo colors....

    By ZorroAMG in forum Cars, Bikes, Machines
    Replies: 10
    Latest Threads: 03-17-2004, 11:49 PM
  5. Do Some Car Colors attract Cops?

    By Anber in forum General Car/Bike Talk
    Replies: 28
    Latest Threads: 10-24-2003, 03:44 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •