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Unity Builders Group files for Creditor Protection
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Last edited by Cos; 01-01-2017 at 08:46 PM.
Originally posted by adam c
Line goes up, line goes down, line does squiggly things and fucks Alberta"The stone age didn't end because we ran out of stones"
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Last edited by Sugarphreak; 07-09-2019 at 06:13 PM.
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possibility for cheap homes?
Its not only about money. Its about freedom, friends and family too.
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Last edited by Sugarphreak; 07-09-2019 at 06:13 PM.
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me too, i have until thursday for our firm date for the deposit. Currently dealing with valmont aspen division.Originally posted by Sugarphreak
I am in the process of negotiating a deal with a luxury home builder right now, seriously thinking about backing out after reading this...
Anyone else in the same boat?
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Last edited by Sugarphreak; 07-09-2019 at 06:13 PM.
Hayan Namja
where are you building sugar?
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
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Last edited by Sugarphreak; 07-09-2019 at 06:13 PM.
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Lol I didn't see who you were replying to at first and I thought you were getting fresh with someone.Originally posted by benyl
where are you building sugar?
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I finalized a deal in currie barraks with greenboro last oct. I went down to the build site and saw numberous trades still working away over the weekend.
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Yeah, we're seriously considering backing out.Originally posted by Sugarphreak
That is Unity Builders project, I'd be backing out of that for sure!
I am dealing with Homes by Avi, not sure what their finances are like, but this has me spooked.
The sale rep. was insisting that business would be normal, because valmont has been doing quite well and there shouldn't be any issue. I'm thinking its unnecessary risk.
Slanty Gwai Lo
Originally posted by Sugarphreak
10% of that owed to trades... that is actually going to hurt some people locally
Hopefully the little guys (1-5 men teams) don't get royally fucked.
Updated: March 10, 2022
My list of random For Sale (some free) stuff
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Is you fear then, as a buyer, that you're going to put your deposit down and UBG won't be able to finish the project because their creditors will try to collect from them?
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I worry about them cutting corners because of their own internal crisis. After completion, who knows what kind of support you might get. Also if the company goes down before project finish, we may not get deposit right away, or at all. A little bit paranoid.
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Depending on whether the construction lender is allowing deposits to be used as equity or not will determine whether you can get the deposit back. Most of the construction projects that I've seen, purchaser deposits are held in trust at a lawyer.Originally posted by punky
I worry about them cutting corners because of their own internal crisis. After completion, who knows what kind of support you might get. Also if the company goes down before project finish, we may not get deposit right away, or at all. A little bit paranoid.
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deposits are protected under alberta new home warranty
http://anhwp.com/documents/FAQ/HowIs...tProtected.pdf
Hayan Namja
Yes, but only to $100,000
Depending on the area, the developer, the builder, you might have to buy the lot, or 50% of the lot, or 20% or etc... that might add up to more than $100K.
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
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The warranty really needs to be rewritten. It doesn't protect you unless your house is falling down. My friend bought a house in the late 90s in signal hill and the foundation is like a sieve. He didn't get any warranty help at all for his 1 year old house...he had to sue the builder to get it fixed.Originally posted by benyl
Yes, but only to $100,000
Depending on the area, the developer, the builder, you might have to buy the lot, or 50% of the lot, or 20% or etc... that might add up to more than $100K.
Hayan Namja
ANHW doesn't cover anything and they do their absolute best not to cover things.
It needs to be abolished as it is completely useless.
My Tesla referral link: https://ts.la/moon14483
Tesla new owner FAQ: https://forums.beyond.ca/threads/411...37#post4928237
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Sorry to bring up a year old thread.
Anyone else affected by this? Over a year later, UGB/Valmont has sold the entire project to another developer. Now the new developer is asking for extra money to cover the added cost, or they give back your original deposit. UBG screwed a lot of people over, by saying they have approved financing and the project construction will continue.
We have a deposit on one unit, that we're considering walking away with our deposit. Our cost difference isn't much, but others have their's increased $20K+
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