Dover wharf condos, port dover, ontario | Leslie lee continues to engage in questionable real estate practices in promoting and selling condos located in port dover, ontario. The promotion of the condos on the dover wharf website in the recent posts section under “now taking reservations” tab states, “you can reserve your favourite unit pre-construction, holding the location, the unit, and the price, with your $5,000 deposit held in trust”. However, people, who have entered a reservation agreement approximately two years ago, are now being notified that the price of their chosen condo has increased 25% or more in some cases plus the hst is now added on, which makes the price to have increased up to 50% from the reservation agreement price. Leslie lee has stated this is due to the increases in materials, labour, permits and permissions. However, the market for materials and labour has only increase 3-5% as shared by the builders association in our area. With the current real estate market considered to be a hot one, some people are left in a bind to considered other options, and would not be able to financially afford these increased prices of the condo unit selected. | With still unanswered questions regarding the details of what are standards and what are upgrades, some people are feeling very unsure of what exactly their money is buying. Since these condo have been promoted to have high end luxury finishes, one would wonder why would even further upgrades and options need to be offered? Yet, people have not seen these standards with their own eyes, in print, the standards are vaguely noted. Shouldn’t the standards be clearly defined and described with names of the samples with stated prices on them in the statement of disclosure that comes with the agreement of purchase, especially if two years has past, which should be enough time to research this area? | Some reservation agreement holders have been given an agreement of purchase with a paragraph crossed out that states the deposit will be held in trust by a lawyer. Instead, the deposit is to be given to the builder. Not sure why this would be the case, if deposits are not to be used to build with, for if anything goes wrong people will never see their money again if not held in trust. Tarion will insure a deposit up to $40,000 and not a penny more. | People wonder why a paragraph in an agreement of purchase has been crossed out of a legal document that has been written by a lawyer. If the lawyer drafting the agreement of purchase wanted to make changes, why wouldn’t they just rewrite it rather than cross out a section?
Chase Realty Inc.