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Re:Closing Date delayed (1 viewing)
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TOPIC: Re:Closing Date delayed
#112
yunique (User)
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Closing Date delayed September 25, 2007 8:43 PM  
I bought a new house in Milton (Ontario). My closing date supossed to be March 2008, but last week I just recevied the letter from my builder that told me that my closing date will be delayed for 4 months. Does anyone have experience the same problem ? can we ask compensation for this inconvenience things because of the delay?
I'm so excited to move to the new house and this delay news make me so dissapointed.
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#117
manisha11 (User)
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Re:Closing Date delayed October 24, 2007 2:00 PM  
I went through the same thing when I first bought my home in Milton. The builder can delay for up a 120 days as long they give you 65 days notice. They can also delay another 15 days as long as they give you 35 days notice prior to the new closing date. If they do not give you the proper notice you can claim compensation through Tarion. If they delay it past 120 days you can cancel the contract between day 121 & 130 as long as you did not sign an amendment. I know it sucks!
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#119
yunique (User)
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Re:Closing Date delayed October 30, 2007 10:02 PM  
Yah.. it really sucks...
When did you move to Milton? My builder said the delay is caused by the permit is still being processed by municipality.
I don't understand why the process to get the permit is so lengthy... The municipality should make it faster because Milton is growing so fast. They should keep pace on that...otherwise, this will become a minus point for buying house in Milton.
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#124
twobyfour (User)
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Re:Closing Date delayed November 18, 2007 2:12 PM  
More people should read Bob Aaron's column in the Saturday Toronto Star. You will find them very interesting.... they are all archived. Bob Aaron is a lawyer practicing real estate law in Toronto
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#135
The PDI Guy (User)
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Re:Closing Date delayed November 24, 2007 6:23 PM  
Under Tarion builders are allowed to delay for up to 120 days with no compensation to the purchaser. They are required to submit to you in writing a notice of delay within 65 days of your original closing. The total amount of days a builder is allowed to delay without compensation to the purchaser is 120 days. This can be split in to major delays ( over 15 days) and minor delays ( under 15 days) If your home is delayed more than 120 days then you can claim compenstaion for up to $100 per day to a max of $5000.00, but no compensation will be paid for delays considered beyond the builders control such as strikes. You are able to file a claim anytime during the first year of occupancy. If your home is delayed beyond 120 days you have the right to terminate the agreement you have 10 days to terminate the agreement starting on day 121. If you don't terminate during that time frame then the builder will have an additional 120 days to extend the closing date. If the home then is not completed and you have not agreed to an extended closing date with your builder the agreement may automatically be considered void and the builder must return your deposit.
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info@thepdiguy.com
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#139
manisha11 (User)
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Re:Closing Date delayed December 05, 2007 8:24 AM  
It's been awhile since I have been on the site. I moved to Milton in May 2005. The house was delayed twice, for the second delay we were compensated by the builder. I currently bought a new house from Muirland Homes in Brampton - they have delayed the house twice, with no compensation! We had to move in with my parents and put everything in storage. This builder really sucks compared to Mattamy - did you buy a Mattamy home? We had a few issues with our Milton Home, but they came out and fixed everything. With Muirland every week there is a new problem. We are closing December 14th and they called us last night to tell us they cannot put a fireplace into the home. The only reason I gave up my beautiful Mattamy home was for a fireplace and they realized this 9 days before closing. Who gave these people a license to build a home? Is everything working out okay with your house?
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