ville-marie TOM Condos - 42 étages (2019)

[ddsg]

In the end, this is your decision, but if I were you, I'd take my deposit back asap and go find a unit in one of the buildings actually in construction somewhere downtown! This project doesn't seem to be going anywhere and your deposit not being invested somewhere is bad.

 

It must be really frustrating for you and I hope you get the best out of your situation. Good luck!

 

Unfortunately, there's no real way to get the deposit back under the purchase agreement. The only real option would be to sue for it, but the project will most likely be long dead by the time it would actually go to court. I've been tempted, particularly after the saleswoman told me that they had no obligation to notify buyers of any changes to the building's plans or timetable. If not for mtlurb, I would have had no idea that they had converted the 4th and 5th floors to office space or added units to the other floors.

 

In the meantime, buyers are stuck without being able to buy into any of the other projects that have popped up unless they're ready to pay for 2 mortgages in the event that the tower actually gets built.

 

Tom condos made a lot more sense when it was first announced, as it had very little competition. Now though, there are no buyers willing to pay $500k+ for one of the upper level units when they can spend that money on a unit in a nicer building, albeit on a lower floor.

[bxlmontreal]

Le promoteur de TOM peut toujours revendre son projet à un autre promoteur de la place,beaucoup plus attractif coté marketing et promo.Qui lui se chargera de continuer les ventes voire

d'adapter un peu le projet à la demande actuelle(étages,surfaces).Je suppose que c'est possible juridiquement et sans doute prévu dans une petite clause dans les contrats?

[SynosiK]

Unfortunately, there's no real way to get the deposit back under the purchase agreement. The only real option would be to sue for it, but the project will most likely be long dead by the time it would actually go to court. I've been tempted, particularly after the saleswoman told me that they had no obligation to notify buyers of any changes to the building's plans or timetable. If not for mtlurb, I would have had no idea that they had converted the 4th and 5th floors to office space or added units to the other floors.

 

In the meantime, buyers are stuck without being able to buy into any of the other projects that have popped up unless they're ready to pay for 2 mortgages in the event that the tower actually gets built.

 

Tom condos made a lot more sense when it was first announced, as it had very little competition. Now though, there are no buyers willing to pay $500k+ for one of the upper level units when they can spend that money on a unit in a nicer building, albeit on a lower floor.

 

You should verify again about canceling your contract and getting your deposit back. I do not believe it is legal for them to specifically say you CAN'T get your deposit back. Most likely, nothing in the contract directly describes the scenario of the buyer getting his deposit back by choice (other than because the promoter failed to respect delays or modified the project).

 

They will probably object to give the deposit back, but I'm sure with enough pressure, they will be obliged to. In my contract, I never saw anywhere that said I could not get my deposit back or that I had to pay a penalty for it, so I hope the same applies to you! Good luck.

[ScarletCoral]

I think you can get your deposit back if the other end doesn't honor what was promised. You should contact the OPC (Office de Protection des Consommateurs). There are people specialized in real-estate that can advise you.

 

http://www.opc.gouv.qc.ca/en/contact/consumer/

[Sososlick]

Although I'm losing my patience I still have faith in this project.

[Spike]

I was corresponding with representatives from TOM and was told that the permit should be in by the end of the week and that an announcement for the beginning of excavation should be sent by the end of the month.

 

Only time will tell if it's true.

[UrbMtl]

Prions pour que ça soit vrai...

Cette tour, bien qu'elle nous amènera bien du pré-fab, serait un ajout essentiel au quartier.

[Habsfan]

Thank you for the update spike!

[MtlMan]

En effet, merci du update. Svp, tiens-nous au courant, si tu reçois bel et bien un avis par courriel avant tout le monde!

[FrancSoisD]

Combien de projets le promoteur a-t-il réalisés? Sur le site web du TOM, il n'y a que la mention du 215 Avenue Redfern à Westmount.

 

Je me méfie un peu des promoteurs "newbies" dans le Centre-Ville

 

Et me semble que Redfern a été annoncé un bon 12-18 mois avant qu'ils commencent la démolition, non? Peut-être qu'ils sont juste... slow?