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Lost $3,000 on a presale condo in Edmonton and learned a hard lesson
Put a deposit down on a presale unit in 2022 and the builder kept delaying for 18 months before canceling the project entirely. Has anyone else had trouble getting their full deposit back from one of these developments?
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felix_coleman871mo ago
Three grand isn't chump change, but honestly it could have been much worse. I've seen people get stuck with units that lost 30% of their value in places like Calgary when the market turned. At least you're not fighting a bank for a mortgage on something that's now worth way less. You'll probably get that deposit back eventually too, these things tend to work themselves out.
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oliver5231mo ago
Isn't losing 3k better than being stuck with a condo that's now worth way less though?
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