Quote:
Originally Posted by ikaris
During the peak of the real estate boom, developers in Calgary regularly had clauses that would allow them to nullify a contract and reprice units to maximize their profits. I would definitely stand by the comments referring to the greedy developers (at least in Calgary).
A respectable developer would allow for price adjustment (at least partially) to help with the hefty losses.
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No one is forced to sign a contract with a clause like that in it. Don't like it, don't sign it. I wouldn't ever buy a unit under those conditions. And not knowing is no excuse. Pay a lawyer a couple hundred bucks and explain the contract to you.
A respectable developer would allow for price adjustments?
Our buyers don't allow us a price adjustment if the market swings up, why should we adjust if the market swings down?