While I’m tied up trying to Close on a real estate transaction with an “other-than credible builder” I thought I should share a couple of thoughts.
I’ve said before, that I’ve pretty much given up on finding any “integrity” within our entire societal structure, be it political, legal, medical, business, finance, etc., etc., etc., not the least of which, anything on the Internet.
In the old days we (“news-junkies“) got our fix of news from somewhat ethical institutions delivering “hard copy news” (newspapers, magazines, etc., then we shifted to 24 hour cable news (where consumers are required to pay for usage of a line into their home in return for “advertising“) and on to the Internet resulting in a complete shift into the domain of “shameless self-promotion” founded in “spectacular-ism“.
Today, there is no such things as “Journalistic Integrity” and I say there is no more “Integrity” in our commercialism/capitalistic society.
To appease my appetitive for timely global news, I just might have to learn German as the German Government is spearheading a move to make it legal in Germany “to fine social networks up to 500,000 Euros ($600,000CAD approximately) for “each day the platform leaves a “fake news” story up without deleting it“.
As a heavy user of news, I would whole heartedly support this effort, not just in Germany but around the globe. News with a guarantee of integrity would certainly be a refreshing thing these days.
I had formed my conclusion about fake news on the Internet a long time ago!
I find it insulting to have the north American intellect regulated by promoting falseness in general in our society.
What do you think when you think “salesman” for example?
Do you think highly trained litigators are fundamentally honest? Not the one’s I’ve been forced to learn to fend off trying to publish honest commentary on Ontario’s condo market for the past quarter century.
Are doctors who are totally unhealthy themselves and totally void of nutritional knowledge and/or awareness, truly being honest with either their patients or themselves?
And isn’t the dishonesty that is so obvious in politics actually seen as positive attributes in a politician (think Donald Trump’s campaign manager Kelly Ann Conway!).
I haven’t been blogging much lately as I’m up to my neck in completing the purchase of a luxury home in Bronte Village, a beautiful residential oasis about 3/4 hour outside of Toronto on the lake.
It normally doesn’t require very much attention to Closing a real estate transaction especially when you work with a professional lawyer.
I’ve worked with Myles Waxman in Toronto for decades now and have sent literally hundreds of my global clients to him when they are buying or selling real estate here in Condoland.
I’m not a big fan of lawyers in general, but that is mostly a result of having fought so many litigators (hired guns hired by developers to shut me up) coupled with my general disappointment with the notable lack of professional services I see lawyers getting away with in the area of real estate.
Buyers who worry about saving nickels and dimes in lawyer fees, when buying a million dollar property (the average price of a home in Toronto now is over three quarters of a million dollars), are just lacking in common sense and awareness of what it is a professional real estate lawyer delivers.
Usually, transactions are relatively “hands-free“, but with my most recent Oakville purchase, it has been anything but “hands-free“. Great for my Blog followers as this guy is clearly giving us all a real life example of what can reasonably be expected when buying in Ontario.
As shocking as much of this Case Study is, it is tragically not unique by any means.
I’ve made approximately a dozen personal real estate investments in Condoland over my career and every time, I have been disappointing with the poor workmanship, offensive way we are left to be dealt with as consumers, and dissatisfied with the finished product (so much so that I would even keep them as investment properties).
We’ve been required to renegotiate or purchase a number of time in this case, seen our Closings fail on six separate occasions, and never have received any pre-warning about their inability to Close on schedule, we’ve had to assume the full role and responsibility of a “quality inspector” driving all the way to the property twice a week for months only to repeatedly find deficiencies and poor workmanship (if and when anything gets done!) and most recently deal with extremely unethical builder and staff (who all work in close harmony to exploit, mislead, misrepresent to their customers).
I actually couldn’t have conceptualized a more effective Case Study if I had tried, and believe me . . . there is nothing like first hand factual information!
Dealing with this million dollar plus actual purchase has supplied a clear timeline showing everything that is wrong in Ontario’s real estate industry.
I recently watched an excellent documentary on the Fashion Industry and the systemic negative impact it brings to millions and millions of people and entire societies. It clearly in just over an hour showed the literal reality that we all should be ashamed of.
Yet it is this exact same philosophy that exists in the real estate industry.
The parallel suggests that developers/builders are the “big brand designers” and those so negatively impacted are consumers.
In Ontario, the consumer is the only party putting up any money, yet they are the sole party burdened with any responsibility.
If you want to see truly amazing and dysfunctional contracts take a look at those presented at condo showrooms!
The contracts strip any/all rights from the buyer and leave you literally defenceless.
The contracts say that anything and everything may be changed by the developer/builder without even notice to the buyer.
Room sizes, layouts, fixtures and finishes may all change.
Developers/Builders are allowed to flagrantly misrepresent themselves, their experience, their integrity on web sites knowing that upwards of 90% of buyers today attempt their own research and due diligence on the Internet.
This Oakville purchase gives us the ideal real world example of a developer’s/builder’s web site and I will be presenting my experiences which parallel those of other buyers in this collection of just 18 supposedly “upscale homes”.
I will then take you through the beautiful brochure that the developer/builder was allowed to present to consumers without telling them that the photographs used in it have nothing to do with what they are delivering with a purchase. And those magnificently articulated selling phrases, written by high priced ad agencies that more than likely never even met the developers, when you get to see the real people behind the company are enough to literally make you ill!
But all of this is totally legal in Ontario.
You see “consumerism” regulates our integrity here in the frosty north.
High density real estate is a critical driver of our economy with respect to employment so all levels of government are in the game.
Actually employment in Ontario, with civil service employment and construction industry employment removed “Flat-Lined” years ago, but to read all the government propaganda our economy “is booming“!
So then I’ll take you through the convoluted bordering unbelievable period between getting locked into what can only say is a ridiculous contract and the delivery of your finished house or condo.
I’m going to show you how a developer/builder can fail to meet seven different Delay Occupancy/Closing Notices without even given you Notice at all that they cannot meet your occupancy/closing.
Most people buying a home over a million dollars have sold their home or are renting it and thereby require a minimum of sixty (60) days to ninety (90) days.
Let’s assume that they’ve sold their home relying on the builder/developer to give them warning in the event that the developer/build can’t give the buyer access due to their not being able to complete their work on time.
Doesn’t it seem reasonable that immediately upon the developer/builder realizing that they cannot deliver, that they would be required under law to at least tell the buyer!?!
Seven failed closings and not one notice in this real life case study.
And then I’ll walk you through the disappointing realization that your builder/developer doesn’t have a clew about construction or home building.
You learn that what was represented in the contract (AP&S) and brochure were not nearly as important as what was not included.
And you get to watch this dysfunctional and unethical developer/builder repeatedly expose their inability to be honest and/or ethical with buyers and ultimately prove incompetent and unable to actually deliver professional quality workmanship!
And there’s not a thing that anyone can do about it.
And in the end, the developer/builder wears down their victims (the “buyers” – you know the “consumer” who is allegedly “so well legally protected here in Ontario“) and gets to repeatedly give closing dates without adequate legal Notice, fail to meet their own date, and simply cough up another closing date while the buyer simply gets to comply or be challenged for failing to meet the terms of their contract.
Stay tuned and be patient.
This is an evolving case study.