About Susan Gozali Expertise I can help you in questions regarding mortgage/financing in Canada. I'a mortgage expert, having access to over 90 lenders, including banks, credit unions, trust companies, and even private lenders. I handle both residential and commercial properties. Please do not hesitate to ask me if you have any questions regarding those matters.
Experience I have access to the most creative alternative lending products out there, meaning unlike your bankers, I deal with clients with less than perfect credit rating. In addition, I also deal with self-employed borrowes and foreign investors. My latest project is to help renters achieving their dreams of becoming homeowners.
Education/Credentials Licensed Mortgage Broker of BC
Expert: Susan Gozali Date: 2/3/2008 Subject: possession dates
Question I have purchased a new home in BC. I live in AB. The builder told us that possession would be Feb 15. I have given notice to vacate the apartment I currently live in as well as booked a moving company (cash deposit). The builder just told me I can't have possession till the end of march. This is the second change of date. What can I do? I now have nowhere to live and no where to store my goods!! Please help!
Answer Hi Tony,
I'm sorry to hear about your situation. However, if you go through the purchase contract, builders most of the time (if not always) have a clause there stating that they have the right to postpone the possession date, with or without notice. It is extremely common for builders to postpone the closing date. I rarely see circumstances where they're actually on time. In your case, it is only a month delay, I know one development who got postponed for one or two years. I'm sorry to tell you that there's nothing really you can do about it. Not that I know of. I wish I could help you. If you manage to find a new place to live, please do confirm the closing date with the developer again before you give notice to the landlord. There's still possibility that the possession got delayed even further.
Please feel free to contact me if you have any other questions.
