Expo 62 and its 114 condo units CANCELLED
James bought at Expo 62 and has had his reservation canceled as the building has been sold to someone who will convert to apartments. He blames the ‘Daddy-0’ marketing:
I’m one of the 17 buyers whose purchase and sale agreement is no longer reserving a unit purchased for Expo 62.
They only sold 17 of 114 units since April 2007 so certainly not that surprising. I know when I visited it I was underwhelmed though I would have picked Domaine to go apartments first.
This certainly must be disappointing for the 17 buyers, specifically James and Mike. I know if I had made a deposit in April and then found out eight months later that I’d be upset as I likely would have passed up other opportunities. On the other hand I’m sure Trio buyers are rejoicing over the lack of competing neighboring inventory.
Update: Coincidence? 4 days ago Elizabeth Rhodes answered a question about condo complex bankrupty on her Home Forum Extra blog:
What happens when you’ve bought a unit in a condo complex and the thing goes bankrupt before many of the units are sold? As an owner can you be liable for costs associated with the bankruptcy?