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?