Solo Lofts Cancels All Pre-Sale Contracts
In a surprising turn of events, just as the building was nearing completion, we’ve learned that Solo Lofts, a 20-unit condo building in Ballard is canceling their 17 contracts:
From the PR team of the listing brokerage, Redfin:
We recently learned that due to unforeseen circumstances, InHaus cannot guarantee a completion date, and therefore is releasing all buyers from their Solo Lofts pre-sale contract. InHaus will return all deposits to buyers immediately, including interest earned. Redfin is working with InHaus to notify Solo Lofts buyers and their agents.
We reached out to Solo Lofts developer, InHaus, and their response was:
Unfortunately due to extended & continuing delays by the project’s contractor and a mounting dispute over the responsibility for the delays we are unable to establish a timeline for final acceptance of the building.
It is an extremely unfortunate situation and we did not feel it was fair to keep the pre-sale buyers on the hook for their purchase when we have no timeline on when the situation will be resolved.All purchasers will receive 100% of their earnest money and we sincerely apologize on behalf of the entire team for any disruption that has arisen from the continued delays that this project has faced.
InHaus also canceled the pre-sale contracts on Salt and turned the condo project into an apartment. But in that case, the they hadn’t even broken ground yet.