Comments on: In Vancouver: Ritz Carlton Condo-Hotel Project Cancelled http://montrealrealestateblog.com/in-vancouver-ritz-carlton-condo-hotel-cancelled/ A daily dose of the local market. Mon, 06 Sep 2010 21:20:13 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Larry Yatkowsky http://montrealrealestateblog.com/in-vancouver-ritz-carlton-condo-hotel-cancelled/comment-page-1/#comment-2700 Larry Yatkowsky Sat, 28 Feb 2009 06:21:35 +0000 http://montrealrealestateblog.com/?p=1336#comment-2700 At least the buyers are getting their deposits back. Check out all the lawsuits happening of those who have chosen not to complete their purchase. Macleans published a good sob story. Some of these people bought without ever qualifying for the mortgage and with the slow market the now appraised units are valued for less than the pre-sale purchase price. This is not pretty real estate but is sure is a lesson in reality. At least the buyers are getting their deposits back. Check out all the lawsuits happening of those who have chosen not to complete their purchase. Macleans published a good sob story.

Some of these people bought without ever qualifying for the mortgage and with the slow market the now appraised units are valued for less than the pre-sale purchase price. This is not pretty real estate but is sure is a lesson in reality.

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