Has anybody here bought a pre-sale condo?

W

Wan

Hello. I recently bought a pre-sale condo and I encountered a problem.

So basically, I signed the sale and purchase agreement, pretty standard stuff. However, a few days ago, I received a second amendment to the original agreement, from the developer. There is something that I feel harms my interest in this document. However my understanding is that I am bound by law to consent to the amendment because I signed the original agreement, which likely included a clause to this effect.

Now my questions:

1. What will happen if I refuse to sign the second amendment?
2. What should I do if they keep sending more documents for me to sign that I feel harm my interest?

Do you have any experience with such a matter? Please help me, thanks.

P.s. I am from Canada, btw.
 
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Hello Wan;

If you received a second amendment and are required to sign/consent to the documents, I would encourage you to invest in an attorney, explain your situation and documents for them to review and advise before you sign.

If you sign and hope it all works out is not a wise outcome except for the developer. This is your home and it would be worthwhile to get legal counsel first before you sign.

Whether you're in Canada or the United States, there will be various fees for a lawyer to provide this service. Please pray for an attorney that is in your best interest.

We have an attorney for our former homes and Living Will. I was intimidated at how expensive they can be but our attorney has been a blessing and was surprised how affordable he is.

I'm keeping your situation in prayer, Wan.
 
Wan said:
Hello. I recently bought a pre-sale condo and I encountered a problem. So basically, I signed the sale and purchase agreement, pretty standard stuff. However, a few days ago, I received a second amendment to the original agreement, from the developer. There is something that I feel harms my interest in this document. However my understanding is that I am bound by law to consent to the amendment because I signed the original agreement, which likely included a clause to this effect. Now my questions:
1. What will happen if I refuse to sign the second amendment?
2. What should I do if they keep sending more documents for me to sign that I feel harm my interest?
Do you have any experience with such a matter? Please help me, thanks.
P.s. I am from Canada, btw.
Click to expand...

Hello Wan;

This weekend my wife and I had dinner with a pastor friend and his wife. We were discussing the HOAs for condos and townhouses in California. Some Arizona "housing" communities are HOA required.

Did you give further thought on how you're going to address the second amendment with the developer?

You're in our prayers whatever you decide, sister.

By the way, we're praying about visiting my wife's brother and family who live in Guelph, Ontario this Christmas, God willing.

God bless you, Wan.
 
Hi Bob,

Thank you.

As for the what I am going to do, I think I will just sit tight and do nothing right now. If the developer sends me more documents that I feel are unreasonable, then I will consider doing an assignment. I have discussed this with my mother, she also thinks I might get more amendments, however she feels that it's unlikely that the amendments will be unreasonable, because the developer has their image and goodwill to maintain. I will see how things go and will keep people here updated.
 
Wan said:
Hi Bob,

Thank you.

As for the what I am going to do, I think I will just sit tight and do nothing right now. If the developer sends me more documents that I feel are unreasonable, then I will consider doing an assignment. I have discussed this with my mother, she also thinks I might get more amendments, however she feels that it's unlikely that the amendments will be unreasonable, because the developer has their image and goodwill to maintain. I will see how things go and will keep people here updated.
Click to expand...

Just as a thought.......why not try to find and talk with some others who have bought into the same condo. See if they are having any concerns.

The soundest advice comes from the Bible; therefore, friends who remind us of helpful Scriptures are wise counselors. They keep us on the right path.

Proverbs 12:26....
"The godly give good advice to their friends; the wicked lead them astray. "
 
Wan said:
Hello. I recently bought a pre-sale condo and I encountered a problem.

So basically, I signed the sale and purchase agreement, pretty standard stuff. However, a few days ago, I received a second amendment to the original agreement, from the developer. There is something that I feel harms my interest in this document. However my understanding is that I am bound by law to consent to the amendment because I signed the original agreement, which likely included a clause to this effect.

Now my questions:

1. What will happen if I refuse to sign the second amendment?
2. What should I do if they keep sending more documents for me to sign that I feel harm my interest?

Do you have any experience with such a matter? Please help me, thanks.

P.s. I am from Canada, btw.
Click to expand...

In normal jurisprudence, no contract is binding as long as it fails to provide equal consideration to both parties. No judge would ever let anything get through his courtroom where one party can change the dynamics of an agreement without mutual consent. That's just silly for one part to think that any changes beyond the initial agreement has to be acceptable to both parties.

Not signing an amendment can only mean the cancellation of the initial agreement entirely, without penalty. If that were not the case, then nobody would ever enter into any agreement with others if there aren't equal protections for both parties.

MM
 
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