Toronto woman's life savings in limbo as new owner of townhouse development refuses to honour agreements - News Summed Up

Toronto woman's life savings in limbo as new owner of townhouse development refuses to honour agreements


Ideal Developments transferred this land at Yonge Street and Jefferson Side Road in Richmond Hill to Grand Grace Developments last summer. "When I got the letter in February I was torn to pieces," Pires told CBC News. Ideal argues new owner must honour agreementsIn its application, Ideal argues that a condition of the property transfer was that Grand Grace assume all of the existing purchase-of-sale agreements. Anna Pires decided to buy a pre-construction townhouse condo unit in Ideal Development's Modern Manors project after seeing the development and concept photos online. (Arash Ekbatani)The real estate agent was searching for listings for a client in late January when she came across a Grand Grace ad for her townhouse development.


Source: CBC News March 13, 2021 09:00 UTC



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