The reason they are offering this type of promotion is so they don't have to lower the total stated cost of units, which would truly tick off previous purchasers. This way they can maintain existing prices and make it seem as though values have not dropped, when in fact they have dropped. Only way to try and spur sales without actually dropping the price, which is what is necessary. Value of the promotion is only around $15000, so doubt that many people are getting that excited. Cost also much less for the developer as they would have gotten a nice deal and can still write off the costs of each car. Other developments are also offering a lot of goodies right now, which is just more proof of how soft the condo market is softening.
Quote:
Originally Posted by Jim613
And looking at the specific page for this promotion (sohochampagne.com/mercedes wich forwards to skycollection.ca/terms)...
Declarant = builder; Lessor = buyer
So, the builder will give the money to the buyer so that the buyer may get the lease. If this is in one installment, not bad. But if it's a month-to-month thing, I wonder what happens if the builder comes up short on the funds or if there is a delay
Also, wonder where these funds are coming from...hopefully not from the reserve fund which is often underfunded by the time the condo board takes over
And this one made me laugh...
So the buyer may or may not be driving a rolling billboard for 3 years 
If I was one of the next 12 buyers, I'd just request an equivalent discount off my unit. Less $$$ to mortgage and less CMHC premiums to pay. |
Threaded Mode