Another day,....
Another foreclosure of a Thind property in Metro Vancouver......
And the way they acquired this one has more drama than a Spanish telenovela.
https://storeys.com/thind-4330-maywood-madeira-manor-foreclosure/
Thind Facing Foreclosure On Burnaby Maywood Project Acquired This Year
Quote:
....Another project being developed by Burnaby-based real estate developer Thind Properties is now facing insolvency proceedings, according to filings in the Supreme Court of British Columbia, adding to the embattled developer's litany of financial trouble.
Joining a list that includes the multi-phased District Northwest in Surrey, Minoru Square in Richmond, and Highline Metrotown in Burnaby, is now an unnamed project Thind Properties was planning at 6677 Silver Avenue, also known as 4330 Maywood Street, located in the Metrotown neighbourhood of Burnaby near Highline Metrotown and Metrotown Station.....
......
The sale of the property also faced scrutiny after Goodman Commercial took Kirpal Group and its partners — Nita Developments Ltd., SVM Properties Ltd., and Madeira Manor Ltd. — to court over the sales commission.
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Basically, the previous owners of the site and development, The Kirpal Group tried to stiff their RE sales broker of their commission by selling the project to Thind (apparently family friends or relatives of theirs), and claiming the achieved the sale without going through Goodman Commerical (the sales Broker's) Listing, and thus didn't owe them the commission.
Since Thind is now listed as the owner, they're the ones the claim is being made against in Court.
It now joins a list that includes the multi-phased District Northwest in Surrey, Minoru Square in Richmond, and Highline Metrotown in Burnaby
If Thind Developers were a Bravo TV show, they'd be the
'Real Housewives of Metro Vancouver Developers'.
When's the next table going to flipped....er.... I mean.....any bets on the next Thind property to face foreclosure proceedings.
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