Homebuyer Jennifer LeFeuvre says she is in a sort of limbo after developer Briarwood Development Group told her they were tacking on an extra $175,000 charge for her new home, on top of the initial cost laid out in a contract she signed.
The province is now launching consultations to try and tackle price escalations and offer consumers more opportunities to get a clear picture of what they are signing up for when they enter an agreement to purchase a home. But also in the consultation paper is an indication the government is exploring how a developer can raise prices within limits, causing concern for some that the government may be about to miss the mark.
"Why is Doug Ford allowing his ministry to do this?... I feel like the ministry is going totally against what he's saying," she said after reading the proposals. "I want to see us go back to a state of normalcy, where the price was the price," he said. "Pre-2020 builders just didn't even comprehend increasing the purchase price."
It would allow the purchaser who could be under pressure to sign quickly at a site to take the document back to a lawyer and say, "What have I signed here, what are the ins and outs of this, please explain it to me?"John Brennan, the partner and founder of JBrennan Law, says he's glad to see proposals that would make it transparent to researching home buyers if a company has cancelled agreements or had related issues in the past, through publicly available data.
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