Halifax buyers are ghosted by their home builder: Realtor – Halifax

A Halifax real estate agent says he is in dire straits. Four of his clients have been unable to reach the builder of their homes, which are far from complete.

“Any buyers, they try to locate where the builder is and try to sit down with the builder and ask what’s going on?” Bill Chen, a Halifax real estate agent, said.

Four of Chen’s clients purchased pre-construction homes in West Bedford in October 2020 with a closing date set for June 2021. The four lots are all on the same street and were sold to a company called Optimo Group Inc. .

Global News has requested interviews with the company’s director, Hamid Nikkhah, and the company’s attorney. There was no response.

Chen says he started to worry a few months after the sales when he checked the status of the batches.

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“There was no action on the construction site. So I start questioning the listing agent, ‘What’s going on?’ The deposit was paid, the agreement was signed, nothing happened. There should be some kind of construction,” he said.

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Chen says his concerns were met by a response from the builder, asking the buyers to amend their purchase agreements to each pay $100,000 more than the original sale price.

Chen says the builder argued he couldn’t get a bank loan to complete construction due to rising costs.

“[The buyers really didn’t] I like this idea at all because the deal was signed and the agreements were firm,” Chen said.

Not wanting to lose their homes, Chen says the buyers agreed to pay an additional $70,000 on top of the original selling price.

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This amendment came with a new closing date which Chen said has since been pushed back to June 2022. Construction on the lots is still in its early stages.

“I don’t deal directly with the builder, I deal with the listing agent. And the listing agent tried very hard to reach the builder, and the builder was unable to tell him a good time to meet. So right now all the buyers are trying to locate where the builder is,” he said.

Global News verified the price increase by obtaining a copy of the amendment.

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The HRM real estate market in 2022

HRM real estate market in 2022 – January 4, 2022

Chen says all his buyers want is an honest discussion with the builder. Their ultimate concern is that any legal action they choose to take could result in him declaring bankruptcy.

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“They can get their deposit back but they can’t get their loss back. Considering the price they paid versus the price the market is selling for right now, I think there’s a good difference of $300,000 on each lot,” he said.

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