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Stouffville - Mattamy On Main and Wheler’S Mill For residents and soon-to-be residents of Mattamys On Main and Wheler's Mill.


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  #1  
Old 2008-08-05, 09:34 AM
NRT NRT is offline
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Default Getting Deposit Back / Cancelling Home

Hello. My fiancee and I bought a new Mattamy home in Wheeler's Mill - Phase 4 but due to some changing circumstances we cannot live in the Stoufville area anymore. Does anyone have any advice on what we can do to get our deposit back or know of anyone who is willing to take over the house? We haven't finalized any upgrades or anything yet. The model is a 45' lot, Farnham B with a closing of May 2009. Any advice or home takers would be greatly appreciated. Thank you!
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  #2  
Old 2008-08-05, 11:22 AM
Reesa Reesa is offline
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When did you buy this home? You should probably be talking to a real estate lawyer. good luck!
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Old 2008-08-05, 12:03 PM
MaxJay MaxJay is offline
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In phase III I remember signing something saying that we would be the ones taking posession of the house at closing (i.e. we were not allowed to sell our agreement to another party). I don't think it would be unrealistic to think that you probably signed something along the same lines. Hopefully you can work this out in an agreeable manner for both you and Mattamy.

Good luck!
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Last edited by MaxJay; 2008-08-05 at 12:24 PM.
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Old 2008-08-05, 12:27 PM
NRT NRT is offline
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We spoke to a Mattamy representative and they said that if we find someone who wants to take over the house then they will transfer the title over to them. But if we don't find anyone then I'm not sure if there is any other way to get our deposit back.
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Old 2008-08-05, 12:40 PM
Reesa Reesa is offline
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What is the model and size?
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Old 2008-08-05, 12:58 PM
rubyramesh rubyramesh is offline
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which lot # is it and does it have optional 1st floor plan?
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Old 2008-08-05, 12:59 PM
NRT NRT is offline
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Hi,

Model - Farnham Elevation B
Size - 2595 sq ft.
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Old 2008-08-05, 01:06 PM
NRT NRT is offline
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Its Lot #100 and no it does not have the optional 1st floor plan but it has the standard first floor layout with the Chef's Kitchen
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Old 2008-08-05, 02:51 PM
james2008 james2008 is offline
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Unsure about this but isn't there a cooling off period you can use to get out of the purchase within 15 days or so?
Or you can try talking to your banker to see if they can 'disapprove' the mortgage, so you're no longer able to fulfill one of the requirements to purchase..

Then again, we're not specialists on the matter, so as one person mentioned, it's likely better that you speak to a your lawyer asap.
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Old 2008-08-05, 03:17 PM
K'n'P K'n'P is offline
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Yeah, the cooling off period ended like 5 months ago unfortunately. With regards to the financing, Mattamy was smart, and we signed a document stating that we verify that we will determine on our own that we can get financing during the colling off period. If you don't come back to them during that period, then they can legally assume that you have been approved. And you conform to this when you sign that paper.

Well that's what we signed, not sure if you guys did too.

The Farnham is a nice, big house.

Perhaps try posting on www.cornellvillage.ca and www.mygreensborough.com

May find some interested buyers, or people who want to sell their existing house for a larger place that is only 5 mins drive North of those communities. Well worth the savings in my opinion, since the Stouffville houses cost $100k less than an equivalent sized house in the North Markham communities.
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