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Old 2010-09-20, 12:52 PM
Steven Steven is offline
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Default Fieldgate - Grading Deposit

Hello,

During my closing week, my lawyer reminded me to get back the grading deposit from the builder ($525). He said that, most of the time, people don't contact the builder for their grading deposit refund, and the builder ends up keeping it.

I have called Fieldgate and left a message. Just wanted to confirm if others knew about this.

How do I get a refund of my grading deposit?

Lot grading deposits are held by the builder and are generally returned to the purchaser after the lot grading has been approved by the City. Contact the Development Construction Section to confirm that the lot grading has been approved and contact the builder for return of the deposit.

Thanks!
Steven
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Old 2010-09-20, 12:58 PM
PJD PJD is offline
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It usually takes a year and a half to two years before the city has taken over the street and you can get it back from the builder - most people who have gone through this already will tell you. You are lucky your deposit was only around $500. Mine was well over a $1G, though I forget the exact figure.
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Old 2010-09-21, 09:12 AM
saw_mui saw_mui is offline
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just to add...

I did call the town recently..they have indicated it is at least 6 month for the town to take over. The town also takes over on a phase by phase basis.

NOTE: the speed of take over is all dependent on the builder and their engineers and they need to provide the paper work to the town.

NOTE: some builders do send out the cheque automatically. However it is always a good idea to "remind" the builder of this.
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Old 2010-09-29, 04:16 PM
dacatz dacatz is offline
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my lawyer told me that fieldgate noted that in the agreement "grading deposit is non returnable"
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Old 2010-09-30, 10:21 PM
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craz4sno craz4sno is offline
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I know for certain that I had the same clause as dacatz... I remember questioning it when we signed.
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Old 2010-10-20, 09:42 AM
kiwi04 kiwi04 is offline
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Have you heard back from them yet? I don't think the town has taken over the street yet -but I'm sure it will be soon- just courious as to what Fieldgate said to you about the refund. I will have to check my clause to confirm this - do you know which paragraph this was?

Quote:
Originally Posted by Steven View Post
Hello,

During my closing week, my lawyer reminded me to get back the grading deposit from the builder ($525). He said that, most of the time, people don't contact the builder for their grading deposit refund, and the builder ends up keeping it.

I have called Fieldgate and left a message. Just wanted to confirm if others knew about this.

How do I get a refund of my grading deposit?

Lot grading deposits are held by the builder and are generally returned to the purchaser after the lot grading has been approved by the City. Contact the Development Construction Section to confirm that the lot grading has been approved and contact the builder for return of the deposit.

Thanks!
Steven
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  #7  
Old 2010-11-05, 09:15 PM
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DDeVore DDeVore is offline
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Good luch with that.
We were with Starlane - sold this year, moved in July 3rd 2008 and still haven't got our grading deposit back.
It was applied for last year, and it's been almost a year and a half since we applied for it back, and we're still getting the run around!
Ours was around the 1000+ mark as well.
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