Canada: Olympic village always to sell?
One year after the Olympics from Vancouver to Canada, only 35 % of the condominiums of the Olympic village were sold. To reduce the losses, the property developer has just reduced the prices from 15 % to 45 % for 230 of 474 housing always unsold. If everything takes place as expected, this cut-price sale will allow to amass 200 million dollars. However it is not without risk for the buyers, because in the conditions of purchase, the builder is not any more a member of the contract. Furthermore, the sale includes the signature of a form freeing the city of Vancouver of any pursuit or resort against her. The buyers, in case of problem, will have to turn to the management agent of the bankruptcies. |
