Westbank sent a letter to all owners in Vancouver House, reminding them that they are not allowed to list their units on MLS before closing and taking possession. No assignment sales allowed at this point when they are months away from completion.
Looks like there were 30 to 40 units listed.
The building is not sold out and I guess the developer doesn't want these MLS listings to bring down the value of unsold units, and doesn't want other owners to be scared into not closing.
Other sources are reporting that many have already communicated that they will not be closing (so if westbank can't sell them for full price they can sue for the difference in revenue) and are therefore forfeiting their deposits.
Many have predicted that this building could be a huge mess and as we get closer to completion, it looks like they were correct,.
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