Richomd Onni Flo Condo Liquidation

January 17, 2009

The media and blogs are buzzing with news on the liquidating of 375 condo and townhouse units at 20% – 40% ‘off’.These units were purchased by condo buyers as presale, paid their deposits with with the balance of the purchase price to be paid upon completion. For whatever reason thees buyers did not complete, lost their deposits and Onni retains ownership of these properties.

Available for sale – 55 units

The specifications for the Flo units are:

  • 1 bedroom 595 – 715 sq feet
  • 2 bedroom 804 – 919 sq feet
  • PH 1600 sq feet 3 bedroom
  • Townhouses 1455 sq feet, 3 bedrooms

The liquidation pricing is expected to be as low as $400/sq foot.

Onni Flo condosBuyers may view the units over the weekend and make their offer as according to information received starting Monday, January 19, 2009. These units are expected to be snatched up by eager buyers.

There is no special legal process involved. A Realtor can help purchase these units in the same manner they would any other unit. A home Buyer is to make an offer with “subject to buyer and developer agreeing on the discount (20% to 40%) from the list price”. The 5% GST is payable for the purchase, and a 5% deposit is due upon acceptance with a 30 to 60 day completion.

If you would like to know more or view any of these properties, call me now at 604-721-4817.

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