Briarwood Development Group faces serious allegations of coercing 142 homebuyers to pay excessive price increases for pre-construction houses in Ontario. Reports indicate that buyers were threatened with losing their homes unless they agreed to the price hikes, which varied significantly, reaching up to $320,000. Despite claims from Briarwood that these price increases were due to pandemic-induced supply chain issues, buyers express concerns about unfair practices. The Home Construction Regulatory Authority (HCRA) has initiated a disciplinary hearing, highlighting systemic challenges faced by homebuyers in the pre-construction market.
An Ontario developer, Briarwood Development Group, is accused of coercing 142 homebuyers into paying up to $320,000 more for pre-construction homes, threatening them with forfeiture.
Purchasers were told they could either pay exorbitant price increases or sign a release forfeiting their homes, with $18 million allegedly extracted from buyers.
Briarwood claims the price hikes were due to pandemic-related supply chain problems, yet many buyers describe feeling unjustly pressured into these agreements.
The Home Construction Regulatory Authority reported over 2,600 complaints since 2021, highlighting ongoing issues within the industry related to pre-construction home purchases.
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