then sells house to someone else.

Not Greedy

You finance it, you deliver the cash flow - he returns your cheques 2 years later and puts up the house to the highest bidder.

Will be interesting.

Nothing will happen. Other than the builder getting a wad of $$ from the new buyers who are willing to pay through the nose for living in a grotty place like Coquitlam.

I'll be very interested to see how this plays out in Court. I hope the builder loses his shirt, but I expect his contract allowed for this.

If you are buying a new build direct from the builder you are going to have to work with THEIR contract, even if you use a Realtor as your buyers agent. SO don't just accept what you are told by the builder or whoever is selling on their behalf. Take the contract to your lawyer and have them explain it to you clause by clause in language you can understand, and ask lots of 'what if" questions. If there is something you are not happy about the builder may change a clause (if his homes are not selling well), it won't hurt to ask.

You will also have to pay G.S.T. on a new build but can claim back a percentage of it from the government.

I didn't know that you can claim back some of the GST on a new build - how does that work?
Thanks, Louise.

http://www.servicecanada.gc.ca/en/go..._housing.shtml

also

http://www.cra-arc.gc.ca/E/pub/gi/gi-004/gi-004-e.pdf

and

http://www.canadamortgages.com/gstinfo.htm

Thank you