Toronto Condo Buyers ABANDON Units Worth LESS Than They Paid
📲 Book A Free Call: https://www.ChatWithZhen.com
►► 🔥 A Toronto buyer just walked away from a $439,000 deposit on a preconstruction condo – and could get SUED. But here’s the shocking part… they didn’t have to.
This $2.2M luxury condo in Midtown Toronto was purchased at the 2021 peak. Now? The appraisal came in at only $1.6M – a $600K loss. Instead of closing, the buyer walked away from his deposits. But here’s what the media is NOT telling you:
💰 Banks are handing out BLANKET APPRAISALS, giving buyers 110% mortgages. Yes, this means lenders are financing more than what the condo is worth.
In this episode, I’ll break down:
✅ Why this buyer strategically walked away from their deposit;
✅ The hidden blanket appraisal loophole developers and banks are using;
✅ The real risk to preconstruction buyers in 2025-2026;
✅ Why 63% of unsold housing inventory is condos – and what that means for prices.
🚨 If you have a preconstruction condo closing soon, DO NOT RISK AN UNDER-APPRAISAL. Get a blanket appraisal ASAP – I can connect you with the right contacts.
The condo market is changing fast, and if you're holding out hope for a rebound… I have some bad news. Watch now and find out why.
💬 What do you think? Would you walk away from a $439K deposit? Comment below!
00:00 - Intro
02:30 - How to Prevent Losing Condo Deposits
03:33 - Top 3 Concerns for Precon Condo Market
05:15 - Blanket Appraisals
08:15 - The Problem with Blanket Appraisals
09:47 - Outro
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#torontorealestate #torontocondos #blanketappraisal #condoloss #preconstruction #torontopreconstruction
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Find Zhen Here:
Book A Call: www.ChatWithZhen.com
Email: Zhen@PrimePropertiesTO.com
Website: http://www.PrimePropertiesTO.com
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