Ep.4 | Pre-Con Gone Wrong | A Break Down Of Urbancorp

Welcome back for a brand new DC family episode! Today we’re going to be talking about pre-construction. We’re going to be doing a deep dive here as we do a case study of a pre-con builder doing it all wrong! Several years back, Toronto Life broke out a story called ‘Screwed.’ The story featured the rise and fall of Urbancorp and how they lost the money of nearly 200 pre-construction buyers and their chance to break into the market.

Urbancorp was a prolific company that had its hold in the real estate market as the premiere builder but everything went down south as they were exposed as a corrupt organization.

Buying a pre-construction has its pros and cons. And in this episode, we’re going to go through this story and highlight what to avoid when buying a pre-construction.

In the episode we discuss:

• Vetting a pre-construction project
• Suing a builder when things go wrong
• Governing bodies that are there to protect buyers from builder
• Why do people purchase pre-construction condos
• The financial structure of buying a pre-con
• Doing your due diligence on a builder
• The risks of buying a pre-construction
• Deposit Structure