Page 27 - V3 TOGA_CX Presentation

4. WAITING PANGS
After the contracts are exchanged, there is a long wait and silence. Keep me updated! I am excited about my purchase and I want to know the progress. I’d like to see and not just hear about the development so I often drive pass the site.
My frustration comes at the point when promises are not met and I am misinformed about completion dates. These delays are stressful and have grave implications on my living and financial arrangements. I wish the developer understood my pain.
“I think the lows would've been just not knowing time. progress updates are very important because I paid for the 10% deposit. I want to see it grow up.”
“At the end, when the delays were getting pushed out and pushed out, it was a bit worrisome, because no one was giving us any real "why," it was just, "No, it's not August." Then September, "No, it's not September, it's October." And November, and we're like, "Mmm." It just makes you feel unsettled when you don't understand what the delays are”
“I was quite involved and invested in this. I came here a number of times when it was a building site, and I actually called them to tell them, "I've been to this unit," when the concrete was poured and all this stuff, and it was a building site. It made me very happy to come in here to be able to see it on the way. Let people come and see it when it's in its early stages, because you get a better feel for it.”
“So they're saying, "Okay, it'll be done in six weeks." "Okay, great." I'm going to go tell my bank that, “...”, I've just given a notice to my landlord, now I've got to be out in four weeks. And then you've just changed the date and added another two weeks to it, when I could have just told my landlord, "They have no *** idea the trouble it caused.”
“We drove past it a lot, my husband just constantly wanted to see what was going on, it was important for us to see it, I think the fact that we could see it all coming together, gave us, okay, it's gonna be built, it's gonna be finished. Just the timing was the biggest issue. For us, it wasn't an issue of if are we gonna move in, we have rent, we're renting, that was not an issue, our issue was, okay, can we get the loan in time? Will we then be penalized because our loan is not completed on time, but I think that's it, just the timing. It's nice to have updates.”
“Of course, one thing I think TOGA can be improved is that Really assess the real timing. Our holiday plan was ruined because we've been informed that the settlement will be happening in May or June, but instead it happened in December. I had already informed my family in China that I'm going back to visit home, but I can't buy the ticket because I don't know when's the settlement. I know sometimes you can't really foresee, but you have some experience that you have to take in some buffer. Let's say that. Like you take three or four months buffer in, if you delay one or two months, still okay, but delay for half year, you basically screw up because the whole holiday plan I can't do anything. And for the previous one I had to pay $1,400 for three months of service apartment.”
“I had three months pre-approval. It ran out. So, I had to get the pre-approval again, and then it was, July, it ran out. So, you can't keep going to the bank and asking to extend it into September. So, because my pre-approval ran out, I was having a difficult time, I was very stressed because I didn't know if I could get the loan.”
Commercial in confidence
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