Buyers hope for court win in Langley condo case

An appeal has been scheduled for pre-sale buyers in the Murrayville House case.

Would-be buyers of condos in the beleaguered Murrayville House project are appealing a judge’s decision that saw their pre-sale contracts cancelled.

Fred West has been waiting two and a half years since he and his wife put down their payment for a condo in the project.

After numerous construction delays plagued the project, it was finally completed physically late last year. However, legal wrangles between the creditors, the pre-sale buyers, and the builder continue. The project is in receivership and remains empty as ownership is sorted out.

On April 4, pre-sale buyers were devastated by a ruling that their contracts had essentially expired, and mortgage lenders to the project took priority.

The pre-sale buyers would have right of first refusal to buy their units, but at current market prices.

That’s impossible for many of the owners, who put down their deposits before condo prices skyrocketed.

“We paid somewhere in the vicinity of $340,000, and it was going to be listed for $503,000,” West said of the condo he’d planned to buy.

Now a judge has sent the matter to the B.C. Court of Appeals. A three-judge panel will hear arguments by a group of 22 buyers, represented by Solimano Law, on June 12.

“One for the little guys,” said West.

He admitted the buyers have no idea what the appeals court judges will decide, but he was very satisfied they’ll get a hearing.

If the appeals court overturns the ruling and sides with the pre-sale buyers, it could set a legal precedent for similar real estate situations in B.C.

On April 4, Justice Shelley Fitzpatrick had ruled that mortgage holders had legal priority over pre-sale buyers.

Creditors who financed various mortgages are owed more than $51 million in principal and interest.

The lenders had opposed allowing the pre-sale buyers to fulfill their contracts. They argued for selling the units at market price so they could recoup more of the money they are owed.

An appraisal of the project showed that the units’ value was 46 per cent higher than contract prices.

There are 92 units in the building. Courts are still sorting out the ownership of many of the remaining units, which had even more complicated issues to resolve. Fitzpatrick described the situation as “chaos” at one point in her April 4 judgment.

The primary developer of the project, Mark Chandler, was ordered extradited to the United States earlier this year to face a fraud charge in California. He is currently appealing that ruling.

The RCMP has also confirmed it is investigating the situation around Murrayville House.

Just Posted

Langley Thunder stop Shamrocks

The local lacrosse season is close to wrapping up.

Throwback Thursday: July 19, 2018

Can you help us caption a photo from Langley’s past?

Our View: Location matters when it comes to candidates

Those running for civic office should live in the community they want to represent.

Looking Back: July 19, 2018

The community’s history, as seen through the files of the Langley Advance.

VIDEO: New doctors, but fewer spaces for patients in Langley

Retirements have left some Langley residents without a family physician.

BC Games: Dance, spoken-word highlights at Opening Ceremony in Cowichan

Hundreds of athletes and thousands of volunteers, coaches, parents and officials

Police to provide update on case against alleged serial killer Bruce McArthur

McArthur worked as a landscaper, allegedly concealed the remains of seven men in planters

Premiers to wrap up 2 days of meetings at New Brunswick seaside resort

Meetings held in the scenic seaside town of St. Andrews on Thursday focused on trade

B.C. city wants pot punted from farmland

Concerned about conversion from growing food to making marijuana

World’s translators push back on forcing Trump interpreter to testify

Democrats had asked translator to testify about Trump’s lengthy conversation with Putin in Helsinki

No decision on B.C. school stabbing suspect’s mental fitness for trial

The BC Review Board could not determine whether Gabriel Klein, 21, is fit to stand trial

Canadian government threatens to retaliate if Trump imposes auto tariffs

U.S president had suggested that auto imports pose a national security risk to the U.S.

Abbotsford’s Besse sisters: Vaulting to greatness at Summer Games

Local siblings heading to Cowichan to compete in equestrian

Wildfire evacuation order forces bride to search for new wedding venue

Fitzpatrick Family Vineyards is under an order due to the Mount Eneas wildfire south of Peachland

Most Read