Many Canadian homebuyers waiting patiently for construction to finish on their pre-sale unit are being met with cancellation notices from developers. The building environment is souring — leaving some unhappy customers scrounging to get their deposit, or more, in compensation.

Real estate lawyers in some of Canada’s busiest housing markets who spoke to Global News say you might not get much more than you put into a pre-build, depending on what your contract says.

The Canadian Home Builders’ Association (CHBA) said in a report released last week that high construction costs and rising interest rates are hurting developer confidence in the market. Two out of three builders tell CHBA that they’re building fewer units, while 22 per cent of developers have fully cancelled projects in recent months.

Aman Bindra of KSW Lawyers in B.C., tells Global News that buyers eyeing the pre-construction market are taking a big chance about what state the industry will be when construction completes.

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