The foundation has been poured for Soraya Palma’s first home and she’s paid most of the deposit. But the 29-year-old says she now has no choice but to walk away from the Barrie, Ont., development.

Last Wednesday, she received a letter that left her speechless. 

Pace Developments informed her it’s cancelling their agreement from March 7, 2020, and returning Palma’s deposit even as construction on the walk-up condos continues. That is, unless she agrees to pay an additional $100,000 on top of the original $512,000 purchase price.

Experts that CBC News spoke to say what Pace is doing is most likely legal, although they caution that they haven’t seen the contracts.

But that’s little consolation to Palma.

“It’s just ridiculous. I feel completely screwed over,” she told CBC News.

Palma said she made sacrifices to afford the house. She and her partner put off their wedding and she moved in with her parents when she got laid off from her downtown Toronto office job because of the pandemic. She now runs her own business.

“To add another $100,000 onto a home, it’s not pennies,” said Palma. “I’m unfortunately going to have to walk away from the deal and look for something I can afford.”

Because she missed payments and was charged a fee, she will be getting $36,000 of her $38,000 deposit back.

She and dozens of people who invested in 70 Phase 1 units of Pace’s Mapleview Developments, known as Urban North Townhomes, between 2018 and 2020 were given the same two options by the Richmond Hill developer last week — walk away with their deposits or buy back in for an additional $100,000.

The developer’s about-face, however, doesn’t affect buyers of townhouses on the same site, who bought more recently at a higher price.

Keep reading on CBC News