Urbancorp buyers still waiting for their money

Around 20 buyers of Urbancorp’s Val Homes project in Etobicoke to the west of Toronto are still waiting for refunds for homes they paid for two years ago but then found out that the homes would be smaller and delayed for up to two years.

Cheques were made available to buyers over the weekend but they were then told not to cash them Monday in case they bounced.

TheStar.com reports that the developer says it is not having financial problems but that a mix up at the bank caused the latest issue. Urbancorp says that all cheques will be cleared by Wednesday.

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