News and Updates

 

Resurrection

 

Odenza Homes and two significant religious books share the concept above.

Odenza Homes lives!  Their Main Street office has reopened and I assume that they have started to take on new projects other than the one on Highbury Street.  I sincerely hope that this blog will help those who are in the market for a new home and a builder.

For past owners still sorting out the mess from Odenza Homes’ bankruptcy, here are some random news and updates:

G-force Group is the trustee engaged to resolve the insolvency of Odenza Homes.  They started with $500,000.00 and spent over $180,000.00 in 45 days to the end of January.  At that rate, how much money will be left for the trades?

G-force have been granted 90 days or the completion of a project to settle claims for that project( really not sure what is affected ).  Some owners have been sent a settlement proposal, others, just a notice of lien claims against the lien trust.  What have you received?

There have been complaints to the Superintendent of Bankruptcy regarding the trustee’s lack of transparency and impartiality.    No response to date.  If you want to add your voice here is the contact:   Office of the Superintendent  of Bankruptcy – Mr. Gary Sam Gary.Sam@ic.gc.ca

G-force have removed two inspectors from the remaining five.  Reasons are purportedly for conflict of interest.  They are Jason Hammond and Peter Prudnikov.  Can G-force do that?

RCMP have interviewed several home owners.  Is there a criminal investigation going on?  If so, what sort of criminal act has taken place?  Fraud?  Are the police asking about the Hundals or G-force or both?

There is a guy named James Healey ( isearch911@gmail.com ) also investigating G-force’s conduct.  Want to talk to owners who overpaid.  Claims to be a creditor (Door Crazy).  Called the company – they do not know who he is.

The Bankruptcy . . . the Nightmare continues.

 

There are so much more to write about Odenza Homes and how they took our dream home and made it a never ending nightmare.  Then, we got the news, Odenza Homes Ltd. have gone bankrupt.  See my first post on where to find the details.

Our nightmare does not end with the demise of the horror home builder, but instead took a sideways turn to a different place entirely.

G-Force Group is a company that specializes in rescuing other companies in distress and extracting the most value from them.  A good question is for whom.

Jag and Sodi Hundal sought the advice of G-Force on November 29, 2013, and entered bankruptcy on December 16, 2013.  In the days between their first contact with G-Force and their assignment into bankruptcy, Jag Hundal invoiced and collect funds from project owners, topping up the amount of cash Odenza Homes have before seeking shelter in the Business Insolvency Act.

When did the principals of Odenza Homes knew that they were no longer completing the projects they have started or have contracted to complete?  What motivated the controlling minds of Odenza Homes Ltd. to collect funds that they knew or ought to have known was not going to be spend on those same projects?

The British Columbia Builder’s Lien Act, section 10 states that payment from owners to contractors are considered trust funds.  Contractors who spend those funds other than for the direct improvements of those lands commit a breach of trust.

Will Jag Hundal and/or Sodi Hundal be going to jail?  Will they lose their houses to compensate those owners they have betrayed?

Did G-Force Group advised the Hundals to collect monies from owners to ensure there is enough funds to pay for their own fee of $190,000.00?  If the collections were lawful, were they ethical?

. . . to be continued.

Odenza Homes – The Contract, continued

Besides the Construction Agreement, your contract also includes Schedule A, a list of options that  describe in greater details the finishes, the material and other conditions of your agreement to have Odenza Homes build your dream house.  Of most importance, you should check and have included the option that “amazingly guarantees the price quoted” and a second option that “guarantees the completion time or be paid $300.00 per day”.

 

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Those two options are critical and forms the basis of our decision to have Odenza Homes construct our house.  We missed two things in our due diligence.  We did not consider what happens if Odenza Homes become insolvent, or refuses to continue construction if they have over spend your budget and they no longer have sufficient funds to carry on.  We also did not consider what happens if Odenza Homes is late completing your house and refused to honour their promised of compensation for delays.

 

 

The Odenza Homes – The Contract

All the plans are done, you have pick and choose from many styles and options with the very helpful designer from Odenza Homes.   Odenza Homes have provided you with a contract with a price that fits your budget, well maybe a little more than your budget, but you have shopped around and nothing is better.

Before you sign, you should read that contract carefully, unlike us, who did not.  Know what all the terms mean for you and your pocketbook.  You should understand what the amazing Odenza Homes price and time to completion guarantee covers, and what limitations they have.

The Contract:  Version 082010-1( see lower right corner )

The Odenza Homes construction contract comes in three parts.  The first part is the agreement itself, containing the terms.  The second part is called the Construction Agreement Supplemental.  Lastly is Schedule A, Specs(sic)ifications, a description of what you will be getting in you house.   They have several finish levels ranging from LX for basic to LXC is for custom.

Part 1:  Construction Agreement.

Instead of a dry recitation of all the part, I will cover the important ones.

3.  Construction – that you will get a house built to the B.C. Building Code standard in effect at the date of the agreement and the standards of workmanship established by industry practice.

AND that you will get a house of a floor plan and general specification to {AS TO BE DEVELOPED}.

4.  Price – shall be a sum of:  (fill in your amount)  Dollars, with subjects.

Project management fee is (fill in amount), included in the price, but does not include tax( HST only in our time ).

8.  Completion Date – builder agrees to have the dwelling completed on or about ( insert your time ) months from date the building permit is issued.  The purchaser agree that if items, materials are not available when the builder is ready to install them, then the builder will choose alternate selections and it shall be binding on the purchasers.

9.  Extras, Deletions, Errors – any change, include price changes, must be by a further agreement signed by the builder and purchaser or an initialed amendment in writing to schedule A.

If the builder and purchaser do not agree as provided above, any work not provided for in the plans and specifications will be classified as an extra and paid by the purchasers.

TO BE CONTINUED . . . .

Working with Odenza Homes

Working with Odenza Homes was great.  They have samples of floors, tiles, and counter top materials right in their studio.  The designer offered great suggestions that makes sense, and helps you decide by giving you the pros and cons of each choice.

Now, the drawings are done, plans completed and most important, the PRICE of the project and the TIME to finish it have been given a number.  In the words of the Odenza Homes website, you are on the “path to your dream home.”

Next:  The Contract.

Choosing Odenza Homes

You have decided to build a new house, now you need someone to construct it for you.  Choosing a builder can be complex or simple.  We choose to go the simple way.   Looked for one that is fairly large, not a single person organization, have a tract record, and have been established for some time.  We defined what we want to be a competitive price, quality construction and can deliver the house in a reasonable time frame.

Out of three or four builders we approached and ask for plans and pricing, Odenza Homes stood out.  Their price was better, and besides that, they offered what no other builder did:  they guaranteed the price, and more important, the time it will take to construct our house.  Those promises led us to choose to have Odenza Homes build our dream home.

Before committing to Odenza Homes, we searched the internet for reviews and opinions, but found only the glowing testimonials on their website.   After our experience, we feel that they deserve to have reviews that are independent and unbiased.

Odenza Homes Reviews

We are or were a customer of Odenza Homes.   In the journey to our dream home, we learn many things.  We would like to know how other clients have fared or are faring.  Please contribute to this blog and we will learn from each of our experience.