So here's just what happened in Surrey, and its leaving a whole bunch of would-be home owners angry, left in the dirt and feeling played. 

Now in the last 6 months, we've seen horror stories on presale from deals not being able to complete, developers going belly up, but this one is a new and strange one....check  it out.

So this is Newton townhouse development started sales in 2017.  And over the years, the buyers were given notice for delays in the construction.  And just this January, it seemed that the townhouse project was complete and ready to move in. Instead of the receiving a completion notice from the developer, the buyers received a cheque back in the mail stating the developer were not able to come to terms of the contract.

So this is 5 years later, and while it looks like the project is done, the developer decides to back out in speculation to sell for more money.  The developer was stating issues of the bank cancelling the project, unexpected costs, and making sure the project complies with environmental surveys by the creek.

If you look up this story, you'll also find a video of the buyers confronting the developer as he sits in one of the townhomes reselling them for more money, and it got ugly.

We'll be keeping a close eye on this unusal story.