Getting your property from CCAA.

By Site Admin, 7 August, 2024

Source: Linda Plater (from WhatsApp)

[Draft]

August 16th (KSV/Chaitons):

  • Provide DIP estimates / property (KSV).
  • Provide draft purchase agreement for credit bid purposes (Chaitons).
  • Provide ‘restructuring’ agreement for folks who don’t want to hold their own properties themselves or in a ‘Group Effort’.

Week of August 19th:

  •  another Town hall.

Week of August 30th:

  • Court approved ‘restructuring’ term sheet including payments of DIP for your property (?).

September 3 (the credit bid process):

  • Property status – estimated value, tenancy & rents paid/to be paid, contact tenant, access interior, establish property management fees post close.
  • Engage lawyer – determine property’s legal status – liens, municipal work orders, property taxes, tenancy obligations, additional mortgages beyond own, closing date, close Olympia accounts and TFSA “lost” contribution room to be re-contributed after Jan. 2025.
  • Pay DIP, legal fees & close on property.
  • Engage local property manager.

Please chime in if more to consider/do.

Updated: