A wave of defaults has real estate lawyers urging presale buyers to be cautious

In 2021, Sudip Sehgall put down an $81,990 deposit on a yet-to-be-built townhouse in Surrey, B.C. While it was under construction, he occasionally visited the site to watch it grow.

The 52-year-old envisioned the deal taking him steps closer to

Builder defaults on payments linked to Fortress Real Developments collapse

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Since 2019 FAAN has been acting as Trustee for syndicated mortgage investors who are still owed money more than five years after Fortress RDI collapsed in 2018.Fred Lum/Globe and Mail

Richmond Hill, Ont.-based real