B.C. doctor forfeited $275k deposit on Trump tower condo after abandoning deal

A West Vancouver woman who changed her mind about buying a$2.7-millionTrump tower condo won't be getting her hefty deposit back, despite arguing in the Supreme Court of B.C. that she didn't fully understand all the details of the purchase.

Lydia Chenput $275,290 down for thethree-bedroom unit in November 2013. Shebacked out of the deal more than a week later.

The developer, West Georgia Development Limited Partnership, said she forfeited the deposit in doing so.Chen sued the company forthe money in October 2014.

The 64-year-oldargued she was entitled to her depositbecause the developer hadn't give her a proper opportunity to understand adisclosure agreement she signed when she made her offer.

In July, a B.C. Supreme Court justice ruled that she had, in fact, had enough of a chance.

Offer in an afternoon

Chen, an ophthalmologist who lived in the British Properties, went to a sales presentation for the tower around noon on Nov. 3, 2013. Court documents said the doctorwas interested in the Trump tower because of its downtown location and "spectacular" views.

Chen stayed at the sales eventfor about anhour, going over details with Lily Korstanje, who was leading the event.

After leaving the presentation for lunch, Chendecided to make an offer on an "exclusive" unit. Shewent to the bank, withdrewthe 10 per cent deposit and returned to the sales event before 5 p.m.

Korstanjeand Chen went over a disclosure statement and purchase agreement, with the developer highlighting key points as theywent.

A disclosure statement has detailed information on everything a seller knows about a property that a prospective buyer would want to know. Strata condo statements can containinformation about factors ranging from potential structural issues to parking stalls.

During the meeting, Chen signed a documentstating she'd read the disclosure statement and that she would have a week to change her mind. The buyer opted not to call a real estate agent to sit in themeeting.

Court documents said Chen spent less than three hours with the developer before making her deposit and thatshe ultimately decided not to go ahead with the purchase, because the unit"did not meet her needs."

In her notice of civil claim, Chen admitted she'd had enough time to "read" the disclosure statementbut not enough to properly "understand" the document.

Supreme Court Justice Robert Sewellrejected that argument.

Chen also said the statement didn't include all of the facts about the unit, some of which contributed to her change of heart. Sewell didn't accept that reasoningeither.

The 63-storey Trump tower has more than 200 units ranging in price from $619,000 to $6.7 million. The condos sold out in May 2016.

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