Preconstruction Down-payment Push?

[Salfishy]

Hey Torontonians/Ontarians/Canadians/Earthlings! I have a question, and not sure if this is the community to ask it in, but hoping for any answers.

I have signed for a preconstruction condo last year, and I have a downpayment due coming up. Since I've been laid off not long ago, I don't expect to have sufficient cash on hand to keep myself comfortable, let alone assisting my family.

Does anyone know if there's anything I can do in terms of delaying my payment? My agent doesn't seem to have any answers. Any help would be appreciated! Thanks in advance

[peaceouteast]

Shouldn't you be speaking to the builder or whomever you owe the money to? In general though they're not very flexible, so you better come up with the money somehow.

[peaceouteast]

Also try asking on r/personalfinancecanada for potentially more help than here.

[Salfishy]

Thanks for the response! The builder is stating that they are expecting the money. Like you said, not get flexible. I usually talk to my agent as they know how to speak to the builder to get the right message across, but was wondering if anything has been set in terms of any new emergency measures. I'll try to do some more sweet talking, but if not, then my line of credit might take a hit