Questions asked by every CONDOMINIUM PURCHASER Buying a brand-new condominium is a thrilling experience, and that’s putting it mildly. However, when you begin to feel more at home in your new surroundings, you may have some questions. Some of the more frequent examples are listed below. How might my situation be affected by interim occupancy? […]
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PRE-CONSTRUCTION ASSIGNMENT SALE IS ADVANTAGEOUS Things can shift rapidly in life, for better or worse. The Agreement of Purchase and Sale includes a no-assignment clause for the security of both the original purchaser and the developer. It normally takes about four to five years to finish building a condo from the ground up, and even longer
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Positive Aspects of Making a Pre-Construction Purchase In addition to saving yourself four years or more of waiting for new pre-construction, negotiating the purchase price, and securing a brand-new, never-lived-in home with full Tarion guarantee, there are a number of other advantages to purchasing a pre-construction assignment unit shortly before closing. Laura wants to buy
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How to sell pre-construction condo It is the obligation of the original buyer to abide by the conditions of the Purchase and Sale Agreement. At the conclusion of a pre-construction assignment sale, the new buyer takes over the obligations. Due to the complexity involved, the process must be closely monitored till completion. For instance, an
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Discover before building You’ve been looking for a new place to call home for what feels like forever, but nothing is quite right. Instead, you’ve made up your mind to commission the construction of your ideal house on land you already own. Even while well-meaning relatives and neighbours may offer to help by recommending builders,
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A GUIDE FOR INTERIM OCCUPANCY In some cases, pre-construction condo buyers will be allowed to move in to their finished unit before the rest of the building is ready. This is known as “interim occupancy,” and it is permitted until the city has determined that the building is secure for occupants. Condo buyers often misunderstand
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Deposit protection eases homebuying stress Putting down a sizable deposit to secure the purchase of a new-construction house or condominium is a significant step in the home-buying process. Similar to the rising cost of housing, the cost of making a deposit has also increased dramatically. If you make a down payment on a new house
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IMPORTANCE OF PERFORMANCE AUDIT If you have recently joined the board of a newly-registered condominium building, you will certainly encounter a number of unfamiliar procedures and terms. The “performance audit” is one of these. The performance audit is a crucial component of the warranty on the common aspects of the project, which you and the
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Living in Main Floors- A Great matter of importance for Aging Canadians who want a Pleasant Life Ahead The main floor, single storey living is in high demand for elderly Canadians who want to spend their years living peacefully at their homes. A survey conducted by Royal Lepage reveals that 44 percent of the answerers say
A Drop in price of new-construction homes by $60,000 in January In comparison to December, the price of new construction homes in the Toronto region was slightly lower in January. This was due to the fact that the number of condos sold reached an all-time high, while the availability of single-family homes continued to decrease.
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