What is Interim Occupancy fee?

The closing date is when the ownership of the condominium suite is registered and transferred over to the buyer (you) from the builder. This registration cannot take place until all the suites in the condominium building have reached a degree of construction (as set out in the regulations of the Condo Act). However, before the [...]

By |2016-11-22T15:57:01+00:00November 22nd, 2016||Comments Off on What is Interim Occupancy fee?

As an Investor what should I know?

All suite pricing is sold net of the HST rebate to qualified purchase.  In the event that the purchaser does not qualify (eg. Not your primary residence, not a Canadian Citizen/Resident) will have to pay an amount equal to the HST rebate to the vendor on closing. As stated in the Purchase and Sale Agreement; [...]

By |2018-02-21T21:47:03+00:00November 22nd, 2016||Comments Off on As an Investor what should I know?

Will my deposit be protected?

When buying a pre-construction condo from a reputable developer, your purchase is covered by the Tarion Warranty Corporation, TRION provides deposit protection of up to a maximum of $20,000. Any deposits greater than $20,000 will either be held in Lawyers trust account. This way, in the unlikely event that the condo project is not completed, [...]

By |2018-02-21T21:47:03+00:00November 22nd, 2016||Comments Off on Will my deposit be protected?

Will I need to see a lawyer prior to purchasing a suite?

No, however it is your responsibility to deliver the Agreement of Purchase and Sale (APS) to your lawyer once it has been accepted. There will be a conditional period for lawyer review for 10 calendar days (not business days).  Once the 10 calendar days has been reached, your APS will be firm and binding, unless [...]

By |2016-11-22T15:43:35+00:00November 22nd, 2016||Comments Off on Will I need to see a lawyer prior to purchasing a suite?

What is the deposit structure set up?

Deposit structure is as follows: $5,000 due the day of signing Balance to 5% @ 30 days 5% @ 90 days 5% @ 120 days Cheques will be payable to Wynne, Pringle, Jeske & Kovacs, In Trust 5% of balance due of the Purchase Price will be payable on the Interim Occupancy Date.

By |2018-03-19T17:45:49+00:00November 22nd, 2016||Comments Off on What is the deposit structure set up?
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