It is important to understand that every condo launch cycle will be slightly different. With this is in mind, as a developer goes through the stages, they will typically increase prices and remove various incentives. The following stages represent a
At what point do I need to get a Mortgage when buying Pre-Construction Condos?
A mortgage is not required until final possession. Final possession is typically 3-5 years after the first round of sales for a condominium in Toronto. At the time of the final possession, the deposit money that you have already paid
What is the process to purchase at the beginning of a new condominium launch with a platinum agent?
Below are the typical steps involved in purchasing a suite at the beginning of a new condo launch. Platinum Agents tend to offer front of line access to the best projects and suites.
1. Selecting the Project
Perhaps one of
Why do I need to provide my SIN number when I purchase a condo?
When you want to purchase a pre-construction condominium you will need to put money down as a deposit. This deposit will sit in an Interest Bearing Trust Account and can be held for up to six or seven years. The
When does a lawyer get involved in the pre-construction condo purchase?
It is advisable to retain a lawyer at the very beginning of the pre-construction condo purchase. A lawyer will help you to review the Agreement of Purchase and Sale (APS), as well as other documents that you will need to