Real Estate Info

Registration refers to the formal creation of a condominium corporation. The condominium registration occurs when all of the units and common elements in the building have been substantially completed. Once construction has been completed, the developer will initiate the condominium registration through the Land Registry Office.

When you purchase a pre-construction condo, there are a few documents that you will need to review. It’s crucial that you fully understand all of the information in these documents so that you know your rights as a buyer as well as the developer’s rights.

If you purchased a pre-construction condo, you may have heard the term Development Charges. These charges are considered a closing cost that you would pay on final closing when you receive the title transfer to your new home. Development Charges are defined as a fee charged by municipalities to recover the cost of growth.

When you purchase a pre-construction condo unit, you are entitled to a “10 Day Cooling Off” period. This means that once you and the developer sign the Agreement of Purchase and Sale and you receive a copy of the agreement plus any other documentation that makes the agreement binding, you then have 10 calendar days where your unit is reserved, and you can take the time to review the contract.

“Section 37” refers to the section of Ontario’s Planning Act that allows developers to bypass specific zoning regulations with the condition that they provide the community with benefits. Section 37 is a key planning tool available to every municipality to ensure that certain developments are accompanied by a new community benefit that will help enhance the quality of life for every resident.

As an investor, you might be wondering how condo developers determine the price per square foot for a condo unit and how much it actually costs to build a condo. There are many factors that go into pricing pre-construction condos such as the cost of purchasing land, construction costs and government charges.

The first-time home buyer incentive is a shared equity mortgage with the Government of Canada that allows you to borrow 5% or 10% of the purchase price of a home. The First Time Home Buyer Incentive is designed to make home ownership more affordable for first-time buyers by lowering monthly mortgage payments.

This charge will transition away from Section 37 Levies and will soon replace them. Recently, a new Bill was introduced under the Planning Act that makes some changes to Section 37. Bill 197 was created as part of the COVID-19 Economic Recovery Act, 2020.

All condo projects or phases that go to market after January 1, 2020, must include an information sheet at the front of the purchase agreement that outlines some of the key potential risks of buying a condominium unit in the pre-construction phase. Condo project cancellations aren’t common but it is still important to know the risks…

For purchasers of brand new condo units, the Statement of Critical Dates highlights the dates you can expect to take occupancy of your unit. These dates are also designed to protect you when there are construction delays and to create transparency between both the purchaser and the builder…

There are many terms used in the pre-construction condominium and real estate market. This glossary will provide a list of terms and definitions commonly used in the industry to help you gain a deeper understanding of the pre-construction condominium market and the buying process.

Your PDI will likely occur a few weeks before your occupancy date. As much as this is an introduction to your new property, the objective of this inspection is to create a written record of all items that are, damaged, missing, inaccessible, not operating correctly or otherwise deficient before you take possession…

When you invest in a pre-construction condominium you can expect that this is one of the surest ways to grow your money. But how does investing in pre-construction condominium units compare to investing in resale homes or other investments? We’ll tell you why investing in pre-construction condos is one of the best investments you can make…

Purchasing a pre-construction condominium unit is a big investment and many interested investors may have a lot of questions. Our job is to make your condo investment a seamless process that’s why we listed some Frequently Asked Questions to answer some of the toughest questions you may have…

There are many advantages to buying a pre-construction condominium with a Platinum Agent. There are a list of steps involved in the Platinum Agent process…

Buying a pre-construction condominium is a little different than purchasing a re-sale unit. Two different closing stages involved, known as the Interim Occupancy phase and the Final Closing phase.

An assignment is a contract of the pre-construction condominium suite that you purchased and a benefit of an assignment is that it could be sold before you move in…

If you’re interested in purchasing a pre-construction condo, it’s important to know about the process beforehand. This way there are no surprises!

We’ll break down some of the advantages and disadvantages of renting versus buying. This way, you’ll be able to make a more informed decision…

The greatest thing about making investments in real estate is that there are so many different options. But what is the right choice for you? Is buying a condo a good investment?

Understanding all of the costs involved is important when choosing a condominium unit. We will give all of the information you need to know so there are no unexpected surprises…