Buyers

The Ten Day Cooling Period – Shawn Gandhi

In Ontario, The Condominium Act provides purchasers with a protection known as the “Ten Day Cooling Period”.  This act is only applicable for new condo sales straight from the builder and does not apply to re-sale transactions. In essence the Ontario Condominium Act puts some obligation on the builders to act in good-faith.  On purchasing a unit, the buyer is required...

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Occupancy Fees – Shawn Gandhi

In a condominium environment, each homeowner is always required to pay a monthly maintenance fee.  Maintenance Fees are established in the 1st budget and include an estimate of income and expenses for a certain time period, typically one year, prepared by the developer/builder. In the event of Interim Closing (the occupancy of a proposed unit before title is received) which...

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