Category: Articles

Condo Assignment

To be able to understand what an assignment is, you need to know a few things: When a Buyer agrees to buy a condo from a builder during the pre-construction phase, they sign a pre-construction purchase contract (with a price, terms and conditions, deposit, etc.) When the new condo …

2018 Trends To Watch

The Impact of the Stress Test In October 2017, Canada’s banking regulator (OFSI) announced changes to how lenders qualify Buyers. In short: effective Jan 1, 2018, home buyers need to qualify for a mortgage at the greater of the Bank of Canada’s five-year posted rate or 2% higher …

14 Common Myths About Condos

1. I own it, and I can renovate it how I want. Unfortunately, this is false. Any major renovation in your condo will require board approval – and while it’s usually in the best interest of the condo board to keep the residents happy and approve renovations (they …

Important Factors To Consider

Toronto’s pre-construction market for condos is on fire once again. Here are 10 things you need to know before falling in love with that model suite: The Deposit – While purchasers of resale condos in Toronto generally provide a deposit of 5% upon signing of the agreement, builders generally require …