A RECENT UPDATE ON IMMIGRATION INTO CANADA
As the Canadian government continues to implement measures to tighten the number of temporary residents within the country and control surging population growth concerns, it comes with no surprise that Canada has seen its largest decline in temporary residents’ population in over 50 years.
What Happens If You Cannot Close on Your Pre-Construction Condo Purchase?
Purchasing a pre-construction condominium can be an exciting opportunity. You secure a brand-new home at today’s prices, often with time to plan ahead for move-in. However, purchasers should be aware that failing to close on a pre-construction transaction can have serious legal and financial consequences.
A common misconception is that if a purchaser is unable to close, the builder will simply return their deposit and both parties will move on. Unfortunately, this is rarely the case.
What Happens If Your Pre-construction Project Gets Cancelled?
What happens if the pre-construction project you invested in gets cancelled? From financial risks to legal protections, it's important to know your options. Discover how to safeguard your investment and reduce the chances of being caught off guard. Read more to learn the steps you can take.
Knowing Your Rights to Delayed Occupancy Compensation Under the Tarion New Home Warranty
Did you know that under the Ontario New Home Warranties Plan Act, all new homes built in Ontario come with a builder-provided warranty? This includes compensation for delays in occupancy or closing dates. Understanding your rights and the process for claiming delayed occupancy compensation is essential. From the critical dates in your purchase agreement to the calculation of compensation and how to file a claim, there are several key details to be aware of. Don't miss out on crucial information that could impact your new home purchase.
All Assignment Sales & Substantial Renovations Are GST/HST Taxable
As of May 7, 2022, all assignment sales of newly constructed or substantially renovated residential housing are subject to GST/HST. This change impacts all assignment transactions, making them HST-taxable supplies. Learn how this affects your real estate transactions and what steps you should take.
Preparing for the Occupancy Date/Interim Closing of Your Pre-Construction Property
Understand the crucial steps of Interim Closing and Occupancy for your pre-construction condo. Learn what to expect during the Occupancy Period, how to handle Interim Occupancy Fees, and prepare for your Pre-Delivery Inspection. Get ready for Final Closing with essential tips on managing payments, securing your mortgage, and more. Perfect your move with our comprehensive guide on navigating the transition from buyer to homeowner.