Here in Ontario, condos are an increasingly popular choice among new home buyers – but they’re not without certain risks, and anyone interested in buying a pre-construction condo should be aware of what’s involved.
For this episode of Tarion Talks, our host Daniel Caprara is joined by two of Tarion’s condominium experts – Ben Carino, from our legal team, and Assunta Salvato, from our Warranty Services department – to learn more about not only the risks, but some of the more exciting aspects of pre-construction condos as well.
Topics discussed in this episode include:
Understanding the Agreement of Purchase and Sale, and how it applies to certain aspects of a pre-construction condominium. A high-level overview of delays and cancellations, how they occur, and protection that is available to buyers. Possible variations between what was in your unit’s plans, and what may be found in the finished condominium. An explanation of “interim occupancy,” and other tips for what you can expect when you first move into a newly-completed condominium unit.