News   GLOBAL  |  Apr 02, 2020
A Message to Our Readers
 9.5K     0 
News   GLOBAL  |  Apr 01, 2020
EarthCam Time-Lapse Documents Rafael Viñoly-Designed New Stanford Hospital Construction
 40K     0 
News   GLOBAL  |  Apr 01, 2020
Resort Town
 5.4K     0 

Col thx for ur inputs. In Aug can i ask other than the final percent of the down payment, what else had u had to pay and approx how much? example 1500 = temporary rent + common expense? What else? What about final closing extras?

Lastly i'm confused, for the occupancy/initial closing there are some interest fees we have to pay to the builder? Dont we also make interest for our downpayments?

First time buyer and even talking to my lawyer/real estate agent, things are still hazy
 
Last edited:
On top of the final downpayment portion, you will have moving expenses (plus odds and ends, if you choose to paint right away, etc.), plus lawyer fees and you will need to give the builder post-dated cheques for your monthly "rent" which will include maintenance fees, property taxes and (I believe) hydro. All three of which you will need to pay on your own once you take full ownership of the unit. (The builder will pay your taxes during the first year from what you include in the cheques, however you will still receive a bill from the city which you need to pay, then the builder will re-imburse you.

Also, I'm pretty sure you don't make any interest on your downpayment.
 
Reading pg 114 , one other fellow mentions a interest payment of 1400 approx at final closing . and ends up paying only 3,000 in fees ,levies minus lawyer charges. col you sure u never got interest ,otherwise builder used it as cr to bring down your final closing costs?
 
Though my pdi won't be for another few months, would i have a chance to just drop by M3, tell security i will be moving in in a few months and would like to walk around inside the building ? would it be possible to see my unit raw at this time?

Reading some prior pages, some people were talking about seeing other units than theirs when the inside of the building was still raw.

April is approaching and i'm getting that butterfly feeling already
 
yaz16 said:
Reading pg 114 , one other fellow mentions a interest payment of 1400 approx at final closing . and ends up paying only 3,000 in fees ,levies minus lawyer charges. col you sure u never got interest ,otherwise builder used it as cr to bring down your final closing costs?
Click to expand...


In all honesty there were so many fees and so much paperwork, I may have had a refund worked into the fees and I just don't remember it. Rest assured you won't actually see that refund in cash, if anything it will only reduce the already high legal/moving costs
 
Any of you have issues with low level cracking, popping sounds out of the vents? Mainly when the heat is running, but a considerable time after that as well? Only hear it from the bedroom (on the other side of the heater)

As well, any of you have issues with the loudness of the heater when it turns on/off?
 
Joe Camel(Toe) said:
Any of you have issues with low level cracking, popping sounds out of the vents? Mainly when the heat is running, but a considerable time after that as well? Only hear it from the bedroom (on the other side of the heater)

As well, any of you have issues with the loudness of the heater when it turns on/off?
Click to expand...

Maybe something is loose in your vents?
 
Hi, I will have interim closing for my condo next week. My lawyer says I need to get insurance in the amount of not less than $2M. How did you guys arrange insurance?
 
bccl said:
Hi, I will have interim closing for my condo next week. My lawyer says I need to get insurance in the amount of not less than $2M. How did you guys arrange insurance?
Click to expand...

Shop for quotes online, make a choice, buy it. I walked into an RBC Insurance place near my office a day or 2 before closing and did it. Simple and painless.
 
I went with the agency that insures my car. Just call up your auto insurance agency and ask them what discount you'll get for insuring your home with them. Don't be afraid to shop around.

Also, most universities get alumni rates with large insurers, so if that applies to you, ask about it too
 
I priced things out with TD, RBC, All State and State Farm and found TD to be the cheapest. A month later a broker friend of mine got me to switch over to Chubb and their rates were even better, but I'm not sure if I got those rates because my friend hooked me up or if they just had the best rate. Long story short, shop around and don't be afraid to switch your car insurance to whomever offers the cheapest combo (home and car) rates.

There's no such thing as loyalty in the insurance business
 
Last edited:
col. forbin said:
I priced things out with TD, RBC, All State and State Farm and found TD to be the cheapest. A month later a broker friend of mine got me to switch over to Chubb and their rates were even better, but I'm not sure if I got those rates because my friend hooked me up or if they just had the best rate. Long story shor, shop around and don't be afraid to switch your car insurance to whomever offers the cheapest combo (home and car) rates.

There's no such thing as loyalty in the insurance business
Click to expand...

Belair there is.
10% off car insurance.
5% off home insurance.
You have to sign on both to get those discounts.
 
I meant more-so in the sense that you can stay with an insurance agency for 20 years and still get screwed over the first time you put in a claim. I've seen it happen too many times. And you ask your broker what about your loyalty and their trademark answer is always "there's nothing I can do"

You might save a couple bucks for signing a contract, but when you get in that car accident and can't work and your insurance agency treats you like you are trying to cheat them, then you will know what loyalty really means to them.

Bottom line, go with price, because as I said, sticking with an agency because you've been with them forever and they "know you" isn't a good enough reason.
 
Last edited:
You must log in or register to post here.

Back
Top