RZ12 said:
Final Closing projected now Q1 2024 WOW!
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Occupancy usually happens well before final closing. The developer has to wait for registration with the city to close. So occupancy timelines could still be on track. I've bought several times off plan and have waited 6 months to over a year between occupancy and final closing (depending on floor). In the time between occupancy and closing, you just pay the occupancy fee to the developer.
 
Unit for assignment:

- Southwest View
- Corner unit
- 950-1000 sq. ft.
- More than 600 sq. ft. of terrace plus a balcony
- 10 ft. ceiling
- 2 bedrooms
- 3 full bathrooms (one main washroom and two ensuites)
- Easy access to all major indoor and outdoor amenities
- 2 parking spots
- 1 locker

For more information, please contact me.
 
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GTAConstruction said:
Unit for assignment:

- Southwest View
- Corner unit
- 950-1000 sq. ft.
- More than 600 sq. ft. of terrace plus a balcony
- 10 ft. ceiling
- 2 bedrooms
- 3 full bathrooms (one main washroom and two ensuites)
- Easy access to all major indoor and outdoor amenities
- 2 parking spots
- 1 locker

For more information, please contact me.
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Hi I am looking for a unit in this project , may I have more detail of this unit? floor plan, which floor and price . Thanks .
 
Hua-er said:
Hi I am looking for a unit in this project , may I have more detail of this unit? floor plan, which floor and price . Thanks .
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To get an assignment unit, permission from the builder is required. Wouldn’t it be difficult to get one?
 
Kama said:
To get an assignment unit, permission from the builder is required. Wouldn’t it be difficult to get one?
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It wouldn't be a problem. As part of the purchase and sale agreement, the builder will allow the buyer to do an assignment for a fee.
 
Does anyone have information on how many total parking spots are available in the building is it worth it to purchase it for 65K or not in this building?
 
skov555 said:
Does anyone have information on how many total parking spots are available in the building is it worth it to purchase it for 65K or not in this building?
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As far as I saw in new buildings parking is more expensive. Not sure one can buy a parking spot without to be an owner.
 
GTAConstruction said:
It wouldn't be a problem. As part of the purchase and sale agreement, the builder will allow the buyer to do an assignment for a fee.
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I doubt that.

The assignment sale is on discretion of the builder rather a purchaser. Here is verbatim from my P&S agreement:

“The Purchaser covenants not to offer, list or advertise for sale, lease or transfer the Unit, nor to sell, lease, assign or transfer his interest under this Agreement (or in the Unit) until after acquisition of title to the Unit on the Unit Transfer Date and the Vendor having received payment of all of the Purchase Price, without the prior written consent of the Vendor, which consent may be arbitrarily and/or unreasonably withheld. As a condition of giving its consent, the assignor/transferor and the assignee/transferee will be required to execute and deliver to the Vendor the Vendor's standard form of assignment agreement and to pay to the Vendor on the date of execution and delivery of the assignment agreement the Vendor's administration and processing fee of $1 ,500.00 plus Applicable Taxes together with any other applicable fees, including the Vendor's solicitor's fees and disbursements plus Applicable Taxes.”


I cannot see anything here suggesting a right for assignment sale by a buyer.
 
Is it common now? Is it coming for T&S too?

Ontario woman charged $280,000 extra for condo despite having signed contract
People who bought units in an Ontario condominium development said they were shocked when the developer raised prices and demanded more money despite them having signed contracts.
Read in CTV News: https://apple.news/A3KO1HYR8Qd-CjCDrmp0XNg
 
Kama said:
Is it common now? Is it coming for T&S too?

Ontario woman charged $280,000 extra for condo despite having signed contract
People who bought units in an Ontario condominium development said they were shocked when the developer raised prices and demanded more money despite them having signed contracts.
Read in CTV News: https://apple.news/A3KO1HYR8Qd-CjCDrmp0XNg
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It's important to do your due diligence. While developers have huge power to changes terms of the contract at any point, a reputable developer like Pemberton wouldn't risk their reputation and turn buyers off from future projects.

Sometimes smaller developers or start ups don't have the cash flow or capital to cover losses on a particular project and don't have as much to lose with these kinds of shady changes, regardless of their arguments for them.

It's extremely unlikely a developer like Pemberton would do this. And, it's important to research the company/developers in which you're investing.
 
Electrixsun said:
Occupancy usually happens well before final closing. The developer has to wait for registration with the city to close. So occupancy timelines could still be on track. I've bought several times off plan and have waited 6 months to over a year between occupancy and final closing (depending on floor). In the time between occupancy and closing, you just pay the occupancy fee to the developer.
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Can the unit be Leased during interim occupancy for this project?
 
Electrixsun said:
Good Question. This article has some good info.. But, always best to check with the developer.

truecondos.com

The Ultimate Guide to Renting Out Your Condo During the Occupancy Period

This is the ultimate guide for you to understand the ins and outs of renting your condo during the occupancy period.
truecondos.com truecondos.com
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Thanks. I am at southwest tower and I suspect interim occupancy will be long due to waiting on north tower to finish. If I can't rent out the unit, I may have to fork out for 1 year of occupancy fees.
 
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