I do not think you can sell a unit in X (before it registers) UNLESS you had an extra clause written into your contract saying you can sell the unit and transfer the name for a extra $2500 fee. My lawyer had this revision to the contract when I noticed it was not included.

GGH is very fast at registering their condos, I do not think it will be longer than 6 months after they begin to move people in.
 
Urban Trekker said:
1) Is it worth it do get any upgrades giving that there is a good chance I will just be selling it? If so, which upgrades do you think are a minimum MUST?

2) Is it possible to sell prior to closing? (Nothing illegal, just want to know if it is possible)

3)Xcondo, you said something about not living in Toronto, so you won't be living in it and can't live in it for a year. Is that a minimum living time before resale? Will you rent? Is it a good market to rent? Otherwise, if you are selling, how are you doing so?
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  1. if you intent to live in the unit for a few (~5) years before selling, then yes upgrades are probably a good idea because you can actually enjoy it ... otherwise paying for upgrades for a unit simply to be 'flipped' is not warranted IMO ... your selling price may not recover the upgrade cost
  2. yes it is possible to sell prior to closing assuming you have an Agreement of Purchase & Sale with the builder, you are likely allowed to 'reassign' it to another purchaser for a fee (ranges approxfrom $0 to $5000)
  3. there is no minimum living time before you sell a unit ... a minimum living time before you sell (I think 1 year?) only applies if you are trying to avoid paying capital gain tax on earnings from property value appreciation which is exempted for one's primary residence
 
Solaris said:
  1. there is no minimum living time before you sell a unit ... a minimum living time before you sell (I think 1 year?) only applies if you are trying to avoid paying capital gain tax on earnings from property value appreciation which is exempted for one's primary residence
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With regards to capital gains tax, it's a minimum one year of not just living, but ownership, before the gains are exempt. Something to keep in mind as interim occupancy doesn't count towards that one year.
 
thanks simuls ... my response #3 above of course is based on the understanding that one lives in a unit that they OWN for a year before they SELL it ... it would be hard to sell a unit that you don't own (other than reassignment pre-construction)
 
I dropped by the sales centre today. I was wondering if anybody would care to share what unit they bought and the price they paid as they seem to have some pretty significant incentives going on right now (10-20% discount) on their remaining units, but before I go farther, I want to know if they've just upped the initial price to make it seem like a larger discount. I'm thinking specifically about the Eames and Corbusier units. Thanks.
 
simuls said:
I dropped by the sales centre today. I was wondering if anybody would care to share what unit they bought and the price they paid as they seem to have some pretty significant incentives going on right now (10-20% discount) on their remaining units, but before I go farther, I want to know if they've just upped the initial price to make it seem like a larger discount. I'm thinking specifically about the Eames and Corbusier units. Thanks.
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Ohhh, what kind of incentives are they giving the Eames units?

edit: I'm looking at my preview pricelist and it says Eames is priced at $365,990 and Corbusier is $397,990
 
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Price List - Groupius

tissot said:
Ohhh, what kind of incentives are they giving the Eames units?

edit: I'm looking at my preview pricelist and it says Eames is priced at $365,990 and Corbusier is $397,990
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Do you happen to have the pricelist for the Groupius?

Thanks!
 
Really?

That can't be right, can it? For the Groupius?

Did not think it would be that much? I'm kinda in shock.

Are you sure it's not $239,900?
 
Urban Trekker said:
That can't be right, can it? For the Groupius?

Did not think it would be that much? I'm kinda in shock.

Are you sure it's not $239,900?
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Just did a second take and It is $339,990. But that's from the 35th-43rd floor.

Anyone know the premium for 8ft to 9ft ceilings?
 
what about for the first 5 floors?

(wish I could have got higher!)

I believe it was originally $500 per floor and I thought $5K with the premium ceilings. But I could be wrong.
 
Urban Trekker said:
what about for the first 5 floors?

(wish I could have got higher!)

I believe it was originally $500 per floor and I thought $5K with the premium ceilings. But I could be wrong.
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Doesn't say. I'm going to guess they sold all the Groupius below the 35th. They have Mackintosh from the 41-43 for $324,990. Bare in mind my pricelist is about 2 months old, so I'm not sure what they have now.
 
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