There are certain rules you need to keep in mind before buying a condominium like no dogs, bicycles in premises, etc. Each condominium corporation has rules and by-laws. Firstly, you need to read your agreement documents carefully when buying a new condominium.
Special Considerations applying to condominiums
- You have to get it registered in the Ontario New Home Warranty Program. Condominium purchasers should confirm that the builder is registered and check the buyer rating in the program. If the builder is not listed in the warranty program when the agreement is signed, a court will still require the condominium purchaser to complete the transaction.
- The closing date for resale homes in buying or selling will not change without the consent of both parties. However, the buyer cannot be unreasonable and must agree to a short extension if any small problem surfaces like an old construction lien on the title or an undischarged mortgage.
- After signing the purchasing agreement for the residential condominium and receiving the disclosure statement, the purchaser has a 10-day cooling-off period in which he can change his mind
- If the seller tells false facts regarding the property to the purchaser then he has the right to refuse the transaction. Any kind of fraudulent misrepresentation can set the transaction aside
- If a party exploits a pre-existing close relationship under the influence of the other party or does not disclose facts, the transaction can be set aside.
We provide a team of choice and a range of legal services to the condominium corporations, owners, owners’ associations, and builders. Our experienced and efficient team makes sure you get timely advice to successfully launch a cost-effective resolution to your problem. Our dedicated approach can help you avoid litigation, but if necessary, we are competent in providing you with the best representation before courts, mediations, and arbitrations.
We provide services with:
- Residential, commercial, industrial transactions
- Documentation and agreements
- Developer’s Sales Packages
- Site plan analysis
- “Leaky Condo” litigation
- Maintenance arrear collection
- Property renovation disputes
- Project tenure, structure recommendations
- Easements, rights of way, and covenants
- Common property use, rental, noise bylaw disputes
Call 416-221-2221 for more information, visit Juzkiw Law Office