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#VerityAnswers – When Do I Choose My Finishes And How Do I Pay For Them?

#VerityAnswers – When Do I Choose My Finishes And How Do I Pay For Them?

Choosing finishes can be fun. 🙂  You normally choose your finishes about 8-12 months before you occupy the new construction condo you’ve purchased.  How are you notified when to choose your finishes?  You’ll be contacted by the developer via email or a phone call to book an appointment to view and select your finishes. They’ll…

#VerityAnswers – What is Interim Occupancy?

#VerityAnswers – What is Interim Occupancy?

Interim occupancy is the period of time between the day you occupy your unit (move in) and the day you take ownership (close and get your mortgage). Interim occupancy is the point at which you are forced to move into your new construction condo and pay a fee (called the interim occupancy fee, which is…

#VerityAnswers – Should I Compare Mortgage Rates?

#VerityAnswers – Should I Compare Mortgage Rates?

Yes, you should compare mortgage rates. Whether you are working with a big bank mortgage specialist or a mortgage broker, we think it is prudent to have someone working on your behalf, not only to get the best rate but also the best terms. Rates are important but a great mortgage broker will customize a…

#VerityAnswers – Should I Buy Parking When I Buy a Condo?

#VerityAnswers – Should I Buy Parking When I Buy a Condo?

We used to always encourage buyers to purchase parking, if they had the option to get a condo with parking. Now, we recommend considering your exit strategy when thinking about parking. Think about the Buyer who will be buying this condo from you, in the future, and whether or not they will want a parking…

#VerityAnswers – Offer Process Explained

#VerityAnswers – Offer Process Explained

When you submit an offer (not multiple offers or where you are competing against another buyer for a property) the process typically follows a series of logical steps. Before we begin, let’s outline the players involved. There is a Buyer and their realtor, the Buying Realtor. There is the Seller and their realtor, the Selling…

#VerityAnswers – When do I need a Lawyer involved in my home buying transaction?

#VerityAnswers – When do I need a Lawyer involved in my home buying transaction?

In Toronto, if you’re buying a house, the buyer’s lawyer doesn’t usually get involved until after the purchase has been made, unless there are extenuating circumstances where a lawyer’s expertise is required. You can have a lawyer review the offer paperwork and clauses before you submit an offer but again typically, for houses, most lawyers…