As of January 1, 2021, developers across the province are required to provide purchasers of new or pre-construction residential condos with a copy of the guide at the time of purchase and sale.
The guide includes information on a variety of aspects of condo ownership, including:
- The condo purchasing process
- Information surrounding purchases of pre-construction units
- Condo living and governance
- Resources for resolving issues related to condo living
Under the Condo Act, purchase agreements for new or pre-construction condos purchased from developers are not binding on purchasers until developers provide purchasers with a copy of the current disclosure statement. As of January 1, 2021, this requirement has been amended to also require developers to provide a copy of the guide.
While Ontario REALTORS® are not required to provide the guide to their clients/customers purchasing a new or pre-construction condo, We believe the guide provides useful information for consumers buying a new or pre-construction condo.
Contact me for a copy of the Guide: 905.808.1586