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Hearing March 2025 now for occupancy… has anybody received any updates?
Hearing March 2025 now for occupancy… has anybody received any updates?Mine is Aug 30 2024... i wouldn't be surprised if it was delayed another 3 months 2024 yr end?
My interim occupancy got pushed to Oct 31 for nowHearing March 2025 now for occupancy… has anybody received any updates?
Me too, just got the update as well.My interim occupancy got pushed to Oct 31 for now
Same hereMe too, just got the update as well.
Looking online, it seems the builder is permitted to collect interest on the balance of the purchase price (remaining 80% in most cases). The interest rate is linked to the Bank of Canada 1-year conventional mortgage rate. As of July 2024, the interest rate is 7.74%. It's awful, I know.Does any one have any idea about the interest for occupancy fee, not sure if we lucky that builder signed for fixed rate?
This is insane, one year seems the highest which also doesn’t drop as much as the actual interest cut.Looking online, it seems the builder is permitted to collect interest on the balance of the purchase price (remaining 80% in most cases). The interest rate is linked to the Bank of Canada 1-year conventional mortgage rate. As of July 2024, the interest rate is 7.74%. It's awful, I know.
This is insane, one year seems the highest which also doesn’t drop as much as the actual interest cut.
I heard that Every Builder do not charge BOC 1 year conventional mtge rate.Looking online, it seems the builder is permitted to collect interest on the balance of the purchase price (remaining 80% in most cases). The interest rate is linked to the Bank of Canada 1-year conventional mortgage rate. As of July 2024, the interest rate is 7.74%. It's awful, I know.