layla
New Member
I have to pay the Land Transfer as I used to live with my parents and I used to be a co-signer.
How is the Occupancy fee determined? Obviously it gets deducted from the total mortgage amount later, but I'm wondering how much I can expect to pay. Any ideas?
If you take a look at page 6 of the contract...
12. D (iii)
...the purchaser agrees to deliver to the Vendor....
"...a certified cheque reimbursing the vendor for any hydro service connection charges and/or hydro network meter charges and/or hydro energization in respect of the Condominium and/or the Property, the cost of the Warranty Corporation enrollment fee for the Property or any portion thereof,.."
And if you go to page 11 of the contract….
28. The purchaser agrees to adjust or reimburse the vendor for the following, namely,
“the cost of the tarion enrollment fee.”
Hopefully all of the cheques are just in case, I don't see why it would take them that long to register as a condo corp, with pretty much everyone moving in, in like a 3-4 month period. How much are they asking for on the post-dated cheques? I wonder how much is completed inside the units at this point. Vandyk seems quick to ask for money always, yet doesn't keep anyone in the loop with construction updates at all. Don't forget, once you take occupancy, you are responsible for the hydro as well. I also noticed it stated the hot water tank was a rental in the contract, I wonder who that is under contract with, hopefully the fees are not too high.
These letters are the first steps of preparing for the Park 570 closings! Congrats to our new home owners!