GTAConstruction
Active Member
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Time and Space Condos (Pemberton) - Real Estate -
- Thread starter crestron
- Start date
Electrixsun
New Member
Occupancy usually happens well before final closing. The developer has to wait for registration with the city to close. So occupancy timelines could still be on track. I've bought several times off plan and have waited 6 months to over a year between occupancy and final closing (depending on floor). In the time between occupancy and closing, you just pay the occupancy fee to the developer.
GTAConstruction
Active Member
Unit for assignment:
- Southwest View
- Corner unit
- 950-1000 sq. ft.
- More than 600 sq. ft. of terrace plus a balcony
- 10 ft. ceiling
- 2 bedrooms
- 3 full bathrooms (one main washroom and two ensuites)
- Easy access to all major indoor and outdoor amenities
- 2 parking spots
- 1 locker
For more information, please contact me.
- Southwest View
- Corner unit
- 950-1000 sq. ft.
- More than 600 sq. ft. of terrace plus a balcony
- 10 ft. ceiling
- 2 bedrooms
- 3 full bathrooms (one main washroom and two ensuites)
- Easy access to all major indoor and outdoor amenities
- 2 parking spots
- 1 locker
For more information, please contact me.
Last edited:
Hua-er
New Member
Hi I am looking for a unit in this project , may I have more detail of this unit? floor plan, which floor and price . Thanks .
Kama
New Member
To get an assignment unit, permission from the builder is required. Wouldn’t it be difficult to get one?
GTAConstruction
Active Member
It wouldn't be a problem. As part of the purchase and sale agreement, the builder will allow the buyer to do an assignment for a fee.
skov555
New Member
Does anyone have information on how many total parking spots are available in the building is it worth it to purchase it for 65K or not in this building?
Kama
New Member
"Projected" by whom?
Kama
New Member
As far as I saw in new buildings parking is more expensive. Not sure one can buy a parking spot without to be an owner.
Kama
New Member
I doubt that.
The assignment sale is on discretion of the builder rather a purchaser. Here is verbatim from my P&S agreement:
“The Purchaser covenants not to offer, list or advertise for sale, lease or transfer the Unit, nor to sell, lease, assign or transfer his interest under this Agreement (or in the Unit) until after acquisition of title to the Unit on the Unit Transfer Date and the Vendor having received payment of all of the Purchase Price, without the prior written consent of the Vendor, which consent may be arbitrarily and/or unreasonably withheld. As a condition of giving its consent, the assignor/transferor and the assignee/transferee will be required to execute and deliver to the Vendor the Vendor's standard form of assignment agreement and to pay to the Vendor on the date of execution and delivery of the assignment agreement the Vendor's administration and processing fee of $1 ,500.00 plus Applicable Taxes together with any other applicable fees, including the Vendor's solicitor's fees and disbursements plus Applicable Taxes.”
I cannot see anything here suggesting a right for assignment sale by a buyer.
Kama
New Member
Is it common now? Is it coming for T&S too?
Ontario woman charged $280,000 extra for condo despite having signed contract
People who bought units in an Ontario condominium development said they were shocked when the developer raised prices and demanded more money despite them having signed contracts.
Read in CTV News: https://apple.news/A3KO1HYR8Qd-CjCDrmp0XNg
Ontario woman charged $280,000 extra for condo despite having signed contract
People who bought units in an Ontario condominium development said they were shocked when the developer raised prices and demanded more money despite them having signed contracts.
Read in CTV News: https://apple.news/A3KO1HYR8Qd-CjCDrmp0XNg
Electrixsun
New Member
It's important to do your due diligence. While developers have huge power to changes terms of the contract at any point, a reputable developer like Pemberton wouldn't risk their reputation and turn buyers off from future projects.
Sometimes smaller developers or start ups don't have the cash flow or capital to cover losses on a particular project and don't have as much to lose with these kinds of shady changes, regardless of their arguments for them.
It's extremely unlikely a developer like Pemberton would do this. And, it's important to research the company/developers in which you're investing.
Szbjsh
New Member
Can the unit be Leased during interim occupancy for this project?
Electrixsun
New Member
Good Question. This article has some good info.. But, always best to check with the developer.
The Ultimate Guide to Renting Out Your Condo During the Occupancy Period
This is the ultimate guide for you to understand the ins and outs of renting your condo during the occupancy period.
truecondos.com
Szbjsh
New Member
Thanks. I am at southwest tower and I suspect interim occupancy will be long due to waiting on north tower to finish. If I can't rent out the unit, I may have to fork out for 1 year of occupancy fees.Good Question. This article has some good info.. But, always best to check with the developer.
The Ultimate Guide to Renting Out Your Condo During the Occupancy Period
This is the ultimate guide for you to understand the ins and outs of renting your condo during the occupancy period.