X - The Condominium (Great Gulf Homes) - Real Estate -

Guys, how hard is it to book the elevator for a Saturday and do they usually give you a half or full day with the elevator?
 
It was easy 1 month ago, they give you 3 hours :), but if you are nice (or the only one moving in :)), they give you two slots, I got 9-12am and 12-3pm.
 
For us - 2% of the purchase price. We had also some interest on the downpayment, so we paid the builder just 1% extra. The other 1% went to the lawyer and for the land transfer tax :) ...
The adjustments, (our lawyer called them "Death by towsand cuts" :)) small amounts of money for this and that, but not a big deal ...Whoever signed a cap on them will maybe avoid paying 800-1000 bucks for nothing.
In the final amount are also the estimated taxes for 2010 and 2011, turns out the builder is allowed to collect them in advance and pay them later on our behalf. So most of the money you are getting back at some point. $944 for the public art you are likely not getting back, which is pitty, I would have spend them much wiser, on better art pieces :) ....
 
There is actually a petition around to change (exchange it with the builder with no cost) the art work. Someone came to my door to ask to sign it.
 
It makes sense that owners will have a say especially because we are forced to pay for it. How can I sign too? My occupancy date is on March. Go Condo


X Condo said:
There is actually a petition around to change (exchange it with the builder with no cost) the art work. Someone came to my door to ask to sign it.
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Tarion is $630.
The public art was in the agreement, we agreed to have a sculpture in front of the building when we agreed to buy.
I am not sure that the art in the lobby is in this amount of money too, probably not :)
 
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I finished my closing yesterday. Yes it was a lot but a good chunk of it went to the upfront taxes for 2011 which the builder will submit on our behalf. Yes we'll end up paying it at some point but thing is we are paying it all now instead of however we wish to pay it. Other than that, my lawyer said that a lot of what was charged was pretty standard and the interest on builder what we were paying during occupancy he said was very reasonable. So overall he said it was one of the better closings to deal with. Yes there are a lot of BS costs but he said most of these were standard and can't be avoided. He did share with me horror stories of other builders where some of them would charge 5 percent plus prime on interest to the builder part of the occupancy.

It is all done now, officially a title holder of property for the first time in my life. Hello mortgage!
 
pete242 said:
He did share with me horror stories of other builders where some of them would charge 5 percent plus prime on interest to the builder part of the occupancy.
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the interest rate is dictated by the Condo Act, at whatever the prevailing rate at time of closing is.
so the example your lawyer gave can't be current ... maybe before the Condo Act was amended a decade + ago !?!?
 
cdr108 said:
the interest rate is dictated by the Condo Act, at whatever the prevailing rate at time of closing is.
so the example your lawyer gave can't be current ... maybe before the Condo Act was amended a decade + ago !?!?
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It's the prevailing commercial rate though isn't it? That is, essentially what the builder should be paying for interest on their loan is passed through.

Commercial rates went up pretty rapidly a couple years ago.
 
pete242 said:
He did share with me horror stories of other builders where some of them would charge 5 percent plus prime on interest to the builder part of the occupancy.
!
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That's not true, the interest rate is dictated by the Condo Act and it is always the conventional mortgage 1 year rate stated by Bank of Canada, which is currently 3.35%
 
Has anyone found someone to provide shelves for their upper kitchen cabinets? Imagine my surprise to find out they are not included, although they were so generous to drill the holes for the shelf supports (sarcasm). Any suggestions?
 
djjbtoronto said:
Has anyone found someone to provide shelves for their upper kitchen cabinets? Imagine my surprise to find out they are not included, although they were so generous to drill the holes for the shelf supports (sarcasm). Any suggestions?
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are you serious ... no shelves ?!?!?
i guess you could go to ikea and see if theirs fit, or maybe home depot, lowe's, rona, etc.
 
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