FAQs
What Is A Platinum Agent?
In the real estate market, as with any marketplace, knowing the meaning of industry terminology can make all the difference in your decision to buy or sell, and whom you work with in the transaction.
WHAT IS THE PROCESS OF BUYING A NEW PRE-CONSTRUCTION CONDO?
If you’ve never purchased a pre construction condo, understanding the process can be a little difficult for some. Here is an explanation of the general steps involved when purchasing a pre-construction condo.
WHAT IS THE 10 DAY RESCISSION PERIOD WHEN BUYING A PRE-CONSTRUCTION CONDO?
The 10 day rescission period is also know as the “cooling off” period. By law, developers give all buyers ten days to review the Agreement of Purchase and Sale, and all other pertaining documents with a lawyer.
IS THERE A PREMIUM FOR BUYING A CONDO ON A HIGHER FLOOR?
To put it plainly, yes. When purchasing a pre-construction condo you can expect the higher the floor you buy on, the higher the price will be as well. There is no standard price increment per floor, so the price may vary builder to builder.
HOW MUCH MONEY DO YOU NEED TO INVEST IN A PRE-CONSTRUCTION CONDO?
Purchasing a pre-construction condo is easier than you may think. Depending on the project’s deposit structure you can expect to put down between 5%-20%.
HOW DO DEPOSITS WORK WHEN BUYING PRE-CONSTRUCTION CONDOS?
In the real estate market, as with any marketplace, knowing the meaning of industry terminology can make all the difference in your decision to buy or sell, and whom you work with in the transaction.