Buying a brand new home is exciting and can have many advantages, including the ability to get a house that’s perfect for you. However, it can also come with its own practical and legal challenges.
Buying newly constructed property comes with many uncertainties. With an existing home, a buyer can look at the home, inspect it physically and examine documentation such as previous surveys done on the property. With new construction, you must make sure that:
- Your builder gets permission to build from the municipality.
- Your builder follows all of the construction codes.
- Your agreement is properly reviewed.
- You include a condition to review.
- You take advantage of the legislated rescission period provided in Ontario for new construction condos to consult a lawyer.
- You know what the timelines are for occupancy
- Any delays in closing are dealt with.
- Occupancy fees are clear, as these are basically rental fees.
Our Markham lawyer for new home purchases can help you with all of these issues and more. We can help you understand all of the extra steps you must take when buying a new house. We can help you if there are unexpected delays in approval, construction or moving in.
If your deal does not go forward as expected because of administrative, financial or construction issues, we can also help you understand your options and find practical solutions to your situation.