Upcoming Changes To The Sale Of Pre-construction Residential Condominium Units - Real Estate and Construction
Declarants will be required to provide purchasers of pre-construction residential condominium units with the new Condo Guide, developed by the Condominium Authority of Ontario and the Ministry of Government and Consumer Services. The Condo Guide becomes part of the disclosure statement package. The Purchasers' 10-day rescission period begins only after the developer has provided both the disclosure statement AND the Condo Guide. The requirement applies to all new sales of pre-construction condominium units on or after January 1, 2021, regardless of whether the project launched prior to tha...
Source: mondaq.com