Buying a new condo in Ontario is quite a bit different than purchasing a resale unit. Since new condo units are sold by the developer, usually before construction has been completed – or even started – there’s a set of specific items you have to verify or determine beforehand. The Ontario frameworks governing new condominium sales – the Condominium Act, the Condominium Management Services Act, and Tarion (formerly known as the Ontario New Home Warranties Plan) – all have varying levels of responsibilities and remedies for new buyers. These will outline who is responsible for what, and it’s important that you familiarize yourself with these pieces of legislation to fully understand your rights and responsibilities. Read the article……………..
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