7 Ways Your Realtor can help you buy/sell pre-constuction properties - The Storey Team : Toronto Real Estate

The Storey Team : Toronto Real Estate

7 Ways Your Realtor can help you buy/sell pre-constuction properties

23 July 2016
Tom Storey

1. Access to VIP events - This gives you access before the general public, which gives you a better chance to get the exact floorplan you want, at a lower price.

2. 10 Day Cooling Off Period - Most buying know about this, but many don't know what happens during this time. We go through this process with you, and make sure you don't miss any important steps.

3. The "Right to Assign" - Many buyers may not know that there could be a fee to assign your unit (something that can be waived when you purchase). Assigning your rights to another purchaser before closing involves extra paperwork, but can also help you immediately "cash in" on your investment. Realtors can help you assign your property before closing.

4. Closing Costs - Asking the right questions: If you walk in to a sales office and purchase a property by yourself, you may not actually understand the extra costs involved. Your realtor can explain these costs so you know what to expect on closing (land transfer tax, lawyer fees, development fee, and HST on appliances)

5. HST: If you are buying a pre- construction property as an investment, you will be subject to pay HST on the purchase. We can help you understand how HST will affect your closing costs, and weather or not you are eligible for any HST rebates.

6. Interm Occupancy Costs : Your realtor can explain how these costs works, and how the builder caluclates these cots (based on the portion left after your origionally downpayment)

7. Negotations - we negotiate in your best interest, and we know the right questions to ask to save you money. Many things are negotiable and we can help navigate through the process.