Wednesday, 24 April 2013

Update: when is closing - not closing

I realised a little while ago that I wrote about closing and how excited I am sure we all are.

I should point out that we do not actually "close" on the date you have. (Mine is August 8th for example)

This is the "interim closing" date meaning the builder stills owns the condo and we will pay a fee to live there until the entire building can be registered.

In order to be registered I believe the building has to be mainly occupied (about 75-80%) and has to have the government inspectors review finished along with any deficiencies (if any) that were discovered during that inspection.

Joe and Jeff anticipate this will only take a few months so will not be  along and arduous process but it has to be followed. For example since I move in August I am hoping the interim period will only be a month or two since almost everyone will be in by then as I am on the top floor. Of course, this is just my personal view and not the builder.

This link helps explain the process better than I can:

I just thought I would highlight this as we start to draw near to avoid any disappointment or confusion.

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