Big thumbs up, so great to hear new thoughts and ideas. Last year had a new build 5 bed condo and went through all the occupancy, assignment fees, builder issues. And 30 day warranty of work done by the 21 different trades brought in.
Hi Amin.Great content,am a new real estate investor in Scarborough,wants to venture into rental properties and Brrrr strategies. How do I start and your advices.
Yes it's called Interim Occupancy. Once your unit and floor are completed and it's deemed safe for you to occupy, you get the keys and can move in. When you "close" on a unit, that means you can now register it in your name and your financing kicks in.
Big thumbs up, so great to hear new thoughts and ideas.
Last year had a new build 5 bed condo and went through all the occupancy, assignment fees, builder issues. And 30 day warranty of work done by the 21 different trades brought in.
Hi Amin.Great content,am a new real estate investor in Scarborough,wants to venture into rental properties and Brrrr strategies. How do I start and your advices.
So the occupancy starts before the completion of the building?? Completion probably means the final furnishing of the units
Yes it's called Interim Occupancy. Once your unit and floor are completed and it's deemed safe for you to occupy, you get the keys and can move in. When you "close" on a unit, that means you can now register it in your name and your financing kicks in.
@@AminDhillon The buyer then must be paying an interim occupancy fee..
Thanks for sharing
Yes they will. This is why it's so important to know when you will need to start paying this fee to the builder.
@@AminDhillon Sure