FAQ

Be smart about pre-construction. We’re specialized realtors. We’re advisors. Our expertise is new construction.

How do you purchase something without touching, seeing, or walking through it?

This page will help you to get expert advice on some of your most pressing questions. We’re knowledgeable in the pre-construction market. This is what we do and we do it well.

With so many different options and choices to make, Toronto Pre-Construction communities can be overwhelming and units are selling out rapidly and developers are using swanky sales centers and beautiful sales reps to lure in the clients and to sell them those fancy and luxurious condos they have so perfectly displayed in the brochures. We exposure to truth to help you make an informed decision.

  

Use a specialized realtor.

We specialize in helping buyers navigate through the complicated process of buying new condos and homes.

You will receive the advantage of comparative shopping as well as specialized knowledge of these complex transactions.

We have direct relationship with developers and rarely form an opinion without basing it of statistical data or ‘Inside Market Knowledge’. We will track down the best opportunity for you.  Most importantly, we work for you and not for the builder.

 

The Homework.

We have access to not only MLS but insider development data. This is important for pricing advice so that you can compare both new and resale properties and be better informed on what is a fair price and the right project for you.

We give you a deeper understanding of the different opportunities available by comparing neighbourhoods, communities, builders/developers, features, prices per square foot, incentives, amenities, occupancy date, maintenance costs…with one another and guide you in making a well-balanced decision.

 

 The Choices.

Understanding the demographic profile of any potential new development is probably the most important element when purchasing Toronto Pre-Construction Condo or home as this will go a long way in protecting your investment. For example, understanding what could restrict your views later on and cause traffic issues. We have this information and like to share.

 

Know your creator.

We will make the introduction, so you can get to know them, their track record, quality and reputation.

 

It’s always comes down to dollars and cents.

We help negotiate the agreement in your best interest and help navigate through this process. As price is usually not negotiable, certain incentives are and fees (education, park levies) can be taken out or capped within your agreement

Pre-Construction usually gets sold in phases or waves of pricing. If you purchase in the first phase, you can save anywhere from 5 to 10 percent off the final price. Note, however, that the choicest units are often saved for last, when the prices are the highest.

We can gain you access to VIP events, prior to the general public. This is where the best prices and floor plans available and only to a select number of realtors in Toronto.

 

The process can be just as fun.

By the time a new condo project’s sales centre opens its doors to the public, the building can be as much as 90% sold already. How does this happen? Condo developers in Toronto generally follow a simple staggered marketing formula for selling their buildings and it goes like this:

1) Friends and Family sales event (5-10% of units get sold)

2) Platinum VIP agents get access (30-40% get sold)

3) VIP agents get access (20-30% get sold)

4) All agents get access (10-20% get sold)

5) Pre-registrants get access (5-10% get sold)

6) Grand Opening to the public (last 10-20% gets sold)

With each step along this continuum, selection of units goes down and prices tend to go up (the hotter the project, the more the prices can go up) It might be as much as 6 months between the first friends and family event to the grand opening to the public.

Our group, Platinum VIP agents are the first people to get access to the building outside of the developer’s own friends and family.

The Platinum agents generally sell the largest chunk of the building.

There are usually only about 20-30 platinum agents in any given project. These are generally agents who have sold the most units for the developer in the past at their previous projects. They are rewarded exclusive rights to sell with first access and best prices for their clients.

 

The paperwork and terms, not so much.

We guide you through the important details of your contract and steps during the 10-day statutory cooling off period. Missing these steps can create future problems.

We help negotiate everything from upgrades to a cap on your development closing costs, which can be significantly more than a resale property. This type of transaction has so many nuances and subtleties that it is definitely worthwhile to use a professional like us who will help explain both the builders and purchaser’s rights.

We will review builder’s allowances like their so-called “normal construction variations” from the standard inclusions in everything from materials to ceiling height to the size of the unit/home.

We explain the importance contract details such as of the “Right to Assign” as you as a new buyer may want to assign (sell your rights) your agreement during this lengthy period. There are fess and conditions for this privilege. We can help you find a buyer as certain types of advertising are not permissible by the project builder.

 

We exposure the truth.

We reveal to you all the builders closing costs and help you really understand what it will cost you on both interim occupancy (how to builder calculates these charges) and final closing. We help to coordinate these details with your lawyer. We explain how the HST will affect your closing costs and help determine whether you are eligible for any HST rebates on your purchase. We explain the changing reality of your monthly fees as builders generally underestimate these fees for a variety of reasons.

to get the help of an experienced professional.

 

Interview with the builder.

We know how and which questions to ask and understand how to read building plans. Others don’t know to ask.

  • Commercial space
  • Garbage chute locations
  • Elevators
  • Amenities
  • Low Rise Utilities: fire hydrants, transformer boxes
  • Developer’s future plans
  • Finishing touches
  • Is the developer painting a realistic picture of the budget?
  • Changes to the contract, pricing and plans

 

Let’s save, make some money and have fun.

Take the free advice and take advantage of our expertise. Call us, email, tweet, text or swing by with a question or request info on a project you would like to know more about. It just makes sense for you a pre-construction expert.

(416)FOR-SALE or (416)985-7000 | info@416forsale.com

We’re real people. We understand the human side of this business.