Who are Platinum VIP Realtors?
- Platinum VIP agents are the first group of Realtors who get the access to the condo building outside of the developer’s own friends and family.
- The Platinum agents generally sell the largest chunk of the building.
- Usually, there are about 20-30 platinum agents in any given project. They have the first access and best prices for their clients.
Why should I work with a Platinum VIP Realtor?
If you are interested in investing in pre-construction condos, it is a good idea to work with a Platinum Realtor. Following are the benefits of working with a Platinum Realtor:
- We can get you the best pricing.
- We will shop around and provide you with the best available deals.
- Since we work closely with the developers, they always have the latest information.
- We come to know about any upcoming projects even before they are out in the market for general public.
- We can help you get special incentives as they have special privileges given to them by the developers.
How can Platinum VIP Realtors save you time and money?
- We have access to the First Release, before VIP Agents, general Realtors and general public
- We compare all the condos available at that time in the market and present a clear and true picture before you.
- We have access to Platinum incentive programs which help you save more money.
- We will always give you an honest opinion on what you should buy and what not.
- We have a network of service providers like mortgage consultants, home inspectors etc that can take care of things on your behalf saving you time and money.
When is the best time to buy pre-construction real estate?
The best time to purchase pre-construction real estate is during the Platinum launch. During this time, the prices are the lowest as sales have just started and there are lots of units available.
What is included in the closing costs?
- Land transfer tax
- Legal fees
- Development charges and educational levy
- Tarion warranty enrolment fee
- Builder adjustment fees
- Bank appraisal fee
- Mortgage broker or application fee
- High ratio mortgage insurance fee
- Prepaid tax reimbursement
- Prepaid condo fee reimbursement
The amounts will vary depending on purchase price.
What is cooling off Period?
Cooling off period is 10 days time period when the buyer has an opportunity to work around the deal. During this 10 day cooling off period, a buyer should arrange for his mortgage pre-approval. He should consult his lawyer to review the agreement. During these 10 days, due to any reason, if the buyer changes his/her mind, they can back out of the contract and have their deposit returned without deduction.
How long should I wait before selling my pre-construction real estate?
It depends on your planning. A short term investor will sell the condo before final closing or immediately after closing. A medium term investor will keep the property for couple of years and will sell it when the returns are higher. A long term investor will keep the property his/her use. They may choose to live in it or rent it out. Such investors will keep the property for considerable time.