During this window, you can typically back out of the deal and get your full deposit back without penalty. 5. Financing and Pre-Approval
There are two "move-in" dates to understand, particularly with condos: how to buy pre construction homes
Before looking at floor plans, look at the builder. Your investment is only as good as the company behind it. During this window, you can typically back out
You might pay 5% at signing, 5% at 30 days, 5% at 90 days, and a final 5% at the "occupancy" stage. Your investment is only as good as the company behind it
Unlike a resale home where you pay a 5% deposit upfront, pre-construction usually requires a "staged" deposit structure.
Ensure they are registered with mandatory provincial or state home warranty programs (like Tarion in Ontario) which protect your deposit and cover structural defects. 2. Understand the "Platinum" Access Phase