Don’t go in alone
With the growth and surplus of pre-construction available in Toronto it can be very overwhelming when narrowing down a development to choose from. Most people understand the benefits of using an agent when buying a re-sale home, however when it comes to pre-construction, many choose to purchase straight from the builder, leaving them with little negotiating power and possibly in for surprises down the road. Using an agent can be helpful in navigating the ins and outs of the pre-construction process in ways that you might not realize. In fact, huge parts of the pre-construction process are open for negotiation, many that you may not think of.
How realtors help
Realtors can help with VIP releases prior to the public, special views or exposures available, and by negotiating the terms of your contract. This may be more important than a regular deal as builders can stipulate many terms that can be unfair to the buyer including additional costs that can arise throughout the occupancy period prior to your closing. Often times, purchasers will walk into a model home and not understand many of their rights. In pre-construction, the buyer has a 10-day cool off period after signing the deal to allow their lawyer to look over the agreement. This is extremely important to do as builder contracts are drawn up by the builder’s team and have their interest primarily in mind.
