I received an email from Pemberton stating that the builder has 5 units left at Bluwater Condos in Oakville with some significant incentives to buy now. Occupancy is scheduled to begin this year. Some buyers for various reasons want to set up their units for rental, assignment or for sale (after registration). The occupancy period is when the buyers do not own the unit, pay a monthly occupancy fee, and have access to live there. Upon registration the buyer will pay the builder the balance of the purchase price and receive title to their condo. Once the buyer has title they may lease or resell in a normal process. The rules for possible assignments and how the unit may be used during the occupancy period are typically part of the original agreement of purchase and sale. Occupancy periods vary between condo developments. Please see my previous blog for pictures of the site as of late July 2014.(https://ashfordterrace.wordpress.com/wp-admin/post.php?post=414&action) If you would like to discuss any of the issues in this blog please contact me.
Cheers…Doug Izon P. Eng. Real Estate Broker, Century21 Dreams 905-599-1265 http://www.IzonHomeTeam.com; Mortgage Broker, Centum Total Mortgage Services Inc. Lic # 10646 http://www.TotalMortgageServices.com