INSIGHTS
Review reserve funds, special assessments, financial records, and the questions condo buyers should discuss before making their purchase decision.
Solar panels can be owned by the seller or connected to a financing, rental, or other contractual arrangement. Before treating them as an included feature, ask for the documents explaining ownership and any ongoing obligations.
A basement apartment or other additional unit may be a major reason for purchasing a property. Its appearance, listing description, or current occupation does not establish that every required approval has been obtained.
A purchase involving tenants requires attention to the existing occupation and the terms of the sale. Ask for leases, rent records, deposits, and relevant notices.
A negotiated closing holdback keeps an agreed amount from being released immediately while a defined issue is addressed. It can arise in different circumstances, but it is not a universal solution for every defect or dispute.
An estate transaction requires attention to who has authority to sell and sign. The title records and supporting estate documents matter alongside the agreement.
Send the accepted agreement, schedules, amendments, and key dates promptly. Explain the intended owners, financing, and any unusual occupation or property arrangement.
A mortgage account balance may not show the total required to obtain a release of the lender’s security on closing. Accrued interest, prepayment charges, discharge expenses, or other contractual items may affect the payout.
The purchase agreement governs any pre-closing access or inspection arrangement. Review the relevant wording rather than assume an unrestricted right to enter the property.
Let’s discuss your next step
Contact Maki Law for practical guidance on your property transaction or construction matter.
416-991-4775 · contact@maki.law
136A Avenue Rd, Toronto, Ontario M5R 2H6
MAKI LAW
Address
136A Avenue Rd
Toronto, Ontario M5R 2H6
Contact
416-991-4775
Fax: 416-981-3420
contact@maki.law
Service Areas
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General information only. Contact our office for advice about your circumstances.