Agreements for new houses and new condominiums can often be very overwhelming. Along with the agreement itself which is quite lengthy, you are provided numerous schedules that need your attention. Here are some things to take into account:

  1. Very often purchasers feel pressured to sign the agreement as soon as possible. This does not mean that you have to be locked in without having a solicitors review of the agreement. Ask that the agreement have a conditional clause incorporated for solicitors review so that you have an opportunity to review the entire agreement with your lawyer even after you have already signed.
  2. Agreements for new houses vs. agreements for new condominiums have important differences that you need to be aware of. One of them being, the 10 day “cooling off” period granted to the purchaser of a condominium where they may rescind the agreement even after signing it. It is important to note that this same safeguard does not apply to new houses.
  3. 3. Planning on making any major changes (e.g. changing the fence or adding a pool) to the property after closing? Many agreements for new houses can restrict any major changes to the property for a specified time period after closing.

Ultimately, the right legal guidance and support is necessary to help ensure a successful and stress free closing.

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