The event will be held February 23^rd, 2012 from 6:30pm to 8:00pm at the Spirale Banquet & Convention Centre located at 888 Don Mills Road, just north of Eglinton Avenue West in Toronto.

This event is available exclusively to RE/MAX Hallmark Clients! Whether you are buying or selling, starting your career or retiring, saving, investing, or simply trying to learn more about our economy and how it impacts your personal finance, this is an excellent opportunity to get an inside perspective.

Please note that space is limited! If you would like to attend please contact me

Jarrod

RE/MAX Hallmark

Office: (416)-494-7653 
Fax: (416)-494-0016  
Email: Jararmstrong@trebnet.com

Looking to buy or sell a house or condo? Check out our site www.SearchLocalCondos.com

www.JarrodArmstrong.com

Top 1% agents for Toronto Condo Sales * Multi Award Winning Service

Client Invite Flyer

Topics Covered in the Guide:

1 – Condominium Ownership.
What Is a Condominium? .
What Types of Condominiums Are There? .
What Do I Own When I Buy a Condominium? .
Are Condominium Regulations the Same Across Canada?.
What Rules and Restrictions Might I Encounter in a Condominium?.
Who Takes Care of the Building and Grounds?.
What Insurance Will I Need?.
Can I Rent My Condominium?.
2 – What Type of Condominium is Right for Me?.
New, Re-sale or Conversion—What Are the Differences?.
New Condominiums .
Conversion Condominiums.
Existing/Re-sale Condominiums.
Affordability—How Much Will it Cost? .
Condominium Contributions—What’s Included in My Fees?.
Extraordinary Expenses.
Questions to Ask in Choosing a Condominium.
3 – Getting Help from the Experts.
Who Should I Consult about Buying a Condominium?.
How do I Know if a Condominium is in Good Financial Condition?.
How do I Know if a Condominium is in Good Physical Condition?.
Physical Checklist.
What Information Does the Condominium Corporation Have that Could Help Me? 

Let us help you find that great Toronto!  Click here to view condos currently for sale within the GTA.  

If you have an interest in Renting, Buying or Selling in the Toronto area and would like to discuss the current market, please fill out this contact form.

2181 Yonge Street – Minto South Tower
Urban Living above Yonge and Eglinton: The verdict is out on this newly constructed building. People love the Minto South tower. 2181 Yonge …

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2191 Yonge Street – Minto North Tower 2191 Yonge Street – the north tower of Minto’s Quantum is the tallest condo building within the Yonge and Eglinton area standing 54 floors high with 538 units…. Read More >>

]]> http://2191yongestreetcondos.com/2011/11/10/2181-yonge-st-condos-2191-yonge-st-condos/feed/ 0 Jarrod 2181 Yonge Street Condos - Minto Condos 2191 Yonge Street - Minto Yonge and Eglinton Condos http://2191yongestreetcondos.com/2011/04/27/know-what-to-look-for-in-a-condo/ http://2191yongestreetcondos.com/2011/04/27/know-what-to-look-for-in-a-condo/#comments Wed, 27 Apr 2011 00:27:31 +0000 Jarrod http://2191yongestreetcondos.com/?p=357 ]]> (as it appears each Friday in the Toronto Sun) 

April 22, 2011 — Condominium transactions (sales of condo apartments and condo townhouses combined) comprise approximately one in every three resale home transactions in the Greater Toronto Area compared to 25 years ago when condominiums comprised 25 per cent of the market.

There are many advantages to condo living including energy efficiency, proximity to amenities and maintenance free living. There is also a wider selection of condominium housing structures than ever before.

Regardless of the structure all condominium owners hold title to their units and share ownership and responsibility of and for the operating costs of the common elements that comprise the balance of the property.

Maintenance fees, which are paid in addition to your mortgage and property taxes, are directly related to the size of each condominium apartment unit.

While the maintenance fees may include the cost of heat, hydro, building insurance and upkeep of common areas, it is important to understand specifically what is covered in the maintenance fees.

Ask your REALTOR® for help in understanding what your fees will include in the particular condominium you’re interested in buying.

Condominium townhouses may also involve maintenance fees. In this case, fees are related to common areas outside of the structure like Snow removal and lawn care.

There are a number of details involved in a condominium purchase that are unique to this housing type. As such, it’s wise to work with a REALTOR®, regardless of whether you are buying a new or resale unit.

When buying a new condo unit, buyers should request a disclosure statement. It includes a description of the project’s most important features, bylaws that govern the corporation, rules that regulate owners’ living environments and the condominium corporation’s budget for the first year after registration.

When buying a resale condo, buyers should also request a status certificate, which offers similar information and confirms that the owner is current with common expenses. It’s important to speak with your REALTOR® and discuss which conditions are best suited for your offer.

The move-in date for a new condominium is referred to as an occupancy closing, which takes place until the condominium corporation is registered. Again, ask your REALTOR® to help you understand exactly what is and can be expected at closing.

A condominium Board of Directors, consisting of at least three Directors, is responsible for ensuring monies are held in trust, funds are properly invested and records are kept.

Owners meanwhile are responsible for ensuring their units are in good repair and must seek approval for structural changes within them.

To be sure that you are clear as to your responsibilities as a condominium buyer, be sure to talk to a Greater Toronto REALTOR® who can help you find a condominium ideally suited to your lifestyle. For more information visit www.TorontoRealEstateBoard.com

Bill Johnston is President of the Toronto Real Estate Board, a professional association that represents 31,000 REALTORS® in the Greater Toronto Area.

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Allure Condos Yonge and Eglinton

Allure Condos is an exciting new project coming to the Yonge and Eglinton/Davisville area!  Set along Yonge Street at Glebe Road, these condos by Greenpark Homes are set to add a beautiful architectural link to the community in an already happening neighbourhood.

Featuring private street entrance, 24 hr concierge, dramatic spa lounge, rooftop sky deck, and convenient Yonge Street shops nearby, there is no better place to purchase pre-construction! Choose from one bedroom, one bedroom + den, two bedroom and two bedroom + den suites from the $300’s with 9′ & 10′ ceilings.

Allure Condos at Yonge and Eglinton are still in the Pre-construction phase and we are waiting for further details from the developer in regarding to floor plans and exact pricing.

Contact us today to be a part of this great condo opportunity in a vibrant area of the city. By registering with us, you get access to special pricing discounts and front of the line access! The last new development at Yonge and Eglinton sold out in 2 days!!!…don’t miss out on these!

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Madison Condos Yonge Eglinton

We’re still waiting for details to be released to us.  I will give you a heads up once the developer informs us in the coming weeks. We are still projecting costs to be roughly $560 to $580 per sq ft. 

• Created by Madison Homes working with the industries best architects, Kirkor Architects and top designers Munge Leung.
• Comprised of approximately 640 suites in two hi-rise towers that sit on an 8 storey podium, with more than 28,000 sq. ft. of indoor and outdoor amenity space, along with more than 60,000 sq. ft. of prime storefront retail.
• With over 60 distinct suite designs, ranging from approximately 400 sq. ft. to just over 1000 sq. ft.  Suite layouts include a selection of bachelor, one bedroom, one bedroom-plus-den, two bedroom and two bedroom-plus-den configurations all designed to offer practical, efficient living layouts. Priced from the mid $200’s.
• 9 foot ceilings are standard throughout and will create a sense of airiness and space inside the suites, most will boast terraces or balconies, offering residents a sweeping panorama of the city.
• Designed to be both modern and sleek, yet functional. The kitchens will feature designer series cabinetry, upgraded hardware, equipped with under-cabinet lighting, granite countertops, stainless steel undermount sinks, glazed ceramic backsplashes, island or breakfast bar and stainless steel appliances.
• The bathrooms boast custom designed cabinets, with mirrored medicine cabinets, Ceaser Stone countertops and contemporary frameless glass showers.
• The Madison’s amenity program is highlighted by the deluxe fourth floor indoor/outdoor common element. At an inspiring 28,000 sq. ft., the amenity area will include an indoor salt water lap pool, hot tub and co-ed sauna and steam rooms off the pool deck. The fully equipped two level gym and yoga facility will offer an outdoor terrace and views of the neighbourhood below
• The fourth floor also offers an incredible outdoor space featuring a central fire pit, five individual barbecue areas, with cabanas and easy access from the indoor party room, demonstration kitchen and pool; the Zen-style retreat (with water feature) atop the eighth floor podium; and The Madison’s movie theatre, demo-kitchen, common dining space and entertainment room.

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Are you ready with your deposits?

Each builder has a different schedule or structure for deposits, but many factors affect the deposit structure. The developer’s bank would be the # 1 factor in deciding a schedule for deposits. The developer needs a mortgage and the bank would demand at least a 15% down payment. This is where your first deposit money will go.

Expect to pay out 15% in 3 to 4 installments over a 6-9 month period after signing the agreement of purchase and sale. At time of occupancy you will pay an additional 5 to 10%. The amount that remains after your 15 to 20% deposit will require a mortgage pre-approval.

The stage of construction at which you buy the condo will also have bearing on your deposit schedule; the earlier you buy a condo the stricter the deposit structure will be. This relates back to the bank the more condos the builder has sold the deposits collected to put towards the mortgage, once the developer has the money from the bank the more flexible the deposit structure will be. WARNING: If you are not a Canadian citizen you will most likely have a significantly higher deposit amount regardless of what stage the condo construction is in.
Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Occupancy fees (phantom rent) are the equivalent to the interest on the outstanding amount of the purchase price. This is standard practice with buying a new condo and should not deter you from your purchase. Some thing to be aware of with phantom rent:

• The higher your unit is the shorter your occupancy period is. A normal occupancy period is 3- 6 months. Ground floor level may be a longer wait.
• Going with a more experienced builder may save you time. Due to experience the builder is more familiar with the occupancy period process and will have lawyers working around the clock to register the building as quickly as possible.
• The builder wants the building registered as quickly as you do. The bank does not make payment to the builder until the building is registered with the Land Registry System and all unit owners mortgages begin. So the builder will try to make the occupancy period a short one.

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Giving up your right to be represented put you in the hands of the sales people that work for the builder and have no obligation to you or your interests. Protect those interests, the developer pays the fee for you to be represented by an exclusive buyers agent, it cost you nothing.

If you are really pressured to fill out the registration form by all means fill it out with your agent’s info, if they do not allow you to do this, well alarm bells should be ringing for you. You may want to think twice about buying from this builder.

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here

Basically a PDI is a walkthrough of your new property prior to closing, with this opportunity you and the builder’s representative can observe and list all pre-existing deficiencies (incomplete, missing or damaged items) of the condominium. This list will act as evidence that these deficiencies were pre-existing and did not occur after you moved in to your condo.

Some things to keep in mind while conducting you PDI

• Be thorough. As you tour your condo look for scratches, marks and damages to walls, ceilings and doors. Run all taps, ensure that hot and cold water work, flush all toilets, pull all handles, open all doors and cabinets. Check all floors are even and that hardwood floors and tiles have no cracks.

• Keep in mind your builder representative will be involved in your requests to the builder/developer ,be friendly and respectful having a good rapport with the representative will be helpful in future dealings. Those being said, don’t let your rep rush you through your inspection. Anything you do not list will most likely not be addressed by builder.

• Remember your APS, an agreement of purchase and sale will list all finishes, features and upgrades you have paid for, ensure that these are all in place.

• Save your Money. Don’t hire a home inspector. Home inspectors are crucial in the purchase of an older home, but this is a new condo and their services would be unhelpful and expensive.

• Bring a friend. For two reasons 1)You may feel more comfortable bringing up concerns to the builder rep and 2)Two sets of eyes are better then one.

• If something is missed there is a 30-day form. If after you take possession you find a deficiency you can go through TARION. Going through TARION is not the easiest route and your time may be better spent getting things done through you builder.

Good luck with your PDI!

Let us help you find that great Toronto Condo! Click here to view condos currently for sale within the GTA. To read more Toronto and surrounding area condo profiles click here