Pre-Construction Projects for Global Investors

In Ontario, buyers of new pre-construction condos or homes are entitled to a 10-day cooling-off period after signing the Agreement of Purchase and Sale. Use this time to review the contract with a real estate lawyer, confirm financing, and ensure the deal fits your goals. You can cancel within this period without penalty.

Selling your unit before final closing is called an assignment sale. Many pre-construction real estate projects allow assignments, but terms vary by builder. You'll typically need the developer's consent and may be responsible for assignment fees and legal costs. We'll help you navigate the process, review the builder's assignment policy, and connect you with trusted legal and listing support if you choose to sell before occupancy.

In addition to your phased deposit, buyers should budget for builder closing costs like development charges, utility connection fees, education levies, Tarion warranty enrollment, and more. These fees are outlined in the pre-construction purchase agreement. Our team will help you review all cost estimates before you sign to ensure there are no surprises later.

Buyers of a pre-construction investment property may be subject to HST (Harmonized Sales Tax). End-users often receive an HST rebate automatically, but investors may need to apply for the rebate separately after occupancy. Additionally, land transfer tax applies upon closing and may include both provincial and municipal portions depending on the property's location. We'll walk you through all tax implications based on your buyer profile.

Yes, most pre-construction condos allow assignments before occupancy, though it depends on the specific real estate project. Assignment can be a profitable exit strategy for investors, especially in rising markets. Some builders offer free assignments, while others charge a fee or have restrictions. We'll clarify your assignment rights before you buy and guide you through the paperwork if you decide to assign later.