Condominium Documents - AREA Monthly eNewsletter - March 2018
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In the past year, AREA’s Advocacy team has secured some big wins for REALTORS® and consumers on the Condominium Property Amendment Act. AREA strongly advocated for better consumer protection on new condo purchases and the government responded. Now:
• If builders miss their occupancy deadlines, buyers can rescind their offers and receive their full deposit.
• Deposits must be held in trust with a lawyer.
• Buyers have recourse if there is a material change to their unit.
Condo Documents
AREA us actively involved in PHASE II of the Condominium Property Amendment Act consultations, where our key position is:
Condominium owners should have a right to documents pertaining to their property, without paying additional fees.
Condos provide an important and economical…
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