You want to sell a condominium unit in Toronto.
The market is competitive; the number of units for sale and days on market keep increasing. This trend will continue.
You not only need a lawyer to verify the details in a STATUS CERTIFICATE but we may also need an accountant to explain what's happening inside your building.
Does the agent you are going to hire understand the structure and amenities of your building. Can they explain what is actually for sale? Can they explain the costs to operate and live in your community.
This is a worthwhile PDF to take in that explains the legal life cycle of a condominium and the turn over process from developer to the owners. .... into Warranty and Management. Then our years of ownership.
http://sites.airdberlis.vuturevx.com/44/259/uploads/lifetime-of-a-condo-final---july-15.pdf
The video is here; Archived Video Conference
http://hosting.epresence.tv/oba/21/Watch/1782.aspx
Event password is ab0715
You are NEVER disappointed when you hire someone who understands the job.
Call me
David Pylyp
647 218 2414
Showing posts with label by the water. Show all posts
Showing posts with label by the water. Show all posts
Friday, July 25, 2014
Monday, May 12, 2014
Condo Reform in Ontario
NDP government wants changes to the Condominium Act to better protect consumers. To recap;
I wrote about this previously in a Condominium Investors forum
https://plus.google.com/+DavidPylypToronto/posts/4RC8EihvpgX
The questions to clarify first are;
We will be creating a QUASI judicial board staffed by WHOM? Judges, Lawyers? Political Appointees? We will need to build Government Offices house all the Hearing Rooms and Dispute Mediation Councillors . DO we need to be licensed and insured to appear in front of these committees?
How will this be paid for? Ahhhhhh ... a small surcharge of $5 - $10 per month, in the beginning and then.... application fees per program applied for.
I agree with Licensing Standards and a complaint process for Condo Boards and the Management Companies that provide onsite management. That is a Small Claims Court function where claims of injustice are heard by Lawyers and Judges.
There is a reference to Building Standards, Tarion and Falling Glass. All these things are governed by the EXISTING Condominium Act, Tarion Warranty and Building Codes that exist in each City. Does this mean that Toronto has poor building codes? I think not. The Ontario government and Tarion already have a relationship. Buildings pay for Performance Audits for Engineers to examine drawings and determine if what was purchased as delivered. Committees of Developers, Builders, Tarion and the COndo Board plus their lawyers MEET in person to discuss Audits and inspections.
Rogue Boards and Transparency; The biggest problem is that Purchasers of condominium suites want to bend the Rules and Regulations to suit their needs after they move in, instead of investigating the BY LAWS with the ir lawyer. prior to purchase.
The BIGGER QUESTION to ask is "Do we want another level of Government [ like the Landlord Tribunal ] to hear dispute resolution matters between condo boards and the owners at the expense of those very same condo owners?"
Whatever is created in haste is difficult to unravel.
- An independent Condo office to hear disputes quickly & cheaply instead forcing condo owners into the courts
- Mandatory licensing of condo managers
- No more "weasel clauses" buried in condo purchase agreements: condo buyers should be able to know exactly what they are buying and how much it will cost, and they should get what they were promised
- Standard plain-English language for condo Declarations and purchase agreement
- No more rogue boards: greater transparency, financial accountability, better governance, education and support for condo boards.
- No more falling glass, leaky windows or paper-thin walls: update Building Code and reform TARION to protect condo residents along with all new home buyers
I wrote about this previously in a Condominium Investors forum
https://plus.google.com/+DavidPylypToronto/posts/4RC8EihvpgX
We will be creating a QUASI judicial board staffed by WHOM? Judges, Lawyers? Political Appointees? We will need to build Government Offices house all the Hearing Rooms and Dispute Mediation Councillors . DO we need to be licensed and insured to appear in front of these committees?
How will this be paid for? Ahhhhhh ... a small surcharge of $5 - $10 per month, in the beginning and then.... application fees per program applied for.
I agree with Licensing Standards and a complaint process for Condo Boards and the Management Companies that provide onsite management. That is a Small Claims Court function where claims of injustice are heard by Lawyers and Judges.
There is a reference to Building Standards, Tarion and Falling Glass. All these things are governed by the EXISTING Condominium Act, Tarion Warranty and Building Codes that exist in each City. Does this mean that Toronto has poor building codes? I think not. The Ontario government and Tarion already have a relationship. Buildings pay for Performance Audits for Engineers to examine drawings and determine if what was purchased as delivered. Committees of Developers, Builders, Tarion and the COndo Board plus their lawyers MEET in person to discuss Audits and inspections.
Rogue Boards and Transparency; The biggest problem is that Purchasers of condominium suites want to bend the Rules and Regulations to suit their needs after they move in, instead of investigating the BY LAWS with the ir lawyer. prior to purchase.
The BIGGER QUESTION to ask is "Do we want another level of Government [ like the Landlord Tribunal ] to hear dispute resolution matters between condo boards and the owners at the expense of those very same condo owners?"
Whatever is created in haste is difficult to unravel.
"Once Done. Cannot be undone.... " Captain Jack Sparrow
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