Hi Cd's,
I am going to buy my first home in Canada and I need your valuable advice/Guidance. I am novice to the real estate market and don't know where to start with the process. we have zeroed on new town home construction property and put an offer with the builder by paying $2000.We have a cooling of period for 10days if something doesn't work for us in terms of Mortgage approval or some other reason if we don't want to buy this property. The property is located in Pickering on Brock road and the builder is Averton.

So I need your help in order to execute this process...I would like to know what information and services I need to take care of while executing this.
As this is new construction the builder set February 2018 as occupation date. I don't have any real estate agent to work with as this is new construction.

Also they gave the documents to review in these 10days with the help of Lawyer...what to expect from the lawyer and how much he usually charges?

Appreciate all your responses in advance.

Thanks
Sathish

I found one of their websites and I did not see any promotions there yet. Did you get any good Offers at their Sales Office? If not, then, pull out your $2000 immediately and wait for a good PROMO.

The closing date is way too far into the future and you can expect a few delays even before you sign on the dotted line.

A lawyer will tell you if the Document favours the Builder or the Buyer. He will also tell you which way it is tilted towards.

Some cut the prices down by 20-30K. Some will provide UPGRADES by the same amount. Then comes the other frills and thrills that they will provide in addition to the NEW Appliances etc.,

You can pick a few of the promotional materials put out by the other sales offices by the Street Corner and get an idea where it is that the other SALES are what their pitch is and how close they are to your work place. etc.,

This is just a sample.

Good Luck in your New Homes Hunt.

FH.

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Originally posted by sathishbaburaj

Hi Cd's,
I am going to buy my first home in Canada and I need your valuable advice/Guidance. I am novice to the real estate market and don't know where to start with the process. we have zeroed on new town home construction property and put an offer with the builder by paying $2000.We have a cooling of period for 10days if something doesn't work for us in terms of Mortgage approval or some other reason if we don't want to buy this property. The property is located in Pickering on Brock road and the builder is Averton.

So I need your help in order to execute this process...I would like to know what information and services I need to take care of while executing this.
As this is new construction the builder set February 2018 as occupation date. I don't have any real estate agent to work with as this is new construction.

Also they gave the documents to review in these 10days with the help of Lawyer...what to expect from the lawyer and how much he usually charges?

Appreciate all your responses in advance.

Thanks
Sathish

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First and foremost as FH has already mentioned hire a GOOD LAWYER asap . If you need a reference PM me ( FH-A lawyer will tell you if the Document favours the Builder or the Buyer. He will also tell you which way it is tilted towards)

Your location is good. If you bail out I am sure there may be line a up of potential buyers who will be willing to pay even more.

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Growing Old Is Mandatory ..Growing UP is Optional

if you feel that you got a good deal than no regrets and do not move backwards...

The way real estate market is going on these days, Builder do not give a shit and even do not offer any special deals because builder knows that anyway if is good location and price is as per the current market than definitely he is going to sell the house without any hesitation...

For most important is location.....location....location...and location only...

if you are buying a brand new house from the Builder than even before you move in the house in 2018 your house value will be more than current market value and you will get some appreciation too...

Again if house market bubble burst than no one will escape whoever bought a brand new house from the builder.

Note # I am telling above statement based on my own recent experience with builder.

all the best for your decision....

My friend you have to do a lot of DUE DILIGENCE and when you do, you will find that the $2000 bucks you put out to reserve a dibs into one such house needs to be pulled back, just like what I thought you should do. You will know why when you look at all of the other available properties and upcoming ones in and near Brock Road near Pickering.

Also look into the Radiation scare that I used to watch 10 years ago. I hope it has settled down too. If at all you can go FAR AWAY from these POWER Plants that they are building, please do so. This is just a word of caution to you.

DON'T BELIEVE ANY OF THE SCARE TACTICS THAT A FEW PEOPLE HAVE INTRODUCED IN HERE. You can always buy a very Nice home for a very nice price and in a very nice location where you will find all of the necessities in life.

New home builders in and near Pickering.. :

http://www.homefinder.ca/new_houses/3720-pickering-main-street-seaton

.newinhomes.com/ontario/ajawwwx-development-2781/features.html

http://mattamyhomes.com/gta/communities/pickering-seaton-taunton.aspx

http://lebovichomes.com/quality-features/

Please do go through these promotions close by. Also look for other builders and there are at least 20 more there. You have an year or more to decide, so no need to worry about losing time or sleep or any good opportunities. Take your own sweet time in your choice and location. Also drag in the better half to see them. It is a MUST.

Good Luck.

FH.

By the by the homes you are looking at, cost about $361/sq.ft according to their own website. This is just for your info.

EDIT.: https://www.buzzbuzzhome.com/ca/main-street-seaton

Thank you all for your suggestions, it's very informative. I will post my experience here as the process goes on.