Oakville Beaver, 21 Oct 1994, p. 35

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7 n the past, the time lapse between . moving in and becoming the legal BA owner of a condominium unit left new condo owners in legal limbo withâ€" out many of the warranty rights enjoyed by new homeowners. A major difference between a house and a condominium purchase is that when you buy a house, you become the legal owner the day you move in. Not so with condo buyers. A condo buyer does not become the legal owner until the condominium corporation has been registered with the Ministry of Consumer and Commercial Relations. This process can take up to three years after occupancy. Years ago, the delay in legal ownerâ€" ship caused condo buyers to be without some warranty protection offered by the Ontario New Home Warranty Program (ONHWP). A condo buyer for example, who was prevented from moving in on the promised date had no legal right to expect any notice of delay or financial compensation for alternative living arrangements. ONHWP changed this inequity between condominium and home buyâ€" ers by implementing protection against delayed occupancy for condo buyers who signed Agreements of Purchase and Sale after April 1, 1991. With this n acquaintance recently took ‘ early retirement from his job as , vice president of marketing for a large retailer. Prior to retirement he and his wife made a handsome "second income" by purchasing single family rental houses. He said he was seriously considering getting his real estate license and selling property on a partâ€" time basis. One of his major concerns is that he felt at the age of 59 he may be perceived as "too old." I assured him you are never "too old" to sell real estate. The real estate industry is virtually free of any discrimination due to age, sex, race, and Delayed closing and occupancy Real estate careers * All Brick Construction * Stone front accents new protection, a confirmed occupancy date or a tentative occupancy date that is clearly identified as tentative had to be included in every Agreement of Purchase and Sale. If the Agreement only mentions a tentative date, it must disclose when the purchaser will be informed of the confirmed date when a specific stage of construction is reached such as the foundation being completed. The buyer must receive this notice, as outlined in the Agreement, no later than 120 days before the confirmed date and no later than 30 days after the roof assembly is complete. . If you don‘t become a success in real estate sales, you have only yourself to blame. One of my favorite examples is a 72â€" year old Guelph, Ontario realtor who outsells most of his younger colleagues. He was a disastrous retiree and couldn‘t tolerate doing nothing. When he‘s not selling he‘s, as he puts it, "farming for listings!" y other traditional barriers. If a builder fails to give notice of the confirmed date 90 days before the tentative date in the original agreeâ€" However, real estate sales is not a good field for partâ€"timers. In my opinion, partâ€"time sales people cannot do a good job for their clients nor can they realize their full potential as sales many luxury features included people. Age is an advantage, not a disadvantage, when selling real estate. When you get your real estate license, try to make realty sales a fullâ€" time second career. ment, then the tentative date automatiâ€" cally becomes the confirmed date. The wording may appear complicatâ€" ed but the meaning has effectively safeguarded the warranty coverage for condo buyers for the last three years. These regulations do not interfere with the builder‘s ability to offer occuâ€" pancy before the confirmed date. If this is the case, the purchaser must consent in writing to the earlier date. Similar to delayed closings for freeâ€" hold houses, the vendor can move the confirmed occupancy date ahead once by up to 120 days. But the purchaser must receive writâ€" ten notice of this change in occupancy date at least 65 days before the conâ€" Several of the most successful and THE BUNGALOWS of STONEGATE in 7TOaterdoson ; Bungalow (noâ€"stair townhomes) from approx. 1,000 sq. ft. WATERDOWN: ALSOlet d Units Bungalows th Lofts Extra Bedroom to 1,800 sq. ft. Country Setting with treed area _« Close to Shopping and Highways Small Complex of just 30 Units Professionally Designed * Landscaped Represented by: Toronto Line: 827â€"6454 from only ®roseland VVAXNL YVUU realty Itd. _ Sales Representative Includes GST respected real estate agents in Burlington and Oakville are retirees into their second careers. And they show no signs of slowing down. Generally their first career has taught them organization, management and patience, three prerequisites for selling real estate. Janice Johnston is President of Adcom Advertising and Design which specializes in new home marketing. Adcom is located at 440 Reynolds St. in Oakville. These days it takes a lot of knowledge and a great deal of skill to be successful. But most of all it takes commitment and hard work. firmed date. The vendor can also have a 15â€"day extension if the purchaser is given 35 days notice. Delays in occupancy that are caused by strikes, fires, civil insurrections, floods or Acts of God are beyond the vendor‘s control and are not_subject to the rules. Ensuring all new home and condoâ€" minium .buyers receive comprehensive warranty coverage is just one of the ways ONHWP continues to fulfill its consumer protection role for all Ontario residents. â€" For information regarding the Ontario.New Home Warranty Program contact any ONHWP regional office or call 1â€"800â€"668â€"0124. Spring Possession Reservations NOW Being Taken on First Come/First Served Basis Directions: Parkside Drive just west of Evans Rd. Includes GST

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