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A condo owner’s rights are more restricted than other homeowners. 

The Purchase and Sale Agreement

Before you sign the purchase and sale agreement, check with your real estate lawyer to know your rights and protect them. 

Get it in writing.  If you have specific needs for how you want your unit completed, set them out in the agreement of purchase and sale.  Never rely on statements made by the salesperson.

The 10-day Cooling-off Period

You may cancel your contract and receive a refund of your deposit with interest within 10 days of the time you receive a copy of the signed purchase and sale agreement or the disclosure statement (whichever comes later).  In some cases, you may have more time to cancel the contract if there has been a material change as defined in the Condominium Act.

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