Once I take occupancy on my new Toronto Condo, can I rent it out or even sell it?
No, under occupancy the Condo Builder still owns the unit and most often there is a phantom rent paid to the builder to cover, heat, water, all the common expenses associated with running the Condominium corporation until registration.
The Condo builders forbid the renting or selling a new Condo unit and they do check new Toronto MLS listings to make sure units in their unregistered building are not showing up there.
We see some of the units listed on the Toronto Mls but usually in less than 24 hours the listing are terminated by the purchaser, as a result of very strong warnings from the builder.
Wether you are looking to buy or sell Toronto Downtown Condos you will need an experienced and knowledgeable Toronto Real Estate Agent to guide you through all what the Downtown Condominium market has to offer.
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