Buyer Beware! NDP vows condo act reform in Ontario...

If you are thinking of buying pre-construction and directly from a builder, here is a good article to read! It's in your best interest to make sure you have 'buyer representation' with a Realtor and have your lawyer review all documents.

Tom Smeraldo and Emilio Ojeda walked into their new Cabbagetown-area condo, took one look at their “view” (a brick wall), “balcony” (more of a ledge), and “hardwood floor” (actually laminate) and phoned their lawyer.

“We were so disappointed. We just wanted out of the deal,” said Smeraldo.

They couldn’t. Not unless they wanted to lose tens of thousands in deposits. Instead, the couple set out on a three-year battle with the builder over what they say are broken promises and lingering deficiencies.

Theirs is a cautionary tale, one you’ve likely heard before and will hear again as the GTA increasingly becomes a community of condo dwellers. As of December, there were about 264,000 condo units in the region.

Despite the considerable size and affluence associated with the demographic, it’s a vulnerable segment of the population, says NDP MPP Rosario Marchese.

With the Trinity-Spadina representative leading the charge, the NDP has vowed to tackle condominium act reform if elected this fall.

The proposed changes include clearer, “good faith” language in the purchase paperwork, as well as the creation of a judicial board to handle disputes between condo owners, boards and developers.

“Right now there’s nothing quick and nothing cheap about that process at all,” Marchese said. “If a renter has a problem with the owner of that building they’re able to go to renter’s tribunal, pay a $25 fee and defend themselves. If you’ve got a problem as a condo owner, where do you go? A lawyer. That’s the problem.”

This tribunal would be separate from Tarion, which regulates builders of new homes, enforcing construction standards. full story 

Robyn Doolittle Urban Affairs Reporter

How may I help you today? Direct line: 416-219-6662

 

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