Further to my last post.....
when you purchase a new condo there is a mandated 10 day cooling period. This allows the buyer 10 days from purchase to reflect on their purchase and have the ability to cancel the purchase without penalty. This is to protect the buyer as in most condo purchasing cases there is high pressure and decisions need to be made quickly. This allows the buyer to act on any buyer's remorse he/she may feel.
As mentioned when I arrived at my appointment time to purhcase a one bedroom condo at Well Street Lofts in Aurora (across from Town Park) they were already sold out.
However I was first to have my name on the wait list in case anyone cancelled during the cooling period. With one hour to go, the purchaser for the exact one bedroom unit I wanted cancelled and I was contacted and purchased the unit. So very excited.
It is a lovely building and is scheduled to be completed in November 2014.
The Real Estate Ladies
Century 21 St. Andrew's Realty Inc.