New Condo Regulations

The regulations have changed! What was once confusing has now become a little more so. But not for the worse. Simply put, the new regulations give the buyers more protection in transactions involving condominiums. They allow for a longer "cooling off" period which gives the buyer more time to consider the purchase and allows for reconsidering if something should change in the conditions of the sale within that longer period by restarting the cooling off period if there is something deemed to be a material change. If both parties do not agree that the change is material then the matter may be brought before an arbitrator, where an impartial third party will determine the claim's validity. Still have questions? Stay tuned! More details to come! Can't wait? Give me a call and I'd be happy to offer any knowledge I have!

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Tracey Anderson

Tracey Anderson

CENTURY 21 Bachman & Associates
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