True or false?

[zarmas01]

Ontario has a new recent ruling regarding New Build home where cannot flip the property right after closing?
If true can someone please elaborate on the amount of time the property needs be held before one can sell it?

 

[DonCampbell]

Once you own it, it is yours. However within some of the new-build contracts there are some 'restrictions' that some of the builders like to try to enforce on the buyers.

Each building has different rules - read the contract carefully before signing... and even more importantly get your real estate experienced lawyer read it and give you their comments.



D

 

[Thomas Beyer]

Ontario also has land & city transfer taxes.to discourage such behavior.

What is the exact wording in the contract ? Details matter !