Purchasing a condominium in or before the construction phase is of great benefit to purchases. Choices in finishings, greater appreciation value, lower pricing than finished product and the choice of the superior locations in the development, are often some of the advantages new construction buyers benefit from. In Alberta when purchasing new condos, buyers are extremely well protected. It is law, that all new home buyers receive a 10 day rescission period that allows purchasers to review all of the condominium documentation at their leisure. Purchasers may for any reason and without explanation in those 10 days rescind their offer and receive their deposit back. This allows a buyer to go forth with an offer to ensure they do not lose the unit of their choice to another buyer, at the same time ensuring clients have adequate time to read the necessary documentation, so that they may make an informed purchasing decision.
(Jessica Stoner of RE/MAX Alpine Realty is a licensed agent in Alberta and represents clients purchasing new home/condo construction in Canmore)
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