Unlike a resale purchase, where adjustments typically consist of property taxes and current expenses, new construction contracts include adaptations for a large number of items that very often surprise buyers at the cost they can cost. A non-exhaustive list of these accommodations may be as follows: the Court of Appeal has agreed that the endorsement should impose a framework for the extension of the time limit and that the parties have not complied. However, the court was not satisfied that this was fatal to the agreement reached. The court found that the addition did not render any non-compliant amendments unenforceable. In fact, see 4 (a) of the addendum, it was found that « any change is not consistent with this section is non-adacuitable for the cancellation option. » As a result, the purchaser was given the opportunity to cancel the agreed deadline for April 11, but did not do so. The Tribunal found that the addendum was confused and confused, but that counsel for the parties should have been familiar with the terms. Since the buyer`s lawyer did not advise the buyer to impose the 90-day extension, he could not attempt to impose it retroactively. Unlike the standard OREA form used in resale contracts, new construction contracts for purchase and sale are much more descriptive and unique to the developer. In addition to the GSP, a TARION addition is added to the agreement, containing a statement on critical data, conditions, rights and obligations, occupancy and termination clauses, early termination conditions and a list of all final adjustments that the Seller wishes to charge.

It is important that your lawyer have the GSP, the TARION addendum and all condominiums checked, if necessary, either before signing or within the GSP withdrawal period. Most new construction contracts allow buyers to spend 10 days for their lawyer to verify the agreement and all related documents, but know that some GSPs also extend this period to three (3) or five (5) days. There are a number of clauses and conditions in a new construction contract that can be removed, capped or simply negotiated to meet your needs. In addition, many buyers are unaware of the constraints that some new constructions limit to buyers when it comes to the use of the house after closure, such as fence height limits, the use of satellite dishes, exterior renovations and aesthetics.