Knowledge is Empowering Linda Wheeler Nothing is more important than knowledge and if you have stumbled upon this site, you have come to the right place. We believe that knowledge is empowering and no where is it needed more, than when considering getting into the condo market. There are several aspects to purchasing a presale condo specifically, and one of the ?'s that I spend alot of time explaining to our clients is the whole idea of two closing periods. So, I have decided to try and do that for you here. Your interim occupancy date is the target date upon which it is estimated in your agreement of purchase and sale, that your home will be completed to permit occupancy. This date is dependent upon a number of factors, including the achievement of a threshold level of sales to permit the commencement of construction of the condominium building, and the particular location of your suite. You will be kept

up-to-date on the progress of the development, and will be given a revised occupancy date, once it has been established by the builder. Even though you will be moving into your new home on the confirmed possession date, you will not be getting title to it at that time, since the condominium will not be registered. What Is Registration? Registration refers to the formal creation of the Condominium Corporation. The process is initiated when the builder submits plans and paperwork to the requisite governmental authorities, once all of the units and common elements within the project have been substantially completed. The condominium's declaration and description are ultimately registered in the land titles office, following their approval by the requisite governmental authorities. The entire process may take approximately two to five months following your interim occupancy. Hope you get it now and if you have any further ?'s about the ins and outs of presale condo buying, feel free to contact me through simplycondos.com