Posted Jan 12, 2022, 9:32 PM
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Registered User
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Join Date: Jan 2010
Location: Hamilton
Posts: 12,731
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pre-construction buyers aren't going to pay much attention to that anyway from my understanding is they don't need to lock down a mortgage until they close on it once the unit is built. The rate that will matter to buyers is the one that is in place in 2025 when the building is done and the condo is registered.
All the developers get up front is the deposit, which can be as little as a couple thousand dollars and by law has to be cash, as it is part of the required downpayment on the property.
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