Emerald City Condos (ELAD Canada) - Real Estate -

probey said:
I think it is a great unit. This unit was one of my target back then but I finally picked Daffodil. I am going to do a "Solaris-style" pros and cons :p

Pros:
1. den is pretty big, can be used as a second bedroom if necessary
2. good storage space in washer/dryer room
3. extra cabinet at sink area (I heard that it is a upgrade for other projects)

Cons:
1. unit is facing south, although will have plenty of sunlight, but also mean that view would be blocked by tower 3
2. common balcony area separated by not so private privacy screens (if you purchase unit 3, there will only be 1, not 2)
3. some area in bedroom closet taken by that "L." thing, can someone tell me what is it?

Just my 2 cents for this unit, hope that helps.
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I have the same question. What is "L" thing and, what is the box next to the "L" thing?
 
Hi Probey,

My question to you is about the closing cost. Did the sales people tell you that it will be about 3%-4% of the purchase price.
Monica one of the sales people told me that there are some fees that the builder will pass on to the buyer such as hydro meter installation fees, water meter fees, development charges fees, and etc. All of these fees plus lawyer, land transfer taxes, and etc will amount to roughly 3-4%. Do you know anything about this or have some information that I need to know since you bought a unit in the same building?

My other question is about HST. Now we both know that only the GST 5% and 2% PST are embedded in the purchase price. Upon closing, do we need to pay the an extra 6% on PST then get a refund? Or, will we get a credit immediately upon closing so we don't have to pay the 6% up front? Have you spoken to your lawyer or anyone else with credibility about this? If you could share and educate me with some information, it would be greatly appreciated. I'm a new home buyer, and I feel overwhelmed with all of this information. Please get back to me as soon as you can. I want to make sure I get all informations needed before the 10 days cooling period over.

I thank you in advance.
 
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Hi Newbuyer,

Is Monica the lady in red hair (I purchased the unit quite a while ago, so I forgot all the names). But it was the red hair lady helping me.

About the closing cost, no one told me anything about it so I don't know the exact amount. But my friend who owns a condo told me that it will be couple thousand dollars which I think should be below 4% of his purchase price (his unit costs him $300k).

But I did have an amendment capping some closing fees. Like the water meter and hydro meter fees mentioned in section 16(a) were capped to $1500, and levies mentioned in section 16(r) was capped to $3500 for single bedroom unit and $4500 for 2 bedrooms unit. I have no idea how high the fees mentioned above will be, but having them capped makes me feel safer.

For HST, I did some research online, according to http://www.kpmg.ca/en/services/tax/tnf/tnfc0920.html, new homes with purchase agreement signed on or before June 18, 2009 will not be affected by the newly imposed HST (see grandfathering rules section). However, agreements signed after that date, transitional rules will be applied and buyers are subjected to the new HST.

I purchased the unit before that date so I think I don't have to pay HST, but I remember the purchase agreement has one section saying that builder has the right to request buyer to pay any additional tax or fee imposed by the government, so I am not 100% sure if I can completely get away from that.

And according to http://www.homesontario.com/_common/images/public/File/HST - KPMG - 7 Questions.pdf, it is RECOMMENDED that builder increase the price to include HST, but it is not a requirement. I don't know if it is the HST causes unit price to go up, but if it is not, you may need to pay the extra HST and then request a rebate. You better confirm with the sales in the showroom.

The above info is what I can find from the internet, it would be greatly appreciated if anyone can confirm this. Thanks.
 
Probey, thanks for the reply. I guess what I really want to know is whether I need to pay the 8% first and then get a refund, or the builder will pay and claim the rebate. If I have to pay first then I don't think I will have the money to pay extra $22k on top of closing fees and etc. It's really ridicilious if I can't buy a home because of this new stupid tax. Is there any way out? :(
I hope I don't have to pay the extra up front, but instead get a rebate right up front.
 
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Chances are the tax is already included in the price, if not, I think you can include the tax in your mortgage.
 
probey said:
Chances are the tax is already included in the price, if not, I think you can include the tax in your mortgage.
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It's unlikely that they already embedded 8% tax extra on top of the GST in the prices. It's because when I see the listing price, it only says GST included. Monica is the one wears glasses. I'm going to call her on Monday.
 
animatrix said:
What do you guys think of the Azalea unit? I was interested in that, but I think most of the them are gone from 20th floor and under.
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again... I'll just try my best here ~ I think I generally agree with probey's comments

the letter 'L' stands for linen closet shelving

the Azalea suite layout is very typical for 1B+D, nothing too spectacular design wise, but a solid reliable floorplan ... the den is certainly a nice size, and I like the fact that sightlines remain open in the suite, once you get past the wall next to the refrigerator the suite opens right up looking through the kitchen (again that 'sense' of space) ... again its a nice wide balcony but unfortunately separated from 1 or 2 neighbours by only a 'privacy screening'
 
probey said:
Hello Solaris, can you also comment on Daffodil pls? Thx!!! :)
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My thoughts on the 735 sq.ft. Daffodil suite:

PROs
  1. ZERO defined hallway space wasting no sq.ft., the entire living area flows as one continous space (assuming the island has no upper cabinetry above it)
  2. living/dining, bedroom, den are all great size typically unseen in condos nowadays, of course this is attributed by the size of the unit (and the price you are paying for it)
  3. as long as you are on or above the 5th floor, the direct west views will be enjoyed for years to come with no blockage of west views

CONs
  1. I myself do not like balconies that are 'recessed' into the building, rather I desire a balcony that 'sticks out' of the principal building footprint such that you can get multi-directional views and the 'free floating' feeling from the balcony ... but I also hear some people fear this 'unprotected' feeling, so it really depends on personal preference
  2. what's with that odd division of space in the laundy + guest closet?? the closet space is next to useless ... make sure you get mirror sliding doors for that wide 4-panel sliding door section ... it will make the space feel even larger
 
Solaris said:
again... I'll just try my best here ~ I think I generally agree with probey's comments

the letter 'L' stands for linen closet shelving

the Azalea suite layout is very typical for 1B+D, nothing too spectacular design wise, but a solid reliable floorplan ... the den is certainly a nice size, and I like the fact that sightlines remain open in the suite, once you get past the wall next to the refrigerator the suite opens right up looking through the kitchen (again that 'sense' of space) ... again its a nice wide balcony but unfortunately separated from 1 or 2 neighbours by only a 'privacy screening'
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how about a little square black box in the bedroom? what is that?
 
newbuyer said:
how about a little square black box in the bedroom? what is that?
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that box with a cross represents the HVAC ducts where your heat and A/C will come through ~ :)
 
probey said:
HVAC means heating, ventilating, and air conditioning, everything you need about the air inside the unit is done by this little box :)
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Hey Probey,

My lawyer just called me, and he said he found a lot of things that he doesn't like in the purchase agreement. I don't know yet what are they, but I guess I will find out when I see him today. Did you get your purchase agreement reviewed by your lawyer? If you did, did he find anything to be acceptable?
 
Newbuyer,

Are you still in the 10 Day cooling period? I'm curious to know what your lawyer found...let us know. Thanks.
 
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