condo wannabe
New Member
Hi dreamtowerbliss,
I'll be on the 11th floor, and I made the purchase during the summer of 2013. I actually just got the cost summary from my lawyer.
On it, I notice a "pro-rata-occupancy amount". Not sure exactly what that is, but a quick google search tells me it's the fee I'm paying for the "privilege" of early occupancy (at least it is if my understanding of the legalese is correct). If that is indeed what it is, then it bugs the hell out of me that I have to pay a fee for something that I didn't even have a choice to opt out of.
For those interested, the portion of the occupancy payments that's based on the remaining balance of your purchase, that portion is based on a 3.14% of the remaining balance. The property tax portion is based on 1.25% of the sale price.
Anyone else getting ding on this? I think i'm in the same situation. I'm looking at the %5 closing amount, it is more than the amount in the agreement. I asked my lawyer and she said that included occupancy fee. I'm waiting for clarification from my lawyer. If it is the pro rated occupancy amount then that is not right. When I bought tower 2, tentative occupancy was June 2014. August is not early occupancy. Anyone know how to get out of this? Would love to hear any success/non success stories.
And welcome nieghbours!!!