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M1 + M2 + Metropolis + Parkside Condos (Liberty Development) - Real Estate -

Hey guys,

Has anyone received any instructions from their Lender (Mortgage provider)? I know that this happens at the time of registration, but I was just wondering if anyone has any concept of how that whole process is expected to go down.

Thanks.
 
no_joke said:
Hey guys,

Has anyone received any instructions from their Lender (Mortgage provider)? I know that this happens at the time of registration, but I was just wondering if anyone has any concept of how that whole process is expected to go down.

Thanks.
Click to expand...

Hey Nojoke,

it will happen something like this:

1) right now you should have some sort of a rate/approval from a financial institution.
2) you will receive a letter from liberty sometime in the future letting you know that they are ready to close (register the mortgage) only then can you tell your lender of your final closing date so they can have all docs ready for your lawyer.
3) your lawyer will contact you to set a date for the final closing, all you will do this day is set all FINAL fees and signs tons of papers for everything and transfer the funds over to liberty and LIVE HAPPILY EVER AFTER!!

I work for an MTG DEPT for RBC so I see this all happen with in two days sometimes, so again no reason to stress. any other questions, let me know.
 
col. forbin said:
Anyone here think the building may be registered before 2010 is up?
Click to expand...

I'll probably be going with the builder provided TD as they gave me a good rate. The lady there told me that it's very likely that both buildings will register around October or November. Two sales staff on separate occasions have also given similar dates, so hopefully this is what the final deal will be :)

I'm still worried about how much the levies will be... and this I guess we won't know until we close, correct?
 
italjoe said:
...I am already with Enbridge and perhaps I can just switch accounts over instead of paying the huge deposit for the first month.
Click to expand...

Uhhh... Joe? If you don't mind me asking, can you clarify what you mean by "huge deposit"...? Are you referring to just the hydro? Are we expected to pay a big deposit at the start?
 
coldstudios said:
Uhhh... Joe? If you don't mind me asking, can you clarify what you mean by "huge deposit"...? Are you referring to just the hydro? Are we expected to pay a big deposit at the start?
Click to expand...

Hydro deposit will be $100 max depending on if you are a new customer or not.
 
Got my "statement of adjustments" from the lawyer today.

For people who have gone through this already, does your GST rebate offset with GST - Rebate assigned to vendor?
 
Joe Camel(Toe) said:
Got my "statement of adjustments" from the lawyer today.

For people who have gone through this already, does your GST rebate offset with GST - Rebate assigned to vendor?
Click to expand...

Yes mine had that too. That is in the original contract of purchase and sale. It states that we must assign the GST rebate that we would be entitiled to to Liberty.
 
Good morning! Thanks for answering the "huge deposit" concern for the Toronto Hydro as I didn't know how much it would be at first. Yesterday afternoon I completed my PDi and it went smooth. There were a few imperfections but I assume everyone has some dents and/or sctarches here and there. Perhaphs they were rushed into completing the units on time and rushed certain jobs. Here are some tips that can help you.

On the day of your PDI:

-arrive early and go directy yo your unit and look around. (This is what I did, and its ok just let someone know who you are and why your there). This gave me extra time to look around myself and inspect certain things. Write things down or use your iPhone or Blackberry to type things in :)

-TAKE YOUR TIME. Don't let anyone rush you or say "yeah. yeah, just write it down later." Be firm and demand everything YOU WANT written down on paper is down - no matter how long it takes.

-check all door to ensure no paint is left on them, no scraches/dents. Make sure kitchen cabinets closes properly.

-KITCHEN: turn on/off all appliances. Ensure lights are working (I had 2 light bulbs missing) :-(

-LIVING ROOM: gets floors, hardwoord and/or ceramic (ensure grout in properly installed for the tiles). On my backsplash some grout was missing :-(

-BEDROOM(s) and DENS: floors again carpet or hardwood - make sure floors are even, no cracks, no sounds.

ALL DOORS: make sre they open and close nicely, without touching the frames (my bedroom and washroom door both did that).

-PAINT: make sure your unit was painted correctly with no nail markings showing. CHECK YOUR BASEBOARDS also. Mine were all cover in paint from the walls and holes where all the nails go in were exposed (looked nasty) :-(

-WASHROOM: ensure toilets flush, water is working. Check for leaks of water in both. My pedestal had some water leaking from the back :-(

-WINDOWS: ensure they open and close. Screens are in place and secured. No cracked windows or glass.

-Find out where your shut off valves are - usually in the Laundry area. Also indicated you Panel box with all the fueses.

Ok, that's all for now. If I forgot something I will re-post. Have a terrific Thursday everyone :)

Take care, ciao ciao,

Joe
 
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