Buying brand new is getting more expensive

Buyers often don’t have the advice of realtors when they are buying from a builder. For this reason, many don’t look closely at the Agreements of Purchase and Sale. Let’s face it – these Agreements have always been one-sided. There are a couple of new things inserted into the standard Agreements recently.

Some builders are levying new charges, such as fees to deposit cheques, fees to connect hydro or other utilities, and open-ended clauses that allow them to pass on additional taxes or development fees to the purchaser. If you spot it, you may be able to negotiate a limit on the amount of extra taxes or levies the builder can pass onto the buyer. Buyers often don’t know which of these fees are ‘standard’, and which are not.