From signing to keys: the pre-construction timeline explained
Pre-construction is a long road. Knowing the stages helps you plan your money and your move.
1. Signing and deposits
You sign the agreement and pay the first deposit. Condo buyers have a 10-day cooling-off period; use it for a lawyer's review. Further deposits follow the schedule.
2. Approvals and sales
The builder completes approvals and sells enough units to secure construction financing. Early termination conditions in your agreement set deadlines for this stage.
3. Construction
Excavation, structure, then finishing. You visit the décor centre to choose finishes. The builder may move the tentative closing date within the rules of the Statement of Critical Dates.
4. Pre-delivery inspection (PDI)
A walk-through before possession. Record every issue. See the PDI guide.
5. Occupancy or closing
- Freehold: you close, your mortgage funds and you get the keys.
- Condo: you move in on interim occupancy and pay a monthly occupancy fee until the building is registered.
6. Final closing (condos)
After registration, title transfers, your mortgage funds and land transfer tax is paid.
7. Warranty
File the Tarion 30-day and year-end forms on time.
Book a call and Dinesh will map the timeline for a specific project.
What does this mean for you?
Book a free 15-minute call and Dinesh will walk you through how it affects your plans.
