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Condo Developers

Prior to “going to market” with a new condominium development, whether residential, commercial, retail, industrial or a combination of these, developers must prepare a complex set of documents, known as the “Disclosure Statement” (per Section 72 of the Condominium Act, 1998). This documentation defines all aspects of the property that prospective condominium owners need to know regarding the proposed condominium corporation prior to making the decision to purchase a unit(s), including what the common element fees will be for the first year, restrictions with respect to pets, parking, exclusive-use common elements, and many more aspects. It is no surprise then that the Condominium Act, 1998 provides a “no-questions-asked” 10-day rescission period allowing buyers to rescind their agreement of purchase and sale.

Robert Buckler has developed components of the Disclosure Statement, such as the first-year budget and has worked closely with the declarant’s lawyers to develop the Agreement of Purchase & Sale (APS), as well as the proposed condominium corporation’s documentation, comprising of the declaration, by-laws, rules and policies & procedures.

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