The Condominium Authority of Ontario is pleased to announce the release of the newly updated CAO Condo Buyers’ Guide, a comprehensive and accessible resource for anyone thinking about buying a residential condo in Ontario.
The guide has undergone a review through consultations and user testing with condo community members to ensure that it reflects the evolving needs of Ontario’s condo sector. The newly updated guide is designed to educate prospective buyers about their rights, responsibilities, and duties when it comes to condo living.
“The updated Condo Buyers’ Guide is a critical tool for consumer protection and education,” said Robin Dafoe, CAO CEO and Registrar. “By providing clear and relevant information, we’re helping Ontarians make informed purchase decisions and supporting them in becoming active and knowledgeable members of their condo communities.”
Some key topics include:
The differences between buying re-sale vs pre-construction condos
Recommending all pre-construction buyers review important documents and re-sale buyers review status certificates before purchasing
Making the most out of collaborative and harmonious condo living
Governance, management, and financial operations of condo corporations
Common issues and how to resolve them
Developers are legally required to provide this guide to purchasers of pre-construction condos along with their agreement of purchase and sale. Receipt of the guide and other important documents marks the beginning of the mandatory 10-day cooling-off period, during which buyers may rescind their agreement.
The CAO will continue to review the Guide and consult with Ontario’s condo community to ensure the Buyers’ Guide continues to remain relevant and impactful.
The updated guide is now available on the CAO website in English and French.
