Tarion 11 pages delayed closing printable form 2025

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The Firm Occupancy Date The date that you and your builder agreed your inium unit will be ready for you to move in. If this date is not met, your builder must set a Delayed Occupancy Date and you are entitled to delayed occupancy compensation.
Final Tentative Occupancy Date Occupancy dates progress from tentative, to final tentative and then to firm. Your Final Tentative Occupancy Date is established once the roof is completed for your community.
Delayed occupancy compensation up to a maximum of $7,500 is payable: If occupancy occurs on a date after the Firm Occupancy Date; or. If you exercised your right to terminate the purchase agreement due to delay as permitted by the Addendum (e.g., as per the Purchasers Termination Period).
Purchasing a pre-construction condo is an exciting investment, but it comes with its own set of challenges, one of which is delayed occupancy. Delayed occupancy occurs when a buyer does not receive their unit by the initial occupancy date outlined in the purchase agreement.
Delayed closing compensation for living expenses (meals and accommodation) is payable based on a fixed amount of $150 a day for each day of delay until the Delayed Closing Date or the date that the purchase agreement is terminated.
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