Welcome,
Have you ever thought of owning a condo through a Rent to Own program. Well, Daniels Corporation have decided to build a condo in Toronto that fits that bill and its called NY PLACE. Its located on Bayview and Sheppard and its already under construction.
The Rent to Own program is another option for buyers to purchase either a freehold or condo property. Make sure you due your research prior to investing into this program.
Some of the criteria in which you will need to complete a transaction like this includes:
1) Sign a contractual agreement with the Landlord
2) Provide a deposit (varied amount depends on the contract terms)
3) Purchase the house within the contractual period (time frame)
4) Qualify for the mortgage
*Note if you may default on the contract. The deposit and any extra money going towards the payments may/may not be refundable. The contracts are written in favor of the Landlord.
Sincerely,
MyDaddyHomes follow me on Twitter and Facebook
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