CONDOMINIUM OWNERSHIP Q&A’S
Reserving a Suite with an Early Planning Agreement
You will have the opportunity to reserve your preferred suite with a non-refundable fee. This is done through an “Early Planning Agreement”. This fee will be applied to your purchase at the time of closing.
Within 15 days of completing an “Early Planning Agreement, you must complete a Purchase Agreement. At the time you enter into a Purchase Agreement, you will also be required to remit the required deposit (see below).
During the “Early Planning Agreement” process, GST will be calculated at a full 5%. When you enter into a Purchase Agreement for a primary residence, the “Developer” will apply for the GST rebate. This rebate is collected and paid back to the developer.
Our Preferred Lender is Here!
All purchasers will need to finalize their own financing as per their needs and qualifications. The WOODS offers you our preferred lender who will assist you at no charge with your financing needs. They have prepared special mortgage packages just for our project, offering discounts on posted long term rates. The best part is, once you lock in your rate with them, in many cases they can hold it for you for in some cases up to 18 months. If you are planning to purchase a suite in one of our projects, we encourage you to speak with them.
Buying a condo as a second home or investment property
If you are purchasing the suite as a second home or investment property, at the time you enter into a Purchase Agreement (Contract) you will be required to make a minimum 15% deposit. If you intend to purchase more than one suite, each Contract will require a 15% deposit.
Referral fees are available for Realtors
We offer realtors who represent the purchaser or themselves as a Realtor/purchaser, a referral fee or commission. Please contact our sales team for further information
What will be available for color selections and suite options?
Interior color palette package options will be made available from our interior design professionals for you to choose from, closer to the start of construction. Available upgrade packages will be clarified at that time and 10% of the total cost of the upgrades chosen will be due at the time of selection. Please ask your sales representative for further information.
What additional costs will I incur?
On mortgage financing of 95%, CMHC insurance fees of 3.15% will be added to your mortgage. For exact percentages see the CMHC web site: http://www.cmhc-schl.gc.ca/en/co/moloin/moloin_005.cfm
Legal fees and registration costs of approximately $800 to $1,100 will also be due at possession and those fees should be discussed with your lawyer.
At the time that you complete your Purchase Agreement, We will provide you with a special offer which will substantially reduce your Legal Fees should you choose to take advantage of it.
Monthly and Annual Expenses
Estimated monthly condominium fees are based on historical figures for similar projects. They include water, heat, building maintenance, grounds maintenance, insurance, reserve fund for long term expenditures, plus third party management fees and will be approximately 17-28 cents per square foot.
Annual property taxes are billed, Discuss with the City of Brandon to find out current rates.
Are pets allowed in the Development?
In most of our projects, Pets are allowed, if they weigh less than 25 LBS. No more than two pets per suite. Guide dogs and certified companions do not adhere to the above weight limit. Dogs must be well behaved, quiet and curbed.
How is the size of the Unit determined?
Unit sizes disclosed in marketing drawings are measured from the outside face of the exterior walls (excluding the thickness of the exterior cladding, for example: the stucco, siding and brick), the corridor face of the corridor walls and the center of the party walls (the wall between units). This is consistent with industry standards.
The surveyor may use a different method of measurement for the Condominium Plan registered with the City. Municipal tax authorities may also use a different method of determining the size of a unit.
The estimated unit factors (used to determine your condo fees) and square footage of the purchased unit may change slightly upon actual measurement by the surveyor following completion of construction.
What if I have more unanswered questions?
Please feel free to contact one of our sales representatives or our corporate Sales Office at
We will be happy to answer any additional questions you may have.