In order to comply with the Act, what must a developer do before it can market a unit in a development property?
A. Before a developer can market a development unit, it must: meet preliminary approval requirements (see sections 4 to 10 of the Act); adequately assure title, utilities and services (see sections 11 to 13 of the Act); and file a Disclosure Statement with our office (see sections 14 to 17 of the Act, and the Superintendent of Real Estate’s Policy Statements).
Related Questions
- I’m considering the purchase of a property that’s still under development. What do I stand to lose if the developer ceases trading before the sale has been completed?
- Im considering the purchase of a property thats still under development. What do I stand to lose if the developer ceases trading before the sale has been completed?
- A proposed development project located on a nearby property is going through the Act 250 process. What chance do I have to participate?
