What is the Interim Statement of Adjustments?
This only applies to condominiums that you are buying from a builder. Typically, one to two weeks before the Interim Closing of your purchase, we will provide you with the builders “Interim Statement of Adjustments.” This document will ask you to prepare post-dated cheques for interim occupancy fees (rent) and any further deposits to be made. Please note that we can only provide you with numbers once we receive this document from the builder’s/seller’s/vendor’s lawyer. We will provide this document to you, along with the next steps, via email immediately upon receipt of same. Upon receiving the document we will set up a meeting at our office to sign the relevant paperwork. This meeting will take 10-15 minutes and can occur any time up from the receipt of the document until the morning of your closing, but no later than 10:30 a.m. You will receive your keys, more often than not, from the builder’s site office on the day of the interim closing, typically, between 3:30 p.m. to 5:00 p.m. O
