2604 Hibiscus Dr., Pickering
This is a story of knowing when to put your foot down.
I had a first-time homebuyer reach out to me looking to purchase her first house with her fiancée. They were extremely organized and had a very clear idea of what they wanted and what they needed to be prepared. However, they weren’t sure quite where they wanted to live… so, we set off on a journey across the GTA. With their budget and criteria, there weren’t many great options in Toronto, so we explored York and Durham Regions. Within two days of showings, it was clear what they wanted and what they didn’t want, and lo and behold, we found their dream house. But there was a catch, it was a newly built home being sold directly by the builder – which means we do not have the same flexibility they would if negotiating with a traditional seller.
At this time, freehold new builds did not have obligatory 10-day cooling off periods, and the builder would not permit any changes to their standard purchase agreement which meant we had to go in with a firm offer. This is where we ran into a bit of a pickle. There were some unique circumstances that required a financing condition on the lender’s side, and the builders weren’t accommodating it. FINALLY, we got them to agree to a very short condition, but unlike a standard purchase where the buyer’s agent drafts up the purchase agreement, we had to wait for the builder’s agent to send us the drafted agreement.
As perfect as timing can get, this all happened the morning I was leaving for a vacation. Once I pass customs at the airport, I get a text from my client saying the builder’s agent is on the phone with them and something didn’t feel right. Turns out, the agent was trying to dissuade the buyer from having a lawyer review the 60+ page (and very complex) purchase agreement, saying it is unnecessary because the builder won’t permit any changes anyways. I am so happy my client called me when they did because I put my foot down and told the agent it did not matter that they couldn’t make changes, they need to understand what they are signing.
Thank goodness for airplane wi-fi because I spent the entire 5-hour flight reviewing the purchase agreement and communicating with my clients and their lawyer. Despite the rocky start, we managed to negotiate a great price they got their dream home.
