Thursday, June 25, 2009
Flipping Your Minto SKYY Condo?
If you are planning on flipping your Minto Skyy Condo unit consider this:
If you have purchased a Minto Skyy condo with the intention to flip it (sell it without actually occupying it), the seller must register the property with Tarion.
The seller must now provide the buyer with a letter agreement stating that the sale of the Skyy condo unit is a resale deal, the start date of the warranty and the remaining warranty info along with the contact info. This letter agreement should be provided by the seller, at the seller’s expense to the buyer. The form must be picked up in person from Tarion and has a cost of $350.
If you have purchased a Minto Skyy condo with the intention to flip it (sell it without actually occupying it), the seller must register the property with Tarion.
The seller must now provide the buyer with a letter agreement stating that the sale of the Skyy condo unit is a resale deal, the start date of the warranty and the remaining warranty info along with the contact info. This letter agreement should be provided by the seller, at the seller’s expense to the buyer. The form must be picked up in person from Tarion and has a cost of $350.
Thursday, June 18, 2009
Minto Skyy Condo Move in Date
So as an anxious, proud Minto owner when are you going to actually move in and how is it determined?
First off you should know that the builder has every incentive to move us into the building ASAP. As was explained in the last Skyy magazine Spring 2009 TD bank is financing Minto for the building project with a construction loan. So just like any other mortgage, Minto has to pay their monthly mortgage to the TD bank.
As each resident moves in Minto charges you an occupancy fee. Think of the occupancy fee as rent or its sometimes referred to as a ghost mortgage. The sooner each resident moves in, the sooner Minto can charge occupancy fees to help cover their financing expenses. (I won't tackle the questions around occupancy fees vs. mortgage in this post... but when you move in there is no need to have mortgage financing in place)
Minto will kindly ask you to move in as soon as your unit is finished. Now, that doesn't mean that you actually have to move in and occupy, it just means that from that date forth you will be paying the monthly occupancy fees. That means, if you are selling your current home and trying to figure out the timing beware because you may be on the hook to pay the equivalent of two mortgage payments.
Builders typically finish units methodically starting from the bottom up. So if you are on the 4th or 5th Floor you are likely to be the first to move... maybe even before the townhouses are finished. And don't be surprised if when you move into your floor the hallways and floors are still unfinished. From there it all depends on how efficient and quickly the builders are at finishing each unit. Of course the bad news is if you are on the lower floors you will have to pay lots of money in occupancy fees before the building is finally finished, the condo corporation is registered and you can finally register your own mortgage.
By Christopher Molder, Danforth Mortgage Broker 416.461.0204ext2.
First off you should know that the builder has every incentive to move us into the building ASAP. As was explained in the last Skyy magazine Spring 2009 TD bank is financing Minto for the building project with a construction loan. So just like any other mortgage, Minto has to pay their monthly mortgage to the TD bank.
As each resident moves in Minto charges you an occupancy fee. Think of the occupancy fee as rent or its sometimes referred to as a ghost mortgage. The sooner each resident moves in, the sooner Minto can charge occupancy fees to help cover their financing expenses. (I won't tackle the questions around occupancy fees vs. mortgage in this post... but when you move in there is no need to have mortgage financing in place)
Minto will kindly ask you to move in as soon as your unit is finished. Now, that doesn't mean that you actually have to move in and occupy, it just means that from that date forth you will be paying the monthly occupancy fees. That means, if you are selling your current home and trying to figure out the timing beware because you may be on the hook to pay the equivalent of two mortgage payments.
Builders typically finish units methodically starting from the bottom up. So if you are on the 4th or 5th Floor you are likely to be the first to move... maybe even before the townhouses are finished. And don't be surprised if when you move into your floor the hallways and floors are still unfinished. From there it all depends on how efficient and quickly the builders are at finishing each unit. Of course the bad news is if you are on the lower floors you will have to pay lots of money in occupancy fees before the building is finally finished, the condo corporation is registered and you can finally register your own mortgage.
By Christopher Molder, Danforth Mortgage Broker 416.461.0204ext2.
Wednesday, June 17, 2009
Suites at the Minto Skyy Condo
One bedroom suites from: 522 sq ft to 983 sq ft
Two bedroom suites from: 800 sq ft to 1191 sq ft
SkyyTowns( Townhomes) : 734 sq ft
Lockers from: $3,500
Parking from: $24,000
Two bedroom suites from: 800 sq ft to 1191 sq ft
SkyyTowns( Townhomes) : 734 sq ft
Lockers from: $3,500
Parking from: $24,000
Tuesday, June 16, 2009
Chris Molder Featured in The Minto Skyy Newsletter!!
On His Way Up: Young and Successful!
“It didn’t take me long to decide,” he says, recalling his first visit to the Welcome Centre where he met Sales Rep Kim Kopyl. “It just made sense to me.”
Christopher has good instincts when it comes to real estate. He works with his father, Arnold Molder (pictured above with Christopher), at Tridac – The Mortgage Centre, located on the Danforth near Broadview. Experienced colleagues brought MintoSkyy to his attention, pointing out the beauty of the location and the fact that Minto is well-known for excellence.
“MintoSkyy had everything I wanted,” he says. “It’s close to everything, including the green of the Don Valley, Yonge & Bloor, the subway.”
An avid runner and lover of the outdoors, Christopher looks forward to enjoying the Don Valley ravine at his doorstep. Molder is also a member of a sailing club located directly south at Toronto’s Cherry Beach, and a musician with the Latin band “Plan C” (soon to release its second CD).
He chose the one-bedroom “Ice” model, praising the suite’s beautiful southeast exposure and extensive window frontage. Chris also appreciates the computer niche that allows him to comfortably blend his worklife with his home, and he looks forward to using MintoSkyy amenities including the party room, gym, media room and terrace.
“What a nice way to invite someone over,” he says,“ when your building has an outdoor barbeque niche overlooking the city.”
As a young man moving up in the world, Christopher Molder can’t wait to move in to MintoSkyy.
Buying your first home at age 24 is a big step. But for Christopher Molder, purchasing a suite at MintoSkyy was “a natural decision”.
“It didn’t take me long to decide,” he says, recalling his first visit to the Welcome Centre where he met Sales Rep Kim Kopyl. “It just made sense to me.”
Christopher has good instincts when it comes to real estate. He works with his father, Arnold Molder (pictured above with Christopher), at Tridac – The Mortgage Centre, located on the Danforth near Broadview. Experienced colleagues brought MintoSkyy to his attention, pointing out the beauty of the location and the fact that Minto is well-known for excellence.
“MintoSkyy had everything I wanted,” he says. “It’s close to everything, including the green of the Don Valley, Yonge & Bloor, the subway.”
An avid runner and lover of the outdoors, Christopher looks forward to enjoying the Don Valley ravine at his doorstep. Molder is also a member of a sailing club located directly south at Toronto’s Cherry Beach, and a musician with the Latin band “Plan C” (soon to release its second CD).
He chose the one-bedroom “Ice” model, praising the suite’s beautiful southeast exposure and extensive window frontage. Chris also appreciates the computer niche that allows him to comfortably blend his worklife with his home, and he looks forward to using MintoSkyy amenities including the party room, gym, media room and terrace.
“What a nice way to invite someone over,” he says,“ when your building has an outdoor barbeque niche overlooking the city.”
As a young man moving up in the world, Christopher Molder can’t wait to move in to MintoSkyy.
* Article and picture taken from the Minto Sky Newsletter
Minto Skyy Condo: Amenities
Cancel Your Gym Membership! The Skyy Condo offers its residents exclusive use of the buildings gym facilities which is fully equipped with cardio machines, an aerobics studio with yoga and exercise classes, free weights, his and her changeroom, locker area, showers.
You’ll never run out of things to do at the Minto Skyy Condo. Entertain guests in the entertainment lounge and media screening room. Enjoy a BBQ on the 2nd floor outdoor landscaped terrace and outdoor lounge area or show off your cooking skills in professionally styled gourmet kitchen and dining area.
Guests never have to worry about parking as the Minto Skyy Condo offers guest parking.
You’ll never run out of things to do at the Minto Skyy Condo. Entertain guests in the entertainment lounge and media screening room. Enjoy a BBQ on the 2nd floor outdoor landscaped terrace and outdoor lounge area or show off your cooking skills in professionally styled gourmet kitchen and dining area.
Guests never have to worry about parking as the Minto Skyy Condo offers guest parking.
The Neighbourhood- Danforth
The Taste of the Danforth!
Runs from August 7th to the 9th /2009.
Aug 7: 6 - 11 pm
Aug 8: noon - 11 pm
Aug 9: noon - 8 pm
Runs from August 7th to the 9th /2009.
Aug 7: 6 - 11 pm
Aug 8: noon - 11 pm
Aug 9: noon - 8 pm
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