{"id":22,"date":"2026-09-23T09:00:00","date_gmt":"2026-09-23T09:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/realtyprime-ca\/2026\/09\/23\/ontario-condo-closings-face-value-gap\/"},"modified":"2026-09-23T09:00:00","modified_gmt":"2026-09-23T09:00:00","slug":"ontario-condo-closings-face-value-gap","status":"publish","type":"post","link":"https:\/\/www.realtyprime.ca\/blog\/2026\/09\/23\/ontario-condo-closings-face-value-gap\/","title":{"rendered":"Ontario Condo Closings Face Value Gap"},"content":{"rendered":"<div class=\"video-zmyer\">\n<div class=\"video-frame-zmyer\">\n        <iframe loading=\"lazy\" width=\"640\" height=\"640\"\n                src=\"https:\/\/www.roomvu.com\/agent\/embed\/sam-alhashlamoun\/close-completing-purchases-1c5c\"\n                frameborder=\"0\"\n                allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\"\n                allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>In my two decades working across Ontario\u2019s construction and development landscape, I\u2019ve seen the complexities behind condo purchases firsthand. Right now, some buyers are discovering that their pre-construction condo closing costs can exceed the current market value of their units by as much as 30%. This happens when a condo\u2019s value drops below the price agreed upon during pre-sale, leaving purchasers with a significant funding gap. Since lenders base mortgages on present appraised values, buyers often find themselves short when it\u2019s time to close\u2014especially on deals signed years earlier. Extended timelines caused by pre-sales, permitting, contractor negotiations, and labor shortages can leave plenty of room for the market to shift, sometimes catching even seasoned buyers off guard. Notably, during Ontario\u2019s previous seller\u2019s market, developers occasionally canceled contracts as costs soared, sparking provincial intervention and calls for more accountability. The contracts themselves don\u2019t offer much flexibility for buyers, with only a brief 10-day cooling-off period or the option to exit if the occupancy deadline isn\u2019t met. Drawing on my experience guiding families and investors through each stage of the property journey, I know how critical it is to understand these risks before making a commitment in today\u2019s evolving condo market.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In my two decades working across Ontario\u2019s construction and development landscape, I\u2019ve seen the complexities behind condo purchases firsthand. Right now, some buyers are discovering that their pre-construction condo closing costs can exceed the current market value of their units by as much as 30%. This happens when a condo\u2019s value drops below the price [&hellip;]<\/p>\n","protected":false},"author":331,"featured_media":46,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/posts\/22","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/users\/331"}],"replies":[{"embeddable":true,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/comments?post=22"}],"version-history":[{"count":0,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/posts\/22\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/media\/46"}],"wp:attachment":[{"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/media?parent=22"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/categories?post=22"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.realtyprime.ca\/blog\/wp-json\/wp\/v2\/tags?post=22"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}