Purchase Process

Deposit Structure
& Purchase Milestones

Staged deposits, APS timelines, and what to expect from registration through to closing.

How It Works

A Staged, Secure
Purchase Process

Pre-construction commercial purchases are structured with staged deposits that align with project milestones. Each stage is secured and held in trust — you're not releasing funds until the project demonstrates progress.

Registration of interest carries no obligation. Once you're ready to proceed, the formal process moves from Reservation through Agreement of Purchase and Sale to Closing.

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All Deposits Held in Solicitor's Trust

All deposits paid prior to closing are held in trust by your vendor's solicitor and released only against project milestones and closing conditions. Deposits are not available for developer operating use.

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The Four Stages

From Registration to Keys

1
Reservation
Submit your interest registration. A designated sales representative will contact you with unit availability, floor plans, and pricing under confidentiality.
Complete registration form online
Sign mutual NDA
Receive unit information package
No financial obligation at this stage
2
APS Execution
Sign the Agreement of Purchase and Sale with your solicitor. The APS sets out all terms, unit specifications, deposit schedule, and closing conditions.
Initial deposit payable on signing
10-day statutory rescission period
Unit allocation confirmed in writing
Legal counsel recommended
3
Construction Milestones
Additional deposit tranches are paid against verified construction milestones — typically at slab, structural, and substantial completion. Each tranche held in trust.
Deposits tied to construction progress
Milestone certificates issued by project engineer
Tenant improvement planning begins
Lender consent and assignment clauses standard
4
Closing & Possession
Balance of purchase price payable on the closing date via your solicitor. Title transfers and keys are released. Tenant improvement period begins immediately.
Final balance via solicitor's trust
Title registration in Land Registry
Certificate of Occupancy issued
TI period commences
Deposit Schedule Summary

Staged Tranche Structure

1
On APS Execution
Initial Deposit

Paid with your signed Agreement of Purchase and Sale. Held in solicitor's trust. Refundable during the 10-day statutory rescission period.

Percentage of purchase price — provided in unit information package
2
Construction Progress
Stage 2 Deposit

Due upon verified construction milestone (slab or structural completion). Certified by project engineer. Held in trust — not released to developer until closing.

Tranche amount specified in APS
3
Substantial Completion
Stage 3 Deposit

Payable on building substantial completion, approximately 60–90 days before closing. Allows purchasers time to finalize financing and tenant improvement planning.

Tranche amount specified in APS
4
Closing
Balance of Purchase Price

Remaining purchase price payable on the closing date via registered solicitor. Title registers in the purchaser's name. Deposits released to developer upon closing.

Balance = Purchase Price less all deposits paid
Key Terms

What You Should Know

What does the 10-day rescission period mean?
Under the Ontario New Home Warranties Plan Act and common commercial practice, you have 10 calendar days after signing the APS to rescind (cancel) without penalty. Your initial deposit is returned in full if you exercise this right within the window.
Can I assign my unit before closing?
Assignment rights are negotiated at the APS stage. Assignments are subject to developer consent and may require payment of an assignment fee. Consult your solicitor before assuming assignment is permitted.
Are deposits refundable if the project doesn't proceed?
All deposits are held in solicitor's trust. Refund conditions, including those related to zoning approval, project delays, or developer default, are set out specifically in the APS. Your solicitor should review all refund provisions before signing.
Is independent legal advice required?
It is strongly recommended. Commercial real estate purchase agreements are legally binding contracts with significant financial consequences. Your solicitor reviews the APS on your behalf and may negotiate amendments before signing.
Can I obtain financing before closing?
Yes. Pre-construction commercial financing is available through most chartered banks and commercial lenders. Lenders typically require a signed APS and will provide a commitment letter against the anticipated completed value of the unit.
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Solicitor's Trust

All deposits are held in a designated trust account by the vendor's solicitor under Law Society regulations. Funds are segregated from developer operating accounts.

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Independent Legal Review

The APS is a binding contract. We strongly recommend retaining independent legal counsel to review all terms, conditions, and schedules before execution.

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Commercial Financing

Pre-construction commercial mortgages are available through major lenders. Financing commitments can be arranged in advance of your closing date against the APS.

Start the Process Today

Register your interest — no obligation, no deposit required at this stage. A representative will contact you with unit information and next steps.

Register Now View Unit Plans →