Hi everyone.
I’m asking for my little sister who is completely stressed out about buying a new build from Minto. She’s in Ottawa and her final day of the conditional period is tomorrow end of day.
So here’s the important info:
- house is priced at $684,900
- downpayment is whatever the instalments outlined by minto
- the 13% HST rebate is IN the price of the home
- Minto said they will only deduct it from the price if it becomes law by closing date
- closing date is mid August
- they are not first time home buyers
So, with all info, here are the concerns and questions:
- Will they receive the full 13% HST rebate?
- is the 5% federal portion ONLY for first time home buyers?
- if so, does that mean they will only receive the 8% provincial amount?
- there’s a part in the contract that says “New housing rebate included in the purchase price (pursuant to section 254 of the Excise Tax Act) (added pic
- what is the $24,000 exactly?
- it looks like the total house amount is really $708,900 and the 13% - if deducted - will bring the final home price to $627,345. Is this correct?
- is the 24K something that’s specific to Minto? A random added charge that they need to pay so they put it into the purchaser?
Any help or clarify would be greatly appreciated! I’ve never bought a new build, neither has our immediate family. We’re a bit lost. And her lawyer hasn’t been responding.
Thank you!