How to Buy a Unit
- Choose your Unit
- Complete and sign the Reservation Agreement (RA) and pay a refundable deposit ($5,000) to secure Unit.
- Advise us of your attorney’s name and contact details
- Ensure that your financial arrangements are in place and inform us of the lending institution.
- Within 30 days of your attorney receiving our Sale Agreement, sign and return it along with a cheque for 10% of the total purchase price, less the $5,000 RA payment.
- Upon conveyance to you of title of your Unit, pay final 90% of purchase price.
Estimated monthly Common Charges
Each Unit Owner pays a monthly charge for insurance of his/ her Unit, external repairs & maintenance of the buildings, pool, roadways etc, on-site manager and any other common expense decided upon by the Board of the Proprietors Unit Plan (see below).
The monthly charges for each unit type, including building insurance, in BDS $) are:
Studio or 1 Bedroom unit : $258
2 Bedroom Unit : 438 – $454
Townhouse : $528 – $541.
Summary of Legal Documents/Terms
- Reservation Agreement – to hold your preferred Unit until we send the other legal documents to your lawyer.
- Condominium Declaration – document filed to register the property under the Condominium Act. It contains a full description of the property, common areas and separate Units, and the covenants and conditions of ownership, and the by-laws of the body corporate (PUP – see below), established and owned by all Unit owners to manage the property.
- Contract and Conveyance – To own your Unit you enter a Purchase/ Sale Agreement with us, the developers. A legal conveyance is subsequently completed which ensures that you get clear title to the Unit as Purchaser and a share in the Common Areas.
- Proprietors Unit Plan (PUP) – owned jointly by all Unit owners. The PUP generally is responsible for the maintenance and upkeep of the common areas and for levying common charges on the Unit owners to pay those costs. The PUP is managed by a Board comprised of 7 owners elected annually by all the Unit Owners.