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Several Ontario homebuyers contested unexpected closing costs imposed by a developer. These buyers had entered into Agreements of Purchase and Sale (APS) for townhouse units priced between $400,000 and $700,000. Shortly before closing, the developer presented statements of adjustment that included "Utility Meter Installation Charges" and other fees related to utilities, construction management, and landscaping, with some charges reaching up to $86,000. The developer provided a certificate summarizing total project costs, allocating portions to each buyer based on their unit's share. Despite closing the transactions, the buyers challenged these additional charges post-closing.

Read the full article on: REAL ESTATE MAGAZINE