{"id":64,"date":"2026-10-01T11:00:00","date_gmt":"2026-10-01T11:00:00","guid":{"rendered":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/?p=64"},"modified":"2026-10-01T11:00:00","modified_gmt":"2026-10-01T11:00:00","slug":"ontario-condo-closings-face-value-gap","status":"publish","type":"post","link":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/2026\/10\/01\/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\" src=\"https:\/\/www.roomvu.com\/agent\/embed\/corinne-turansky\/close-completing-purchases-1c5c\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><br \/>\n        <\/iframe>\n    <\/div>\n<div class=\"video-description-zmyer\">\n<p>There\u2019s a tough situation unfolding in Ontario\u2019s condo market right now. Some buyers are finding that, as their units reach closing, the appraised values have dropped well below what they agreed to pay\u2014sometimes by as much as 30%. This means banks are only willing to lend based on today\u2019s lower values, leaving buyers short on the funds needed to close.<\/p>\n<p>Much of this comes down to the long period between signing and closing\u2014a window often stretched by pre-sales, construction approvals, and ongoing labor shortages. This delay has given the changing market time to shift, leaving buyers in a difficult spot. In the earlier seller\u2019s market, developers responded to rising costs by occasionally canceling deals, which caught the attention of the province and led to calls for tighter rules and independent oversight.<\/p>\n<p>Condo contracts tend to be complex, too, offering few ways out for purchasers beyond a 10-day cooling-off period or when occupancy dates aren\u2019t met. As someone who\u2019s guided many clients through buying in Eastern Ontario, I know how important it is to stay informed and prepared for these kinds of challenges. My honest advice: always go into these agreements with your eyes wide open, and don\u2019t hesitate to ask questions if something doesn\u2019t feel clear.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s a tough situation unfolding in Ontario\u2019s condo market right now. Some buyers are finding that, as their units reach closing, the appraised values have dropped well below what they agreed to pay\u2014sometimes by as much as 30%. This means banks are only willing to lend based on today\u2019s lower values, leaving buyers short on [&hellip;]<\/p>\n","protected":false},"author":95,"featured_media":65,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-64","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/posts\/64","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/comments?post=64"}],"version-history":[{"count":1,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/posts\/64\/revisions"}],"predecessor-version":[{"id":66,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/posts\/64\/revisions\/66"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/media\/65"}],"wp:attachment":[{"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/media?parent=64"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/categories?post=64"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.corinneturanskyeasternontariorealtor.com\/blog\/wp-json\/wp\/v2\/tags?post=64"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}