{"id":5,"date":"2026-09-24T13:00:00","date_gmt":"2026-09-24T13:00:00","guid":{"rendered":"http:\/\/blogs.room-vu.com\/rontenbrinke-ca\/2026\/09\/24\/ontario-condo-closings-face-value-gap-rontenbrinke-ca\/"},"modified":"2026-09-24T13:00:00","modified_gmt":"2026-09-24T13:00:00","slug":"ontario-condo-closings-face-value-gap-rontenbrinke-ca","status":"publish","type":"post","link":"https:\/\/www.rontenbrinke.ca\/blog\/2026\/09\/24\/ontario-condo-closings-face-value-gap-rontenbrinke-ca\/","title":{"rendered":"Ontario Condo Closings Face Value Gap | rontenbrinke.ca"},"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\/ron-tenbrinke\/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>We&#039;re seeing a tough situation for many Ontario condo buyers right now: recent closings have left some purchasers facing up to a 30% gap between what they agreed to pay and their unit\u2019s current market value. Because banks base mortgage approvals on the appraised value at closing\u2014not the contract price\u2014this gap can mean buyers suddenly don\u2019t have enough funds to complete their purchase. Much of this comes from the long stretch between pre-construction sales and final closing: by the time permits, approvals, and construction delays (including labour shortages) play out, the market can shift dramatically. In busier seller\u2019s markets, developers would sometimes cancel deals due to rising costs, which led to more government oversight and calls for independent reviews. For buyers, the contracts are complex and options to walk away are limited\u2014usually just a 10-day cooling-off period or an out if the builder misses the final occupancy date.<\/p>\n<p>Having invested, managed, and taught real estate across Ontario for decades, I know how important it is to understand these risks before signing. Careful contract review and planning are key, especially for anyone considering pre-construction investments. If you\u2019re weighing your options, my experience across single family, multi-family, and investment properties can help you spot pitfalls\u2014and opportunities\u2014so you can move forward with confidence.<\/p>\n<\/p><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>We&#039;re seeing a tough situation for many Ontario condo buyers right now: recent closings have left some purchasers facing up to a 30% gap between what they agreed to pay and their unit\u2019s current market value. Because banks base mortgage approvals on the appraised value at closing\u2014not the contract price\u2014this gap can mean buyers suddenly [&hellip;]<\/p>\n","protected":false},"author":534,"featured_media":6,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-posts"],"_links":{"self":[{"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/posts\/5","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/users\/534"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/comments?post=5"}],"version-history":[{"count":0,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/posts\/5\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/media\/6"}],"wp:attachment":[{"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/media?parent=5"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/categories?post=5"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rontenbrinke.ca\/blog\/wp-json\/wp\/v2\/tags?post=5"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}