楼花合同注意事项
9 个条款 · 10 天窗口 · 一份清单 Pre-Construction Contract
9 Clauses · 10-Day Window · One Checklist

Freehold 新房：10 个日历日，从 buyer 签字之日起算（《New Home Construction Licensing Act》）。 Freehold new home: 10 calendar days from the date the buyer signs (New Home Construction Licensing Act).

Condo unit：10 个日历日，从 buyer 收到 builder 签好的 APS + Disclosure Statement 完整 package 之日起算（Condominium Act s.73）。注意：是收到完整 package 那天 — 不是签字那天，也不是 builder 销售中心给你递文件那天。 Condo unit: 10 calendar days from the date the buyer receives a copy of the signed APS and the Disclosure Statement together (Condominium Act s.73). Watch out: it’s the date of receipt of the complete package — not the signing date, not the date the sales centre handed you the deal sheet.

楼花律师审合同通常收 $400–$800（不含产权过户的最终 closing 费用），1–2 个工作日出报告。报告应该包含以下 9 个条款的逐条解读： A pre-construction contract review usually runs $400–$800 (separate from final closing), with a written report in 1–2 business days. The report should walk through these 9 clauses one by one:

1. Occupancy / Closing 日期（Firm vs Tentative，Outside Closing Date）Occupancy / Closing dates (Firm vs Tentative, Outside Closing Date)
2. Material Change 定义Definition of Material Change
3. Builder 单方修改权 + Square Footage ToleranceBuilder unilateral modification rights + square footage tolerance
4. Adjustments / Levies / Cap（最容易爆 $20k–$40k 的地方）Adjustments / Levies / Cap (the easiest place to lose $20k–$40k)
5. HST New Housing Rebate（builder 拿还是 buyer 拿）HST New Housing Rebate (kept by builder or assigned to buyer)
6. Assignment 条款（fee、consent、profit clause）Assignment clause (fee, consent, profit clause)
7. Deposit Trust / Insurance（钱在哪里、谁保护）Deposit Trust / Insurance (where the money sits, who insures it)
8. Upgrade / Color Selection 时间 + 退订规则Upgrade / Colour selection deadlines + cancellation rules
9. Right of First Refusal / Restrictive CovenantsRight of First Refusal / Restrictive Covenants

下面 Part 2 把这 9 条逐条拆开。 Part 2 below walks each of these clauses in detail.

10 天 rescission 不需要理由，但必须是 书面通知（律师函或 email + signed PDF 都可以），在期限届满前送达 builder 或其指定律师。建议同时走 email + courier 双通道，保留送达回执。 Rescission needs no reason, but must be written (lawyer letter or email + signed PDF), delivered before the 10-day deadline to the builder or its solicitor. Use both email and courier with delivery confirmation.

退款：Builder 必须在合理时间内（一般 10–20 个工作日）全额返还 deposit，不扣手续费、不扣已选 upgrade、不扣销售佣金。Builder 拒退或扣减都属违法，可向 HCRA / Tarion 投诉。 Refund: the builder must return the deposit in full within a reasonable time (typically 10–20 business days), no deductions for fees, upgrades selected, or sales commission. Refusal or partial refund is unlawful — file a complaint with HCRA / Tarion.

Occupancy / Closing 日期 — Firm 还是 TentativeOccupancy / Closing — Firm vs Tentative

TARION Addendum 区分两种 closing 日期：Firm（确定日期，builder 延期超过 7 天 buyer 即可退合同 + 全额退款）和 Tentative（暂定日期，builder 有权按规则延期到 Outside Occupancy / Closing Date，最长可推到签约后 4–5 年）。Schedule B 默认都是 Tentative。 The TARION Addendum distinguishes Firm dates (fixed; if the builder delays more than 7 days, the buyer can rescind and recover the deposit in full) from Tentative dates (provisional; the builder may extend per Addendum rules up to the Outside Occupancy / Closing Date — often 4–5 years after signing). Schedule B defaults to Tentative.

必看：合同里的 Outside Occupancy Date 和 Outside Closing Date 是 builder 的”最迟必须交付日”。条款里如果出现 “extend by an additional period” 之类的措辞，让律师圈出 — 这是 builder 在标准 Addendum 之上再加延期权。 Read this: the Outside Occupancy Date and Outside Closing Date are the builder’s absolute latest delivery dates. If Schedule B contains “extend by an additional period” beyond the Addendum’s permitted extensions, have your lawyer flag it — that’s the builder bolting on extra extension rights on top of the standard regime.

2026 现状：GTA 楼花平均”实际交付 vs Tentative Occupancy”延期 14–22 个月（Urbanation 2024 GTA pre-con report），延到 Outside Date 的项目里 20%+ 触发 Tarion Delayed Closing Compensation（$150/天上限 $7,500）。 2026 reality: average GTA pre-con delivery is 14–22 months later than Tentative Occupancy (Urbanation 2024 GTA pre-con report), and 20%+ of projects hitting the Outside Date trigger Tarion Delayed Closing Compensation ($150/day, capped at $7,500).

Material Change — “重大改变”才能退合同Material Change — Only “Material” Lets You Walk

《Condominium Act》s.74 规定：builder 在交房前对 Disclosure Statement 做”重大改变”，必须书面通知 buyer，buyer 有 10 天可以选择退合同。但 — “重大”两个字的定义权在 builder 的 Schedule B 里。常见写法：”material change 不包括 unit number 变更、楼层调整、平面图 ±2% 面积变化、外立面材料替换、共用区设计调整……” Condominium Act s.74 requires the builder to notify the buyer in writing of any material change to the Disclosure Statement, giving the buyer 10 days to rescind. But — the definition of “material” lives in Schedule B. Typical builder language: “material change does not include unit number change, floor adjustment, ±2% floor area variation, exterior material substitution, common element redesign…”

谈判点：让律师把”non-material change”列表里你最在意的项剔出来 — 比如把 unit 从 12 楼挪到 5 楼、把 balcony 取消、把朝向改了。这些在 Schedule B 默认都不算 material — 但你可以在 10 天窗口里要求 builder 改条款（builder 通常不改，但律师函可以谈下来”unit number 变更必须 buyer 同意”）。 Negotiation point: ask your lawyer to extract the items you care about most from the “non-material” list — e.g., relocation from floor 12 to floor 5, balcony removed, exposure changed. These are typically deemed non-material by default. You can ask (within the 10-day window) for “unit number changes require buyer consent” to be added. Builders often refuse but sometimes concede on unit relocation.

Builder 单方修改权 + 平面图 ±2% ToleranceBuilder Modification Rights + ±2% Floor-Area Tolerance

行业标准条款：builder 保留”对建筑外立面、共用区、单元 layout 做必要修改的权利”且 “面积浮动 ±2% 不构成违约、不调整房价”。这意味着你买的 700 sf 户型，最终可能交付 686 sf — 按 $1,500/sf 即少 $21,000 实际面积，房价一分不退。 Industry standard: builder reserves “the right to make necessary modifications to exterior, common elements, and unit layouts,” with “±2% floor-area variation not constituting breach or price adjustment.” Your 700 sf unit could deliver at 686 sf — at $1,500/sf that’s $21,000 of missing area with no price refund.

怎么核对：看 Schedule B 里 tolerance 的具体百分比（±2% 是行业平均，有 builder 写 ±5%，那就是亏 $52k 仍不算违约）。其次看 “without adjustment to purchase price” 这句是否存在 — 加进去就意味着 builder 缩水不退钱。

买 small unit（500 sf 以下）尤其要算：单位面积越小，2% 损失越显著的硬装格局变化。 How to check: find the specific tolerance percentage in Schedule B (±2% is industry-average; some builders write ±5%, meaning a $52k loss is still not breach). Then check whether “without adjustment to purchase price” appears — if yes, the builder can shrink your unit without refund.

For small units (under 500 sf) the math hurts more: smaller base = bigger percentage of usable layout lost.

Adjustments / Development Levies / Cap — 真正的财务炸弹Adjustments / Development Levies / Cap — The Financial Bomb

交房时 builder 会把”市政开发税 (Development Charges) + 教育税 (Education Levies) + 公园费 (Park Levy) + 各种 utility hook-up + 律师 admin fee”全部转嫁到 buyer 头上。这一项叫 Adjustments / Statement of Adjustments / Closing Adjustments。Schedule B 默认 这些金额没有 cap — builder 收多少你付多少。 At closing, the builder passes on Development Charges + Education Levies + Park Levy + utility hook-ups + various admin fees. This is the Statement of Adjustments. By default Schedule B sets no cap on these — whatever the builder is charged, you pay.

真实案例：2018 年 GTA 某 condo 项目签约 levies 估算 $8,000，2022 年交房实际收取 $42,000（市政 DC 涨了 220%）。Buyer 因为 Schedule B 写”levies as set by municipality at the time of closing”无 cap，多付 $34,000 拿钥匙。 Real case: a GTA condo project signed in 2018 estimated levies at $8,000; at 2022 closing the builder charged $42,000 (municipal DCs rose 220%). Because Schedule B said “levies as set by municipality at closing” with no cap, the buyer paid $34,000 over estimate to get the keys.

HST New Housing Rebate — $24,000 的归属之争HST New Housing Rebate — The $24,000 Question

新房 HST 上限退税最高 $24,000（federal $6,300 + Ontario $24,000，但 Ontario rebate 在房价超 $450k 全额；总 cap ≈ $24,000，依 CRA 公式）。Schedule B 通常写：”builder 已在 advertised price 里扣除了 HST rebate 假设 buyer 自住合资格”。这条话的意思是： The HST New Housing Rebate caps out around $24,000 (federal $6,300 + Ontario $24,000 max, with Ontario rebate fully phased for prices over $450k; total cap ≈ $24,000 per CRA formula). Schedule B typically reads: “builder has incorporated the HST rebate into the advertised price, assuming the buyer qualifies for owner-occupied rebate.” The implication:

• Builder 当场拿 rebate（”assignment of rebate to vendor” 条款）。Buyer 看到的 advertised price 是已经减去 $24k 的”自住价”。The builder takes the rebate up front via an “assignment of rebate to vendor” clause. The advertised price you see is already net of the $24k owner-occupied rebate.
• 交房时如果你不自住（任何形式的”投资 / 出租 / 闲置 / 送朋友住”），CRA 会要求 buyer 把 $24,000 补给 builder（因为 builder 当时按”自住”申请了 rebate，事后核查发现不合规）。If at closing you’re not owner-occupying (any form of investment, rental, vacancy, friend occupancy), CRA requires the buyer to pay $24,000 back to the builder (the builder claimed the rebate based on owner-occupied status; CRA’s post-audit reverses it).
• 投资买家可以通过 HST New Residential Rental Property Rebate (NRRPR) 自己向 CRA 申请，金额相同但要求”signed 1-year lease + 自付 HST 再申请”，整个流程 4–8 个月。这意味着 closing 时你要现金垫付 $24k，4–8 个月后才拿回来。Investor buyers can recover via the HST New Residential Rental Property Rebate (NRRPR) — same amount, but requires a signed 1-year lease and full HST upfront before reclaim. Takes 4–8 months. So at closing, expect to advance $24k cash and wait 4–8 months for CRA refund.

Assignment 条款 — 转让权和它的代价Assignment Clause — The Right to Sell, and Its Cost

Assignment = 在 occupancy 之前把合同（不是物业）转让给第三方。Schedule B 默认 需要 builder 书面同意，且 builder 可以以”任何理由”拒绝（包括”market timing 不合适”）。Assignment 条款必看 4 个数字： Assignment = transferring the contract (not yet a property) to a third party before occupancy. Schedule B by default requires written builder consent, and the builder may refuse “for any reason” (including “wrong market timing”). Four numbers to extract from the assignment clause:

• Assignment Fee：$3,000–$15,000，行业平均 $5,000–$10,000（高端 builder $12k+）Assignment Fee: $3,000–$15,000, industry average $5,000–$10,000 (luxury builders $12k+)
• Profit Sharing：是否 builder 分润？常见 0% 但有 builder 写 “if assignment price exceeds purchase price by more than 5%, vendor entitled to 25% of excess”Profit Sharing: any builder cut? Common is 0%, but some builders write “if assignment price exceeds purchase price by more than 5%, vendor entitled to 25% of excess”
• Marketing Restriction：是否禁止在 MLS / public 网站挂牌？Schedule B 经常写 “no public listing, no MLS, no signs”Marketing Restriction: can it be listed on MLS or public sites? Schedule B often says “no public listing, no MLS, no signs”
• Window：什么时候可以开始 assign？常见 “after deposit reaches 20%” 或 “after 12 months from signing”，不是签字第二天就可以转Window: when can assignment start? Often “after deposit reaches 20%” or “12 months after signing” — not immediately

2026 GTA assignment 市场处于冰封状态（active listing 比 2022 多 4 倍，平均 DOM 超 180 天，普遍低于原 purchase price 转让）。转让市场分析 + 净到手计算公式见下一页：楼花转让合同（建设中）。 The 2026 GTA assignment market is frozen (active listings 4× of 2022, average DOM over 180 days, most assignments trade below original purchase price). Market analysis and net-proceeds math live on the next page: Pre-Construction Assignment Contract (coming soon).

Deposit Trust — 你的钱在哪里、谁保护Deposit Trust — Where the Money Sits, Who Insures It

楼花首付不是给 builder 花的 — 是法定 trust。规则分两层： Pre-con deposits do not belong to the builder — they are statutorily held in trust. Two layers:

• Condo unit（Condominium Act）：Deposit 必须放进 builder 的律师 trust account，且 Tarion Deposit Protection 提供保险（freehold $60,000、condo $20,000–$100,000 按 unit 价分档，up to $300,000 cap on high-rise units after 2017 reforms）。Condo unit (Condominium Act): deposit must sit in the builder’s solicitor’s trust account, with Tarion Deposit Protection as backstop (freehold $60,000; condo tiered $20,000–$100,000 by unit price; up to $300,000 cap on high-rise units post-2017 reforms).
• Freehold 新房：Deposit 同样进律师 trust，超过 $60,000 部分必须 builder 通过 excess deposit insurance 给 buyer 单独投保（条款里看 “Tarion-eligible deposit insurance certificate”）。Freehold new home: deposit also goes into the lawyer’s trust; anything above $60,000 must be backed by builder-provided excess deposit insurance for the buyer (look for “Tarion-eligible deposit insurance certificate” in Schedule B).

必看：Schedule B 里 release of deposit 条款 — builder 是否有权”在 substantial commencement of construction 之后从 trust 提钱进 general account”。这条很关键 — 一旦 builder 把钱拿出 trust，破产时拿回的难度从”trust 100% 受保”变成”general unsecured claim”。要求 builder 把”deposit released only at occupancy”留在合同里。 Read this: Schedule B’s release of deposit clause — does the builder have the right to “draw deposits from trust into the general account upon substantial commencement of construction”? This matters enormously — once funds leave trust, recovery in insolvency drops from “100% trust-protected” to “general unsecured claim.” Insist on “deposit released only at occupancy.”

Upgrade / Color Selection — 时间和退订规则Upgrade / Colour Selection — Deadlines & Refunds

Schedule C/D 里写升级清单 — 但条款核心是两个时间点 + 一个退订规则： Schedules C/D list the upgrade catalogue — but the clauses that matter are two deadlines and one cancellation rule:

• Design Studio Appointment Deadline：通常 signing 后 60–90 天必须完成 design studio 选择。错过这个时间，builder 用 “standard / builder’s choice” 替你定 — 用 builder 默认配置，但费用按 upgrade 收Design Studio Appointment Deadline: usually 60–90 days post-signing. Miss it and the builder applies “standard / builder’s choice” — charging upgrade fees while installing default finishes
• Cancellation Window：选完之后通常 7–10 天可以改主意，之后所有 upgrade 都 non-refundable。100% 全付。Cancellation Window: 7–10 days post-selection to change your mind. After that, upgrades are 100% non-refundable.
• Payment Timing：多数 builder 要 upgrade 选好当场签 + 全额付（或加进 occupancy 时 closing fund）— 提前几年付 markup 60–150% 的装修费Payment Timing: most builders require full upgrade payment on signing or rolled into occupancy closing — paying years upfront for finishes marked up 60–150%

策略建议：只升级”结构性 + 不可逆 + 一次成本低”的项目（电源插座位置、橱柜布局、卫生间布局）。装饰性升级（地板、台面、卫生间瓷砖）等交房后自己做 — markup 减半。详见 楼花购买指南 → Upgrade 那一章。 Strategy: upgrade only structural + irreversible + one-shot items (outlet placement, cabinet layout, bathroom configuration). Defer decorative upgrades (flooring, countertops, bathroom tile) to post-possession — markup roughly halves. See Pre-Construction Buying Guide → Upgrades chapter.

Right of First Refusal + Restrictive CovenantsRight of First Refusal + Restrictive Covenants

Right of First Refusal (ROFR)：少数 builder（多见于 luxury condo 和 master-planned community）保留”如果 buyer 想转售 / assign，builder 有权按相同价格优先收回”的权利。这个条款实际上 消灭了 assignment 的市场价 upside — 你只能按原价卖回给 builder，不能享受市场上涨。 Right of First Refusal (ROFR): some builders (mostly luxury condo and master-planned community) reserve a right to “buy back at the same price if the buyer wishes to resell or assign.” This kills the assignment market upside — you can only sell back to the builder at the original price, never capturing market gains.

Restrictive Covenants：常见限制 — “在 X 年内不得短租 Airbnb”、”外立面不得改装”、”院内不得停 RV / 商用车”、”不得安装 above-ground pool”。这些条款会跟随产权流转给下一任买家，影响 resale。买之前查清楚。 Restrictive Covenants: typical limits — “no short-term rentals (Airbnb) for X years,” “no exterior modifications,” “no RV/commercial vehicle parking,” “no above-ground pools.” These run with title to future buyers and affect resale. Surface them before signing.

如果 Schedule B 里有任何条款”与 TARION Addendum 不一致” — Addendum 条款优先。律师函要点名指出，让 builder 书面确认。这是 buyer 最值钱的法律保护层 — 但只有签字前的 10 天里能用上。 If any Schedule B clause is “inconsistent with the TARION Addendum” — the Addendum prevails. Your lawyer letter must name the conflict and require written builder confirmation. This is the buyer’s most valuable legal protection — but only usable inside the 10-day window.

行业标准节奏（举例：$800,000 房价，25% 总 deposit）Industry-Standard Cadence (example: $800,000 unit, 25% total deposit)

数据出处：行业平均，按 BILD GTA 2024 builder survey + Urbanation 2024 pre-con report 汇总。 Sources: industry average per BILD GTA 2024 builder survey + Urbanation 2024 pre-con report.

Builder 破产时拿回 Deposit 的真实顺序Recovery Hierarchy When the Builder Becomes Insolvent

1. Trust 里的 deposit（最干净）：律师 trust account 受信托法保护，破产法庭不能拿来抵 builder 债务。100% 可回收。Deposit in trust (cleanest): the lawyer’s trust account is protected by trust law and not part of the builder’s bankruptcy estate. 100% recoverable.
2. Trust 已放出但有 Tarion / Excess Deposit Insurance：按保险条款分档 cap 兑付（freehold $60k、condo tiered up to $300k）。Trust released but Tarion / Excess Deposit Insurance applies: paid out per policy cap (freehold $60k; condo tiered up to $300k).
3. 超过保险 cap 的部分：变成 general unsecured claim，加入破产法庭排队，通常 12–36 个月后回收 10–40%。Amounts above insurance cap: general unsecured claim in bankruptcy. Typical recovery: 10–40% after 12–36 months.

实操结论：$60k 以下的 deposit（多数 freehold）破产风险接近零。Condo 大单位（deposit $200k+）超过 Tarion cap 的部分有真实损失风险。这就是为什么投资客盯 deposit cap 是否超 Tarion 边界。 Bottom line: deposits under $60k (most freehold) face near-zero insolvency risk. Larger condo deposits ($200k+) carry real loss risk above the Tarion cap. This is why investors track whether their deposit exceeds the insurance ceiling.