Faq’s | Upper Vista Innisfail

Frequently Asked Questions

Find answers to frequently asked questions about pre-construction properties in Alberta, including GST/HST taxes, financing, customization options, contract signing, and the need for a lawyer.

Learn about our free assignments of pre-construction contracts, the absence of land transfer tax in Alberta, and the details of our phase one development (including 101 freehold townhomes).

Are there any specific incentives for investing in your pre-construction project?

Yes, we offer a 6% Rental Guarantee for 2 Years, FREE assignment is available to all purchasers, Short-Term Rentals are Allowed, there is No Foreign Buyer Tax, and we have Lower Closing Costs.

What are the deposit requirements and structure?

We have an EXTENDED DEPOSIT STRUCTURE:

$10,000 On Signing
Balance to 5% in 30 Days
5% in 180 Days
5% in 365 Days
5% in 450 Days

2.5% in 540 Days

I want to purchase a unit, what are the next steps?

If you are interested, please fill out a worksheet to secure your unit.

How is the deposit paid?

You can deliver the deposit via cheque drop off at head office (3100 Steeles Ave. E, Suite #302, Markham, ON). You may also express deliver the cheques if you cannot commute to the office in person. Alternatively, upon request, wire transfer or direct deposit can be accommodated.

Are short term rentals permitted?

Yes, there are no restrictions regarding short-term rentals such as AirBnB or VRBO.

What happens if the construction is delayed?

As there are many moving parts in any new development project, sometimes this results in delays to the final delivery date. Although none are expected, in the event that there is a delay, Evertrust Developments will notify you at the earliest.

Do I need to pay GST/HST on pre-construction property in Alberta?

In Alberta, only the federal GST of 5% is applicable, while in Ontario, buyers need to pay both GST and PST, which is combined as HST at a rate of 13%.

Can I sell my pre-construction contract before the property is finished (assign the contract)?

This is commonly referred to as an assignment sale. Evertrust Developments allows for free assignments to all pre-construction purchases.

How does financing work for pre-construction properties?

Most banks and lenders will provide a mortgage commitment for a pre-construction property, but the actual mortgage loan isn’t given until the property is complete.

Can I customize the layout or finishes in my unit?

After signing your Agreement of Purchase and Sale, you will then proceed through the Decor Process with the Evertrust Developments interior designers. This typically will be done in the coming months after your deal becomes firm. You will have the opportunity to select optional floor plan layouts, decor colour schemes and material options.

How is the Contract Signed?

Upon securing your unit and upon receiving the bank draft, Evertrust Developments will send a digital copy of the Agreement of Purchase and Sale to your email address provided in your worksheet. All purchasers will have a maximum of 24 hours to sign the agreement once it has been sent. Failure to fully execute the agreement within the 24-hour window, may result in an automatic expiration of the contract.

Do I need a lawyer in Alberta to buy a property in Alberta?

Yes, to do land title registration, the lawyer who processes the closing documents needs to be licensed in Alberta. If you do not currently have a lawyer, your realtor will be able to recommend one.

A Community Designed for Living

At Upper Vista Innisfail, we’re creating more than just homes. We’re building a community where people can live, play, and invest. A place where you can enjoy the beauty of nature, the thrill of adventure, and the security of a sound investment.

Our residences feature beautifully appointed interiors, high-quality flooring, in-suite technology, and energy-efficient features. The kitchens feature contemporary cabinetry, polished quartz countertops, and full-height tile backsplashes. The bathrooms feature polished quartz countertops and modern square edge tubs with upgraded contemporary tiles.

Join Us

Join us as we create a community that’s designed for living and built for life. Register today to receive updates on our ongoing and upcoming projects and events. Welcome to Upper Vista Innisfail. Welcome to your new home.