What is Zyngly?
Good question – basically Zyngly is the fastest way to reserve a pre-construction condo. Zyngly is the go-to platform for pre-construction condos where buyers can search, select, customize, and reserve a condominium by using their credit card on their smart phones. Try it, you won’t be disappointed.
Is Zyngly a Brokerage?
Yes, Zyngly is a digital and fully licensed brokerage. Members of its sales team are regulated under the Real Estate Business and Brokers Act, 2002 under RECO.
What are the benefits of using the Zyngly’s platform?
- It’s your one stop-shop for pre-construction purchasing experience
- Completely mobile with the convenience of a sales centre and a hands-on realtor
- It’s free to use
- Personalized incentives
Booking through an app sounds great, but I still want to speak with someone, can I call an agent to walk me through the booking process?
Of course, you can. We’re not bots! We understand that some people still require that additional comfort. If you want to speak with someone from our team to guide you, call us at 647-488-4563 to ask a question. Try us, we’re super nice!
How can I trust that the condo I’m reserving will be the exact one I booked?
We only provide access to units which are exclusively allocated to us. Hence, once you sign and pay a deposit on a particular unit, it is yours.
I booked a unit. How do I deposit the rest of my cheques to the developer?
Zyngly will arrange a courier service to pick them up from you and drop them off directly to the developer.
How safe is Zyngly?
Ridiculously safe. All of your personal information is kept confidential. We use the highest level of cloud protocol to ensure that all user data is secure and encrypted.
How can I add a third name to the Agreement?
Contact our sales team to amend the Agreement of Purchase and Sale within the 10-day cooling period.
Is there a credit card processing fee or cancellation fee?
No, Zyngly does not charge you a credit card processing or cancellation fee.
Can I reserve multiple units?
You should know that there are certain developers who don’t allow selling multiple units to a single buyer. However, each developer is different and is open to negotiation. Due to increasingly stricter lending rules, many developers only allow one purchase to purchase one suite with a typical deposit structure (for example, 20% down for a local purchaser). Additional requests for more suites may require a larger down payment.
Do I need a lawyer to facilitate this transaction?
No, you don’t need a lawyer to reserve a unit on our platform. However, it is always recommended to have a lawyer review the Agreement of Purchase and Sale during the 10-day cooling period. If you need help locating a lawyer, we’ll happily refer one.
Can I cancel my unit after booking?
Of course. Based on Ontario’s condominium legislation, those who buy a pre-construction condo directly from a developer are granted a 10-day cooling period. During this time, you can cancel your sales agreement for any reason and essentially walk away from a deal. Please note that if you choose to leverage the cooling-off period, you must advise the developer in writing. However, after those 10 days, the cooling-off period no longer applies and you’re bound by the Agreement of Purchase and Sale.
Do I need to arrange a mortgage before booking?
This depends on the developer. Some developers will require that you provide a mortgage commitment letter from a reputable financial institution.
Can I buy through a corporation?
Yes, as long as all supporting documents are provided.
What if the developer raises the price after I book the unit?
Once you sign the unit with Zyngly, the developer will honor that price.
Can I negotiate the price?
No, all prices are fixed and non-negotiable.
What is the best time to buy?
Your guess is as good as ours. With rapid growth in population, prices are increasing every day and demand is at an all-time high. But with Zyngly, we make sure to get you the best prices and unit selection. People buying in later stages of a launch will likely experience higher prices with less incentives.
Who is Zyngly’s Broker of Record?
Our Broker of Record is our co-founder, Ajay Minhas who can reached at ajay@zyngly.com.