Pre-construction condo deposits in Ontario are paid on the dates in your agreement. Builders can offer different installments, so turn the schedule into a dated cash plan before signing.

Information checked November 11, 2026.

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An illustrative $800,000 schedule

A sample builder could ask for $10,000 on signing, another $30,000 at 30 days, $40,000 at 120 days and $40,000 at 365 days. That totals $120,000, or 15% of price. Another $40,000 at interim occupancy would bring the example to $160,000, or 20%. These terms are illustrative and are not a standard schedule.

Write the actual due dates on a calendar. Confirm whether your first cheque counts toward the next installment and who is supposed to receive each payment.

Separate deposits from future charges

Save separately for occupancy fees, adjustments and closing costs. Ask your lender when it will assess the final mortgage and how a lower appraisal could affect cash required. A project with a longer schedule can expose you to changes in employment, financing and market value.

Understand where the money is held

Ontario condo deposit trust rules and Tarion protections are distinct. Ask your lawyer to confirm the named trustee, receipts, applicable protections and what happens if the agreement is cancelled. Check deposit requirements alongside the cooling-off period and delay and cancellation provisions.

Build a deposit calendar from the builder’s contract

Suppose an $800,000 new condo calls for an initial $15,000, another $25,000 after thirty days, and later installments tied to dates or milestones. The buyer enters each line and marks whether the initial payment is credited toward the stated percentage. She also schedules the expected legal review, decides which funds are already accessible and confirms the named holder with her lawyer. The numbers are an example, not a suggested builder schedule.

Keep a different calendar for costs that do not reduce the price, such as interim occupancy and other closing expenses. A manageable installment plan can still leave a substantial cash requirement when the property closes.

A practical decision checklist

Translate percentages into actual dollars

Read every installment, including any signing amount. Confirm what counts toward the cumulative deposit. A short note is enough if it records what you checked, who can confirm it and when you need the answer. Carry that note into your next conversation rather than relying on memory.

Counting the signing cheque twice overstates the schedule. Ask the builder for an itemized cumulative total. Use the result to choose one practical next step and a fallback if the answer is delayed.

Find the dates and triggering events

Check calendar dates and milestones separately. Ask how the developer provides notice of a triggered payment. Take the unresolved difference to the person who can verify the terms.

A payment may be due even if the overall move date changes. Give the calendar to your lawyer to confirm the actual terms. Test the conclusion against a second piece of evidence when one is available. A single estimate can be useful, but a different date, service or starting figure can explain an apparent discrepancy.

Identify the trust holder and receipts

Use the agreement to identify who receives each payment. Obtain a receipt and keep it with the agreement. Keep the estimate and the confirmed answer in separate columns. An estimate helps you set a range; a confirmed answer gives you something you can use to make the next commitment.

Deposit trust arrangements and warranty protections are distinct. Ask the lawyer to explain which protection applies and how to document it. Give yourself time to get an updated answer before accepting a deadline or giving up another choice.

Budget for an occupancy payment separately

Check for an additional deposit at occupancy. Separate it from recurring interim occupancy fees. If you cannot confirm it in time, check the alternatives while they are still available.

The two payments can be due around the same time. Ask for a statement showing what is credited and what is a cost. Review this before making the commitment it affects. When someone else has to supply a document or complete a check, ask how long that work normally takes and allow for a delay.

Check financing when the project closes

The final mortgage application can be much later than signing. Ask the lender how future appraisal and documentation may affect funds. Put the source and the date next to the result. This makes it possible to tell whether a later change came from new evidence or from a change in your own assumptions.

A lower appraisal or income change could increase your cash requirement. Keep a reserve and rerun financing when dates become clearer. Write down the decision you can make now and the one that still needs an answer.

Know the timing of contract review and changes

Send the agreement, disclosures and addendum to your lawyer. Check the cooling-off period and any written cancellation terms. Check the outcome under a modest change before you decide how much room to leave.

A revised schedule should be documented, not assumed from a sales conversation. Replace the old dates in your calendar once an amendment is confirmed. Identify which part of your plan depends on this information. It is easier to decide what to verify first when you know whether it affects the price, the timetable, or your ability to proceed.

Follow-up questions

Are all builder deposits the same percentage?

No. The agreement sets the schedule and amounts. Compare cumulative cash due by each date rather than the largest or smallest advertised installment. Have the lawyer check changes, protections and what happens if payment is late.

Can I finance the builder deposits with my final mortgage?

The mortgage for closing generally advances later than earlier installment dates. Ask your lender about your actual arrangements and have accessible sources for deposits when the agreement requires them. A later advance does not solve an earlier deadline on its own.

Keep a running balance of deposit paid, deposit left and other costs still expected. Check the written agreement and receipts before relying on any total.