Aviva Canada has invested in OneClose Inc., a technology firm providing solutions to alleviate Interim Occupancy Fees for newly built condominium purchasers in Ontario.
Information on the Target
Aviva Canada has made a strategic investment in OneClose Inc., a pioneering technology company that offers an innovative financial solution to assist owners of newly constructed condominiums in reducing considerable interim fees.
In the province of Ontario, consumers purchasing a newly built condo must navigate an Interim Occupancy Period. During this time, they are unable to secure a mortgage and are required to pay Interim Occupancy Fees to the builder. These fees encompass the interest on the outstanding balance of the condo unit, property taxes, and maintenance costs, which can accumulate to thousands of dollars without contributing to mortgage payments, creating a scenario similar to renting a property one actually owns.
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Industry Overview in Ontario
The real estate market in Ontario, and particularly in urban areas such as Toronto, has faced significant challenges in recent years, exacerbated by high inflation rates and fluctua
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Aviva Canada
invested in
OneClose Inc.
in 2023
in a Other VC deal