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BUYING

Searching for a new condo may seem a bit overwhelming at first. Knowledge of what to expect, understanding the process and terminology and learning about the present real estate market will be extremely important in helping you find that one perfect condominium.

The first and most important step in the buying process is to talk about you really want, about what is feasable and what is best for you. This way, when we find that one perfect condo you'll be able to confidently submit a serious offer before the competition!

I will navigate you through and point out the pros and cons of each of the condominium complexes you're interested in. I'll show you as many properties as you'll need to see in order to help you make an informed purchasing decision. Once your offer has been accepted you'll need help from certain professionals. As part of my business infrastructure I've recognized the value of working with talented partners and organizations to ensure the smoothest buying process possible. When the time is right I'll refer you to the same professionals I've been working with for years such as lawyers, mortgage companies, home inspectors, rental agents, etc.

If you are interested in buying a condo now or in the near future please contact me today to discuss your situation. The process can start with a few simple emails!

Questions for the first time condo Buyer

What are the advantages of hiring a Condo Realtor?

Most real estate agents are not specialists. Keeping up-to-date on changing patterns of all aspects of the real estate market including commercial, multifamily, leasing, single-family, condominium, industrial, business, farm, rural, new developments, apartments, co-operatives, etc., is a difficult task, and rarely achieved. I on the other hand, focus on condominium properties and follow the real estate market extremely close in this sector, watching for trends and opportunities over a concentrated region. Buying a condominium is a more detailed process than purchasing a single-family detached home... you are not just purchasing one unit, you are becoming part of a condominium corporation.

Should I be preapproved for a mortgage before I start looking for a condo?

If you have to borrow any portion of the money needed for the purchase of a property than yes, the first step is to obtain a mortgage pre-approval. A pre-approved mortgage can be arranged quickly, over the telephone at no expense to you. Contact me for a list of recommended mortgage brokers.

What type of questions will a mortgage broker or banker ask?

When applying for a mortgage be prepared to supply the following; proof of down payment, letter from your employer verifying employment dates, proof of income - may be a letter from your employer or recent pay stubs, RRSP statements, bank account statements, a statement of net worth and the previous years income tax returns and/or notice of assessments. As well, a thorough broker/banker will review your credit bureau, so it's in your best interest to clean up any prior financial issues that may negatively effect your overall credit rating.

When do I need to hire a lawyer?

Once you have committed to working with one Realtor ask that person to refer three of the most trusted real estate Lawyers they work with. Contact those lawyers and choose one, basing your decision on price alone will prove to be foolish. Question how long they've been practicing real estate law, whether or not they're familiar with the local condominium buildings, will they order and review the condominium corporation documents, their hours of business and will you be in dealing with them or their admin staff.

Why Buy a Condo

What is a Status Certificate

What is a Reserve Fund Study

Buying in London, ON