Pre-Sale Buying Process

1. Meet with a Mortgage Provider & determine your budget

While you’ll likely need pre-approval if you’re buying a presale condo, you won’t need to secure or start paying a mortgage until your property is fully built, with your mortgage loan payments beginning upon final closing.

2. Home search

Using a buyers agent or websites like Realtor.ca, search for the pre-sale condo that’s right for you.

3. Connect with the sales team

Connect with the sales team to get all the latest information about the pre-sale.

4. Submit an offer

Once you have reviewed the information and selected your desired unit, you will submit an offer to the seller. 

5. Receive an accepted offer.

Now that you have an accepted offer, the 7-day rescission period begins. During this time you can walk away from the contract without any penalty. Once the rescission period is up, you must close on the purchase or risk losing the deposit.

6. Deposit paid and Subjects Removed.

You must submit a deposit pof 10% of the sale price within 48 hours of the 7-day rescission period. 

7. 3 month warning to closing

Because the condos are under construction, you will not know exactly when completion and possession will occur until the 3-month warning to closing.

8. Deficiency walk-through

This is where you will get to see your condo for the first time. You’ll walk-through and mark all the deficiencies. The builders will come through again to correct all the marked deficiencies.  

9. Lawyer meeting

Meet with your legal council to sign all purchase documents.

10. Key delivery/move in

The day is finally here! Collect the keys and take possession of your new condo. The developer will release a move-in schedule with each buyer's move-in time.

If you’re interested in purchasing a pre-sale condo or if you just have some more questions about the pre-sale buying process, please reach out to us. We are ready to help!

Looking to buy an investment property this year? Here's what to look for: ⁣

Attractive location

 "Location, Location, Location" it really is that important: schools, neighborhood amenities, shopping, businesses, and public transit are all features that'll boost your property's appeal.⁣

Property Features 

Even though you may not be planning to live in this property, someone will be! Think about features like a garage, additional bathrooms, home office space. The layout and design of the property make a difference too. Is it designed with practical everyday living in mind? Does it have natural light? These are all things tenants are often looking for, so you should too, before you buy.

Numbers that work 

Don't forget you're covering more than just the mortgage. Make sure to factor operating costs, property taxes, strata fees (if applicable) into your equation, and account for times when your property will be vacant.⁣

Contact us today to learn more! 

We are seeing a shift to a more balanced market. We are seeing that conditional offers are coming back, and negotiations between seller and buyer, which gives buyers a more equal opportunity to secure the home they want. 

If you’re ready to stop paying your landlord’s mortgage payments and begin building your own equity, reach out to us so we can help you on your journey to home ownership.

Renting has its perks, but nothing compares to owning your own home. If you’re ready to leave renting behind, follow these 7 steps:

1. Know your why:

Are you outgrowing your space or are you tired of throwing money away? Before you start looking, make sure you’re committed to your why. 

2. Determine your budget and timeline:

You need to know how much you can spend. The best way to do that? Talk to a lender! They’ll take a look at your financial situation and help you understand your timeline.

3. Tackle your credit score:

If you’re not quite into “good” credit territory, don’t panic! Work on decreasing your credit card debt and making payments on time while you save up.

4. Decide what you need and want in a home:

This is the fun bit. But it can be HARD. You need to be clear on the difference between your need-to-haves and your nice-to-haves when it comes to home features.

5. Get pre-approved:

First, find a lender you like. Most agents have tried-and-true lenders, so they can be a great place to start! Your lender will look at your finances, tell you how much you can afford, and give you the pre-approved stamp of approval.

6. Find an agent:

Once you’re pre-approved and know exactly what you’re looking for, it’s time to bring in an agent. Your agent will be your real estate BFF.

7. Familiarize yourself with your agent's search tools:

Your agent has access to loads of tools to make your life easier! Use their MLS search tools and their resources to find listings you love.

If you’re ready to stop renting and start owning, Contact us to get started on your home ownership journey.

Not only can going green save on monthly energy costs, it can ultimately help a home stand out when the time comes to sell.

With a variety of products available on the market, it can be difficult to know which features are worth the investment before listing a home for sale or after buying a home.

Smart home technology can have a big impact on a homeowner’s carbon footprint, but it probably won’t increase the property value. Smart thermostats and lights are relatively low in price, starting at just a few hundred dollars, and can save money and energy by automatically adjusting features like temperature and lights when not in use.

Whether or not energy-saving upgrades move the needle on a home’s price ultimately comes down to how the property is marketed. An agent can help you really highlight the changes so buyers can see the value of what you’ve done to your home. Even in more competitive markets, green features can help a property stand out.

There’s really minimal downside to making your home green. It’s great for your wallet and great for the environment. And you can feel socially responsible about the way that you’re living.

If you have questions about which smart-home features may be best for you and the environment, feel free to connect with us. We’d love to hear from you.