What You Need to Know Before Purchasing Preconstruction Condos in Mississauga
After conducting your own research, talking to friends and family members, and setting aside money for a down payment, you decide you want to invest in a preconstruction condominium in the Square One area in Mississauga. Since you already spent time researching and gathering your own information, you might be tempted to visit a condominium sales centre as your next step.
However, this would be the wrong move to make for a couple of reasons. First, while it might seem like visiting a sales centre is the logical thing to do, it can actually hurt you later and set into motion a chain of events that work against you in the long run.
Rather, anytime you are shopping for real estate near Square One, whether it is a preconstruction condo or one that is already built, you will want to retain the services of an experienced real estate agent in Mississauga, who specializes in preconstruction and re-sale condos.
You might be wondering why you would need a realtor to visit a condominium sales centre. Here’s why – One of the biggest mistakes you can make, when you visit a sales centre without a relator, is being pressured into providing the sales person with your personal information.
The moment you walk in that door by yourself, you are literally jumped on by one or more sales associates all looking to provide you with details, information, prices, flyers, and so on. During the course of events, you are put at ease and made comfortable.
This is when the sales person takes advantage and talks you into giving them, at a minimum, your name and phone number or possibly email address. Now, you have just provided the builder with enough information for them to have a legal claim, and say you are now one of their customers.
As a result, this prevents you from using a real estate agent as your representative should you decide to return to that sales centre and want to purchase a preconstruction condo from that builder. In addition, you miss out on several advantages gained by relying upon an experienced Square One Mississauga realtor.
What Are the Advantages Gained by Using a Real Estate Agent to Purchase Preconstruction Condos in Mississauga?
First, realtors, who specialize in condominiums have access to special VIP sales events held through various builders. To attend these events, you need a realtor with the right connections. It is during these events builders tend to sell out of their most popular floor plans long before they have even made them available to the general public or through their sales centre.
Next, builders and their sales people are not obligated to work in your best interests. While they might seem friendly and inviting, keep in mind, many of these sales people are not even licensed realtors. Rather, the builder sends them to a few real estate sales training classes and then puts them to work selling their preconstruction units. With a licensed real estate agent in Square One Mississauga, the realtor is required by law to always work in your best interests. This is a great advantage, since it establishes a client-realtor relationship that is legally binding.
Your real estate agent will provide you with real and sound advice, which goes along with the legally binding client-realtor relationship. Since your realtor is working in your best interests, and already has a vast knowledge and experience with preconstruction condominiums, their advice is invaluable.
They know which projects are on schedule, those that are running behind, builders to avoid, the best floor plans and finishes to suit your needs, and more. When it comes time to draw up presales contracts and take care of other paperwork required to purchase the condo, your Mississauga real estate agent will be there to ensure contracts are written to protect your interests, help you select a real estate lawyer, and more.
Next, condo builders and their sales people can easily mislead you. For instance, did you know you are not responsible to pay for the real estate fees? With preconstruction condo sales, the builder is ALWAYS responsible to pay these fees.
However, some people are misled and think if they visit a sales centre on their own, they can get the builder to discount these fees, as well as negotiate on the commission. Builders rarely, if ever enter into such negotiations with a direct buyer, let alone offer any discounts since a real estate agent is not being used.
Lastly, one of the best advantages you gain, by using an experienced realtor in Square One Mississauga to shop for and purchase preconstruction condos, is an extensive list of free services from helping you find the right condos for sale to going with you to visit sales centres, and more.
If you are considering to purchase a preconstruction condo in the Square One area or elsewhere in the GTA, make sure you retain the services of a realtor, who specializes in condominiums, like Shawn Gandhi. I am a licensed real estate agent, who is loyal to every one of my clients. I always go the extra mile, and am truly committed to each person I help.
I will personally hand deliver contracts, negotiate with builders on your behalf, and even advise with lawyers, to ensure your needs are fully met and you get the best deal possible. I have built an outstanding reputation in the area, not only with buyers and sellers, but also builders, tradespeople, lawyers, and security and concierges in every condo community in Square One and Mississauga. For more information about preconstruction condos or to schedule a consultation appointment with Shawn Gandhi, call me at 905-795-1900 today!