For those looking to purchase a home, a condo may sound like a great investment and starter home. With the number of new condo development projects growing in recent years, the thought of having a brand new condo is appealing for some people. However, just like most everything else in life, there are pros and…
Hardwood or Laminate Floors Throughout Although often overlooked, the flooring in a unit leaves a long and lasting impression on a prospective buyer or renter. Most builders offer hardwood or laminate as a standard feature for the living areas but provide carpet in all bedrooms. Real estate professionals recommend the original buyer upgrade the carpet…
What is an assignment sale? An assignment of an agreement of purchase and sale is when the original purchaser of a condominium/house assigns or sells his contract (agreement of purchase and sale) with the builder to a new purchaser. Once the unit is assigned, the new purchaser becomes responsible for completing the transaction with the…
Buying a condo unit during the preconstruction phase might seem to be a straightforward proposition. Future unit is bought from the architectural drawings at the developer’s sales site. However, in real life, buying a unit before it’s constructed may work out to be anything but straightforward. Developers often redesign the layout of units as they…
In Ontario, The Condominium Act provides purchasers with a protection known as the “Ten Day Cooling Period”. This act is only applicable for new condo sales straight from the builder and does not apply to re-sale transactions. In essence the Ontario Condominium Act puts some obligation on the builders to act in good-faith. On purchasing a…
Buying a re-sale condo can be a simple process should you have the right agent. The first step in the process is to get a mortgage approval from your bank. This will help pre-qualify you and determine your price range. The bank will tell you how much you have to put down as a “down…
Those living abroad and considering investing in the Mississauga Square One Area are often surprised to find out there are no restrictions or limits on the amount of property they can buy in Canada. The process is actually pretty simple. Local lenders such as chartered banks and credit unions will usually finance the purchase subject…
In every condo transaction there are closing costs. These costs can’t be avoided and your lawyer will adjust them on the date of the closing. The lawyer will go through all your expenses before the transaction and give you a detailed packaged on the closing date. The general closing costs are as follows: …
What Will I do for you? As your agent I will provide you a variety of services. I will start by listening to your needs and figure out exactly what you’re looking for. Next, I will take you on a guided tour of the area and give you an idea of where all restaurants, buildings,…
Buyers may prefer to buy preconstruction condos for a variety of different reasons. As of late, it has become a popular vehicle used by investors to capitalize on the condo boom. In a pre-construction transaction the buyer is generally required to put down a 20% deposit of the purchase price. Historically, investors have preferred this…