Buyers: Finding an Ottawa Condo to Call Home
Is this your first time buying a condo and becoming a home-owner? If so, you probably have a lot of questions. Let's walk through the home buying process, step by step:
9 Easy Steps to Buying a Condo
STEP 1 - Arrange a Mortgage:
- To save you time and maybe even money, arrange a mortgage before you start shopping for a home. Learn about mortgages and the advantages of getting a pre-approved one by letting us introduce you to one of the highly-qualified mortgage lenders that we regularly do business with.
STEP 2 - Extra Costs:
- In addition to arranging a mortgage it is important to understand the extra costs associated with becoming a homeowner. These may include (but are not limited to) legal fees, GST, disbursements, land transfer tax, insurance costs, realty taxes, common expense fees and moving costs.
STEP 3– Identify Your Housing Needs:
- Now that you know what you can afford, identify and prioritize the features you want in your new home. Once you’ve created your list, don’t forget to register for our Buyer’s Instant Notification System, where you can be notified as much as 24 hours in advance of all new listings that meet you personal criteria.
STEP 4 - Find A Realtor You Can Trust:
- Choose an experienced realtor that you can trust with your Ottawa area real estate needs and who represents your best interests.
STEP 5 - View Condos:
- Focus on viewing condos in the Ottawa area that meet your criteria (price, location and features). This will save you time and energy. The Renaud Otten Team's Buyer Representatives are available to help you find your dream home, usually with a minimum of 24 hours notice. Ensure you provide us with your criteria so we can be as effective as possible.
STEP 6 - Make an Offer:
- When you find your dream home, you should present a competitive offer immediately. Your Buyer Sales Representative has contract and negotiation experience and will work with you in developing an offer price based on recent sales of similar homes in the same neighbourhood.
STEP 7- Conditional agreement:
- When an offer is made it is usually made with conditions (ranging from conducting a final inspection to financing) and is known as a conditional offer. Common conditions may include, but are not limited to, financing, tenancies, review of status certificate and property inspection.
STEP 8 – Home inspection:
- A step that most home buyers take is to have their new home inspected by a professional Home Inspector. Learn more about home inspections and why you should get one by allowing us to introduce you to one of the qualified, professional home inspectors that we regularly do business with.
STEP 9 - The Final Step to a Successful Closing:
- Your lawyer will now prepare the closing documents. Congratulations! Now that the condition(s) of sale have been met, the property is considered sold FIRM.
For more information, contact Ray Otten, Broker, by phone at 613-623-0090, at RE/MAX metro city realty ltd., Brokerage, independently owned and operated.