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Buying a condo, would you like to learn how to buy a condo? In this video I go through the condo buying process, and I show you how to buy a condo! I go through the 5 steps to take when buying a condo and the 9 mistakes I has seen buyers and realtors make over the years!

Click here for a copy of a free Step by Step guide to buying a condominium that I follow: [ Ссылка ]

Step 1 - Choose a Real Estate Agent that you can trust and that you know has experience with helping people buy condos! There are differences in the purchase contract between condos and houses!

Step 2 - Have a Mortgage Pre-Approval, not a pre-qualification! Make sure you have given your lender the paperwork necessary to start your pre-approval (T-4's, Notice of assessments, bank statements, letter of employment, etc).

Step 3 - Book showings with your Realtor! Make a list of the homes that you want to see that match what you are looking for. It is good to see anywhere between 3-8 at a time so you can compare sizes and value.

Step 4 - Writing an offer! When you've found the home you love your agent will help you prepare a legally binding contract that will include purchase price, amount of initial deposit, possession date, conditions and condition dates. Your Realtor should do a Comparative Market Analysis to find out what other similar homes have sold for!

Step 5 - Satisfy your conditions! Make sure financing is approved first but you can still read through all the condominium documents. Make sure you are comfortable with everything before spending money doing your home inspection! Also make sure your agent pulls the current title and all applicable registrations on title!

CONGRATULATIONS - IF EVERYTHING IS GOOD YOU CAN NOW REMOVE CONDITIONS AND PROCEED WITH THE PURCHASE OF YOUR NEW HOME!

HERE ARE 9 MISTAKES I HAVE WITNESSED IN MY 17 YEARS SELLING CONDOS!

Number 9 - NOT JOINING YOUR BOARD OR AT LEAST ATTENDING THE MONTHLY BOARD MEETINGS! This is your chance to have a say in how the complex is run and where your money will be spent, take 1 night a month for your financial future!

Number 8 - NOT HAVING PROPER INSURANCE! You need contents and liability insurance! If your sink, dishwasher or washing machine leak and cause water damage to the unit below you, you will be at fault and your insurance will be used to pay to fix the damages!

Number 7 - NOT READING THROUGH THE BYLAWS – among MANY other things this will tell you what restrictions the building has – like can you have a satellite dish on your balcony, are pets allowed and how many, are BBQ’s allowed or can you put your bike on your balcony? If you decide to rent a room or the entire condo is that allowed or are there restrictions?

Number 6 - NOT Checking out what the neighbours are like! Do they have loud pets? Do they have loud children? Is the unit above you constantly stomping around and making noise?

Number 5 - NOT KNOWING THE DIFFERENCE BETWEEN A TITLED PARKING STALL VS AN ASSIGNED STALL and not having it written properly on your purchase contract! If your agent doesn’t include it on the purchase contract you might not get it!

Number 4 - NOT PURCHASING IN A BUILDING OR COMPLEX THAT IS SUITABLE FOR YOU!! Spend time researching where you want and need to live for the next 3-5-10 years!

Number 3 - NOT DOING A HOME INSPECTION!! One of the biggest hidden issues is with condos with Polybutylene water lines! They can develop cracks and leak behind walls or in ceilings!

Number 2 - NOT THINKING ABOUT RESALEABILITY OF WHAT YOU ARE BUYING! Don't get swept away with staged furniture or granite counters, think layout and functionality of the home, it is easy to make cosmetic changes afterwards.

Number 1 - NOT USING A REAL ESTATE AGENT! Why do it all by yourself? You don't pay a real estate agent to help you buy a home so use their expertise and experience to help show you things that you might not even have thought of. I have helped more than 900 families buy and sell homes in the 17 years here in Edmonton.

Find out what some of my past clients had to say about me at [ Ссылка ]

If you are looking for my office info:
RE/MAX Select Real Estate
102, 12650 – 151 Avenue
Edmonton, AB T5X 0A1

O: 780-457-3777
M: 780-915-2056

I am a full time Realtor® in Edmonton, Alberta CANADA with RE/MAX Select and have been selling homes to nice people since 2002.

HERE'S WHERE TO FIND ME:
B L O G ➳ [ Ссылка ]
F A C E B O O K ➳ [ Ссылка ]
T W I T T E R ➳ [ Ссылка ]
L I N K E D I N ➳ [ Ссылка ]
I N S T A G R A M ➳ [ Ссылка ]

If you want to talk to me about Edmonton Real Estate feel free to email me at pfields@outlook.com or call 780-915-2056.
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