The Condo Purchase Process
If you have never owned a home or condo before, the purchase process can seem very overwhelming. But don't worry, these steps will guide you through the buying process and before you know it you will be the proud new owner of a condo.
- Check your credit rating and clean up your credit. Buying a condo or house requires you finances to be in order. Nothing is worse than finding the condo of your dreams only to have your mortgage application fall through.
- Learn about the different mortgage types and decide how much you can afford to spend on your condo. Decide on a price that you are comfortable with and stick to is so you won't be overextended after you close your condo.
- Educate yourself on what the market is currently doing so you can have the upper hand during the negotiation process.
- Decide where you want to live. Choose a neighborhood and condo project that fit your lifestyle in a location that is convenient for you.
- Make sure to use a condo expert to represent you in your purchase process. Condos are generally sold by first time home sellers and our condo experts know how to structure your offer and make a case for a property that is most likely overpriced. We know the communities and can help you match a community with your lifestyle and budget.
- Find your condo unit.
- Write a purchase offer.
- Negotiate the counter offers.
- Have the condo inspected. This could be the best $400 dollars you ever spent.
- Get your loan approved by your loan officer.
- Complete your 17 day inspection period investigations.
- Sign off your contingencies.
- Close on your condo unit.
- Enjoy the lifestyle and convenience in the comfort of your new condo.
