Condo Buying Process

There are many downtown Calgary condos for sale—find the perfect one for you!

Are you thinking about buying your next home or your first condo? Congratulations! You’re on the right track! As a trusted Calgary REALTOR®, I’m here to make sure that your condo buying experience will be a good one.

Now, where do you begin? The first step in the condo buying process is to sit down with a mortgage broker or mortgage specialist to discuss your financial situation. The mortgage broker will determine what you can qualify for and will have lenders bid on your business so you can get the best rate. A mortgage specialist, on the other hand, works with a lending institution. This specialist can also determine how much you qualify for, except that your options are limited to what lender the specialist is working for offers.

Once you know how much you qualify for, do a quick online search for downtown Calgary condos for sale. Although property

owners will usually have photos of the units online, it is best that you visit the building itself to get a better feel of the space and the layout.

This is also a good time to start interviewing licensed real estate agents. Don’t just settle for just about anyone! You need to find an agent who you are comfortable with. A good Calgary Realtor® will discuss your needs and wants with you as well as make sure that you agree on the best terms possible for your transaction.

Are you ready to buy your downtown Calgary condo? You can download my free Condo Checklist here to help you decide which condo to buy. Once you find the condo for you, review the condo documents with a condo document evaluator. These documents include the bylaws, past minutes from the board meetings and other documents that will indicate if there are any restrictions for the home owners. You should also have the documents that will show you if the reserve fund is adequate, the finances are healthy and if there are any upcoming increases in condo contributions.

By this time, you should consider hiring the services of a lawyer who specializes in real estate. Your lawyer can help you take care of all the loose ends on possession day and ensure your money is transferred to the condo owner and your name will be on the title once the key is turned over to you.

Congratulations! You’re now a new condo owner. Note, however, that not all real estate experiences run as smoothly as this, so you really need a reliable Calgary Realtor® to advise you throughout the process.

If you have a question or would like my advice, please don’t hesitate to drop me a line at 403.400.5541.