7 Tips to Consider When Purchasing a Condo

Today, we share with you those tips that may be overlooked when purchasing a condo. These are important for you to consider as they can help you determine which place will meet your desired needs.

1. Parking Stall Assignment

Strata unit contracts may specify that you are purchasing parking stall(s), storage locker(s) or bike storage with your property. If you are buying a strata unit, please note when reading your contract,  that if the parking stall is designated as common property, the strata board has the authority to reallocate the parking stall number and location. It is strongly recommended to have your solicitor request confirmation of the seller’s right to transfer the parking stall(s), storage locker(s) or bike storage to you from the seller’s lawyer.

2. Recently Done Work

It’s important to make sure that the appropriate steps have been taken to ensure that no Builders’ Lien will be filed when the condo has had recent work done, such as alterations or repairs.

3. Property is Appropriately Zoned

It’s important to check that the property is not the subject of anticipated expropriation, municipal or other work orders – this information can be obtained through the Municipality of the property. For any particular use you want to may wish to make of it, be sure the property is appropriately zoned.

4. Satisfactory Agreements

To ensure these agreements have been made for delivery for actual possession of the Property, particularly if there are presently any tenants in occupation. Arrange with your Realtor for the delivery of the keys on your possession date.

5. Hook-Up Utility Services

Don’t forget to arrange for your internet, cable, hydro and any other services that you require to be hooked up.

6. Satisfactory Insurance

Be sure to arrange satisfactory insurance when purchasing.

7. Final Inspection

Ensure that all final inspections and occupancy permits have been issued, completed, and acceptable to you.

If you have questions regarding the above, please give us a call at 604-588-4466 or email us at info@brokersmart.ca