Freehold Property

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Real Estate Buying Process Guide

Freehold Property - Condominium

For Buyers

Steps in the Real Estate Purchase Process

Establish your budget and secure a mortgage pre-approval.
Identify your desired location, property type, and key features.
Engage a licensed real estate agent to assist with your search.
Begin viewing properties and attend open houses.
Submit an offer to purchase through an Agreement of Purchase and Sale.
Provide a deposit, which will be held in the brokerage’s trust account.
Arrange a home inspection (optional but highly recommended).
Satisfy all purchase conditions (such as financing, inspection, or status certificate for condos).
Have your lawyer review the agreement and complete a title search.
Obtain property insurance and finalize your mortgage approval.
On closing day, pay the remaining balance and collect your keys.

Self-Check

Questionnaire

✔ Do I know my maximum purchase limit and monthly affordability?

✔ Have I been pre-approved for a mortgage?

✔ Do I understand the land transfer tax and closing costs involved?

✔ Am I prepared to provide a deposit (typically 5%)?

✔ Have I considered the property’s potential resale value?

Condominium

Steps in the Real Estate Purchase Process

1. Get mortgage pre-approval.

2. Decide on location, type of condo (apartment/stacked/townhouse).

3. Hire a licensed real estate agent.

4. View condo units and compare amenities/fees.

5. Make an offer to purchase with deposit.

6. Review the Status Certificate (financial health of condo corporation).

7. Fulfill financing and inspection conditions.

8. Lawyer conducts review and title search.

9. Arrange condo insurance and finalize mortgage approval.

10. Closing day: Lawyer transfers funds and you receive keys.

Self-Check

Questionnaire

✔ Do I know my mortgage limits and monthly budget?

✔ Am I aware of monthly maintenance (condo) fees?

✔ Did I or my lawyer review the Status Certificate?

✔ Do I understand condo rules and restrictions?

✔ Do I know additional costs (parking, locker, utilities)?

GET IN TOUCH

Have a question or need assistance? Reach out to me and I'll get back to you as soon as possible.

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