8 Steps for Purchasing a Condominium Unit


Once you have decided to use L&H to purchase your condominium unit please send us the following information, in order that we can complete your purchase as seamlessly as possible:

STEP 1

  • Have your real estate agent fax or email us the Agreement of Purchase and Sale.
  • Have your real estate agent provide us with the Condominium Status Certificate and Condominium documentation as soon as reasonably possible.

STEP 2

  • Send us an email or give us a phone call and provide us with the following:
    • The full name(s) of each individual that will be going on title to the property;
    • The date of birth of each individual that will be going on title to the property;
    • The phone number and email address of each individual that will be going on title to the property;
    • The marital status and/or relation to each individual that will be going on title;
    • Whether or not each individual that is going on title is a first time home buyer (meaning that they have never purchased a property anywhere in the world before) or not;
    • Copies of two (2) pieces of valid identification (both front and back) for each individual that will be going on title. Please note that health cards are not accepted. The first piece of ID must be a photo ID (example: Drivers licence or Passport) and the second piece of ID can be a credit card or SIN card;
    • A copy of a “VOID” cheque from the account that you are planning to use to pay your mortgage (if applicable);
    • If you are purchasing a new home please provide our office with the TARION New Home Warranty Certificate.

STEP 3

  • If you are getting a mortgage, please contact your mortgage broker or lending institution and provide them with our Firm’s information.

STEP 4

  • In the purchase of a condominium unit it is not necessary to purchase home/fire insurance. However, we recommend that you get condominium deductible insurance and/or contents insurance.

STEP 5

  • Approximately one (1) week prior to the date of closing our office will get in touch with you in order to set up an appointment. Please note that our office will need to have received all necessary mortgage documents prior to setting up an appointment.
  • At our meeting you will be required to bring in copies of two (2) pieces of valid identification (both front and back) for each individual that will be going on title as well as monies owing to the vendor including all closing costs associated with your purchase.

STEP 6

  • On the day of Closing:
    • Generally speaking there is very little for you to do on the day of closing except for picking up your keys from our office once we have successfully registered your transfer/deed.
    • It is our job to complete all the necessary banking and to send all of the necessary documentation and funds to the Vendor’s solicitor’s office.
    • Once we have exchanged and reviewed all necessary monies and documentation with the Vendor’s solicitor we will be able to register your transfer/deed. This usually takes place between 2-5 p.m., our office will notify you once we can release the keys to you.
    • If you are purchasing a previously owned condominium unit, our office will have the key available for you to pick-up at our office. We will be sure to call you as soon as the keys are available.
    • If you are purchasing a new condominium unit from a builder, the keys are generally kept at the site office for pick-up.

STEP 7

  • Our office will notify the tax office and your building corporation that you are the new owner(s) of the property once the transaction has been completed. It is up to you, as the new owner, to notify all other service providers.

STEP 8

  • Closing Package:
    • Within two (2) months of your closing date, our office will mail you all of the relevant documents and a detailed breakdown of the costs and fees associated with your purchase.

Contact us today to get started.

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