Real estate pros are experts - they live and breathe condos, neighbourhoods, mortgages and more. So who better to guide you through a complex process (and do all the heavy lifting)? Let’s look at the roles a realtor, mortgage broker, and lawyer play in helping you buy your first home.
The agent
A real estate agent’s job is to match you with a home that fits your budget and lifestyle. They’ll help you understand everything from making an offer to negotiating the deal to closing the sale. In a nutshell, they’re your rock. A great realtor can give you the inside track on buildings and neighbourhoods you’ll never find on your own. They can tell you when a neighbourhood is on the verge of greatness, what similar units are selling for, what’s affecting prices in a specific area, and where the best values are. They’ll also:
Negotiate with the seller’s agent to get you the best deal
Scour the deal for language you didn't agree to or terms that don’t work for you
Tell you which developers have the best reps, or when a pre-construction condo might be the right option
Make sure all the paperwork is complete, legal, and 100% understood by you
Introduce you to a great lawyer, mortgage broker, mover, stager, designer, reno company….or whoever else you need
Read more about working with an agent.
The real estate lawyer
Your agent and your lawyer are your own personal dynamic duo. Like your agent, your lawyer is there to look after your interests and raise any red flags. They review all the final documents at closing like the Purchase Agreement and the condo status certificate. More on that here.
The mortgage broker
A mortgage broker is there to get you the best rate and terms on your mortgage. It’s a better option than just going to your bank - because brokers have access to multiple lenders, you aren’t limited to what your bank offers you, but have a range of options to choose from. Get the scoop on working with a mortgage broker.
When you’re buying a condo, you don’t have to go it alone. Lean on the experts - that’s what they’re there for.