Mick's blog

Seven Steps For Purchasing Your First Condo

So you have decided to purchase your very first condo. First of all, congratulations on deciding on buying a condominium, but I can only imagine what you are going through right now: the stress, the planning, the organizing and most of all putting together all of your financials. In order to be prepared for your first condo purchase you should hire a Toronto condo lawyer, but below are a few steps for you to follow to help you along the way:

Step # 1: You need to decide on what type of condo you want and need. Would you like to be closer to the ground or in a Pent House? Would you like a pool and other special amenities? When you determine your condo needs and wants according to your financial state before shopping for a new home, you will be able to find what you want faster.

Step # 2: Start shopping around for different condominiums. This is where your real estate agent will be most beneficial to you so you can easily find a home that fits your needs and your budget. However, when you are looking around at different condo buildings you need to take your time, take notes and ask as many questions as possible. Also a good idea is to narrow down your search by looking carefully at the condo property conditions, neighborhood qualities, and community services.

Step # 3: Make an offer on a condo. Once you find a condominium you are interested in and is within your price range, you should make an offer or even write a purchase proposal.  

Step # 4: Get a professional condo inspection. If your offer has been accepted by the sellers you need to hire a professional home inspector immediately to ensure the structural soundness of the condo is in good condition. If you made the purchase contract contingent on a satisfactory home inspection you have the option to address any issues with the condo before you move in. If the home inspector finds major issues, you can even cancel the sale and get your money back or even ask the seller to make the repairs themselves or give you credit for the amount it would cost you to fix them.

Step # 5: Apply for a mortgage loan on the condo. Once you have chosen a lender or a loan program you will need to complete a formal application at the lender’s office.

Step # 6: Obtain insurance for the condo and have additional inspections. For this you will need to shop around and buy homeowner’s insurance to protect against any losses due from damages to the condo or liability.

Step # 7: Close the loan on the condo. The final and most exciting step in the condo purchase process is called the closing or settlement of the property. This is where you would sign the closing documents, the closing costs are paid and the condo keys are given to you and you can move in!

Finding Credible Debt Consolidation Canada Company’s

If you need assistance in consolidating your debt and you have already begun the process of doing your research looking for a credible debt consolidation Canada company then you probably noticed the wide variety to choose from. Of course, all of these company’s say they are there to help you. Yet, the majority of these debt consolidation companies actually are more interested in helping themselves than they are in ‘helping’ you. That is why it is extremely important to be extra careful when choosing a debt consolidation Canada company.  

You might be wondering why you need to be so careful when choosing the right company. It is because you need to understand the many tricks that multiple dishonourable debt consolidation companies will try to pull out their sleeves. These tricks can be anything from overly positive or unrealistic promises and you should be aware of all of them.

Below are three ‘tricks’ you should watch out for in a debt consolidation Canada company:

Unbelievable Offers Are More Than Likely Considered Suspicious

You will most likely encounter trickery in the debt consolidation industry because it is something that is a common complication. If you are encountered by trickery, then it is something you should go out of your way to conquer or avoid all together. In order to do this, you need to keep an eye out for offers directed right at you that seem completely out of the normal of financial possibility. Anything with a ‘quick fix label’ should be to completely avoided – If you hear the following statement, “With a mere loan you can take your monthly payments and cut it right in half,” turn the other way fast because this is an exact example of trickery in the debt consolidation industry.

Unfortunately, the truth is much more complicated because your debt is something that cannot be fixed within a blink of an eye. You need to know that there are no quick solutions to dealing with your debt.

Pushed Around or Persuaded

If you acknowledge that the debt consolidation company is speaking with you in an outwardly pushy manner then you should know right away that it is not right. For example, if you were speaking with a representative and the tone you are receiving is extremely forceful in a manner that is demanding to working with them as your debt consolidation company, then you need to know that this is not standard procedure. Another way to look at it is you should not let anyone working in the consolidation side of things push you around or work their persuasion to gain the upper hand.  

Also do not comply if you are going through the process of speaking with multiple debt consolidation companies if they say anything about mandatory fees or suggested donations. In fact, discontinue any further discussion with the company if they are trying to charge you for things you do not need to be charged for.

What Can A Credible Company Do

Respectable and true debt consolidation Canada companies will be straight forward with you and not attempt to swindle you with unrealistic offers or mandatory initial fees. They will not pressure you into signing on with them – Time will be given to you through the period of deliberating yourself or your family. And above everything else, make sure you know that a credible consolidation company will actually help you get out of your debt, not place you deeper into it.

Getting out of debt is not an overnight process and having a credible debt consolidation company will provide you with debt relief, freedom as well as properly informing you of the ways on how to stay debt free.