Are you thinking of buying a Property in GTA?
Before you start to look for a condo, it is important to get all the facts. Buying a condo is a significant financial investment. There are lots of facts to be considered. There is no minimum or maximum time frame, always take your time to find a good condo for your money. Please note, when you do deceided to purchase a condo, there is some deposit involved, deposit holder is identified on the first page of the APS and any deposit payment needs to be made to the holder named, deposits are traditionally held by the statutory Real Estate Trust Account of the seller’s brokerage. If they are held in a brokerage’s Real Estate Trust Account the funds are insured under the RECO Deposit Insurance Program, up to $100,000 per claim.
The return of a deposit would be by written mutual consent of the buyer(s) and seller(s) or by court order, if deal does not go through… In certain market conditions, consumers may find that more than one buyer is interested in a property. Once an offer is presented to a seller they may do what they want, such as accept, decline, make a counter offer or do nothing. If there will be a competing offer situation and creates unique conditions in a real estate transaction. Both sellers and buyers need to consider how to respond when presented with a competing offer situation. Working closely with your real estate broker or salesperson will ensure that you understand the process. If you understand all the facts, then let’s get started.