Selling Pre-construction Condos
The process of selling pre-construcion condo can be one of the most stressful and important moments in your life, but with a real estate broker by your side, they can work to alleviate as many of those stresses for you as possible, and walk you through the entire process.
Our Areas Of Expertise
Pre-Construction
Along with the word ‘pre-construction’ comes a heavy amount of interest from realtors working on behalf of home buyers & investors… learn more
Representing Buyers
If you’ve started looking for a home – and a real estate professional to assist you – your buyer’s representative may ask you to sign a BRA.
Investment
We explain the different options for investing in Toronto real estate and the reasons real estate can be a good investment, especially in the long-term Learn more
When you’re on the market for a pre-construction condominium unit, you will almost always be given an assignment clause in the form of a contract.
The idea of investing in a piece of real estate in the largest city in Canada can be quite daunting and might even turn you off of the idea altogether, but that’s what real estate brokers are here for. They’re here to help make sure the investment process not only goes smoothly, but also that you are apprised of any potential complications or problems that might arise for you, as well as to ensure that they get solved.
Selling Pre-construction Online
With the Internet becoming such a large focus of our everyday lives, many sellers are turning to the Web for selling their homes, and in such cases, a generic ad on the Internet just does not do the trick. A real estate broker can help your ad get noticed not only by offering suggestions on how to enhance the attractiveness of it, but also through informing you of the best price you can get for your home and informing you of the best avenues to take to post your home online.
If someone does make an offer on your home, you can rely on your real estate broker to make use of the negotiation tactics that they’ve been trained (and have learned) to have, making sure the buyer does not come in with too low an offer that insults your intelligence. Many real estate brokers are also well-established online with multiple social media outlets you can reach them at, with them being available to you at nearly any time of the week.
Through careful assessment of your home and your wishes, a real estate broker can make sure that selling a pre-construction condo is done with the utmost respect to those desires, as well as the fact that your home sells for exactly what you asked for. As another plus, real estate brokers are usually in touch with certain people or entities that can help make the sale of your home even easier than you’d originally anticipated.
Having a representative to sell your property
Buyers usually also have representatives in the form of real estate brokers, so if you’re ever worried about that, you do not need to be; real estate brokers can be tough with each other at times, but you can be assured that the one you have representing your sale will make sure that the asking price is firm, and that the buyer’s representative won’t try to undercut your price with any sort of “counter-offer”, as they want to see things go well.
However, despite everything, a buyer (especially the ideal one) won’t WANT to do anything to threaten their purchase of your home, especially if they greatly desire it. Thus, the buyer does not usually cause any problems and, much like yourself, endeavors to see the purchase of your home for sale go as smoothly as possible. The real estate brokers on both sides are there to further ensure this process is a transition with minimal to no problems at all, and when all is said and done, you will have the money in your hands to look at investing in a new home (which you can do with the help of a real estate broker as well).
The Condo Maintenance Fees and Closing Costs for the Condo Sale
You had condo maintenance fees covered when you originally signed up for the unit, but you may wonder why they suddenly increase at the time the condominium undergoes registration and a board is elected. Well, this usually happens; the increase can be anywhere from 10 to 15% and should thus give you reason to add into your budget roughly 3-5% extra of the original purchase price. Another reason you should budget out that much is because there are also a plethora of closing costs involved in the finality of the sale of the unit, such as developer’s fees, HST on all of the appliances in the unit, and installation fees for utilities
Innovation In Selling Pre-construction Condos
The last points I would like to make known to you are, for one, the reserve funds; if an emergency ever arose with the condominium, there is a nest egg to fall back on, which you contribute to at the closing by paying at least 2 months’ worth of condo management fees towards. The second point is sales taxes: if you are the legal occupier of the condo unit, then you could be eligible for HST rebates on the price you paid to buy the unit. If that is the case, it’s highly recommended you get legal advice regarding the rebates, and I will be able to get you in touch with the best people who can help you with that and get you the rebates without any unpleasant surprises.