Preparing to Invest
Buying a property for investment is a large financial decision, so there are many important questions to ask and decisions to make when purchasing a property. North Elm Realty Group with Century 21 First Canadian Corp., Brokerage, goes beyond the transaction and will be there with you every step of the way. From the initial consultation, our team at North Elm Realty Group will gather an in-depth understanding of what your long term investment goals are and how our team can help you achieve them. Book a consultation with one of our REALTORS to get started on your investment property search.
A pre-approval is a qualification from a mortgage professional or financial advisor determining the amount that you are able to purchase a property for. Often your approval will be provided for a period of 30-120 days.
An appraisal is an estimated value of a property. Often appraisals are completed on a property by certified appraisers for the purpose of qualifying a mortgage on a property, refinancing or to determine taxes owed.
Landlord Tenant Board
A deposit is a portion of your down payment that is paid within 24 hours of the offer being accepted. This is held in a trust account at a brokerage or lawyer’s office until the closing date.
When offering on a property you can request a financing condition in your offer. This will ensure that you’re able to obtain a mortgage and that the property meets the lender’s requirements prior to purchasing the property.