The Toronto condo market continues to grow and new and exciting developments seemingly pop up overnight, but don’t let the excitement cloud your common sense. If you are considering purchasing a pre-construction condo but thinking of not using a Realtor, then here are five reasons you should re-consider.
- There is a misconception that by not using a Realtor you can somehow save money. That is the furthest thing from the truth. The truth is when you purchase a pre-construction condo a commission is paid by the builder to the Realtor who represents you, but if you choose to not have representation, then that commission doesn’t end up in your pocket, it finds its way to either the builder’s sales team or the builder themselves.
- From HST to clauses to legalese that even a seasoned lawyer might interpret in many different ways, buying a pre-construction condo can be confusing. If you had the opportunity to have someone review the contract and warn you of potential issues prior to signing, then why wouldn’t you?
- A good Realtor will negotiate on your behalf. Did you know that there are things your Realtor can still negotiate for you? Everything from the purchase price, to the upgrades and even things like closing costs. Having somebody on your side can be a definite advantage.
- For every person that uses a Realtor to help them, there are just as many who walk into a sales centre and decide to buy directly from the builder’s agents on-site. Let me be blunt. That sales representative, although they may smile a lot and offer you free refreshments is most certainly not looking out for your best interests. They are, in fact, working for the Builder and the builder has instructed their sales team to get the highest price they can for your unit with the least amount of conditions.
- The only way to gain access to the best units in a condo development is to use a Realtor. There is just no way around it. You do not just want to use any Realtor though, you will want to make sure that your Realtor has VIP access to units that are available BEFORE they go on sale to the public. The simple truth is, once a condo project goes on sale to the general public, the good units are all but sold out. One of the reasons I joined Brad J. Lamb Realty was because of their VIP status with several builders and developers. Working with me ensures you access to the latest condo projects and the best units before they go on sale to the public which often include upgrades and special VIP pricing.
Making a decision to use a Realtor for one of the biggest purchases you can make should be easy. The trick is finding a Realtor who you can trust to not only know the intricacies of buying pre-construction condos in Toronto but also has a good understanding of which ones to buy and where to buy for a sound investment. Whatever your decision, I just hope you find what you are looking for with the least amount of stress possible!
Interested in working with me? Call me anytime at: (416) 619-0694
