Hey Moaeez, I was doing my research and stumble upon on this video. Quite insightful for anyone who is buying a preconstruction home. Nicely explained & well edited Thanks
I felt as if this was geared towards Pre-con Condos more, rather than homes in general. I'm currently in process of building my custom home and he seems to have forgotten quite a few steps but it makes sense since this is geared towards condos.
So if someone is eligible now for mortgage and can get a pre approval letter now and provide it to builder and 3-4 down the road if they didn’t get the mortgage then what happen with deposit sorry in this instance?
If the purchaser is unable to close on the property, new build or resale, the buyer will forfeit their deposit and also be exposed to potential litigation for further damages. It is the purchasers responsibility to ensure their credit, income and debt ratio remain the same, or better, as they were when they received their pre-approval. Hope this helps! If any further questions arise, you may email me directly at Moaeez.Remax@gmail.com
Hello! Congratulations on moving to Toronto! You may use the link below to schedule a call with me. On that call, we can go over all your questions and I can better guide you on the next steps :) calendly.com/soldbymo/consultation?month=2022-05
Salam Alaekum. How would you suggest saving for deposit payments for pre-construction? A big chuck of my savings to pay for my next deposit is in a mutual fund portfolio. But due to the market volatility, it is currently sitting at a loss and I am concerned about losing any more money. The earliest GIC with 4 months term won’t meet my next payment deadline either. And I don’t want all the funds to be sitting in checking account without earning no interest. Please what’s your advice on this?
I hear you! Missing a payment will put you in breach of contract. No matter what, I encourage you to prevent that from happening; even if it means having your funds sit in your account. Think about the bigger picture! Hope this helps. You may email me at moaeez.remax@gmail.com if you have any more questions!
Hey Moaeez, I was doing my research and stumble upon on this video.
Quite insightful for anyone who is buying a preconstruction home.
Nicely explained & well edited
Thanks
Thank you for the kind words and for watching!
This was super duper straight forward and very informative. Thank you for this video and explaining things so simply. 🙏🏼
Very simple way to understand this complex process... thanks for this video ❤
I felt as if this was geared towards Pre-con Condos more, rather than homes in general. I'm currently in process of building my custom home and he seems to have forgotten quite a few steps but it makes sense since this is geared towards condos.
great video friend
Thank you for watching!
great tips!
Thank you for watching!
So if someone is eligible now for mortgage and can get a pre approval letter now and provide it to builder and 3-4 down the road if they didn’t get the mortgage then what happen with deposit sorry in this instance?
If the purchaser is unable to close on the property, new build or resale, the buyer will forfeit their deposit and also be exposed to potential litigation for further damages. It is the purchasers responsibility to ensure their credit, income and debt ratio remain the same, or better, as they were when they received their pre-approval.
Hope this helps!
If any further questions arise, you may email me directly at Moaeez.Remax@gmail.com
Hey Mo, as a first time home buyer, Im trying to find a phase 1 or 2 buy in Calgary. Do you know anyone ?
Yes I do! Please email me at mofromreal@gmail.com
Is it the 3% on the first deposit or the entire amount of the pre construction?
The percentage is calculated on the whole purchase price!
You can email me at mofromreal@gmail.com for more info!
Hi Iam new in canada in Toronto I want pre construction condo I dont no How shoul I start
Hello!
Congratulations on moving to Toronto! You may use the link below to schedule a call with me. On that call, we can go over all your questions and I can better guide you on the next steps :)
calendly.com/soldbymo/consultation?month=2022-05
How long is interim occupancy ?
Great questions! While the interim occupancy time caries per project and city approval; the average I have seen is 3-12 months
@@MoaeezRehman ok thank you
Salam Alaekum. How would you suggest saving for deposit payments for pre-construction? A big chuck of my savings to pay for my next deposit is in a mutual fund portfolio. But due to the market volatility, it is currently sitting at a loss and I am concerned about losing any more money. The earliest GIC with 4 months term won’t meet my next payment deadline either. And I don’t want all the funds to be sitting in checking account without earning no interest. Please what’s your advice on this?
I hear you! Missing a payment will put you in breach of contract. No matter what, I encourage you to prevent that from happening; even if it means having your funds sit in your account. Think about the bigger picture!
Hope this helps. You may email me at moaeez.remax@gmail.com if you have any more questions!
How do I become friends of the builders 😁
Date them 😁