5 Reasons to Consult a Notary Before Shopping for a Griffintown Condo
With its easy access to downtown and affordable prices in neighbourhoods, such as Griffintown, is one of the hottest real estate markets for young professionals. New condominium developments are popping up on a near-monthly basis, offering residents a unique opportunity to transition into home ownership with a brand-new place.
But before you tour a Griffintown condo development or any other real estate property, you need a plan in place so you don’t rush into a decision you may regret. Read on for five reasons it’s so important to talk to a notary before you purchase a condo in Griffintown or similar neighbourhood.
Not Consulting a Notary Before shopping for a Griffintown Condo?
Here are 5 reasons why you should.
1. Notaries Prepare You With Pertinent Questions
When you’re touring a condo you’re planning to live in, especially a brand-new one with updated features and fixtures, it can be easy to be so dazzled by the presentation you forget to ask some key questions. Meeting with a notary before your first condo visit can help you learn about some of the legal and financial aspects of the process you might have overlooked.
For example, although most condo sellers will require a deposit of earnest money, this money isn’t always refundable. If you’re planning to make a deposit, you’ll want to ensure you’ll be able to ask for it back if any issues come up. Although condo representatives and real estate brokers will generally be up-front in responding to your questions, having a notary go through the process with you beforehand can ensure you’re fully aware of all the questions you’ll need to ask.
2. Notaries Provide Legal Advice
Notaries work exclusively on non-contentious legal matters. As a result, they’re uniquely equipped to help prospective homeowners with the sometimes complex legal and financial aspects of the purchase process.
If you’ve partnered with a notary to purchase a condominium in Griffintown, you’ll be able to rest assured that you have someone in your corner, acting in your best interest rather than focusing on their own bottom line. But unfortunately, waiting until you’ve already put down earnest money or signed a purchase agreement before seeking a notary’s advice may be too late.
3. Notaries Ensure a Streamlined Experience
For young professionals whose lives are already chock-full of activities and obligations, touring condos and meeting with bank representatives can add a layer of complication you may not want. By working with a notary before you begin shopping for condos, you’ll have a much better idea of the process and how to avoid doing any unnecessary work.
4. Notaries Help You Avoid Hurdles
Few things can be more frustrating than going through the entire purchase process only to run into an unexpected problem at the last possible moment. By analyzing the legal issues your condo purchase presents, your notary can help you avoid or deflect any issues to ensure your purchase or sale goes through just as planned.
5. Notaries Learn From Others’ Mistakes (And Triumphs)
Most notaries that work on real estate transactions handle many purchases and sales each year. Although each situation presents its own challenges, notaries can recall other clients’ experiences and help you avoid some of the mistakes these clients may have made. On the other side of the coin, notaries who have seen or facilitated some especially smooth transactions take lessons from these as well. It is best to seek a “pre-purchase” consultation with a notary so that you do not make the same mistakes as others have.