tariq
New Member
Looking to buy a pre-built condo and had a few questions.
The current scenario:
- construction hasn't started yet
- move in date is supposedly Dec. 2012 or later
1) At what point is the hard contract given? When construction commences? Is this when I need to provide the down payment?
2) Assuming the above is correct, what if I wanted to make additional payments towards the down payment? This even possible? Since they'll be 1-2 years before move in, I was planning to save a lot, but what can I do with this money other than put towards the mortgage after I move in?
3) How would the HBP fit into all this if I wanted to put some towards the down payment? At what point would I withdraw?
4) Should I find my own agent?
Thanks guys.
The current scenario:
- construction hasn't started yet
- move in date is supposedly Dec. 2012 or later
1) At what point is the hard contract given? When construction commences? Is this when I need to provide the down payment?
2) Assuming the above is correct, what if I wanted to make additional payments towards the down payment? This even possible? Since they'll be 1-2 years before move in, I was planning to save a lot, but what can I do with this money other than put towards the mortgage after I move in?
3) How would the HBP fit into all this if I wanted to put some towards the down payment? At what point would I withdraw?
4) Should I find my own agent?
Thanks guys.