A conditional purchase means the home is yours as long as certain conditions are met — such as securing financing, completing a home inspection, or having your lawyer review the condo status certificate.
Once all conditions are satisfied (or waived), the deal becomes firm.
You’ll receive your signed Agreement of Purchase and Sale, and then a few steps happen quickly:
They may decline it, ask for changes, or counter with new terms.
We’ll guide you through every step until we reach a yes — or help you pivot to another property if needed.
Even if the home looks great, an inspection can uncover things you might not notice—roof age, plumbing, electrical, and potential future repairs.
It also gives you peace of mind about the home’s condition before closing.
Deposits are due within 24 hours of offer acceptance unless your agreement states otherwise.
Most listing brokerages accept:
If your offer includes conditions (financing, inspection, etc.) and you do not waive them, your deposit is returned in full.
FINTRAC is a federal requirement for all real estate transactions in Canada.
We must verify your identity and complete a form with your ID and occupation.
It helps prevent fraud and money laundering — and is required before closing.
Yes. Real estate lawyers handle the legal side of your purchase:
We can recommend trusted lawyers if you need one.
Keys are released after the lawyers confirm the deal has closed — usually late afternoon on closing day.
We’ll notify you as soon as we receive confirmation.
Buyers typically receive two purchaser visits.
These are perfect for:
Before closing.
You’ll call your local providers to open accounts effective on your closing date.
Yes — your lawyer will require proof of insurance before closing (for houses).
Condos require contents + liability coverage.
It’s highly recommended. Canada Post Mail Forwarding makes sure nothing important gets missed while you’re settling into your new address—especially in those first few weeks when you’re still updating everything.
Mail forwarding gives you time to update your new address with:
It’s a simple step that prevents lost mail, delays, and missed bills. We include the Canada Post link in your “Prep for Closing” email, and we always suggest activating forwarding for at least 3–6 months after your move.
Yes—your lawyer will need proof of insurance (for houses) before closing.
Condos need contents and liability coverage.
Your mortgage can’t finalize without insurance in place.
No. Any work must happen after closing unless the seller agrees and lawyers prepare the proper documents
Closings usually occur in the late afternoon once both lawyers exchange funds and documents.
We’ll update you as soon as your lawyer confirms the deal is complete.
Your lawyer will:
Once that’s done, you get your keys!
Delays are rare, but if they happen due to banking or legal timing, we’ll communicate with you immediately and ensure your lawyer manages the next steps.
Your condo management will require:
Forms are included in your closing prep email.
We include all location details in your “Prep for Closing” email, and your lawyer receives them as well.
No—condo fees are paid separately each month and include building insurance, maintenance, reserve fund contribution, and amenities.
Sometimes a condo needs major repairs (elevators, parking, roofs, etc.).
When the reserve fund isn’t enough to cover the cost, owners may pay an additional “assessment.”
This is why reviewing the status certificate is so important.
An appraisal is a professional opinion of the home’s current market value, completed by a certified appraiser.
Most lenders require an appraisal to confirm that:
The bank uses the appraisal to make sure the amount they’re lending matches the true value of the property — they won’t lend more than the home is worth.
If the appraised value comes in lower than the purchase price, your lender may require:
Don’t worry, most appraisals come in right on value. And we’ll always guide you through it if something unexpected comes up.
Your lender may require a larger down payment or additional funds.
Don’t worry—this is uncommon, and your mortgage broker and lawyer will guide you through the options.
CHK Real Estate redefines industry standards with an unparalleled work ethic, innovative marketing strategies, and a community-centric approach to client service. Their dedication to excellence sets a new benchmark in the real estate sector, while their deep commitment to annual community initiatives reflects CHK's culture of giving.