A first purchase is safest when financing, closing cash, property risk, and subject deadlines are managed as separate workstreams. A tax exemption or larger borrowing limit does not make a property affordable by itself.
Decision points
- 01
Get financing assumptions in writing before shopping at the ceiling.
- 02
Use subjects to complete property-specific diligence.
- 03
Recheck cash and monthly cost after every offer change.
Before an offer
Confirm down-payment source and timing, lender qualification assumptions, cash-to-close, target monthly cost, property-type risks, and the professionals who can meet your likely deadlines. For strata property, request the Form B, financial statements, bylaws, minutes, insurance summary, and depreciation report early.
Before removing subjects
Reconcile the inspection and document review with your original assumptions. Price known work, identify unresolved legal or engineering questions, obtain insurability confirmation, and rerun both cash-to-close and stressed monthly cost.
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