The condo market continues to grow and more and more people are choosing the condominium lifestyle.But along with the excitement of buying a brand new condo is the accompanying anxiety.

The process of buying a condo involves much more than finding the ideal suite, paying your deposit and signing the agreement of purchase and sale. There are various stages, documentation and steps that purchasers need to be aware of. Knowing what to anticipate over the period from the date you sign your agreement to the date you move in to your suite, will make the process less stressful and perhaps a somewhat pleasant experience.

The following is a brief outline of the condo buyers steps for a new condo purchase:

NEW CONDO BUYER'S CHECKLIST

1. Sign the agreement of purchase and sale (APS) document; Pay initial and future post-dated deposits

2. Review the APS and disclosure package from the developer with your lawyer before the 10-day rescission period expires

3. Amend any terms of APS; Get the 10-day rescission period extended, if needed

4. Obtain pre-approval for your mortgage

5. Receive notice from the developer of pre-delivery inspection (PDI)

6. Attend the PDI and complete the checklist

7. Interim occupancy: Meet with your lawyer for the first closing

8. Deliver occupancy fee cheques (monthly fees include common expenses, interest on the unpaid balance and estimated taxes)

9. Pay any other adjustments due on occupancy; pay legal costs

10. Final Closing: Confirm registration of condominium for second closing

11. Meet with your lawyer to sign closing documents (transfer/deed and mortgage)

12. Deliver balance of funds owing [adjustments i.e. utility hook-up charges, realty taxes, ONHWP fee, land transfer tax and legal costs etc.]

13. After closing, begin paying your monthly common expenses, utilities and property taxes.