Before signing a property purchase contract, it’s advisable to take the following steps:

1.Obtain a Mortgage Pre-Approval: Secure a pre-approval from the bank to confirm your eligibility for the necessary financing to complete the purchase.

2.Conduct a Property Appraisal: Arrange for a professional appraisal to determine the property’s true value, which influences the financing amount the bank can provide.

Performing these checks will help ensure a successful transaction and prevent future issues.