Caveat Emptor is Latin for "Let the buyer beware."

If you are buying a house you are probably making the largest financial commitment of your life. Here are 11 tips that can help make your purchase a winner:

1) Get prequalified for financing at your financial institution first. This will tell you exactly what your purchasing budget is.

2) Get an idea of the location you would prefer. Choose a neighbourhood that is suitable for your needs. Get out and walk the area. Are the surrounding homes and yards kept in a tidy fashion? Are the businesses that service the area adequate for your needs? Identify the schools and playgrounds and check them out. Are they properly maintained and cared for? Your Agent knows the neighbourhoods and will help you choose the right one.

3) Always be sure of value. When you find the property that you wish to purchase, make sure that the purchase price is commensurate with similar type properties that are selling in the same neighbourhood. Your Agent can provide you with all the information necessary to help you make an informed decision.

4) Always make your purchase contingent upon you enlisting the services of a professional building inspector. Your inspector will alert you to any visual deficiencies that may be apparent, taking into consideration the age, and type of building on the property.

5) Always make your purchase contingent upon inspecting a copy of the certificate of title. The certificate of title is registered at your local Land Titles Office. On it you will find the names of the registered owners, the interest the owner has in the land, plus any charges on the title which may materially affect your interest or usage of the property. If your purchase falls under the Strata Property Act request a copy of the Strata Plan. On it you will be able to identify the area exclusively assigned to your strata unit, its size, and your unit entitlement as a share of the common property.

6) Request that the owner complete a "Property Condition Disclosure Statement", and make it part of the contract. There are answers to many questions that should be asked about the property, which may be crucial to the value, and your future enjoyment of the property.

7) Always verify the listing information. Do not rely on the listing brochure as your only source of information. Go to City Hall and verify such things as the age of the dwelling, lot size, zoning, the taxes, and if there are any issues the city may have with the property.

Some of the more important facts that should also be verified include the square footage of the dwelling, room sizes, building type, plumbing, heating, and electrical service. If the purchase you are making falls under the Strata Property Act you should also note in your contract of purchase and sale the following: A) the amount of the monthly maintenance fee and what expenses that fee is to be used for. B) Identify any storage locker and parking spaces that are exclusively assigned to the suite and specify under which type of ownership they are assigned. Your Agent will assist you in ascertaining this information.

8) If the purchase you are making falls under the Strata Property Act, besides reading and approving of the financial statements and bylaws of the particular Strata Plan, you should also read the previous 24 months of the minutes of the meetings. This may give you insight into the way the building is run, as well as any additional expenses the owners may incur in the future. Ask the seller to provide a Form "B". Your Agent will ensure that you are provided with all these documents, as required by law, to help you make an informed decision.

9) Always get the conveyance of the certificate of title completed by a lawyer or notary public. Time is of the essence and it must be done correctly.

10) Sometimes there are questions in which the Buyer must seek independent legal advice. This should be done prior to entering into an unconditional, firm and binding agreement.