BUYING A HOME
DETERMINE WHAT YOU WANT:
Large Kitchen Fireplace Walkin Closet Garage FamilyRoom Master Ensuite Finished Basement Large Back Yard Quiet Street Close to: Transit Schools Shopping View
# Bedrooms #Bathrooms Home Style: Single Dwelling Duplex Apartment/Condo Townhouse/condo
I can provide you with the following services:
- Act as a consultant to determine your real estate needs, help you establish what you can afford and assist you with mortgage financing. I can also advise you of costs such as legal fees. legal disbursements, closing costs and down payment options
Identify and represent you in one of the three market scenarios:
Identify communities and homes that are most suited to you as an individual,couple,or family
Research all MLS listings to find the right home for you. I also have "first knowledge" of new listings as they are recorded.
Advise you when homes are overpriced.
Provide information on properties and accompany you as advisor when showing suitable properties.
- Promptly present offers and negotiate on your behalf. Negotiations could include one or numerous counteroffers.
- I will guide you through the process if there is more than one offer
- Arrange an inspection
- Guide you through the process from offer to closing. This includes facilitating the completion of all paperwork and monitoring closing activities.
- Keep you informed throughout the entire purchase process
The buyers realtor is paid from the sellers commission. There is no direct cost to you A Realtor works without pay until they help you find the right home and successfully close an offer to purchase at a price and terms acceptable to you.
Checklist when hiring a Realtor
- Do they specialize in any particular part of the market? Do they work more with buyers or sellers?
- Will I be in control of the process?
- How much do they know about the community I want to buy in?
- What assurance do I have that they will service my needs? Do they have testimonials from prior clients or letters of recommendation?
- How will the realtor keep me informed?
Get a written pre-approval letter for a mortgage. Very important to have a written pre-approval. A verbal pre-approval may not be worth the paper it is written on! A professional mortgage advisor will provide you a written pre-approval. Factors to consider:
- What type of mortgage is best for you?
- How much should your downpayment be?
- Are you eligible for an RSP homebuyer withdrawal?
- There may be a fee for mortgage application and appraisal fee.
- Documents needed to secure a mortgage include
- Copy of the real estate listing OR for a new home, the builder plans,lot size and location
- A copy of offer to purchase.
- Documents confirming employment, income and source of pre-approval
By hiring a home inspector prior to purchase, you will protect one of the most important investments of your life. A home inspection will reveal the structural and mechanical soundness of your new home. The report will advise you of:
- Existing and potential problem areas
- Suggested solutions
Set aside enough funds to close your deal. CMHC suggests 1.5% of the purchase price. Closing expenses include:
- Legal fees
- Legal disbursements
- Tax closing adjustment
- Utilities closing adjustment
- Property inspection(recommended, but optional)
- Deed and mortgage registration
- Real property report(usually the expense of the seller)
- Land transfer or property purchase tax
- Mortgage interest adjustment and takeover fee(if applicable)
- Utility and cable connection charges
- Home and property insurance coverage
- Mortgage insurance
- Moving expenses
ON CLOSING THE DEAL: Be sure to:
- Schedule mortgage and property tax payments
- Secure insurance coverage
- Transfer utilities Arrange the move
- Arrange the move