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   

NEEDS:

# Bedrooms    #Bathrooms    Home Style: Single Dwelling    Duplex    Apartment/Condo    Townhouse/condo   

THE REALTOR:

  • Representation by a Professional: Consider hiring me as your own real estate agent, one who is working for you, the buyer, not the seller. There are significant advantages to being represented by a well-trained agent who acts on your behalf, and it usually doesn't cost you a dime!
  • Representation by me as your Buyer's Agent assures that your very best interests will be handled in a professional manner.

  • 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: 
    •      1.Buyers Market
    •      2.Sellers Market
    •      3.Balanced Market
    • 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

    1. Do they specialize in any particular part of the market? Do they work more with buyers or sellers?
    2. Will I be in control of the process?
    3. How much do they know about the community I want to buy in?
    4. What assurance do I have that they will service my needs? Do they have testimonials from prior clients or letters of recommendation?
    5. How will the realtor keep me informed?

    MORTGAGE

    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

    HOME INSPECTION;

    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

    CLOSING:

    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