Buying a home usually represents your single biggest investment – and debt. Adequate research, knowing what you want and what you can afford, and the assistance of a professional real estate agent are the keys for the best outcome.
As your realtor, I will guide you through the property search, financing, negotiation and transaction processes.
AS YOUR REALTOR,
MY DUTIES TO MY CLIENTS
I will guide you through the property search, financing, negotiation and transaction processes.
I will provide you with the most up-to-date market report in your price range and with the most recent sold properties in your desired area(s) so that you can make an educated offer.
I will gather as much information as possible for the home that you have chosen and negotiate the best price and terms for you that meet your needs.
I will refer and arrange only certified, qualified and professional inspectors for your purchase if you do not have your own. Schedule and attend on-site inspection with clients.
NEW CONDO WALK-THROUGH
I will schedule and attend on-site walk-through with you.
I will over look the whole transaction process and communicate diligently with other professionals to ensure the highest level of service to buyer from initial contact through contract to close.
DECIDING WHAT YOU WANT
Logically, the first step to finding the right home is to determine what you’re actually looking for. There are a lot of homes on the market at any one time, and looking at them all is not the best way to spend your time.
To make your home search more efficient, ask yourself these three focus questions
1. Where do I want to live?
This is your first decision. What communities or neighbourhoods do you want to consider? Is it important to be near schools, shopping centres, recreation facilities, places of worship, hospitals, or other amenities? Will you require public transportation?
2. What type of home do I want?
What style of home is best for you? It could be a detached, a semi-detached, a bungalow, a split-level, a two-storey, a duplex, a townhouse — the options are endless! You may also want to consider your ideal lot size and the age of the home.
3. What are my must-haves and deal-breakers?
What are the most important features for you in a home? A basement? A garage? A pool or a fireplace? How many bathrooms? Bedrooms? Do you have family members with special needs? What do you absolutely not want in a home?
GET PRE-APPROVED FOR A MORTGAGE
Since buying and financing a home are fundamentally connected, you’ll also need to examine your current financial situation and know what you can realistically afford. It’s important to get pre-approved for a loan before you start viewing homes in earnest. The benefits of pre-approval include: You’ll know what you are eligible to receive and be able to plan accordingly As a qualified, motivated buyer you’ll be taken more seriously when you make an offer Lenders can tell you if you qualify for special programs that will help you afford a better home (particularly if you’re a first-time buyer)
Now the fun begins! Most searches begin online. In fact over 90% of buyers start their home buying process on the internet. The most comprehensive website for property searches is Realtor.ca, a Canada-wide database of all active properties for sale, also referred to as the MLS® or Multiple Listing Service. This website allows you to narrow your search to a specific area, price range, key features and even displays the properties on a map. The internet can be very helpful for you to get a sense of what’s available but keep in mind, it’s not a complete picture of the market or all potential. properties available. A great agent, working on your behalf, will do an in-depth needs analysis to find all the properties suitable for you, set up a time to view the homes and guide you through the selection process.
MAKE A SMART OFFER & NEGOTIATE
You have found a house you love. Fantastic news! Here’s how the offer process typically works:
Step 1. Decide on price, terms and conditions.
I will conduct a Comprehensive Market Analysis (CMA), complete with comparable active and expired listings, recent solds, and other historical data to determine the market value of the home. This is extremely helpful when it comes to negotiating a fair price. You also need to decide on a closing date and if there will be any conditions of the offer such as home inspection, appraisal, water tests etc. Your agent will guide you.
Step 2. Prepare the offer.
I will create a legal document (Agreement of Purchase and Sale) that protects you, follows your instructions, and matches your schedule and needs. Of note, many tech savvy, eco-friendly agents today are using the convenience of paperless transactions. E-signatures are becoming more and more common today for their ease of use and online, secure document storage.
Step 3. Review the offer.
I explain the details and terms of the offer, and suggests options for specialty clauses so that you know exactly what you are agreeing to.
Step 4. Present the offer.
I will present and negotiate the offer on your behalf.
CONDITION REMOVAL & INSPECTION
Okay, you have agreed on the price and terms and now have a firm or a conditional offer in place. If you have conditions, now is the time to start the process of satisfying them in order to meet the deadline and firm up your purchase. One of the most common conditions of an offer today is home inspection. Home inspections allow you to scrutinize the details of the home and potentially save you from any unpleasant surprises.
HOME INSPECTION TIPS
• Choose a qualified professional. A member of an association can reassure you are getting an experienced, knowledgeable professional.
• Ensure the home inspector checks for visible issues with plumbing, electrical systems, roof, insulation, walls, ceilings, floors and windows, and the condition of the foundation. They can also check that the home includes chattels like furnaces and A/C, are in working order.
• Ensure your home inspector gives you a close and personal look at your new home. It takes about three hours to go through all the systems, and if there are any problems, you will see them with your own eyes. They will also give you maintenance tips and easy fix-ups, if necessary.
• Ensure that in the end, you receive a detailed report that summarizes the condition of your home.
I will refer and arrange only certified, qualified and professional inspectors for your purchase if you do not have your own.
PREPARING FOR CLOSING DAY
Typically you will have anywhere from 30 to 90 days before closing day. The closing date can be the same as your move-in date, however, this is not always possible. Check with your lawyer or agent to find out when your keys will be available on the closing date. It is normal that the exchange of money and title be complete before keys are released which could be late in the day. Remember, this is an exciting time! Being organized well in advance will pave the way for a much more enjoyable journey.
Here are a few details to take care of before your closing date:
• Legal Stuff and Paperwork
You and your agent will need to provide your lawyer with all the necessary documentation for your purchase. Your agent usually takes care of the agreement, waivers, survey and any other purchase documents. However, you may need to provide your lawyer with some additional information: insurance, down payment information, adjustment payments, and other signed documents your lawyer may request.
• Down Payment and Closing Costs
Make the necessary arrangements to have these funds available a week prior to closing or when the lawyer has requested funds.
• Moving Arrangements & Change of Address
Whether you are using professional movers, renting a truck, or getting a bunch of friends together, plan and organize it early.
• Property Insurance
Arrange for home insurance before closing and request a proof of insurance at your financial institution in advance. Provide your insurance agent with the listing information and details such as age of the house, pool or no pool, type and condition of the roof, condition of the furnace, electrical and type of exterior.
Contact the local utilities to coordinate the change of billing on closing. Including phone, Internet, cable, gas, electricity, water, and any rental agreements. Don’t forget to cancel the services at your old address.
Inform your children’s old and new schools about the move and arrange any necessary record transfers.