For Buyers

Are you thinking about buying a home?

It is a big decision, and there is a lot you need to know before signing on the dotted line.
To navigate through this substantial and complex  transaction, it is important to learn about the process and important to choose someone qualified to help you.

As an accredited buyer’s representative, I offer you best-in-class buyer service; your interests will become my interests. I have experience and a long track record;  when you are ready to start your home search, I will be happy to show you the way to find the right property, in the right neighbourhood, at the best price.

On Agency representation – When you are represented as a buyer client, in a formal agency relationship, you have someone who works for your best interests and owes you fiduciary responsabilities. Formalizing this agency relationship ensures that the client receives: loyalty, obedience, disclosure, confidentiality, reasonnable care and diligence, and accounting.

When you work with me, as your buyer representative, you are assured that I will work for you in the buying transaction while the listing Realtor works for the seller of the property you are considering.

 

FIRST THINGS FIRST–  Decide on What you Want and What you Must have  

    1. Set your budget, based on what you can afford to pay and how much renovation you are willing to do.
    2. Set your location based on where you wish to live and what you want close to you.
    3. Set the features of your dream property, style, size, lot type, number of rooms, flooring type, heating and cooling systems, fireplace. 
FINANCIAL SIDE OF THINGS –   Down payment, closing costs, mortgage payments
  1. The downpayment is what you pay up front for the purchase of your home. The larger it is – the more you save in the long run as it reduces the amount you borrow, your monthly payments and the interest you will pay over the life of the mortgage.
  2. The closing closts are the legal and administrative fees associated with your purchase such as inspections, insurances, legal fees, taxes and the adjustments on prepaid utilities and services.
  3. The mortgage payment is determined by how much value you can afford and what you can get pre-approved for. Knowing what this amount is will save you time, knowing precisely what you can spend and feeling confident when you start shopping

lETS GET STARTED – WITH A CLEAR    Understanding of your priorities and budget

  1. I will locate properties that fit your budget
  2. I will give you info on the local market, price trends, taxes and utilities
  3. I will preview and accompany you to view different properties, seeking to identify potential problems and issues to consider.
  4. I will provide you with a list of qualified professionals to assist in related services (inspectors, lawyers, lenders)
  5. I will advise you in formulating and managing your offers/counter offers, help you develop a negotiating strategy and negotiate on your behalf.
  6. I will keep track of all details through the entire transaction, to closing and beyond….

It is a really fun part of the buying process — but buyer beware!

I will remind you to check for: the general upkeep, water leaks, state of appliances and fixtures, floors, doors and windows, drainage, grout and caulking, structural state, storage space.  I strongly recommend an inspection of the property you are considering.

dont be shy:  – look under the rugs, open closed doors and look inside cupboards and closets.
dont be fooled:  – by nice home smells of baking bread  or scented candles- is this hiding something?
dont confuse the lingo: - does the description ”cozy“ really mean awfully small,  -does this  description of a”handyman special“ really mean renos will be required from top to bottom
Bring a friend or a spouse:  – A second set of eyes might notice what you are missing
Be organized:  – Bring a camera and take notes on the listing sheet I will give you, it might serve well to refresh your memory later.

You found your dream home – it is time to put in writing – let’s make an offer

  1. The offer can be firm if you choose to buy it without any conditions or conditional, making it subject to  different important requirements of your choice such as: a satisfactory home inspection, receiving financing approval, or to the sale of a property.
  2. The offer will specify: price, amount of deposit, terms (incl. financing details), conditions to be fulfilled prior to closing, inclusing/exclusions, closing day.
  3. The offer will be negotiated to obtain mutually agreable terms with the seller.

On closing day, ownership transfers from the seller to you

  1. Closing costs will include: mortgage application fee, inspection fees, lawyer’s fees, taxes, registrations
  2. And Land transfer tax  – which will be levied as it is required in every time real estate changes hands. I can give you an estimate of that amount – which will be payable to your lawyer on closing.

    ARE YOU A FIRST TIME HOME BUYER

Buying your first home is exciting and rewarding.  It will give you a sense of pride and of belonging to the community. Buying a home also gives you some strong financial advantages:

  1. Your home will become your largest source of savings, as your payments build equity
  2. Your home will increase steadily in value
  3. Your home will provide substantial return on your investment
  4. The equity you acquire can be used as security for other loans
  5. Getting in to the housing market places you on the first step of the investment ladder.

If you are a first time buyer – you can withdraw up to $20,000 from your RRSPs (subject to certain repayment conditions) to apply towards your purchase.

If you are a first time buyer – you may be eligible for a refund or part refund of the Land Transfer Tax up to a maximum of $2000 – if you are over 18, if you will occupy the purchased property as a principal residence and if neither you or your spouse have ever owned or had an interest in a home anywhere in the world.

 

 

 

 

 

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