I put together all of the pieces to your puzzle. I take pride in making sure you have a smooth transaction from start to finish!
Because purchasing a home is your biggest investment you will ever make, you’ll definitely want a team of professionals working with you throughout the process.
No one will play a more important role in helping you find a home. My job is to:
If you haven’t already gone through the mortgage pre-approval process, you will need to find a good lender to assist you during the purchasing process and for as long as you have your mortgage.
Remember that many different institutions lend money for mortgages, such as banks, trust companies, credit unions, pension funds, insurance companies and finance companies. It’s a good idea to shop around and speak with more than one lender because terms and options will vary.
Some people find it helpful to use a mortgage broker. Mortgage brokers don’t work for any specific lending institution. Their role is to find the lender with the terms and rates that will best suit the buyer.
To find a lender or mortgage broker, you can:
You need a lawyer to protect your legal interests such as ensuring the property you are thinking of buying does not have any building or statutory liens, charges, work or cleanup orders associated with it. He or she will review all contracts before you sign them, especially the Agreement of Purchase and Sale. Having a lawyer/notary involved in the process will give you a peace of mind and ensure that things go as smoothly as possible. Law associations can refer lawyers/notaries who specialize in real estate law.
Lawyer/notary’s fees range widely and depend on the complexity of the transaction. Shop around for rates and, when choosing your lawyer/notary.
Remember that a laywer/notary:
You should consider having any home you are thinking of buying inspected by a knowledgeable and professional inspector.
The home inspector’s role is to inform you on the property’s condition. He will tell you if something is not functioning properly, needs to be changed or is unsafe. You will also be informed of repairs that need to be done and he/she may even be able to tell you where there may have been problems in the past.
Every inspection should include an evaluation of at least the following:
A good home and property inspector generally belongs to a provincial or industry association such as the Canadian Association of Home and Property Inspectors at https://www.cahi.ca. Home inspector fees are generally $350 or more, depending on the size and condition of the home.
An insurance broker can help you with your insurance needs, including property insurance and mortgage life insurance. A lender insists on property insurance because your property is their security for your loan. Property insurance covers the replacement cost of your home, so premiums may vary depending on its value.
Your lender may also suggest that you buy mortgage life insurance. Mortgage life insurance provides coverage for your family should you die before your mortgage is paid off. This type of insurance is often available through your lender, who them simply adds the premium to your regular mortgage payments. However, you may want to compare rates between both an insurance broker and your lender.
Note: be careful not to confuse property or life insurance with mortgage loan insurance, which may be required for high-ratio mortgages.
I always like to have an initial meeting to discuss what’s important to you! During the meeting we will consider your needs/wants, timing and determine your desired geographic location. I will also illustrate all of the services I will provide to you through this process. We will then sign a Buyer Representation Agreement so that you and I are both committed to finding you the right home.
Download: Buyer Agency – How It Affects Buyers (PDF)
I will send you all listings that match your needs/wants by email and with your feedback; we can narrow down on specific properties and revise the search criteria if necessary. Keep in mind – this is all about what may be of interest. I am committed to providing you with all suitable properties that you might be interested in.
If there are any properties you are interested in, I can arrange a mutually convenient time to take you out there and show them to you. I will give you a property tour of each selection and answer any questions you have about the home and/or neighbourhood.
Once we have found your dream home, we will review all the necessary recent sales information and plan our offer strategy.
When your offer is prepared and signed, I will present it on your behalf and handle all negotiations with your best interests in mind while guiding you through the process.
You now have an accepted Agreement of Purchase and Sale. I will make sure that all related parties have copies of the documents while tracking the deal and handling all matters concerning any conditions and final paperwork.
This is the day you receive keys to your new home! Depending on your convenience and arrangements with your lawyer and lender, you may be asked to meet a day or two in advance to sign the final closing documents. I will ensure that you are all ready to get the keys to your new home!
Depending on the local market conditions and information I provide you with, the price of your offer may be different from the seller’s price. If there is more than one offer, then you should be prepared to bid higher than the asking price! You can rely on my expertise to guide you what price you should offer based on your budget, the comparable sales and how many offers are involved.
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. This is usually a certified cheque or bank draft and should be at least 5% of the purchase price. In the event of a multiple offer situation, a stronger deposit amount may help strengthen your offer.
Includes the total price offered and the financing details. You arrange your own financing or ask to assume the seller’s mortgage, especially if it has an attractive interest rate.
Offers can be either firm or conditional. A firm offer is usually considered to be stronger than a conditional one because it doesn’t offer an option for the Buyer to “change their mind”. It shows that you are prepared to buy the home as-is with no conditions. A conditional offer means you have placed one or more conditions on the purchase meaning that the home is not actually sold until all the conditions are satisfied and waived by you within a period of time.
Some common conditions can include “subject to home inspection”, “subject to you obtaining financing”, or “subject to you selling your existing property”. A condition can be really anything you include in the Offer that requires your satisfaction and waiving the condition within a period of time. The typical timeframe for a conditional period is 3-5 business days. The shorter the period, the stronger the chances are that the Seller will accept your conditional offer.
Your offer should be contingent on including or excluding certain items in the sale. These might include appliances, certain fixtures or decorative items. Included items will remain in the house at the time of closing, while excluded items will be removed.
The Seller would have already specified the date or date range they would like to close on the property. The closing date is the day the title of the property is legally transferred and the funds are paid to the Seller.