Advice for Buyers

Finding the perfect home doesn't happen in one day. It takes careful planning and lots of work. Fortunately, there are a number of things you can do to simplify the process.  

1. Things to Consider Before Starting Your Search

What Features Do You Need?

Do you need an extra bathroom, a garage, a fenced backyard, or lower utility bills? Do you want a fireplace, a short drive to work, or maybe minimal yard work? Once your list is complete, decide what’s most important to you.

What’s the Ideal Location?

Where you live obviously affects your lifestyle; it’s also one of the most significant influences on the value of your home. Your choice of location may be somewhat limited by the price you can afford. Even so, make sure to consider such things as distance to work, schools, shopping and entertainment.

What Kind of Home?

What type of property do you want? A single-family detached home is attractive to many people because it typically provides more living space and land. On the other hand, a condominium may be a more appropriate choice for you, with an emphasis on maintenance-free living. Determine what type of home best suits your desired lifestyle and budget.

What’s Your Budget?

How much do you want to spend? Just as importantly, how much do you have to spend? Note there are numerous additional expenses (detailed below) that you’ll pay to complete the purchase of a home.

2. Choosing a REALTOR®

A REALTOR® can help you answer all of these questions and help you navigate through the complex real estate transaction. Give me a call and lets discuss your real estate needs and wants.

3. Searching For a Home

I have access to various tools, combined with local neighbourhoods knowledge to try and find properties that meet your specifications. Properties available for sale in specific areas, that best match your needs, choice of neighbourhoods, price range, schools and other amenities.

4. Seeing Houses

When you are satisfied with a property on paper, it's time to book an appointment to visit. There are many things to consider. Does it have all the features you want? Is the neighbourhood what you expected? Try to picture your favorite furnishings in a room. Remember all of the technical considerations, including:

  • What type of wiring does the house have?
  • What about power outlets? Different appliances use different types.
  • What type of heating system does it use? Heating costs can vary drastically by type.
  • Have the roof and foundation been well maintained?
  • What condition are the windows in?
  • What about the plumbing?

There are numerous other things to consider as well. A home inspection services are available for a reasonable fee. Having a qualified home inspector look at the house is always a good idea. The older the home, the greater the need for professional inspection.

5. Making an Offer

Once we find a house you want to make your home, I will walk you through and develop an offer. In the offer, we would specify how much you're willing to pay. (based on comparables of current market analysis as well as my negotiating strategy) State when the offer expires and suggest a closing date for the transaction. I will also propose conditions on the offer depending on the circumstances. Some common types of conditions are:

  • Getting a suitable mortgage;
  • Selling your current home;
  • The seller providing a current survey, or a "real property report," showing that there are no encroachments on the property;
  • The seller having title to the property;
  • Septic inspection to meet by-law standards;
  • An home inspection by a qualified home inspector; and
  • Any inclusions of appliances and other items - basically, what stays and what goes.

A deposit is almost always required along with an offer. An appropriate deposit will show our good faith to the seller. 

6. If Your Offer is Accepted

After our offer is accepted and all conditions met, the offer becomes binding on both sides. If either side later refuse to honour the agreement, they may be sued by the other side for damages. Before signing, I will walk you through the agreement and make sure you understand and agree with all terms of the offer.

Before the property can formally change hands, there are still a few things to do. Be prepared to furnish proof to your lender that you’ve insured your new home. On or before closing day, both side’s lawyers will arrange to transfer title of the property from the seller to you. The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.

At this time, I'll be following up with your lawyer to make sure that everything is as stated in the offer-to-purchase. 

Once you're satisfied and the keys to the front door are in your hands, there's nothing else to say, except welcome home!

Extra Expenses

No matter what type of home or property you're looking to purchase, plan on some extra expenses. 

  • A land transfer tax (a sales tax on property)
  • A mortgage broker's fee
  • An appraisal fee
  • Surveying costs (if the seller couldn't come up with a current survey)
  • A high-ratio mortgage insurance premium
  • An interest adjustment
  • Reimbursement to seller for the unused portion of any prepaid property taxes or utility bills
  • Legal fees, and, if applicable, REALTOR® fees

Advice for Buyers

Finding the perfect home doesn't happen in one day. It takes careful planning and lots of work. Fortunately, there are a number of things you can do to simplify the process.  

1. Things to Consider Before Starting Your Search

What Features Do You Need?

Do you need an extra bathroom, a garage, a fenced backyard, or lower utility bills? Do you want a fireplace, a short drive to work, or maybe minimal yard work? Once your list is complete, decide what’s most important to you.

What’s the Ideal Location?

Where you live obviously affects your lifestyle; it’s also one of the most significant influences on the value of your home. Your choice of location may be somewhat limited by the price you can afford. Even so, make sure to consider such things as distance to work, schools, shopping and entertainment.

What Kind of Home?

What type of property do you want? A single-family detached home is attractive to many people because it typically provides more living space and land. On the other hand, a condominium may be a more appropriate choice for you, with an emphasis on maintenance-free living. Determine what type of home best suits your desired lifestyle and budget.

What’s Your Budget?

How much do you want to spend? Just as importantly, how much do you have to spend? Note there are numerous additional expenses (detailed below) that you’ll pay to complete the purchase of a home.

2. Choosing a REALTOR®

A REALTOR® can help you answer all of these questions and help you navigate through the complex real estate transaction. Give me a call and lets discuss your real estate needs and wants.

3. Searching For a Home

I have access to various tools, combined with local neighbourhoods knowledge to try and find properties that meet your specifications. Properties available for sale in specific areas, that best match your needs, choice of neighbourhoods, price range, schools and other amenities.

4. Seeing Houses

When you are satisfied with a property on paper, it's time to book an appointment to visit. There are many things to consider. Does it have all the features you want? Is the neighbourhood what you expected? Try to picture your favorite furnishings in a room. Remember all of the technical considerations, including:

  • What type of wiring does the house have?
  • What about power outlets? Different appliances use different types.
  • What type of heating system does it use? Heating costs can vary drastically by type.
  • Have the roof and foundation been well maintained?
  • What condition are the windows in?
  • What about the plumbing?

There are numerous other things to consider as well. A home inspection services are available for a reasonable fee. Having a qualified home inspector look at the house is always a good idea. The older the home, the greater the need for professional inspection.

5. Making an Offer

Once we find a house you want to make your home, I will walk you through and develop an offer. In the offer, we would specify how much you're willing to pay. (based on comparables of current market analysis as well as my negotiating strategy) State when the offer expires and suggest a closing date for the transaction. I will also propose conditions on the offer depending on the circumstances. Some common types of conditions are:

  • Getting a suitable mortgage;
  • Selling your current home;
  • The seller providing a current survey, or a "real property report," showing that there are no encroachments on the property;
  • The seller having title to the property;
  • Septic inspection to meet by-law standards;
  • An home inspection by a qualified home inspector; and
  • Any inclusions of appliances and other items - basically, what stays and what goes.

A deposit is almost always required along with an offer. An appropriate deposit will show our good faith to the seller. 

6. If Your Offer is Accepted

After our offer is accepted and all conditions met, the offer becomes binding on both sides. If either side later refuse to honour the agreement, they may be sued by the other side for damages. Before signing, I will walk you through the agreement and make sure you understand and agree with all terms of the offer.

Before the property can formally change hands, there are still a few things to do. Be prepared to furnish proof to your lender that you’ve insured your new home. On or before closing day, both side’s lawyers will arrange to transfer title of the property from the seller to you. The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.

At this time, I'll be following up with your lawyer to make sure that everything is as stated in the offer-to-purchase. 

Once you're satisfied and the keys to the front door are in your hands, there's nothing else to say, except welcome home!

Extra Expenses

No matter what type of home or property you're looking to purchase, plan on some extra expenses. 

  • A land transfer tax (a sales tax on property)
  • A mortgage broker's fee
  • An appraisal fee
  • Surveying costs (if the seller couldn't come up with a current survey)
  • A high-ratio mortgage insurance premium
  • An interest adjustment
  • Reimbursement to seller for the unused portion of any prepaid property taxes or utility bills
  • Legal fees, and, if applicable, REALTOR® fees