Advantages to working with a REALTOR®:
- REALTORS® are experienced negotiators that will help construct and manage offers and counter-offers while providing valuable insight into market conditions and property values
- REALTORS® are knowledgeable of the Home Buying Process. They can advise you on your legal and financial options and recommend reliable home inspectors, appraisers and trades people.
- REALTORS® will save you time by locating and introducing you to the right neighborhoods that suit your lifestyle and book showings for homes that meet your needs and wants.
- REALTORS® are knowledgeable about neighborhoods, trends, and market comparables, taxes, financing, and investment opportunities and can point out potential “red flags” for a given property.
We are sensitive to the stressful nature of a real estate purchase. We are committed to guiding you Step by Step through the Buying Process and ensuring that you clearly understand what is happening at each Step. Our goal is to assist you in successfully completing your real estate purchase while making it easy, stress-free and most of all, fun!
Here is your Step by Step Guide to the Buying Process:
- Obtaining a Mortgage Pre-Approval. Before you start house hunting, establish how much cash (or downpayment) is needed and how much you can afford to carry in monthly payments.
- Understanding your costs of buying a home. Examples of costs include: downpayment, insurance premium on high ratio mortgages, appraisal & mortgage application fee, home inspection, legal fees, disbursements, land transfer tax and title insurance.
- Deciding your Needs and Wants and Where you want to live based on your current and future lifestyle and family requirements.
- Understanding the different types of Agency Relationships and selecting the option that best suits you. Since 1995 in Ontario, Buyers have the same rights to full representation as Sellers under Buyer Representation.
- House Hunting. This is where you actually start looking at homes for sale! To find homes that meet your criteria we use the MLS system. We set up appointments to see Resale and New Homes and accompany you on site for showings.
- Pricing. What should you pay for the home? It is important that you know what the home is worth! We will empower you with market information to help you determine the appropriate market value of the home by preparing a Comprehensive Comparative Market Analysis. The Comparative Market Analysis will contain similar homes recently SOLD, similar homes for SALE now and similar homes that Did Not SELL.
- Preparing the Offer. We will formulate an Agreement of Purchase and Sale based on your desired purchase price, deposit, conditions (financing, home inspection, insurance, Seller Property Information Statement, etc.), inclusions and exclusions, terms and closing date. The offer is created and structured to suit your needs and takes into consideration the property you are purchasing.
- Satisfying the Conditions. You will have approximately seven days to remove and/or satisfy the conditions and proceed with the sale.
- Fulfillment of Conditions. Once all conditions have been met, a final document called a “Notice of Fulfillment of Conditions” will be signed and delivered to the Seller within the time frame provided for in your offer. Once you have executed this document and we deliver it to the Seller or their Representative, you will have bought your new home! We take care of sending all the required documentation to your appointed Lawyer. From this point until your Closing date, your Lawyer will finish the purchasing process.
- Congratulations! Time to Celebrate! You’ve just bought a home!!