Home buying can seem like a daunting process, especially for first time buyers – but it doesn’t have to be! With any big decision, you want to make sure you know what you’re getting into and are prepared. That’s where I come in. As your realtor, I will strive to provide a ‘buyer-centered experience’. Meaning, I will always work to place your interests and needs first. I’m here to learn your needs, your wish list and to guide you through the entire process, not just the showings themselves.
I’ve broken down the buyers process into six easy steps (okay, seven with some FAQs) so that you can feel confident and prepared when starting your buying process. Read the highlights below. Want to know more? Reach out anytime.
What are you looking for? This is step 1 for a reason! Consider neighbourhoods, proximity to amenities, schools, green spaces; if you want a detached home or a condo and if you want something turnkey or a home you can put some work into.
Figure out the financing. In today’s competitive market place, it is imperative that as a buyer, you understand how mortgage financing works and how much a financial institution would be willing to lend you in the event you decide to make an offer on a home. You may wish to consider using the services of a mortgage broker to help you navigate the complex landscape of borrowing. You should consider the additional costs of buying such as legal fees, home inspection, appraisal fees and land transfer tax.
Go Shopping! Now that we know what you want and what you can afford, we can begin to search for your new home! I will set up an automatic search that will ensure you receive new listings as soon as they hit the market based on your needs, price range, ideal location and type of property.
Let's make a deal! We’ve found the perfect house! Now what? I will prepare the necessary documents for your signature and will include terms and time-sensitive conditions for your protection, such as financing, home inspection and if applicable, a Condominium Status Certificate. At this point, your offer will be presented to the seller, who will choose to either: accept the offer (yay!), refuse to respond to the offer, or respond with a counter offer. The counter offer contains changes the seller would like to be presented back to you. You can accept these changes or add changes of your own - this is where your agent’s negotiating skills come into play!
Completing the sale and your closing day. After your offer is accepted, the deal is almost done! As your agent, I will guide you through this part of the process to ensure you cover all the necessary bases such as delivery of the deposit cheque to the listing brokerage within 24 hours of acceptance, helping you meet the conditions of your offer such as home inspection or financing and to deliver a copy of the Agreement of Purchase and Sale to your lawyer and lender. Your lawyer will also have a number of tasks to complete for you such as a Title Search, to register your mortgage and release your funds, to receive your down payment, to prepare the Statement of Adjustments and to close the transaction!
Your pre-closing to-do list. Your deal is firm and it's time to start planning your move! We can plan your pre-closing visits to your new property, which you can use to take measurements or bring contractors in to do estimates on work to be done. Do you need to hire a mover or book a rental truck? Does your lawyer and lender have everything they need to complete the transaction? Have you completed your address change notifications to Canada Post and all other companies you do business with such as Revenue Canada, vehicle registrations, credit cards, etc...? And, don't forget to set up and/or disconnect utilities! It's the home stretch!
Frequently Asked Questions About Buying a Home
Why should I use you to help me buy a home?
5 great reasons: Integrity and honesty, skilled negotiator, strong work ethic, direct communicator, experience and market knowledge. As your agent I will strive to provide a "buyer-centered experience". Briefly put, this means I will always work to place your interests and needs first!
Who pays the buyer's agent?
The Buyer’s agent is usually compensated by the seller out of the proceeds of the sale. In other words, there is usually no cost to the buyer. This situation may change however, if the buyer wishes to purchase a property privately (FSBO) and the seller refuses to pay the buyer’s agent.