GETTING PRE-APPROVED

Getting a pre-approval from a mortgage broker is one of the most important first steps in the process of buying a home.  It helps you to establish what you are qualified to spend, and a good professional broker will clarify all of the details around money and closing costs with you.  There are so many different products offered by lenders today, that it is important to work with someone who knows about all of them, and can narrow the choice down to the few best ones.

If you already have a pre-approval with your bank, that is great!  I would highly recommend though, that you get a pre-approval through a broker also.  You may be required to come up with less paper work, or may qualify for a larger mortgage, or a better interest rate with different lenders.  I would be happy to refer you to a highly regarded mortgage broker.

DOWNPAYMENT & DEPOSIT

The minimum deposit expected in real estate is 5% of the purchase price.  This deposit is usually due upon removal of condition precedents (or subjects) for the contract of purchase and sale.  This means that usually you are not expected to come up with any money for the purchase of a home until after you have an agreed upon contract, accepted by all parties, and have had your chance to do your due diligence (such as review of building documents, inspections, etc).

This deposit is held in trust by the selling brokerage (my company), until closing, at which point it is forwarded to the lawyer handling the completion of your sale.  This deposit makes up part or all of your down payment.  You may choose to withdraw money from your RRSP as part of your deposit.  This is allowed for first time buyers, income tax free.  You need to re-pay this debt to your RRSP within a set time.

THE RIGHT PEOPLE

The professionals who are most commonly associated with real estate purchases are:

• Your Realtor – representing you, and your interests.
• Your Mortgage Broker – setting you up with a pre-approval, and obtaining financing once you have selected a property to buy.
• Your Home Inspector – a great idea, particularly for older or questionable buildings, and detached houses.
• Your Lawyer – will explain your mortgage to you, handle the transfer of funds and title.
• Insurance Broker – remember you will need home owners insurance, as you are responsible for your property at 12 Noon on your possession date.
• Foreign Exchange – if you are from outside of Canada, you will likely be transferring funds from a different currency.  My company uses the services of Custom House for the transfer of deposit money.  You will find them exceptionally easy to deal with.

THE SEARCH 

Fortunately I have cutting edge tools to help you narrow the list of possible properties quickly, efficiently, and faster than other buyers in the marketplace.  I have the systems and strategies to find you the right home in any market.

In addition to all the tools available on this website, I also can set my buyer clients up with a Personal Client Service website. This website is indispensable in your home search, as it saves you time, money and energy, by tracking all listings that match your search criteria, and keeping them in a concise list.

As soon as a property that matches your search criteria is loaded into the MLS database, you will get an e-mail notification that your site has been updated.  In your site, you keep a list of properties that match your search, if you don’t like them, you can remove them.  If you do, the site will keep track of their status.  We work as a team.  You will preview the properties and remove the ones that you feel do not fit your real estate goal.  When you see something you like, you can e-mail it directly to me, with one click, and I can make it a priority in our viewing schedule.

This site will show you all of the listing information that is missing on MLS.ca, including room sizes and mapping.  Also, you may not be aware, but the public MLS.ca is about two days behind the Realtor database.  I provide listings in real time, so that you are ahead of the real estate market in general, and receive the listing sooner than the buying public.  My service makes you and I aware of these properties first.  This can be critical, as the amazing properties often have accepted offers on the before they even hit the public site.

Once we have an idea of which properties look the best, I will set up showings for all of the best ones.  We will have a look at several back to back, so that we can see between three and five in a two-hour window.  I will take care of all of the planning and booking of appointments.  I can meet you at the property, or pick you up.

I have a good understanding of which buildings are good, and which ones have issues or challenges facing them.  Also, understanding what you are looking for in lifestyle directly relates to what neighborhoods I would expect to see at the top of your list.  You can rely on me for advice on these important considerations.

It is important during our search that we have quick efficient communication with each other.  Let me know the best way to reach you quickly, so that if I need to get in touch with you to set up a same day showing, we can do it.  I use cutting edge contact and communications management tools, and can e-mail, call or text you.

YOUR PURCHASE

I will be there with you from start to finish.  When it comes to the day when we find the property that works for you, I will there, providing guidance, information on comparable sales, ensuring that the offer we are preparing is reasonable, and that you are not over- paying.  I will be there to negotiate with the seller and their realtor, and build strategy that will get you into your new home with terms and conditions that work for you.

Once we have an accepted contract in place, I will be there to ensure you get all of the information necessary in order for you to be able to do your due diligence.  I’ll let you know what to look for, and what you need to be aware of.   This includes building documents such as bylaws, budgets, minutes of meetings, etc.  I will gladly put you in touch with the professionals you’ll need in order to fully check the property out.  Often lenders ask for specific documentation.  I’ll be sure that your mortgage broker gets everything that they need as quickly as possible so that they can do their job.

Once you have had time and opportunity to do your due diligence, and have obtained a confirmation that you have financing in place, it will be time to remove conditions on your offer.  At this point your deposit money will be due.

After everything is in order, and subjects have been removed, the home is yours.  Our work together is substantially done until closing.  All of the documents will be forwarded to the lawyer.

CLOSING

On the day of completion, your lawyer will handle the transfer of money, and title.  Following that, possession, which usually follows a day or two after completion.  You customarily will get possession as of 12 noon on that day.  I’ll be there to make sure you get keys, we’ll do a walk through, and make sure that everything is in order and clear for you.

CONSISTENT SERVICE AFTER CLOSING

I take pride in my work, and place a high value on my clients.  Real Estate is a business built on relationships with people, and I make it a priority in my business to be available and in touch after your purchase, and do my best to ensure that we stay in touch.  If you have any questions down the road, I am here to help, as your go to resource in Real Estate.