Buying

You have decided to take the steps to pursue a home of your own. Here is a brief reference guide to take you on your way.

Financing

For efficiency we highly recommend perusing your financial qualifications. This truly is the first step in understanding what you are capable of to ultimately make a purchase. This step will allow you to be fully prepared and aware when it comes time to make an offer. Before getting to involved in searching for properties this is the guiding step that will send you on your way.

Note: Mortgage Agents charge no fee to you the consumer.


Searching

You may be provided with a comprehensive list of homes/properties that meet the criteria of what you are searching for. The most effective means to communicate new listing information is via the Internet.

http://www.mls.ca is an excellent site to navigate new listing information.

When you have an idea of some of the properties that you would like to see, call our office with sufficient notice to arrange a tour. Some homes require a minimum of 24 hours notice.

Conditions:

At point of purchase you should feel secure in your financial arrangements, however this is still the most common condition, as lenders will want to assure the property that they are financing for you meets their requirements.

For Houses purchased the most common condition is a “Home Inspection”. This is effectively a complete inspection of the home from top to bottom. A home inspection is a visual diagnostic of the overall condition of a property. If an item of significance is found it allows the purchaser to re-consider moving forward with “firming up” the sale. Otherwise it allows you to become familiar with the needs of your future home and its current condition. This is typically to be carried out by a qualified and certified individual. You can anticipate a cost of $300-$500 for this process depending on whom you ask to carry out this step.


For Condominium purchase the most common condition will be a “condominium document review”. This service is comparable to that of a home inspection. This is an inspection of the operations of the corporation responsible for the physical property. This is done by examining such documents as the financial information, reserve reports, the condominium plan, any structural and mechanical reports, minutes etc. This process is similarly carried out by a registered and licensed professional and can anticipate a cost of about $300-$500.

Closing:

When Conditions are met and waived you will require the services of a lawyer to carry out your financial and land title transfers. Additionally a Lawyer will be able to further your legal understanding of your transaction, and protect you interests in your purchase. Legal fees vary and you may anticipate a cost of $500-$1200, again depending on whom you choose to work with.

Note: Rock bottom prices do not assure you are going to receive the same quality of service in what is likely the largest financial purchase of your life.

Reference/ Recommendation:


This is a general overview of the process of a transaction. Certainly this is not comprehensive and every situation is unique. We have established these references and recommendations through years of experience. These are names that we have come to trust as mutually working in the best interest of our clients needs. We do not receive referral fees from these sources, rather our reward is in assisting and guiding our clients with their own needs.

We are here to assist in making this exciting experience as enjoyable as possible. Please contact us at anytime.