THE REAL ESTATE BUYING PROCESS

MY COMMITTMENT

In today's competitive marketplace, an educated and confident buyer is the key to successfully closing a deal and I will help you get there.

I am dedicated to helping you find an investment in Real Estate that is going to work for you. I will provide you with updated listings on a regular basis that are most suitable to your needs and wants. I know how to listen so you can assure that when you are working with me I am committed to understanding what is important to you in acquiring Real Estate. Once I have helped educate you on the local Real Estate market and we have found you an ideal investment, together we will confidently write an attractive contract of purchase and sale that protects your interests.

Once you have an accepted offer you can be sure that I will handle all follow through during the period between the acceptance of the purchase agreement and the closing. I will guide you along the way to satisfying conditions and will help handle any situations that may arise, and keep you informed on the various closing procedures.

I make the process of purchasing a home easier, more enjoyable, and less time-consuming than if you undertook this challenge on your own.

DETERMINING WANTS VS. NEEDS ( top )

Start by thinking about what area you would like to live in, what size and style of house you are looking for, and separate all your "must haves" from your "want to haves" because this can be helpful in determining your overall buying objectives.

UNDERSTANDING YOUR BUDGET ( top )

Once you have covered the basics then you need to establish a budget. This process will help you figure out if you need to re-adjust your "must haves" and "want to haves". By getting pre-approved from your local bank or through a mortgage broker in your area, you will know what your buying position is prior to beginning your search. Reviewing your financial details creates a picture of what you are likely able to afford given your particular circumstances. It is recommended to have a down payment of 5-10% of the purchase price but there are options available. I can help you get connected with a number of different lenders in the area to help you arrange your mortgage financing. This step is very important in today's competitive market place.

LEARNING THE MARKETPLACE ( top )

After you have been pre-approved for a mortgage, I can help you locate specific properties that match your needs. I have extensive market knowledge and access to a number of databases that allow me to keep up to date with all current listings and past comparable sales in the area. Once we begin looking at suitable properties together, we won't stop until we have found a property that is a perfect fit for your needs. At this stage you will be well educated as a buyer and prepared to write an offer with confidence when the right property becomes available.

MAKING AN OFFER ( top )

Once we have found a property that suits your needs together we will review and discuss all of the available information about the property. Once you are comfortable, we will write a legally binding Contract of Purchase and Sale. This contract will put forth the price that you are willing to pay and may contain a number of conditions that will protect your rights as a purchaser. An offer to purchase that is subject to specific conditions, for example, the outcome of a home inspection, usually stipulates a time limit within which the conditions must be met.

Your offer will be presented to the Seller by the Seller's Agent and one of three things will happen. 1.) Your offer will be accepted as presented. 2.) Your offer will be countered with some changes to either the sale price, the terms of the offer, or a combination of both. 3.) Your offer will be refused. If your offer is countered you will have an opportunity to either accept the changes, counter with additional changes, or withdraw from the contract all together. Prior to making your offer I will discuss what can happen in a multiple offer situation and help you prepare for this scenario. As your Buyer's Agent I will protect and promote your interests and advise you every step of the way.

LEGAL REPRESENTATION ( top )

Having a lawyer to help you understand the legal aspects of purchasing Real Estate is a must. Purchasing a home involves a lot of paperwork, consisting mostly of contractual documents that are legally binding. Your lawyer will search the property registration records and discuss any items that may appear on the Title such as; liens, easements and right of ways that have been registered against the property. Your lawyer will also draft and file documents for transferring Title from the Seller into your name, make adjustments for any property taxes, electrical bills, and will advise you on any other relevant legal matters. For this reason it is important to have a lawyer acting on your behalf to protect your rights and interests. I can point you in the right direction to make your initial contact with legal representation.

HOME INSPECTIONS ( top )

I highly recommend having a home inspection done because it will determine the structural and mechanical soundness of the home you are considering purchasing. Your home inspector can identify existing and potential problem areas, suggest possible solutions and provide estimates for the cost of the work required. You will receive a report outlining the inspection findings. You should accompany the home inspector during the inspection or arrange to meet them at the home so they can walk you through the report. If as a result of the inspection, you have further concerns, have a specialist in that area conduct a more extensive examination.

Costs vary depending on a number of factors including: size and location of the home, features, age, and services required. I can assist you in obtaining a quote from a potential inspector before you enlist his/her services. Spending a few hundred dollars before you buy could help you avoid purchasing a property that will require thousands of dollars in repairs once it is yours. It's best to know what you are buying so there are no surprises down the road.

If your Contract of Purchase and Sale contains conditions, your obligation as a purchaser is to satisfy those conditions in a timely fashion as set out in the contract. I will help you coordinate with home inspectors, lenders, lawyers and all other team players required to ensure that you stay on track.

Once you have done your due diligence and are completely confident, we will remove all of the conditions and your offer to purchase will become a firm sale.

TYPICAL EXPENSES ( top )

There are many costs that home buyers incur that you should expect to pay. Some of the expenses related to buying a home are one-time costs, while others are continuing costs.

Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent only 5 - 10% of the purchase price. However, you should be prepared to pay some additional costs, such as:

· Legal Fees & Disbursements
· GST and PST (if applicable)
· Property or Land Transfer Tax
· Adjustments (reimbursed to the vendor)
· Interest
· Property Taxes
· Utility Payments
· Strata or Condominium Fees
· Estoppel certificate fee
· Survey Fee
· Home Inspection Fee
· Water quality and quantity certificate
· Appraisal Fee
· Mortgage broker's fee (if applicable)
· Mortgage Loan Insurance Premium (if only 5% down)
· Mortgage Loan Insurance Application Fee (if only 5% down)
· Moving Expenses
· Renovations and repairs
· Furniture, paint, carpeting, window coverings, etc.
· Service and Utility Hook-up Fees
· Property / Condominium Insurance
· Mortgage Application Fee
· Deed and / or Mortgage Registration Fee

Additionally, once you have purchased your home, you will incur regular expenses on a monthly, quarterly or yearly basis. Some of these costs include:

· Mortgage Payment
· Water and/or Sewer Payments
· Electricity and Gas Services
· Cable and Telephone Services
· Property Taxes
· Strata or Condo Fees
· Repair / Maintenance Expenses
· Homeowner's Insurance