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When you enlist my assistance under a Buyer Agency Agreement, I will provide you with:
Initial Consultation - your personal objectives and needs are determined
Financing - professional and result-oriented mortgage qualification assistance if needed
Listing search - listings from the Toronto Real Estate Board Multiple Listing Service based on your personal preferences
Appointments - schedule viewings and visit each and every home with you. Based on experience, I will point out pros and cons that may enhance or decrease the value of the subject property.
CMA - conduct a comparative market analysis in order to determine the best approach to negotiation.
Offer - preparation of the Offer to Purchase with your best interest in mind
Negotiation - professional representation when negotiating with the seller and the seller’s agent.
Advice - I will be available for any questions or concerns you may have, and will return your call as soon as possible, but never later than 24 hrs.
The following steps represent the buying process in detail:
1. Find the right agent
One of the best ways to find a great real estate professional is to ask a close friend or family member if they can recommend someone. You can search online, in the yellow pages, or simply call a number from a sign, however, you will not have valuable details on attitude, professionalism, punctuality, people skills, and overall experience.
Determine what is important to you. Is it availability? Sometimes you just want to see a place “right away”. Is it language? If you prefer not to communicate in English, most likely you will be able to find someone who speaks your language. There are some essential traits any quality agent should possess, including the ability to listen, professionalism, punctuality, good negotiation skills, and a positive attitude.
2. Decide what type of home you are looking for.
Depending on your personal preferences there are many options available. You can choose among many options, including:
Detached or semi-detached home (more privacy and land, but more Expensive and requires extensive maintenance
Freehold townhouse (semi-private, still feels like a house. Requires More maintenance)
Condo-townhouse (same as townhouse, except for the monthly condo-fee that covers certain portions of maintenance)
Condominium (less privacy, however, a lot less maintenance)
You can choose between a new or a resale home, each has its own pros and cons. New homes in Canada offer a warranty through Tarion (www.tarion.ca) . Innovation in construction has played a very important role in making homes more energy efficient than ever. You can also personalize your future home by choosing all the colors, amenities, and appointments.
Resale homes in general have more land than new properties due to changes in land-use patterns. Buyers often have more room for negotiating the price of sale. Of course, the main advantage of a resale home is timing. You may have to wait a long time for a new home to be built.
3. Find out how much you can afford and borrow
Dealing with a professional, attentive mortgage specialist takes tremendous amount of weight off your shoulders. They play an essential role in your transaction. He or she will go over your finances in detail in order to determine how much you can comfortably afford without becoming “house-poor” (when you are left with little or no discretionary income after paying all house-related expenses).
4. House-hunting
This is one of the most exciting parts of the whole process. You get to explore the market while fine-tuning and realizing what is really important for you. Make sure your agent is fully aware of all your needs and requirements. Never hesitate to give feedback. When you have good communication flow with your agent, you will find the what you are looking for much faster.
5. The offer
Once you found the right home, it’s time to put in an offer. Proper preparation of the offer including the amount is critical. It is your agent’s responsibility to know the market conditions and circumstances in order to set the price that will maximize your value. The offer price should be set with your input and agreement.
6. Closing the deal
This is the most intricate part of a real estate transaction, as many steps have to be completed in order to satisfy both the seller and the buyer. Depending on the nature of the offer, conditions have to be met, which could include satisfactory home inspection and obtaining financing. You will need an experienced lawyer, a good home inspector, and your mortgage specialist to conclude the deal. |
