Buying a HomeIf you are in the market for a new home, then you have come to the right Realtor. Here is some helpful information, and if you require any further advice, feel free to get in touch with Brian for a personal consultation.
Determine What You Can Afford
- Purchasing a home involves a lot of one time expenses.
- The largest one-time cost is the down payment. It usually represents between 5-25% of the total price of the property.
- In addition to the actual purchase price, there are a number of other expenses that you might be expected to pay for. These are listed in the following table:
Typical One-time Expenses
Understanding Market Conditions
The Major Elements of An Offer
Depending on local market conditions, your opinion of value and market information provided by Brian as your Royal LePage Real Estate Professional, the price you may offer may be different from the seller's asking price.
The deposit shows your good faith and will be applied against the purchase of the home when the sale closes. As your Royal Lepage Real Estate Professional, Brian can advise you on an appropriate amount.
Includes the total price offered, and the financing details. You may arrange your own financing or ask to assume the seller's mortgage, especially if it has an attractive interest rate.
These might include "subject to home inspection", "subject to you obtaining financing" or "subject to you selling your property."
(5) Inclusions and Exclusions
These might include appliances and certain fixtures or decorative items, such as window coverings or mirrors.
(6) Closing and Possession Date
Generally, the day the title of the property is legally transferred and the transaction of funds finalized unless otherwise specified.
How To Make An OfferWhen it comes time to make an offer, as your Royal LePage Real Estate Professional, Brian can provide you with information that will assist you in drafting your offer.
Brian, as your Royal Lepage Real Estate Professional will communicate your offer, sometimes known as an Offer To Purchase*, to the seller, or the seller's representative, on your behalf. Sometimes there may be more than one offer on a property coming in at the same time. Brian can guide you through this process.
The offer can be Firm or Conditional.
Firm Offer To Purchase: usually preferable to the seller, because it means that you are prepared to purchase the home without any conditions. If the offer is accepted, the home is yours.
Conditional Offer To Purchase: means that you have placed one or more conditions on the purchase, such as "subject to home inspection", "subject to financing" or "subject to sale of buyer's existing home." The home is not sold until all of the conditions have been met.
* Offer To Purchas: a legal document which specifies the terms and conditions of your offer to purchase the home.
Some Moving TipsOnce you have purchased your home, here is a handy checklist that can make the move easier for you:
(1) Book the Movers:
You can choose to have your movers pack everything, or just the breakables, or you can pack yourself. It is a good idea to obtain estimates from several different companies.
(2) If You Own Your Present Home:
Arrange to have your gas, water, and electric meters read on the day you leave and have the bills forwarded to your new address.
(3) If You Rent Your Present Home:
Give the necessary written notice to your landlord and make arrangements for the return of any money you have on deposit.
(4) At Your "New" Home:
Make arrangements for the gas and electric utilities, water softener, telephone, and cable TV to be connected on the day the sale closes.
Get "Change of Address" cards from the post office and send out well before moving day.
Thinking of Buying?
We understand the relationship between homebuyers and Agents must be based on trust, mutual goals and understanding–this is why we always keep your interests first and foremost. The real estate process requires negotiation of complex issues; we are committed to working in your best interests. We will help you secure the best possible price, with the most favorable terms, in the shortest period of time.
When searching for your dream home, it’s important to be well informed of the Real Estate market. To help you with this process, consider the following factors: What features do you require in a home to satisfy your lifestyle now? Five years from now? Will your needs change? What’s your budget? These are decisions only you can make, but we will do everything possible to match you with your dream home.