Let's do this the RIGHT way!
There is a right way and a "not so great" way to go about buying a property. The right way will be much easier to do and be far less frustrating. The right way will put you in control of the process and create the end result you were hoping for when you started the process. But there is a catch with the right way - you need an expert guiding your way....and that's ME!!
Supporting you every step of the way
Searching www.realtor.ca is a great way to clarify what is important to you in your purchase. Checking out prices in different neighbourhoods, confirming school locations and amenities will certainly help you determine styles of homes and particular areas you prefer. But you can do all of that without my help. I want you to have more options. Here's what I will be doing: Looking at FSBOs properties (For Sale By Owner), EXPIRED properties (homes listed in the past that are no longer on the market) and door-knocking unlisted homes in your neighbourhoods of choice. When you finally decide to move forward with your purchase, you will feel secure that no stone has been left unturned! I will then help you understand and construct a superior offer that will impress the Seller.
Negotiations now begin and this is where my thirty years of experience will bring about results that leave you secure (and thrilled) with your purchase. I will be by your side through the entire due diligence period and the closing process so you are never left wondering what is happening or what is coming next.
HOME BUYER'S GLOSSARY
AMORTIZATION SCHEDULE
The number of years it takes to repay the entire amount of the financing based on a set of fixed payments.
PreQualification
The determination of a Buyer's ability to obtain financing by a lender. A prequalification is based on the financial information given by the Buyer. The lender will evaluate this information and determine a mortgage amount that the Buyer would qualify for.
Mortgage
A mortgage that can not be prepaid or negotiated for a set period of time without penalties.
Dates: Completion, Possession, Adjustment
Completion Date: The date on which the property and the sale is registered in Land Titles office.
Possession Date: The date the Buyer receives keys and can move into the property.
Adjustment Date: The date all monetary issues cease to be paid by the Seller and begin to be paid by the Buyer (taxes, strata fees etc)
Deposit
A sum of money deposited in trust by the Buyer on making an offer to purchase. When the Buyer's conditions are removed, the deposit will be placed in trust with the Buyer's real estate brokerage, lawyer, or notary, until the closing date of sale, at which point it forms part of the purchase money given to the Seller.
Equity
The difference between the market value of the property and any outstanding mortgages registered against the property. This difference belongs to the owner of that property.
Term
The period of time the financing agreement covers. The terms available are; 6 Month, 1,2,3,4,5,6,7,10 year terms, and the interest rate will be fixed for whatever term one chooses.
