Buying Your Next Home
Making an Offer
Once you have found the property you want, we will write a purchase agree-ment. While much of the agreement is standard, there are a few areas that we can negotiate:
What you offer on a property depends on a number of factors including its condition, length of time on the market, buyer activity, and the urgency of the seller. While some buyers want to make a low offer just to see if the seller accepts, this often isn’t a smart choice, because the seller may be insulted and decide not to negotiate at all.
The Move-in Date
If you can be flexible on the possession date, the seller will be more apt to choose your offer over others.
Often, the seller plans on leaving major appliances in the home; however, which items stay or go is often a matter of negotiation.
Financing and Insurance
A common condition attached to an offer is the buyer obtaining financing and insurance.
We recommend our buyers get prequalified before their home search, it will eliminate disappointment of finding a home beyond your means. A mortgage approval should take only a few days, but it’s probably best to allow up to two weeks. During this process, the lender will do a credit check and spot check other information you have provided. In addition, an appraisal of the value of your home may be obtained.
You’ve found the home of your dreams, but your insurance company won’t cover you. That’s a scenario we want to avoid! We will make this a condition of your offer.
Buyer Costs to Consider
No two transactions are ever the same. The following information is only a guide and not a guarantee. Please confirm actual costs with each service provider. We recommend that you have 1.5 to 3.0 % set aside for the following expenses.
- Lawyers Fees – Title Insurance, Survey, etc
- Mortgage Fees
- Interest for first month adjustment
- Property Taxes
- Broker Fees
- Home Inspection
- Moving Costs
- Land Transfer Tax
- New Appliances and Furnishings
You’ve found the right house, made an offer and it’s been accepted. What’s next? This list will help you prepare for moving day!
- Obtain financing and insurance
- Book home inspection
- Confirm lawyer
- Book moving company
- Gather packing supplies
- Change your mailing address @ canadapost.ca.
- Start Packing
- Notify: Utilities, Organizations, Friends, Bank, Credit Cards, Newspapers, Magazines, Government (drivers license, health card etc.) Doctors, Dentist, etc.