Buyer's Home Purchase Guide
Okanagan Buyer's Corner
Whether you are a first time buyer, moving up in the real estate market, or downsizing, it is important to have an experienced, qualified sales representative working for you. Choosing a Real Estate Professional is one of the most important decisions you will make to ensure the success of your venture. As your "Local Expert" my market knowledge will help you select the property that meets all of your needs. .
Get Mortgage Pre-Approval
A mortgage pre-approval not only helps you determine what you can reasonably afford, but also improves your status as a buyer. With Kelowna's current market conditions right now, an offer placed by a pre-approved Buyer is attractive to a Seller because it minimizes the risk of the sale falling through because of a lack of financing. It saves everyone time and money. Pre-approval of a mortgage is when your lender has reviewed all your financial information and has determined the maximum amount of money you can borrow. Many banks and financial institutions are competing for your business so it makes sense to shop around for a mortgage. Most lenders will reduce their posted interest rate so don't be shy about bargaining. Your ability to negotiate a lower rate and a flexible mortgage will often depend on how much business you have with your. You can contact banks and credit unions directly, or my preference is to work with a mortgage broker. Typically, a mortgage broker will assist you in finding a suitable lender as they deal with several financial lenders at a time. Mortgage brokers use their contacts within the mortgage industry to negotiate the best mortgage package available.
Searching For A House
Once you have determined what your criteria in a home must be, I begin sending you up to date listings as they hit the market. As a matter of fact, my automatic e-mail system is so efficient you will be able to view the latest listings as soon as I see them. This gives you as the Buyer a distinct advantage over other Buyer's as you can preview these new properties before they even hit the general public on the MLS system or print media.
Purchasing Your Dream Home
The "Contract of Purchase and Sale is initiated when an offer is made by the Buyer to purchase a Seller's property. The contract outlines the terms and conditions of the offer, such as offer price and any subject conditions. The seller may reject the offer or make a counter offer. Once all terms and conditions have been accepted and both the Buyer and the Seller have signed the contract, each party is legally bound to fulfill the conditions of the contract.
I will assist you throughout the entire "Contract of Purchase and Sale" process. Together we can compare what neighbouring properties have sold for recently and then discuss what amount to offer, as well as terms and conditions that best suit you as the Buyer. I then will present the offer in person (as often as the Seller allows it) to the Seller with their agent present. I truly enjoy the negotiation process on a property and always have you as my Buyer best interests at heart.
Once your offer has been accepted, I will help you navigate through the contract and assist you in making sure all terms and conditions are met, satisfied and concluded in a timely manner. I am always there to explain your options and address any question(s) that you may have. I will provide you with a list of suggested professionals to help you deal with the final steps of legal requirements before the completion of the transaction.
Some of the professionals you will need to hire prior to completion are:
- Lawyer or Notary Public
- Home Inspector
- Insurance Company
- Moving Company (or if moving locally I provide a free moving van).
Once you have moved into your new home and have started familiarizing yourself with the new neighbourhood, you will receive a call from me. I follow up with all my Buyers to ensure they are satisfied with their purchase and to iron out any issues they may have come across. At the end of the day my desire is to have exceeded any and all expectations that my clients had from the very beginning of their home search process.
CENTURY 21 Assurance Realty Ltd.
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