BUYING & SELLING
Before you begin the search for your new home, determine your needs and implement this step-by-step plan to make this process less stressful before you hit the streets. From choosing the type of home best suited to your needs up to the day of moving, this Buyer's Guide ensures an enjoyable experience.
Determining Your Needs
What does your future lifestyle hold? How many bedrooms will you one day require? Your preschoolers will be teens some day. Are you planning to stay in your home that long? Determine your needs before you move in. So, you've decided you want to own a home. It's a popular dream. For most people, with the right planning, it can become reality. But there is a lot to know before you begin moving. We'll take you through the planning process step-by-step to determine exactly the kind of home that's perfect for you.
Arranging a Mortgage
Learn the ins and outs of mortgages. What are your different options? What is a pre-approved mortgage? Everyone wants your business, but it's up to you to look after your interests. A mortgage is made up of two parts: principal and interest. Principal is the actual amount borrowed. Interest is the lender's fee you are charged for borrowing.
You'll have to decide on an amortization period (the length of time it will take to completely pay off the mortgage) and the term, or length of time each mortgage agreement guarantees the interest rate.
Before you go to a financial institution or mortgage broker, keep in mind that there are many mortgage options available. Shop around for the best rates and the best terms. Negotiate. Everyone wants your business, but it's up to you to look after your interests. Of course, the key thing to remember is to negotiate a mortgage that fits into your lifestyle, and doesn't take over your life! Your mortgage broker can help guide you through this process and supply you with information.
Congratulations! You've found the perect home. But, this can be the most stressful part of your buying experience. When you've found your home, you will make a formal, written offer to purchase. This is a legally binding contract outlining what you will give (a combination of price and terms) in exchange for the home. Your associate will probably use a pre-printed form covering all of the legalities and will modify it to cover what you want to offer.
Remember, everything is negotiable. You should ask for what you want, but keep in mind what you're willing to give up. Our office will put everything in writing. Of course, the more contingencies in your offer, the less attractive it will be to the vendor. In a buyers' market, that's OK.
The vendor may counter your contingency with an escape clause. For example, the vendor may wish to continue showing the house and, if they receive another offer, you'll have the option of backing out or removing your contingency.
Closing day is here. Who's involved and exactly what goes on? Relax, all of these details are outlined right here for you to read. Our office and your lawyer will give you the details on steps and timing. This is the day on which all of the legal and financial promises in the offer are met. It's the day when you get the keys and begin a new phase in your life. All of the small details will be taken care of ahead of time, so in most cases, it will be just a day of waiting by the phone.
What to expect on moving day? Making a moving checklist and calendar will make your move worry free. Saying good-bye to one neighbourhood and discovering a new one is an exciting adventure. But let's face it, at the end of your home-buying process, you may find yourself exhausted. After all, the other obligations in your life have not paused.
What's more, now there's another cost -- moving. Whether you hire professionals or strong-arm friends into helping, be prepared for the cost of the move.
Whether renting a truck or hiring professionals, it all needs planning. We will offer you options regarding professional movers and leave the decision to you.
Did you remember to call the utilities in advance? We provide a list for you with numbers where you can reach the Gas, Hydro and Phone companies and set up new accounts and schedule final meter readings.
You will typically receive your keys to your new home some time in the late afternoon on the day of closing. Legally, the sellers will have until 6 p.m. to vacate the property.
Remember to check all the appliances to see that they work. If anything is broken or missing, you must contact your agent as soon as possible.
The best advice we can offer is to ENJOY your new home!
Thinking of selling your home? Get the answers to the most commonly asked questions. How do I determine the best price? When is the best time? What are the costs? Before you begin the selling process, really evaluate why you're moving. Follow these guidelines and talk to me.
Thinking of Selling
There are a million different reasons why people sell their homes, but before you begin the selling process, really evaluate why you're moving. All sellers have one thing in common: the desire to get as much money as possible from their existing residence as quickly and as hassle-free as possible. (If your home is your principal residence, you won't have to pay capital gains tax on any profits from the sale. If, on the other hand, it is an investment property, prepare for the tax man!)
Do you have too few rooms or too many? Has your job moved to another scity and you're relocating? Are the neighbours driving you away? Or are you simply looking for a change? A complete analysis of your current position will set a good foundation for your next home search.
Take control of the selling process - choosing the right agent, the listing, understanding the market conditions and determining the correct selling price. It's all easy when you're informed. I am a trained professional who knows all aspects of the real estate market. I will save you time, money and aggravation.
As with purchasing a home, you want to list with an agent who is the expert in your location. After all, potential purchasers will be calling this "area expert" to inquire about houses for sale. There will be a few of them who are knowledgeable about your neighbourhood. Give them a call and interview your potential agent. You need to feel comfortable with him or her. After all, they will be working for you.
Marketing Your Home
Learn how to objectively evaluate your home. Work with me to position your home on the market to sell quickly and hassle-free. While we all believe that our home is our castle, our personal tastes may not appeal to everyone. I will work with you to give you an impartial analysis of your home - how it relates to other "competing" homes on the market and how your home reflects current design and style trends. I will also take a good look at the general condition and upkeep of your dwelling.
Overall, I will work with you to position your home on the market so that your sales experience will take place as expeditiously as possible.
Know what to expect and take stress out of the transaction by getting some insight here. When it comes to bargaining and persuasion, I am one of the top in this field. After many discussions, I will know the minimum conditions, acceptable closing dates, and lowest price you'll accept from a potential purchaser. Make certain to leave some leveraging power with chattels you're willing to agree to in the offer.
By knowing your parameters, I can work with the potential purchaser's agent to create an offer that will be acceptable to you. After all, it comes down to bargaining and persuasion.
You've accepted the offer but, just because your house has sold, that isn't the end. Learn what's leeft to do before you move. OK, chances are it's not a quiet period. It will be a time of frenzied packing and reorganization. Just remember not to pack anything that you agreed to sell! And unless you specifically mentioned certain fixtures, everything must remain in place.
You are responsible for handing over the home in the same condition it was at the time of purchase. This applies to everything that was agreed to in the agreement. If the home suffers a major calamity, you are responsible for telling the purchaser, at which point the purchaser may walk away from the deal and have the deposit returned. The purchaser may also choose to close and receive any insurance proceeds. In this unfortunate event, remember not to make any repairs until you find out what the purchaser wants to do.
CENTURY 21 Percy Fulton Ltd., Brokerage*