FIRST TIME HOME BUYERS...
Before you start your home search book a fee Buyers consultation.


WHAT YOU NEED TO KNOW...

 
 
THE BUYING PROCESS...
Buying a home can be an overwhelming and stressful experience. It is important to understand the buying process when purchasing a home. Before you do anything you need to acquire a Letter of Commitment from your bank or mortgage broker. The Letter of Commitment is lending guarantee that states the amount of money you can borrow, the interest rate and the allotted time period to complete an Agreement of Purchase and Sale.
 
It is also necessary to sign, at the first possible moment a "Buyers Representation Agreement". This will protect you and give you a better understanding of the role of the Buying Real Estate Agent as opposed to the Listing Agent, and will explain which Agent is representing who in the offer presentation.

It is important to review with your Agent the "Agreement of Purchase and Sale". Your Agent will give you a better understanding of what is involved in this agreement, simplify the legal jargon and explain in laymen's terms to give you a better understanding of this contract. You need to make sure there are no surprises!!! 
You also need to understand the "Multiply Offer" situation and "Dual Agency". Make sure your Agent is working for you.

Before you start your home search, it strongly suggested you contact a Real Estate Lawyer and have a brief consultation to get the necessary information that you will need regarding the legalities of a home purchase. You need to understand the costs involved for buying a home, i.e. Lawyers fees, Land Transfer Tax, and Title Insurance.  

 
Liabilities and representation of the Home Inspector - You need to have a clear understanding that the "Home Inspector" is a neutral party. He/she does not represent the Buyer or the Seller. The sole purpose of the Home Inspector is to provide a detailed report as to his/her findings of the home and the approximate costs for repairs or replacement.