Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step first time buyer’s guide created by Todd will help reduce the stress of buying a home and help you enjoy the journey as much as possible.
Choosing The Right REALTOR®
When it comes to choosing a great real estate agent, your best bet is someone who focuses on the job full-time, and who really knows the area, the property type and (if you're buying a condo), the specific buildings you're interested in. You need a full-time, specialist agent who has the skills, tools, and expertise to help you navigate today's competitive marketplace.
This is where Todd stands out: knowledgeable, experienced, and smart - all while staying completely focused on helping you achieve your real estate dreams.
Serious skills: Deep insights into the real estate market. Negotiation expertise. Solid property assessment strategies can help you understand if a property is of good value. These are just some examples of what our agents bring to the table. Property.ca Inc. agents are also big believers in educating our clients - and always making the buying experience as clear and stress-free as possible.
At Property.ca Inc., our agents possess specialized expertise in specific neighbourhoods, property types, and buildings, and bring an insider's understanding of local trends and data.
Each agent is backed by our dedicated in-house team that handles paperwork, marketing, and other essential tasks, allowing them to focus entirely on finding you the perfect property. Our agents also have access to a trusted network of real estate professionals, including lawyers, mortgage specialists, contractors, and moving companies, ensuring a seamless and comprehensive experience from start to finish.
A Buyer Representation Agreement is a legal contract that grants your REALTOR® the exclusive right to represent you and offer expert advice. By signing this agreement, you become a client of Property.ca Inc., Brokerage, gaining access to a higher level of service and commitment. The document clearly outlines the fiduciary duties and obligations your agent owes you, ensuring they act solely in your best interest. Without this agreement, your agent can still offer customer service, but they aren't legally obligated to prioritize your needs. But don't worry: your agent will guide you through the terms and conditions to ensure mutual understanding and agreement.
Creating Your Personalized Buying Plan
When you choose to work with Property.ca Inc., your agent will design a tailored plan that aligns with your specific property preferences, desired neighbourhoods, and budget. You'll receive custom listing alerts,
ensuring you're the first to know about new properties that match your criteria.
Securing Your Mortgage Pre-Approval
Getting a pre-approval ensures you know exactly how much you can afford, giving you confidence as you begin your search. We strongly recommend getting pre-approved before starting your property search to avoid the disappointment of falling for homes beyond your budget. Need a mortgage specialist? Your Property.ca Inc. REALTOR® can connect you with trusted professionals.
Choosing the Right Neighbourhood
Finding the perfect neighbourhood starts with exploring a variety of areas and properties to see what resonates with you. While it's easy to become set on a specific neighbourhood, expanding your search can lead to discovering hidden gems in places you might not have considered. Your Property.ca Inc. agent will provide valuable insights, including average prices, trends over time, comparisons with similar properties, and much more. And remember: you can visit our websites - property.ca, condos.ca, and mrloft.ca - to conduct your own research.
When selecting a neighbourhood, consider what matters most to you. Are local shops and restaurants within walking distance a priority? Do you need access to parks for running or walking your dog? Are good schools a must? Is proximity to transit or highways essential? Here's a quick checklist to help you identify your must-haves:
Finding Your Perfect Property
Our info-packed websites make it easy to search by price, property type, size, neighbourhood, and more. You can also use advanced filters for square footage, parking, and condo amenities, and set up alerts for new listings that match your criteria.
Your Property.ca Inc. agent may even know about listings before they hit the market, giving you a competitive edge. Plus, all our sites provide access to values, trends, and historical sold data, so you can make informed decisions and buy smart.
Making an Offer
Once you've found the right property, it's time to make an offer. Your Property.ca Inc. REALTOR® will help you assess the property's market value and develop a strategy based on current conditions and competition.
In a sellers' market, they might suggest offering above asking or making a bully offer to get ahead. In a buyers' market, offering below asking or adding conditions might be more effective. Your agent will draft a strong written offer, known as the Agreement of Purchase and Sale (APS), which includes:
Finalizing the Sale
Once the seller accepts your offer, you're nearing the finish line! But a few crucial steps remain before you officially become a homeowner. Your Property.ca Inc. REALTOR® will assist in fulfilling any conditions outlined in the offer within the specified timeframe. And, your lawyer will review and sign the final documents, register the property in your name, and ensure all closing costs are properly transferred.
Do I need a real estate lawyer?
Absolutely - a real estate lawyer is essential! They safeguard your interests and finances and can address any issues with the seller or the property. If you don't already have a lawyer experienced in real estate, ask your agent for a referral. They can recommend a reliable and proven professional.
Closing Checklist
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Todd Armstrong approaches real estate with dedication and keen insight, backed by a steadfast commitment to his clients. Known for his sharp negotiation skills and a deep knowledge of the real estate dynamic market, Todd crafts a tailored strategy for every client.
