How I can help you purchase your new home?
Home Buyers Consultation
Be Prepared Financially
Making An Offer
Buying your new home can be an exhilirating process, it is easy to be swept away in the excitement and make costly mistakes. You can’t wait to schedule viewings and get started ! In order to make the process as smooth as possible, I offer a free ‘home buyers consult’ session. At this meeting I walk you through the buying process, look at your wants and needs, discuss possible defects to look for and home inspection services. I will also discuss negotiation and show you the relevant paperwork involved.
In order to find the right home, informed buyers are prepared financially prior to looking. This means speaking to your bank or mortgage broker and finding out how much you can afford to pay for your home purchase. Whilst you may have no doubts in your mind as to whether you will meet the mortgage qualification criteria, it is always good to confirm it first and avoid any surprises you would not want to uncover further in to the home buying process
So, now our consult session is complete and you have your mortgage pre-approval organized, it’s time to start viewing! Realtor.ca is a great place to start your search for properties and of course, I do my own searches too for properties which tick the right boxes for you. I can also set up email alerts for you so you can see the latest properties to hit the market right away. Once a shortlist of properties has been drawn up, I will schedule the viewings for you and then we can head out and see some homes!
Once you have found ‘the one’ and want to make an offer, I will assist by ensuring your offer is at ‘fair market value’ and that you aren’t overpaying. I will also discuss the legal contracts again and highlight your obligations plus any conditions which need to be added to your offer. My goal is to see you pay a fair price by making a strong offer with a likelihood of acceptance. Also bear in mind that you pay nothing for my services, remuneration for a buyers agent is paid by the sellers.
Frequently Asked Questions
WHAT IS THE COST OF USING A REALTOR® TO BUY A HOME?
Employing the services of a Regina real estate agent when purchasing a home is a completely free service. The agent is paid from the proceeds of the sale once the transaction has been completed and possession has taken place. This fee for service is set between the seller and the seller’s agent at the time of listing the property on the MLS system and has no bearing on the sale price.
DO I REALLY NEED A REALTOR® TO BUY MY NEXT HOME?
When buying a home, using a Regina REALTOR® will help to alleviate the doubts and uncertainty most buyers experience during what can be a very stressful process especially if such as property defects are not spotted due to the excitement arising at the prospect of getting a new place. Having been extensively trained in negotiation and contract law among many other subjects in order to become licensed, we are able to handle the more complex issues that can arise and steer you in the right direction, always being impartial of course.
HOW MUCH DO I NEED FOR A DOWN PAYMENT?
The minimum down payment for a home purchase is currently 5%. So for a $300,000 property you would need a minimum of $15,000. Down payments of less than 20% of the purchase price are subject to CMHC Mortgage Loan Insurance which will also add an additional cost to your monthly payments. More information on CMHC Mortgage Loan Insurance rates can be found at their website
HOW DO I KNOW I’M PAYING A FAIR PRICE?
The easiest way to be sure you are buying at ‘fair market value’ is through market analysis. As your Regina REALTOR® I will complete a comparative market analysis prior to any offer being made. This will show properties in the area you are looking to buy and dollar adjustments are then made to align them with the property you are looking to purchase. Completing this process will ensure that you are making a fair offer for the home and not over-paying.
HOW MANY HOMES SHOULD I BE VIEWING?
If we have done a stellar job of building your ‘Needs & Wants’ list at our original consult session, you should be aiming at looking at 15-20 MLS® listings as a maximum. If you are going above that amount, a re-assessment of your requirements may be worth considering.
WHAT IF THERE ARE ISSUES ARISING FROM A HOME INSPECTION?
The main thing to remember here is no home is perfect and they all require ongoing maintenance. An inspection can throw up minor points such as broken light fittings, gutters in need of repair etc. However, structural and more major problems can arise including furnaces, air exchangers and shingles. These can all be costly repairs to address and it your right to re-negotiate or walk away. This only highlights the importance of writing conditions in to any offer you make on a property and a responsible Regina REALTOR® should be advising you of this at the time.