Buying a new home, whether it’s your first or your last, is an exciting and important investment. I will coordinate your property needs with my in-depth market analysis in your preferred area to come up with properties that will most closely match your ideal home.
My comprehensive knowledge of the market, my friendly, informative, no-pressure approach and my use of the latest technology will provide you with proven results to make the search for your new home as enjoyable as possible.
I drive my buyers all over the place
I will help you complete your financing and inspections, and close on the transaction. My top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.
Get a Pre-approved Mortgage Certificate
A pre-approved mortgage certificate is a written commitment that you will get a mortgage for a set amount of money, at a specific rate of interest that is guaranteed for 60 to 120 days depending on the financial organization you choose. The commitment is made subject to a financial assessment and property appraisal. The service is free and without obligation.
The Offer to Purchase
The Offer to Purchase is a legally binding agreement between you and the person selling the house. It sets out:
1. your name
2. the seller’s name
3. the address or legal description of the property
4. the price you are prepared to pay for the home
5. the items you expect to be included in the purchase price
6. the amount of your cash deposit
7. your financing arrangements, such as your mortgage
8. the closing date
9. specific terms or conditions that must be met as part of the purchase
10. a time limit for meeting these conditions
When your offer is accepted
When your offer has been accepted, finalizing the details of your mortgage and closing the purchase of your new home.
Call your Mortgage broker. He will need to receive the following documents and information:
1. a copy of the real estate listing
2. a copy of the accepted Offer to Purchase
3. information on the source of your down payment
4. income verification if you are employed
5. a letter from your employer verifying your place of employment and income, or
6. T4s and Notice of Assessment, or
7. T1 General Tax Return and Notice of Assessment
8. income verification if you are self-employed
9. 3 years of Financial Statements and 3 years of Notice of Assessments, or
10. 3 years of T1 General Tax Returns and 3 years of Notice of Assessments
Your Mortgage broker will need to verify the value of the property you are buying, your current financial picture and your credit history, so a property appraisal and credit report will be ordered.
Also, if your down payment is less than 25%, you will need to qualify for a high ratio mortgage on which you would have to pay insurance premiums. You decide whether you want to pay the premium in cash or have your lender add it to your mortgage amount. Your Mortgage Representative can contact Canada Mortgage and Housing Corporation (CMHC) or GE Capital Mortgage Insurance Company of Canada (GEMI) to make the arrangements.Be prepared to pay fees for the mortgage application, credit report and property appraisal.
Closing the Purchase
Closing day is the day you become the official owner of your home.
Typically, you visit your lawyer’s office to review and sign documents relating to the mortgage, the property you are buying, the ownership of the property and the conditions of the purchase. Your lawyer will also ask you to bring a certified cheque to cover the closing costs and any other outstanding costs. Once your mortgage and the deed for the property are officially recorded, you become the official owner of the property.
Sometimes my buyers become my friends and we join them food and cutting a rug.
