Thinking of Buying?
BE A SAAVY BUYER
Why Buy With Us
For most people, their home is the single biggest investment they will ever make. The single biggest asset they will ever own. No wonder buying one tends to stress people out!
It doesn’t need to. If you have good advice and someone who knows what they're doing in your corner. Someone you can trust - it will be fine!
So the first thing you need to understand is, having us in your corner is FREE. You heard right. FREE. In most cases, our fee is paid for by the Seller of the home you purchase. But that doesn't mean we work for them. Relatively recent changes in the Real Estate industry have provided for Buyer's to hire their own representative, to act and negotiate solely in their best interests, despite being paid by the Seller.
The old days of us having to tell the Seller all of your secrets in negotiations is over! Now with the introduction of the Buyer Representation Agreement - we work for you and you alone - and are bound by law to keep everything you say strictly confidential. That means we can truly be your trusted advisors without you needing to worry about your words being used against you.
Dianna has successfully completed a specialized training program and worked diligently to earn the designation of Accredited Buyer's Representative so that she can provide a higher level of service to Buyer Clients than is widely available. In addition, if you're a mature client you'll be pleased to know she has specialized training in dealing with your unique needs and what we should be looking for in your next home that will help you have the retirement you dreamed of.
It starts with a 1 hour complimentary consultation (no-obligation!) where we can assess your needs and budget and you get answers to the questions you have. If we're a good fit - you "hire" me as your Buyer's Agent.
We will search out homes that meet your criteria and budget, sending you any new listings often within minutes of them coming on the market. No more constantly scanning the internet. See something you like? We'll schedule and attend showings with you - most times with the seller not present so you can speak and look around freely - no more randomly driving around looking for Open Houses.
When we find the one - we take care of the offer. Recommend appropriate inspections and inspectors. Ensure you’re completely confident with your purchase and then finalize the deal. We then liaise with all the involved parties and oversee all of the transactional details to ensure a smooth, stress-free closing!
I even have awesome movers! So see - no stressed-out people here!!
BECAUSE I CARE
What to Expect
01.
AN EXPLANATION OF THE PROCESS
We never assume, even if we've worked together before, that you know or remember all of the ins and outs of the Buying process. We will go over the steps from start to finish. Over the Offer paragraph by paragraph. In plain language so that you are confident with what you're signing.
02.
AN ASSESSMENT OF YOUR NEEDS
At our Initial Consultation we will work to understand your motivations for moving, time lines, financial constraints and personal issues that might play a part in the decision making process to make sure we not only find the right home, but make a plan that is in your best interests long term.
03.
A PLAN TO FIND YOUR PERFECT HOME
We will work together to determine your Needs, Wants and Wishes. Maybe you are downsizing. Would a bungalow would work best as you age? Seeking a certain neighbourhood? Proximity to schools or work? Absolutely have to have a pool? Garage? Hate cutting grass? We will compare your needs, wants and budget with what is available on the market and make recommendations that save you time and effort.
Then we will go and view houses and we will help you assess their suitability and price. As experts who spend hours every day looking at homes, we know what to look for to spot problems early. We can point out upgrades that are uncommon in that price point and factors in the home and its design that may or may not work for your family but that you may have overlooked.
05.
KNOWLEDGE OF FINANCING OPTIONS
We have extensive knowledge of the financing choices available to home buyers and their options and obtaining financing at the most attractive prevailing rates and terms. We also understand the pitfalls and know a few tricks to possibly save you thousands of dollars. One of the first steps we recommend all our Buyer clients take is to get pre-approved through one of our preferred Mortgage Brokers. Whether or not you have met with someone at a bank. Knowledge is power and experience has proven it's a call worth making.
04.
ACCESS TO PROPERTIES FOR SALE
MLS® is an exclusive service accessible only through a REALTOR® and it can be a valuable tool. Through MLS®, the details of a wide variety of listed properties are made available to the REALTOR® you work with. That can save you a tremendous amount of time and effort in your hunt for the right home. The information that we have access to is different than what is available to the public on www.Realtor.ca and I am notified of new listings immediately, not days later.
08.
HIGHEST PROFESSIONAL STANDARDS
After obtaining her Real Estate Licence, Dianna went on to challenge the Broker exam process successfully. She then attained specialized training and study in Buyer Representation, Seller Representation, Staging, Negotiations and the specialized needs of mature clients over 60+. She completes continuing education courses annually to stay on top of changes in law and regulations. Additionally, she attends conferences across North America and at home to network with industry leaders. Her specialized interest in rural and waterfront property issues, has seen her attend training on well water, septic systems and shoreline issues. We stay up to date to ensure we provide the highest level of duty and care possible to our clients.
07.
HONESTY & INTEGRITY
When you work with us, you can expect not only strict adherence to provincial laws, but also adherence to a Code of Ethics. And that code is very important to you, because it assures you will receive the highest level of service, honesty and integrity. Additionally, we carry Errors & Liability Insurance as well as Deposit Insurance, so you are provided the maximum level of protection throughout your entire transaction. Dianna is not only a member of OREA and CREA, but an Accredited Member of the BBB with A+ rating.
06.
A SKILLED NEGOTIATOR
After countless hours of specialized training on the subject and decades of experience, Dianna is a well-seasoned negotiator and Certified Negotiation Expert. She will shrewdly negotiate your offer, acting as a mediator to head off potential conflicts between you and the seller, and draw up a legally binding agreement. Trust us when we say, there is more to argue about than price.
09.
AFTER SALE SERVICE
The transaction may be done, but that doesn't mean we are. It our goal for you to be our client for life. As we work almost entirely by referral, we make it our mission for you to be so happy with the help that we provide you, that you can't wait to introduce us to our next client. All clients are automatically enrolled in our Client Appreciation Program and we are always available to help you in any way we can, even years after the sale!
Real Estate Calculators
JUST SO YOU KNOW
Elements of an Offer
PRICE
Depending on current market conditions, how accurately the home you want to buy is priced and other information we'll discuss, the price you offer may be different from the seller's asking price.
DEPOSIT
Your deposit shows good faith and will be applied against the purchase of the home when the sale closes. It counts as part of your downpayment but must be given at the time the offer is made or immediately after it is accepted in most cases.
TERMS
This would include the total price offered, financing details, things you might want the Seller to do before you move in, time limits, how the transaction will be handled etc.
CONDITIONS
These might include "subject to home inspection", "subject to you obtaining financing", or "subject to you selling your property". On country properties we may also want to deal with things like water, well and septic system.
INCLUSIONS & EXCLUSIONS
Things that are physically attached to the home traditionally are included in the purchase price while things like appliances, vanity mirrors, TV mounts are negotiable. Conversely, if there are items that you want to ensure are removed before you move in, such as an old fridge in the garage, this is how we would make that happen.
CLOSING OR POSSESSION DATE
Generally, the day the title of the property and the money changes hands between Buyer's Lawyer and Seller's Lawyer. This does not necessarily have to be the day you move in.
THE NITTY GRITTY
Making an Offer
When it comes time to make an offer you will be thoroughly educated on the current market. Together we will have viewed enough homes for you to be confident in the value of the one that you are considering purchasing. We will additionally provide you with further data and information on the history of the particular home you want, as well as other comparable sales. We will explain the differences in the other properties vs the subject property and how that affects value. When we know not only what the house is worth to you, but what its objective value is, together we will draft your offer making sure that your interests are protected at every step of the way.
We will then present your Offer to Purchase to the Seller, or the Seller's representative, on your behalf. Sometimes there may be more than one offer on a property at the same time. This is known as Multiple Offers. We can expertly guide you through this process.
FIRM OFFER TO PURCHASE
Usually preferable to the Seller because it means Buyers are prepared to purchase the home without any conditions. Not particularly safe for the Buyer.
CONDITONAL OFFER TO PURCHASE
Usually means there are one or more conditions on the purchase, such as "subject to home inspection", "subject to financing" or "subject to sale of buyer's existing home". The home is not sold until all the conditions have been met. At that time, it will become firm and binding and the SOLD sign will go up on the lawn. No take-backs!
ACCEPTANCE OF OFFER
An Offer to Purchase is presented to the Seller. They may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, closing date, or any number of variables. Offers can go back and forth until both parties have agreed to terms or either side ends the negotiations. When we have an Accepted Offer, the deposit is generally due.
If you would like more information or have questions on making an offer or on buying a home contact me.
BE PREPARED
Closing Costs
Ah - the dreaded closing costs!
Closing costs are the list of charges your lawyer presents to you on or near the closing date of your home. Many people (not our clients!) are surprised at the additional costs over and above the price of the home when they show up to sign the papers. According to the CMHC and Genworth Financial you should have at least 1.5% of the purchase price for closing costs in addition to the down payment. The costs vary among provinces and cities. Toronto for example has double the land transfer tax as other municipalities in ON.
Below is a brief explanation of these costs. Please note these are some of the closing costs you may encounter depending on your specific situation. Use this as a guideline then talk with your mortgage broker who can provide a more realistic estimate for your situation. Or ask us!
APPRAISAL FEE
An appraisal provides the lender with a professional opinion of the market value of the property. This cost is normally the responsibility of the Buyer and it can cost between $100 - $400. Due to higher instances of mortgage fraud, site Appraisals are becoming more and more popular everyday around the GTA. Sometimes your lender will waive the fee - if you have the right agent in your corner.
HOME INSPECTION FEE
A professional inspection of the home, top to bottom, is for the benefit of the Buyer. A home inspection can cost anywhere from $300 - $700 and is well worth the investment. There are also additional services that you may choose to pay for at time of inspection based on your specific circumstances, such as: Mould Detection, Air Quality testing, Thermal Imaging, Radon etc. For first time homeowners this can be especially valuable as you will be educated on seasonal and preventative maintenance that can save you tens of thousands of dollars down the road.
HOME INSURANCE
Mortgage lenders require a certificate of fire insurance to be in place from the time you take possession of the home. The amount required is generally the amount of the mortgage or the replacement cost of the home not including the land. Costs will vary on the property size, amount of coverage, the insurance company, neighbourhood and risk factors that may be present such as wood stoves or old wiring; from $800-$1800 annually for most properties. Many insurance companies offer a discount if you bundle it in with your car insurance and most offer a monthly payment plan.
MORTGAGE INSURANCE
High-ratio (non-conventional) mortgages with less than 20% downpayment require insurance against default to protect the lender. The premium is usually rolled into the mortgage and varies between 1% - 3.25% plus PST, depending on how much you are putting down. Variable rate mortgages often incur an additional charge of .25% but is often times quite worth it depending on interest rate differences.
TAX ON MORTGAGE INSURANCE
If your mortgage is insured, (CMHC or Genworth Financial), you will be required to pay the applicable taxes on the insurance premium on closing. While the insurance premium can be added to the mortgage amount, the tax must be paid at closing.
TITLE INSURANCE FEE
A recent survey of the property is usually required by lenders. If one is not available the cost can range between $1000 - $3000 for a new survey. In lieu of the survey most lenders today will accept title insurance which can cost considerably less. Regardless of the existence of a survey, talk to your lawyer about how Title Insurance protects you from Mortgage Fraud. We strongly advice all of our clients to purchase a policy.
LEGAL COSTS AND DISBURSEMENTS
Lawyers charge fees for the services involved in drafting the title deed, preparing/discharging the mortgage, and conducting the various searches. Disbursements are out-of-pocket expenses incurred during the process such as registrations, searches, photocopying and supplies. Typically, a lawyer will charge between $900-$1400 for a purchase and slightly less for a sale.
LAND TRANSFER TAX
Most provinces charge a land transfer tax payable by the Purchaser. Land transfer tax is a sliding scale based on the purchase price. First time home buyers purchasing a new home may be entitled to a discount. To learn more, visit Land Transfer Tax.
HST
HST is usually payable on the purchase of new construction homes only. If you are buying a new home, make sure you know who pays this, you or the builder. On resale purchases the offer will say "HST in addition to" or "HST Included in". Talk to us if you have questions as to whom has to pay the HST in your transaction.
CLOSING ADJUSTMENTS
An estimate should be made for closing adjustments for bills the Seller has prepaid such as property taxes, utility bills, and other charges. The biggest example of this is Property Taxes. If the Seller has paid the taxes beyond the date they will live there, you will owe them a refund for the number of days they have overpaid. The opposite is true if you move in and the tax bill hasn't been issued yet. A lawyer will let you know what they are once the various searches have been completed.
MOVING EXPENSES
Moving costs will vary depending on whether you are hiring professional movers or asking your friends to help you out and renting a truck. Boxes and packing supplies, cancellation and/or hook-up of utilities, mail forwarding service and take-out meals should be budgeted for.