Advice for Buyers

Finding a home is not easy. It takes planning and lots of research work. With Jenny by your side, the process can be simplified.

1. Things to Consider Before Starting Your Search

What Features Do You Need?

Do you need an extra bathroom, a garage, a fenced backyard, a short drive to work? Once your list is complete, decide what’s most important to you.

What's the Ideal Location?

This is one of the most significant influences on the value of your home. Even so, make sure to consider such things as distance to work, schools, shopping and entertainment.

What Kind of Home?

Determine what type of home best suits your desired lifestyle and budget.

What's Your Budget?

How much do you want to spend?

2. Choosing a REALTOR®

A REALTOR® can help you answer all of these questions and help you navigate through what can be a complicated business transaction.

3. Searching For a Home

A REALTOR® will use various tools to try and find properties that meet your specifications.

4. Seeing Houses

When you select a property and decide to visit a house, there are many things to consider:

  • condition of the property
  • size and layout
  • features included
  • location
  • budget, etc.

5. Making an Offer

Once you find a house you want to make your home, your REALTOR® can help you develop an offer. In the offer, you should specify how much you're willing to pay. State when the offer expires and suggest a closing date for the transaction. You can also propose some conditions on the offer. Some common types of conditions are:

  • Getting a suitable mortgage
  • The seller having title to the property (your lawyer will check this out when she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions);
  • An inspection by a qualified home inspector, those services are available for a reasonable fee and
  • Any inclusions of appliances and other items - basically, what stays and what goes.

You will need to present a deposit along with your offer. An appropriate deposit will show your good faith to the seller.

6. If Your Offer is Accepted

After your offer is accepted and all conditions met, the offer becomes binding on both sides. If you later refuse to honour the agreement, you may lose your deposit or might be sued for damages. Before signing, make sure you understand and agree with all terms of the offer.

Before the property can formally change hands, there are still a few things to do. Be prepared to furnish proof to your lender that you’ve insured your new house. On or before closing day, both side’s lawyers will arrange to transfer title of the property from the seller to you. The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.

At this time, be sure to check with your lawyer that everything is as stated in the offer-to-purchase.

Extra Expenses

No matter what type of home or property you're buying, plan on some extra expenses.

  • A land transfer tax (a sales tax on property) in certain provinces
  • A mortgage broker's fee, if applicable.
  • An appraisal fee, if applicable.
  • Surveying costs
  • Adjustments from annual utility bills, property taxes, monthly maintenance fees
  • Legal fees

 

Some Facts About Jenny


Medallion Club

MLS Medallion Club Member

Jenny is consistently one of the top 10% of all realtors in the Greater Vancouver area.

Over 10 years experience

Jenny has upwards of 10 years working in the real estate industry in the Greater Vancouver area.

Hundreds of satisfied clients

Jenny's clients have entrusted her with all their real estate transactions.

Do you have more questions?

Contact Jenny
Royal Pacific Realty

Royal Pacific Realty

#550 North Tower, Oakridge Centre
650 W. 41st Ave., Vancouver BC Canada V5Z 2M9

Phone

Landline: (604) 266-8989
Mobile: (604) 908-8877

Contact Form

Fill up the contact form or email me.