Let Me Help You Every Step Of the Way.
When you decide to buy a home, either to live in or for investment, you will be faced with many choices and decisions. It is an exciting process and one way to grow financially. Once you own a home you will have the power to make your own improvements and renovations as well as feel the pride and rewards of doing so.
This is not necessarily an easy process. In fact, you may even consider it a part time job for a time. You may feel the excitement wane as you go through the process. There will be many people to deal with and many questions to get answered. This said, at the end of the process, the rewards you can achieve are unquestionable.
A REALTOR®’s job through this process is to make this process of finding and purchasing a home more enjoyable, easier, less time consuming, and less expensive. A REALTOR® will help you to locate and assess properties that match your specifications and guide you through the myriad of details to achieve this goal. This includes writing the offer to purchase and the negotiations on your behalf to get you the best possible deal. Unless you are already very knowledgeable about the area you are looking in, having a REALTOR® who knows that neighbourhood is important. If Matt does not have the neighbourhood knowledge that you want, he will be upfront with you. If you wish he would be happy to refer a knowledgeable REALTOR® for that area.
Matt Brabbins has helped many buyers find their home.. Check out his biography, mission statement, and testimonials. Matt has the experience, knowledge, and integrity to make a huge difference to you in the process of buying a home.
STEP 1 – Making Sure You Are Ready and Determining Your Needs
Although buying a home almost always seems like a great idea, it is important to know what this involves. Being a homeowner gives you the advantages of:
- Stability – Never a fear of a landlord eviction
- Control – You can decorate as you like and get a dog if you want
- Security – Your home builds your own equity, not your landlords
However it is important to consider the disadvantages as well:
Money – Upfront costs including down payment, taxes, etc, followed by ongoing mortgage payments as well as upkeep and maintenance costs and taxes
More responsibility – If you own a house you are responsible for all repairs and maintenance.
Creating a list of your ‘needs’ and your ‘wants’ is a great first step. Some points to consider may include:
Location – which city, which neighbourhoods, busy vs. quiet street, what nearby amenities, schools, transportation, etc
Size of home, # of Bedrooms and Bathrooms
For condos, insuite laundry, # of parking spots, gas F/P, recreation facilities, etc.
It would be a good idea to separate needs and wants. Most of these features you desire will be desirable to other buyers as well increasing the demand and therefore, perhaps the price you pay for them.
STEP 2 – Mortgage Preapproval
This is a very important step to take prior to viewing homes. Having an accurate indication of your affordability level will help you in many ways.
1) It gives you a realistic top price you are able to pay.
2) It allows you to negotiate from a more powerful position. A seller will consider an offer from an approved buyer more favourably than one not approved. You will not have to show the seller your price limit but a good realtor will be able to use the fact that you are preapproved to your advantage.
3) And you will receive a written confirmation for a guaranteed interest rate for a specific period of time. This advantage has proven to be a very valuable piece of paper for anyone buying in times of interest rate increases.
Feel free to chat with me about this process.
STEP 3 – Calling Your REALTOR® To Begin The Home Finding Process
This step can be done in parallel with getting a mortgage pre-approval. Because your REALTOR® will likely play the most important role in finding your home and guiding you through the process of buying, you will want to be sure you are comfortable with him or her. Perhaps the best way to convey how this can be of benefit to you is to quote his personal mission statement. You can be sure that Matt endeavours to make all your dealings with him pressure free.
Part of this process will include a review of your list of needs and wants. As you go through this with Matt, he can use the computer to find potential homes that would meet these criteria. He will likely have extensive knowledge of some of the homes you would consider. Often he has been through the home or even has been involved in the sale of the property in the past. This experience can clearly be an asset to you.
STEP 4 – The Search
This process is different for everyone. Here you view all the homes that you think may suit your criteria and affordability level.
If you have Matt working for you, you will evaluate each home with him. As you view the homes Matt will try to point out the pros and cons of each. Sometimes I see things about the home that will come up in an inspection. If these things would cause you to eliminate the home from your search then this would save you the time and money of an inspection. If they are things you could live with, at least temporarily, then you can use them during the negotiation process to achieve a lower price for the home.
As new listings that fit your criteria come on the market, Matt will inform you about them immediately.
STEP 5 – The Negotiation
You have found the home you want. Now you need to write a contract and negotiate the terms. This is likely the step where Matt’s experience gives you the greatest edge. First off, you want an enforceable contract written, not one that leaves the seller open to arbitrarily terminating it (for whatever reason). Terms include the price, dates, included items, conditions, and much more. Matt will go over this in detail with you so you are very comfortable with every aspect. You will go over many items that may be new to you including but not limited to, the title search, a disclosure from the seller, all conditions (for example, “This offer is conditional upon the Buyer approving an inspection report”, etc.), and all terms.
STEP 6 – Due Diligence
At this point we have an accepted offer with conditions. These conditions have a time period (for example: one week) in which, if not fulfilled, the accepted offer becomes null and void. During this time period Matt will work together with you to ensure the home will work for you.
This usually includes:
1) Having a home inspection,
2) Having the home appraised,
3) Verifying the home is insurable. For non-strata properties, most lenders insist on seeing an insurance binder prior to giving you mortgage funds,
4) For a strata property, reviewing minutes of council meetings, by-laws, Form B, financial documents, etc
5) Approval of a title search,
6) Approval of the sellers disclosure.
Other conditions may be written into a contract to ensure certain needs you have can be met. We can discuss these options at any time during this process.
STEP 7 – Conveyance and Keys
On the day specified in the contract of purchase, your lawyer or notary will assemble the funds for your purchase, arrange for the transfer of the title to your name, and send the funds to the lawyer or notary working for the seller. At the same time that this is happening, Matt will be working to arrange keys for your new home. He will set up a time with you to meet you there to go through the home ensuring it is everything you expected.
For Matt, this is the happiest, most exciting times of his job. His fulfillment comes from seeing the joy and excitement on his clients faces as they walk into their new homes.Get in Touch with Matt