Buying Real Estate ~ Guide de l'Acheteur

Your Needs Come First

Buying a home can be an exciting and yet demanding process.
The search for just the right property followed by the legalities of offer, counter-offer and then closing.

Our Goal- Finding and then buying the right home or an investment property for you, at a reasonable price.

I will work with you through every step of the buying process.
Through me, you also have the full resources of Macdonald Realty working for you.

My job is to help you make informed decisions, with confidence, all along the way.

I will take the time to really understand your needs, and will work hard to help you find the right property for you.

As your agent, I will represent your best interests.
I will help you get you the best price possible, and help smooth the closing process and possession of your new home.

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The Buying Process

- Your needs
- Features and location
- What can you afford?
- Current listings
- The offer (and counter-offer) negotiations
- Inspections
- Insurance and mortgage funding
- Closing
- Possession

Your Needs

Your needs will be our search guide.
We start by creating a prioritized list of features you want in your next home, and the reasons why.
A big consideration here is location - neighbourhood, schools, shopping, health and recreation facilities, etc.

I can help focus your choices, with my local knowledge of specific neighbourhoods in the context of larger market trends.

Link: Features and location checklist

What Can You Afford?

Now that we understand what you want, it's time to see what you can afford and what your monthly payments will be.

You can even crunch the numbers yourself.

I recommend that every buyer get "pre-approved" for a mortgage loan not "pre-qualified"

Getting "pre-approved" is important, because:

- You will know how much you can afford to spend and what your monthly payments will be.

- All of your information has been checked and verified. Which means that you are actually approved for the loan.

Link: Mortgage calculator

Current Listings

Once you know where you'd like to live and have an idea of what you can afford, it's time to start checking out actual properties.

We will discuss current listings in your desired neighbourhood(s) and price range(s).

A helpful tool is our online MLS listings search function. It even has an automated email feature that is triggered when new properties meeting your specific criteria are listed.

Next, we will visit homes in person.

I will arrange all your property visits, including private showings if necessary.

Tip: When comparing properties, be sure to look at all aspects. How do property taxes compare? Age? Renovations? Street traffic? Size? Bedrooms and bathrooms? Use of space? Stairs? Nearby amenities? Property easements? Mortgage encumbrances? Given the variables involved, it is important to keep an open mind when house shopping.

Link: MLS listings

The Offer and Counter-Offer Negotiations

Once you find the home you want, you need to make an offer.
This is a legally binding process.

I will guide you in formulating the offer, which I present, and then guide you in the ensuing counter-offer negotiations.

For both the buyer and the seller the decisions involved in making the offer and negotiating can be extremely emotional.
Buying or selling is one of the largest financial commitments of anyone's life.
It is important to do it right.

This is why, in most cases, it is far better to have your realtor present and negotiate the offer.
In this regard, with my market knowledge, I am truly in the best position to look out for your best interests.

Tip: If you have any personal interaction with the homeowner (or their realtor), don't give out any information about your move, current
housing status, financial situation, or your feelings about the property - positive or negative.
This could hurt you in any negotiations.

Tip: The difference between closing the purchase of your dream home
and starting the whole process all over again, is what happens during the negotiations.
It is here that I can help the most.
It is here that you will most need the skills and knowledge of a professional realtor.

Inspections

To make sure that the buyer (you) are getting what is being paid for, a typical offer will be subject to satisfactory buyer inspections.

Once your offer is accepted, I will provide referrals and coordinate the necessary inspections
(including plumbing, electrical, building quality, title, pests, etc.)
and help you understand the results.

There are many potential problems that can be discovered here including:
foundation problems; wall cracks; drainage concerns, water leaks;
roofing, plumbing, or electrical problems; mould damage, insect damage, etc.
Should such problems be found, it is not necessarily a "deal-breaker".
Typically, repairs can be made that make things as good as new.

I can guide you here and negotiate the practical and mutually agreeable solutions to permit the sale to proceed.

Insurance and Mortgage Funding

You will also need to arrange for homeowners insurance and finalize the mortgage funding.
Should you require it, I can help with referrals to qualified insurance and mortgage professionals.

Closing

I will work with you to ensure all the necessary paper work is completed. Of particular concern here:
- Clear title
- Mortgage advance and funds escrow
- Homeowner's insurance
- Subject removals
- Other items required under local and provincial law

The objective is to complete the closing on time, which will trigger payment to the seller and title conveyance to you. Delays could result in financial penalties, or even the collapse of the deal and forfeit of your deposits.
I will work tirelessly on your behalf to make your closing happen as smoothly as possible.

Immediately prior to closing, we will generally conduct a final "walk through" of the property. This is to make sure that you are satisfied that all items are completed as agreed.

Closing costs are typically the responsibility of the seller.

Possession

It's official - you own a new home!

Most new owners have a few things that they want to do before laying out the welcome mat.

I can help you with referrals to arrange for an alarm system, electricity, TV and telephone service, newspaper subscriptions,
cleaning or replacing the carpet, arranging for gardening services, etc.

This could also be a good time to consider undertaking any needed renovations.

North Vancouver Profile

Population 135518 (District 87518 - City 48000)

Unemployment 5.1%
Population Change 2.4%
Average Dwelling Value $380,095

West Vancouver Profile

Population 46000

Unemployment 5.3%
Population Change 1.3%
Average Dwelling Value $625,279

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