The Buying Process
Step 1. Building Your Real Estate Team
Your first string players are:
- The listing brokerage/REALTOR®
- The selling or cooperating brokerage/REALTOR®
- Insurance Broker
- Home security specialist
- Moving company
Understanding the parts each one plays will allow you to work with them in a mutually beneficial way.
Step 2. Selecting Your Real Estate Agent
Step 3. Understanding Agency Relationship
Your REALTOR® will work on your behalf to find you a house and will negotiate for it on the best terms possible for you if you retain the REALTOR® by signing a Buyer Brokerage Agreement.
Step 4. Getting Your Financing, Budgeting & Mortgages In Order
Step 5. SAGE Advice for Home Buyers
Step 6. Know Your Property Types
- A location near public transit.
- Building materials containing recycled content.
- Renewable energy sources such as solar power.
- Energy-efficient windows, appliances, and heating and cooling systems.
- Plumbing fixtures that reduce overall water usage.
- Rapidly renewing or recycled materials for interior finishes, such as bamboo flooring, wool carpeting, and countertops made from recycled metal or glass.
- Low-VOC (volatile organic compound) paints, carpet adhesives and sealants which limit emission of volatile organic compounds and thereby promote a healthier indoor environment.
- Native vegetation in landscaped areas or on a green roof.
- A landscaped irrigation system that recycles rainwater.
- Facilities for storage and collection of recyclables.
Step 7. Finding Your Home
- Three features a home absolutely must have in order for it to be in the running.
- Additional features that are essential for you.
- What else would really make you happy?
Step 8. Selecting Your Real Estate Agent
Sage Real Estate listings are featured with virtual tours, photo galleries, and individual listing websites.
Step 9. Using Collaborate
Step 10. Making an Offer
Step 11. Understanding and Preparing for Multiple Offers
HOW TO WIN
Step 12. Understanding Preemptive Bids (Bully Offers)
Step 13. Understanding the Role of Your Lawyer
- If requested, lawyers will consult with buyers to review the offer clauses. They will not recommend negotiation strategies but will ensure that the buyer understands the legal aspects of the offer.
- Detail exact closing costs.
- Search title.
- Search taxes, utilities, building and zoning, or order title insurance.
- Execution search.
- Mortgage and other financing arrangements.
- Verify insurance policy documentation.
- Calculate land transfer tax.
- Requisition letter to seller (requesting resolution of any problems found in searches).
- Address any provincial sales tax issues.
- Prepare mortgage documentation.
- Prepare statement of adjustments.
- Prepare documentation for land registry.
- Accept closing funds from buyer.
- Review and have buyer sign necessary documentation.
- With mortgagee, will exchange mortgage documentation for money.
- Meet with seller’s lawyer at registry office.
- Complete final searches.
- Transfer funds.
- Register deed and mortgage in buyer’s name.
- Pay land transfer tax.
- Obtain keys from seller’s lawyer.
- Send you a reporting letter certifying your title together with the deed, survey, and all other related documentation.
- Invoice you for services rendered.
Step 14. Get Insurance
PEACE OF MIND
WHAT IS IT?
WHAT IS IT?
WHAT IS IT?
WHAT IS IT?
SHOULD WE GET IT?
Step 15. Completing the Transaction
AND IT’S YOURS
Your Sage REALTOR® will work closely with you and your lawyer to make sure everything is in place for a smooth and efficient closing.
Typically, a day or two prior to the closing, your lender will forward all loan documentation to your lawyer and let you know the amount required to complete the purchase. You will be responsible for bringing the balance of your down payment and closing costs to your lawyer in the form of a certified cheque. At the closing, your lawyer will guide you through the many documents you need to sign.
Sage Real Estate’s goal is to provide you with the information you need to feel confident throughout this process.
In addition, if you have an existing home to sell, Sage Real Estate will customize a comprehensive marketing program to help you achieve the highest possible sales price in the shortest amount of time. For more information, ask your Sage REALTOR® or visit SageRealEstate.ca.