Bill White

When buying your home, determine what you want:

On a scale of 0 to 5 rate the following characteristics most important to you in a home and neighborhood

Large Kitchen		Family Room/Great Room		Fireplace
Master Ensuite		Walk in closet		Finished Basement
Garage (# of doors)		Close to Schools		Close to Public Transit
Close to Shopping		Quiet Street		Large Back Yard
North/South View		East/West View

Specific Requirements

# of Bedrooms
# of Bathrooms
Style of Home:	Single Dwelling
	Duplex
	Condo
	Townhouse
	Acreage

 

Checklist When Hiring a Realtor

• Do they specialize in any particular part of the market?
• Do they focus more on a buyers or sellers market?
• Will you be in control of the process?
• How much do they know about the community that you want to buy in?
• What assurance do you have that they will service your needs?
• Do they have testimonials from prior clients or letters of recommendation?
• How will they keep you informed?

Mortgage

Get a pre-approval letter for a mortgage. Mortgage factors to consider:

• What type of mortgage is best for you?
• How much should your down payment be?
• Are you eligible for an RSP homebuyer withdrawal?
• Is there a fee for mortgage application and appraisal?
• Documents needed to secure a mortgage include:
A copy of real property report or for a new home, builders plan, lot size location.
• Copy of offer to purchase.
• Documents confirming employment, income & source of pre-approval.

Home Inspection (Recommended)

By hiring a home inspector prior to purchase, you will protect one of the most important investments of your life. A home inspection will reveal the structural and mechanical soundness of your home. The report will advise you of:

• Existing and potential problem areas.
• Suggested solutions.
• Cost estimates for any work required.

Closing

Set aside enough funds to close your deal.
Closing expenses include:

• Legal fees.
• Legal disbursements.
• Tax closing adjustment.
• Utilities closing adjustment
• Property inspection (recommended but optional).
• Deed and mortgage registration.
• Real Property report
• Land transfer or property purchase tax.
• Mortgage interest adjustment and takeover fee (if applicable).
• Utility and cable connection charges.
• Home and property insurance coverage.
• Mortgage insurance coverage.
• Life.
• Disability.
• Moving expenses.

On Closing the Deal

• Schedule mortgage payments and property taxes.
• Secure insurance coverage.
• Transfer utilities.
• Arrange move.