Saturday, April 21, 2012

Avoid First Time Buyer disappointments

David Pylyp House Buying Family Toronto
With so much information available online IF a buyer takes a moment to inform themselves or Let's ask a few First Time Buyer Questions;

  • Are you prequalified for a Mortgage   How much can we spend?
  • Have you investigated a Home Inspector or will Uncle Bob suffice
  • Do you have a lawyer to close your transaction?
  • Have you selected a professional REALTOR who can answer your questions and guide you through all the steps in your transaction
  • Yes. Buyers Agency Is Required
  • Who is Responsible?   I am 

There is no side step, no shuffle, no bouncing; No Mississippi Two Step; I co-ordinate everything and attend your closing. I deliver your keys.
Buying a home means bouncing between three professionals — realtor, banker and lawyer — whose efforts you’re responsible for coordinating. It helps if you understand what’s going on. Often we didn’t, instead counting on the person we were dealing with to prompt us on the next step.
So what do you need explained?

A complete worksheet is provided for you, so that you have absolute clarity in your home purchase and the required expenses (plus applicable taxes) House Closing Cost Calculator This displays monthly operating costs based on the various down payments that most people select.
House Closing Costs Toronto

Additional Calculators that I always use in the course of our relationship are the First Time Buyers Rebate Calculator provided by Stanley Gelman QC   This simple tool deals with situations where one partner has owned before while the other may qualify for a First Time Buyers Rebates.

Try for yourself;  Actual Legal Closing Fees plus Tax Rebate status.  LTT Rebate Calculator

When you are considering stepping into the Toronto real estate market,  think long term ownership, Do you have a firm grasp on the costs of ownership, whether its condo or a detached house?  Have things explained to your satisfaction. Ask the agent you are working with;  IF they will provide you an EASY OUT if we don't get along.   I will.  What about a Satisfaction Guarantee if you are unhappy with your home selection?

Websites like Buying in Toronto  have search fields by topic to assist you in your topic search.  Other sources are CMHC and the Canadian Real Estate Association.  I have workbooks available immediately if you would like. Fact Sheets, tool kits and resource video material is available to prepare you for your home purchase adventure.

Work with a full time REALTOR on your home purchase.  We are used to answering questions.

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