Buying a Property
You have decided to buy a home. Congratulations! Home is where the heart is, where memories are forged. It can also be a great investment. If this isn’t your first home purchase, then what you read here may be old hat, but there is always room for a little refresher.
Having a good understanding of the steps in buying a home, and the associated costs are all of utmost importance. This is one research avenue for you in your quest for knowledge about the home buying experience. I hope you find it helpful.
Choose a REALTOR®
There are lots of real estate agents to choose from, so how do you find the agent that is the right fit for you? When you have a home to sell (and that may be a step to making your next purchase) it is likely you will choose an agent by interviewing a few to ascertain which agent has the qualifications, knowledge, professionalism, marketing experience and personality that makes sense for you. Interviewing is also a good idea when looking for the right agent to act as your Buying Agent.
You will have a lot of questions to ask your real estate agent, and they should also have many questions to ask you. You and your agent will get to know each other well so having someone that you are comfortable working with, as well as someone with that meets all of the professional criteria, will make the home buying experience just that much better. Your agent will know what is important to you in this new purchase, what your objectives and goals are, and get you there.
You will want a real estate agent who has the confidence to tell the accurate story of the current marketplace and how your objectives align so that you will be successful. They are your barometer of the marketplace, your guide through the many steps of buying a home, and your creative architect in putting you and your new home together.
A knowledgeable real estate agent will:
- Convert your home wish list to practical goals
- Educate you about the current market
- Collaborate with you based on your price, location and needs requirements to ensure that your goals are met
- Choose homes for you to view that best fit your parameters
- Provide expertise on neighbourhood, schools, lots, strata-titled properties Write a clear, enforceable contract for your agent
- Guide you through the due diligence period – or “subject to’s”
- Coordinate and act as liaison for other service professionals involved in your home purchase on your behalf
- Problem solve on your behalf and keep the process calm
- Get you to the finish line!
When choosing real estate agents to interview ask friends, family and business associates if they have any recommendations. Check in the neighbourhood that you are considering to buy in and see if anyone stands out. Research profiles and information on-line. Does a prospective agent have a good reputation both with the public and peers? Your agent should be honest, have integrity, be highly ethical and always provide full disclosure and transparency to you at all times.
Here is a brief list of questions you may consider asking a prospective real estate
- How long have you been a licensed REALTOR®?
- Do you view this as your career?
- How many clients have you worked with this year?
- How many clients do you actively work with on average? What services do you offer?
- What is your business philosophy?
- How available are you?
- What sets you apart from other Agents?
- Do you have a team of experts you can recommend (i.e lawyers, inspectors etc)? Do you have testimonials I can read?
- And if they don’t ask – ask them “Do you have any questions of me?”. And if they don’t ask you any questions – question that.
> Go to Step 2
