Ontario Buyer’s Guide

BUYER'S GUIDE

YOUR GUIDE TO HOME

INTRODUCTION

Buying a home is often a stressful process.

However, if you know what to expect you can avoid a lot of common mistakes and ensure that things go as smoothly as possible.

In this guide, we'll cover what to consider when buying real estate, including how to find the perfect home for you and your family and how much it will all cost in the long run!

Raven, China & Kim

about US With more than 40 years of combined experience, our family team is dedicated to making your real estate journey as smooth and enjoyable as possible. As four licensed REALTORS® — Kim, China, Raven and Terry — we bring a wealth of knowledge, strong relationships and a genuine commitment to helping clients feel supported from start to finish.

Each member of our team plays an important role. Kim, China and Terry are hands-on with clients, guiding them through showings, negotiations and every step of the buying and selling process. Raven is based in Victoria and licensed in both British Columbia and Ontario, expanding our reach to the West Coast while providing client care and support behind the scenes.

ELENA CLARKSON ELENA CLARKSON We are also fortunate to have Lisa, our long-time administrative assistant, who keeps everything organized and running Real Estate Manager Real Estate Manager smoothly. Behind us is the outstanding support of Sutton Group Select Realty, led by our broker Dylan, ensuring our clients receive the highest level of service.

Over the years, we’ve had the privilege of helping more than 1,000 families find their perfect home or move on to their next chapter. Our team approach is thoughtful and sincere, focused on clear communication, trusted advice and a dedication to making the entire process as seamless and rewarding as possible.

The TEAM

RAVEN MULLAN

Kim Mullan

CHINA CASARIN

Real Estate Agent

Real Estate Broker

Real Estate Agent

With over a decade of experience in real estate, I help clients navigate meaningful moves with clarity and confidence — whether you’re buying your first home, relocating, or planning your next chapter.

I’m an award-winning Realtor® based in London, Ontario, dedicated to making your real estate journey as smooth and stress-free as possible. Whether you’re buying or selling, I’m here to guide you through the market, help you explore your options, negotiate the best value, and achieve top results.

I am a Realtor with Sutton Group Select Realty Inc., Brokerage in London Ontario and serve residents in and around the city.

Born and raised in London, I have a deep love for and knowledge of the city and take great pride in ensuring buyers and sellers are successful in their real estate endeavours here! Be it your first home, your dream home, downsizing, or business ventures, I take all of your real estate goals ELENA personally!”

CLARKSON

Based on Vancouver Island, I focus on guiding clients across Southern BC, while supporting our Ontario business behind the scenes alongside Kim and China.

When I’m not working, you’ll find me exploring the coastline, discovering new neighbourhoods, or connecting with the community through dance and creative projects.

Over the past decade, I’ve been recognized as Sutton Group Select Realty’s top-producing agent for 12 consecutive years (2012–2023), earned multiple Platinum Achievement Awards, and received the prestigious SuttonCLARKSON National Award of ELENA Excellence.

With my “Platinum Listing Package” and hands-on approach, I strive to offer clients a true advantage — combining expert advice, clear communication, and unwavering support every step of the way.

RAVEN MULLAN

CONTACT US

Sales Representative Sutton Group Select 226.700.6452 homes@ravenmullan.com www.ravenmullan.com

CHINA CASARIN Sales Representative Sutton Group Select 519.871.0431

chinacasarin@gmail.com chinacasarin.ca

KIM MULLAN Broker Sutton Group Select 519.871.1775 kim@kimcan.ca kimcan.ca

@ravenmullanhomes @chinacasarin @kimcanhomes

BUYERS ROADMAP 01

02

03

Get Pre-Approved

Find An Agent

Find your home

Meet with a lender to find the right mortgage.

We are local market experts and will work within your budget and wish list.

We will find you some suitable options and set up showings for you to view.

04

05

06

Offer

Inspections

Appraisal

When you find your dream home, we will submit an offer and negotiate the terms of the contract.

Complete inspections on the home with a professional. This is a time to negotiate any repairs before closing.

A professional will determine if the home is worth the price you agreed. A lender cannot lend out more than a home is worth.

07

08

Pre-Closing

Closing

Confirm repairs are completed, do a final walkthrough and transfer funds.

Sign and review all closing documents and receive your key!

Share pre-approval letter with an Agent.

YOU'RE HOME

Step 01

CHOOSING THE RIGHT AGENT

Your goal is to find a home that meets your needs and budget. As your agent, it’s my goal to make that happen. Here are some ways I back my clients: I'll meet with you to understand your goals, so we can create a plan for finding the right home at the right price.

Being in the industry comes with expert neighbourhood knowledge and insider secrets about properties going on the market before they hit MLS® (Multiple Listing Service).

I work with a network of experienced mortgage brokers, home inspectors, and conveyancers, and I’m happy to connect you with people I trust. I can also help coordinate with trades or city departments when something needs clarification Buying a home involves a lot of paperwork. Let me navigate the real estate contracts and educate you along the way so you know exactly what you are signing.

Step 02

PREPARE FINANCE RECORDS

PREPARE FINANCES & GET PRE-APPROVED Before you start shopping for a home, it’s important to understand how much you can afford and to get pre-approved for a mortgage. This gives you a clear budget and shows sellers that you’re a serious buyer.

WORK WITH A MORTGAGE BROKER OR LENDER Your mortgage specialist will assess your income, debt, and credit history to determine how much you can borrow and what interest rate you may qualify for.

Pre-approval typically locks in your rate for 90 to 120 days.

COSTS TO CONSIDER Down Payment Minimum 5% for homes up to $500,000 10% on the portion between $500,000 and $1,500,000 20% minimum for homes $1,500,000 + Deposit A good faith payment made after your offer is accepted — typically 1% to 5% of the purchase price. It’s held in trust and applied toward your down payment at closing.

The exact amount varies by property and market.

Closing Costs Budget 1.5% to 4% of the purchase price. This includes legal or conveyancing fees, land transfer tax, title insurance, and adjustments for utilities or taxes.

Home Inspection Generally $500-$800, depending on property size & condition.

Appraisal Your lender may require a third-party appraisal to confirm the property’s value before approving the mortgage. This usually costs $350 to $500.

MORTGAGE DOCUMENT CHECKLIST INCOME / EMPLOYMENT Paystubs (last 30 days)

CHECKLIST

T4s and NOAs for last 2 years Employment letter Business financials if self-employed Documentation for rental income Gov. benefits/pension documentation

CREDIT & ID Government-issued photo ID SIN (Social Insurance Number) Separation or divorce agreement (if support payments are relevant)

ASSETS Bank statements (typically 3 months) Down payment gift letter if applicable Details of any real estate you own Investment or RRSP account statements (if being used toward purchase)

Step 03

GET PRE-APPROVAL

A pre-approval is an official document that says that a bank or credit union is willing to lend you a specific amount of money based on your income, assets and liabilities. A pre-approval means that the bank has reviewed your financial information (income and assets) and decided that it's safe for them to give you a loan for at least as much as they have approved for your purchase.

You can start your search knowing how much house you can afford—not just in terms of its price tag but also in terms of monthly payments. You will be able to compare listings with this knowledge at hand and avoid wasting time or money on homes that are outside your price range.

Step 04 START HOME SHOPPING We will set up showings on suitable homes that match your wish list and budget. Here are some tips. Don't worry, we will take care of most things but it's important for you to consider the below.

CHECK PLUMBING AND ELECTRICS Check kitchen and bathroom plumbing, as well as electrical outlets and light switches for proper operation. Open doors and walk into every room to test their comfort level (no one wants to be surprised by an unexpected closet door).

NOTE TRAFFIC Note traffic on the street and surrounding area. If you commute to work, consider revisiting the area during peak times to get an idea of traffic and travel time.

TAKE NOTES AND PHOTOS You may forget some details when looking at other houses later on in this process, so keep track of them all now as they come up. It’s also a good idea to take pictures.

Step 05

MAKE AN OFFER

MAKE AN OFFER Once you’ve found the home you love, it’s time to put your offer together. Your offer outlines not only the price, but also your preferred terms and conditions — and should show the seller you’re a serious, well-prepared buyer.

OFFER PRICE This is the amount you’re willing to pay for the property. We’ll review comparable sales to help you make a strategic offer based on market value, demand, and your goals.

DEPOSIT A deposit is typically due within 24 hours of an accepted offer. It’s held in trust and applied toward your down payment at closing. The amount varies but often ranges from 1% to 5% of the purchase price.

CONDITIONS Most offers in Ontario include conditions like financing approval, home inspection, or review of status certificate for a condo. Status certificates typically take 7–10 days to receive and cost about **$100.

These give you time to do your due diligence before the deal is binding.

WHAT HAPPENS NEXT The seller may accept, reject, or counter your offer. Once accepted, the clock starts on your subject removal period — typically 5 to 10 business days. After that, your deal becomes firm.

Step 06

GET A HOME INSPECTION

A home inspection is a fairly common practice in the real estate industry. We will schedule an inspection with a professional home inspector. It can help you identify issues with the house.

In some scenarios use this information to NEGOTIATE with your seller if there are any problems that need attention, especially ones that could be costly to fix. This gives you an opportunity to make sure you don't end up with a home that has structural issues. Be reasonable on smaller issues. If there's minor wear and tear on appliances or carpeting, consider giving it a pass unless there's something seriously wrong with them (like mold on window frames).

Step 07 MORTGAGE APPROVAL If your offer is subject to financing, your lender may require an appraisal to confirm the home’s value. This ensures the price aligns with market value and lending guidelines.

Once all documents are reviewed and the appraisal (if needed) is complete, your mortgage will be finalized. You’ll receive confirmation of your loan approval and terms, and you’ll be one step closer to a firm deal.

Step 08

PRE-CLOSING

PRE-CLOSING Pre-closing is the period between subject removal and possession. During this time, we make sure all legal, financial, and practical details are ready for a smooth handover on closing day.

WORK WITH A LAWYER Your conveyancer or notary will handle title transfer, funds, and closing documents. They’ll also confirm there are no liens or legal issues with the property.

FINALIZE HOME INSURANCE Most lenders require proof of insurance before funding is released. Arrange coverage to begin on your closing date.

REVIEW STATEMENTS You’ll receive a statement of adjustments showing closing costs, tax prorations, and final amounts due. Your lawyer will walk you through it all.

FINAL WALKTHROUGH We’ll book a final walkthrough (usually 24–48 hours before closing) to confirm the home is in the expected condition and any agreed-upon repairs are complete.

Step 09 FINAL STEPS & CLOSING As we approach the finish line, your legal team takes over to complete the final transfer. Here’s what to expect as you move from buyer to homeowner.

A FEW DAYS BEFORE CLOSING You’ll meet with your lawyer or notary to sign the final documents Remaining funds (your down payment balance and closing costs) will be transferred via certified cheque or wire Your lender will prepare to send mortgage funds to your lawyer/notary ON CLOSING DAY Your lawyer will complete the transaction and register the property in your name with the provincial land registry Funds are transferred to the seller’s lawyer Once registration is confirmed your keys will be released

Congratulations

YOU ARE OFFICIALLY A HOMEOWNER

Condos

WHAT TO CONSIDER

When purchasing a condo or townhome, you are buying into a shared property governed by a condo corporation. Monthly fees typically cover building maintenance, insurance, the reserve fund, and sometimes utilities. It is important to review the status certificate, declaration, by-laws, financials, reserve fund study and to check for any special assessments. These documents can reveal key details about the building’s condition, pet and rental policies, and how the condo is managed. You will also want to understand what parts of the property you are responsible for as an owner.

New Builds

BEFORE YOU BUY

Buying a newly built home comes with its own considerations. HST (13% with potential rebates) is typically added unless included by the developer, and most homes are covered by Ontario’s Tarion warranty.

Contracts are different from standard resale agreements and may include variable timelines or upgrade costs. I’ll help you review the terms and make sure everything is clear from the start.

Moving Checklist ADVANCED PREP

'OPEN FIRST' BOX

CREATE A BUDGET FOR THE MOVE

CLEANING SUPPLIES

DECLUTTER AND CLEAN

LIGHTBULBS

BOOK TIME OFF WORK

TOOLS (KNIFE, SCISSORS)

BOOK CHILDCARE FOR MOVE

LIGHTBULBS

BOOK MOVING TRUCK

CHILDRENS TOYS

DONATE UNWANTED ITEMS

COFFEE, TEA, SNACKS

MAKE INVENTORY OF YOUR ITEMS

REMOTE CONTROL

TRANSFER PRESCRIPTION RECORDS

REGISTER AT NEW SCHOOLS TAKE CUTTINGS FROM PLANTS

PACK OVERNIGHT BAG

MEASURE FURNITURE

PYJAMAS & CLEAN CLOTHES

DEFROST FREEZER

TOOTHBRUSH & TOILETRIES TOILETPAPER

NOTIFY OF MOVING

MEDICATION PET FOOD & LEAD

POST OFFICE

TOWELS

EMPLOYER & PAYROLL

IMPORTANT DOCUMENTS

TELEPHONE, INTERNET

CASH & VALUABLES

TAX & SOCIAL SECURITY BANK & CREDIT UNION

MOVING DAY

GARBAGE REMOVAL DOCTOR

CHECK PHONE ISN'T ON SILENT

DENTIST

BE AT HOME FOR MOVERS

ATTORNEY

ORGANISE CHILDCARE

SUBSCRIPTIONS

PUT PETS SOMEWHERE SECURE

HEALTH & DENTAL INSURANCE

PROTECT PHONES AND CARPETS

UTILITIES

MAKE SURE BOXES ARE LABELLED

HOME & CAR INSURANCE

FINAL CLEAN & REMOVE TRASH

FRIENDS & FAMILY

LEAVE OWNER MANUAL & RECEIPTS

YOUR HOME WISHLIST Whether you’re drawn to ocean views, extra space, modern f inishes, or cozy character — let’s map out what matters most to you in a home.

WISHLIST

MUST HAVE:

NICE TO HAVE:

DEAL BREAKERS:

LIFESTYLE FIT: ☐ QUIET ☐ WALKABLE ☐ OCEAN NEARBY ☐ RURAL ☐ LOW MAINTENANCE ☐ CHARACTER ☐ FAMILY-FRIENDLY ☐ DOG-FRIENDLY ☐ MODERN

NOTES

Testimonials “ I have had the most amazing experiences with Kim Mullan as my real estate agent for over the past two decades. She is attentive, knowledgable, savvy and hardworking. Kim listens to the client and conducts herself with an integrity that I appreciate beyond words. I highly recommend her if you are considering buying or selling!”

- S.P.

“We really enjoyed our experience with China over the last four to five months.

With our search for a new home, she was very accommodating with time for viewings. Writing late night offers, answering questions.

Not only from us but from Max’s parents as well. She definitely went above and beyond in helping us our perfect home!”

- MAX & ANNELIES

“If you are looking for top notch service, a caring and passionate realtor and a deal maker, Raven Mullan is the person to have on your side!

We used Raven to sell our home, she made the whole process a very easy one! She is quick to answer, very knowledgable about the local market, and persistent with her approach when investigating the local competition. Highly recommended!”

- DAT VI TRUONG

"Working with Kim and anyone from her team is always a fantastic experience.

We bought our first house and Kim helped us through the process. We were unfamiliar with London real estate and Kim helped us understand what has value and what doesn't. When we found the house we loved, she helped us get the house with giving just 1 offer. She thought of all the inclusions we would need. Her reputation is an added plus, as other agents trust her in the area..”

- KATIE KRISCHE