BUYER’S GUIDE
ThE PQ REal ESTaTE GRoUP
CoRCoR an hoRIzon R E alTY
The PQ Real Estate Group (PQRG) is a powerhouse team of elite real estate professionals led by Claudine Montano, Luxury Broker with Corcoran Horizon Realty. Together, the PQ Real Estate Group is redefining living in the Greater Toronto Area market and beyond.
With over $6 billion in real estate sold, more than 80 years of collective experience, and dual licensure across Canada and the U.S., the PQ Real Estate Group connects buyers and sellers locally and globally. The team offers a full-service approach that caters to the whole process from beginning to end, making your transaction seamless.
Renowned for their innovative marketing, global reach, and discreet service, the PQ Real Estate Group was honored as the recipient of the 2024 Best Luxury Real Estate Broker in Ontario, Canada. Their work has been featured on CBC, HGTV, and The Globe and Mail, affirming their position as industry leaders.
Beyond transactions, the PQ Real Estate Group is passionate about philanthropy, supporting causes such as SickKids Hospital and Autism Awareness. Backed by professionalism, global expertise, and a commitment to excellence, PQ Real Estate Group continues to set the benchmark for real estate.
oUR MISSIon IS To hElP YoU
By choosing us as your advisors in this journey of your home search, we will dedicate representing you with professionalism, ensuring that we invest the necessary time and effort to secure your future home and advocating for your needs.
Our commitment lies in safeguarding your interests, navigating potential conflicts, and negotiating advantageous terms, all with the aim of delivering exceptional service that will foster a lasting client relationship.
As your agents, we can:
1. Save you time and money
2. Make you a more informed buyer
3. Give you an advantage in an ever-changing market
4. Help you navigate the complicated process of acquiring your future home
how wE wIll GUIDE anD
SUPPoRT YoU
UnDERSTanDInG YoUR nEEDS: We ask the right questions to fully grasp your goals and preferences.
CUR aTED P RoPERTY SElECTIon: We identify homes that truly align with your lifestyle and criteria.
M a R k ET InSIGhT: You’ll receive clear, up-to-date guidance on pricing and market trends.
FInanCI al R Ea DInESS: We help you assess affordability and plan optimal timing for offers.
TRUSTED R ESoURCES: Get access to reliable data on neighborhoods and property specifics.
ToP-TIER R EFERR al S: We connect you with vetted professionals — lenders, inspectors, attorneys, and more — for a seamless experience.
YoUR hoME SEaRCh
lET’S BUY a hoME
10 STEPS To BUYInG a hoME
Identify homes you like and schedule home tours.
1 5 2 6 9 3 7 10 4 8 Choose a real estate agent that’s right for you.
Know your budget. Make an offer.
Update utilities and transfer services.
Explore mortgage options, get pre-approved. Get a home inspection. Move into your new home!
Create a wants and needs list. Close the deal.
YoUR FInanCIalS
FInanCE YoUR hoME
There are many critical factors involved in determining the best way to finance your home. We can assist you in your conversations with your financial advisor and in connecting you with partners and vendors for the best experience. Working with the right professionals is key.
1. Determine your price range.
2. Determine any additional costs.
3. Determine the amount of cash on hand needed.
4. Pre-qualify for a loan if necessary.
5. Determine ideal post-closing equity.
6. Potential lenders will inquire about these critical factors:
• Income
• Available cash
• Credit history
• Debt level (TDSR)
• Employment history
• Purchase price
UnDERSTanDInG DIFFEREnT hoME STYlES
SToREY-anD -a-h alF:
Features a main floor and partial upper level (often with sloped ceilings). Compact yet functional with potential for added space.
Two -SToREY hoME:
Full-height upper and lower floors, offering ample living space. Great for larger households.
SEMI-DETaChED:
Two single-family homes attached sideby-side. Offers affordability with many detached home features.
SInGlE-lEv El (BUnGalow):
One-storey layout, ideal for accessibility or downsizers. May include a basement.
ConDoMInIUM /PEnT hoUSE:
Individual unit ownership in a larger building. Low maintenance and often include shared amenities. Penthouses are the top floors.
TownhoUSE:
Multi-level homes attached in a row. Offers space, privacy, and affordability.
DUPlEx:
One building split into two homes (often up/down). Suitable for income potential or multi-generational living.
CoMMERCI al SPaCES:
From luxury retail storefronts to modern offices and mixed-use investment properties, PQRG helps clients secure high-value commercial real estate in prime locations.
BUYER STRaTEGY & SEaRCh PlannInG
Setting clear priorities is essential. In our initial meeting, we’ll define your goals and lifestyle needs and create a tailored property search strategy.
l oCaTIon & P RoPERTY TYPE
We’ll explore ideal neighborhoods and determine the right home type — first home, forever home, or investment.
BUDGET
& FInanCInG
We’ll help you define your budget, connect with trusted lenders, and prepare for all costs.
• Set price range
• Understand cash needed
• Get pre-approved
• Know key lender criteria
ConDITIonS
We’ll review mortgage clauses and protect your interests with the right legal and financial partners.
PRoPERTY nEEDS/wanTS PREP ChECklIST
BEDRooMS & BaT hRooMS
• Choose number of bedrooms & bathrooms (2–4+ options)
• Master bedroom preferences (ensuite, size, etc.)
k ITChEn
• Preferences: Gas stove, dishwasher, island, pantry, open concept
• Renovation status
a DDITIonal FEaTURES
• Garage (attached/detached), air conditioning
• Laundry, walk-in closet, double sinks/showers
InDooR Ex TR a S
• Gas/wood fireplace, high ceilings, smart wiring, formal dining room
oUTDooR P REFEREnCES
• Balcony/terrace, deck/ backyard, entertaining area
• Parking
• Pets
MaRkET TREnDS
a SSESSInG M a R k ET TREnDS To DEv EloP YoUR P URCha SInG STR aTEGY
Mon T hS oF
I nv En ToRY
ToTal nUMBER oF PRoPERTIES SolD
av ER aGE nUMBER oF SalES PER Mon T h =
Seller’s Market
Balanced Market
Buyer’s Market
FRoM now UnTIl CloSInG
Now that you've purchased your home, use this list to help you prepare yourself for a smooth transition.
noTIFY ChanGE oF a DDRESS:
1. Canada Post
2. Car Insurance
3. Credit Cards
4. Magazine/Newspaper subscriptions
5. Banks
6. Revenue Canada.
7. Child Tax/Tax Credit Program
8. Vehicle Registration
9. Driver Licence
10. Health Card
11. Doctor/Dentist
12. Your Place of Employment
FI v E P RIoRITIES:
1. Moving Truck – Book it early.
2. Lawyer – Do they have all the documents they need?
3. Bank/Mortgage Broker – Do they have all the documents they need?
4. Home Insurance – Contact them and make necessary changes.
5. Schools – Set up or change school registration for your children.
hElPFUl TERMS To know
A good real estate agent will guide a buyer through the purchase process from start to finish, but knowledge is power, and speaking the language will make you a savvier home shopper. Prime your vocabulary with these essential terms.
CloSInG CoSTS:
Fees paid at a real estate closing when the title of the property is transferred from the seller to the buyer. These costs are incurred by either party and may include attorney fees as well as fees for the appraisal, credit reports, inspections, and brokerage commissions.
ConDo:
A building in which owners own their own apartments but the common space in/ around the building is jointly owned by everyone. Condo boards have the right of first refusal for each purchase. In addition, these apartments are considered real property because owners receive deeds for their homes as well as their own tax bill.
aGREEMEnT oF P URCha SE anD SalE:
A legally binding agreement between a buyer and seller that outlines the terms of purchase or transfer of an apartment.
FInal BUYER vISIT:
A few days before the closing, the buyer does a walkthrough to make sure the apartment is in the condition specified in the contract.
In ConTR aCT:
An offer has been made and accepted on a property. The buyer has paid a deposit, and both seller and buyer have signed the offer, meaning the listing is no longer available except as a backup.
M a InTEnanCE FEES:
These charges are associated with condo ownership and are calculated by taking each condo unit’s percentage of common interest and multiplying by the building’s overall operating costs. CCs cover such items as building amenities, management fees, and operating expenses.
va RI a BlE MoRTGaGE:
Unlike a fixed-rate mortgage, for which the interest rate is set for the life of the loan, an ARM’s interest rate shifts up or down at pre-set intervals, following an index. The initial interest rate is usually fixed for a set time (usually lower than a typical fixed rate mortgage), after which it resets either monthly or annually.
SUGGESTED vEnDoRS
aTToR nEYS:
• Kate Grossi kate@kormancompany.com
416.465.4232
• Adam Richardson adam@kormancompany.com
416.465.4232
• Antonio Raviele antonio@rvlaw.ca
416.364.5200
lEnDERS:
• Angie Alvarez angie@capitalhomelending.ca
416.315.6261 https://shorturl.at/Rnqdq
• Peter Wiel peterwiel@gopineapple.com 416.418.5639
• info@getabettermortgage.com 416.252.900
hoME InSPECToRS:
• John Macdonald john.macdonald@pillartopost.com 416.500.9657 / 416.277.0484
• Walter Collodel walter.collodel@carsondunlop.com 416.797.3185
• Ritchie Bisnauth mobile: +1 647.701.6827 / +1 289.221.0032 ritchie.inspection@gmail.com
Mov InG CoMPanIES:
• Crawford Moving Solutions / Brian Crawford crawfordmovingsolutions@gmail.com 416.460.1016
• AMJ Campbell torontowest@amjcampbell.com 1.888.AMJ.MOVE (265.6683)
• My Ninja Movers moveme@myninjamovers.com 416.992.9998
TYPES oF PRoPERTIES
o wnERShIP
valUaTIon/ P RICInG
FInanCInG
GUIDElInES
MonT hlY Ex PEnSES R EnTal oPPoRTUnITY a DDITIonal
ConSIDER aTIonS
Single Family, multi-Family, townhome S (4 unit S & under), and CondoS
In Ontario, property can be owned individually, jointly with survivorship rights, in unequal shares, through condo ownership, or via co-op shares—each with unique rights and responsibilities. Ownership can be in name of individual or entity. For condos, fee simple ownership of real property evidenced by title & deed. Owners are subject to condo by-laws. Ownership can be in name of individual or entity (LLC or trust).
A scarce asset valued for privacy and architectural/historical character, townhouses derive value from their size, location, outdoor space and- for multi-family income potential. Condos tend to price higher than co-ops. Condos constructed since the mid/late 90s typically feature luxury finishes, amenities & services, further increasing their value.
Standard terms for single family homes; different terms apply for multi-family properties. Typically up to 90% financing is permitted (if commercially available) and up to 96.5%. CMHC provides mortgage loan insurance for buyers who have a down payment of less than 20%. For homes priced between $500,001 and $1,499,999: the minimum down payment is 5% of the first $500,000 plus 10% of the portion of the purchase price above $500,000.
Owner responsible for all costs of home ownership, including real estate taxes. For condos, monthly maintenance fees are proportional to percentage of common interest per apartment and support general building expenses.
No restrictions. For multi-family properties, rental units may be subject to rent stabilization. For condos, rentals are generally permitted for a minimum of one-year, making condos desirable for investors. Subject to condo board’s waiver of its right of first refusal.
Flexibility of ownership and use makes condos appealing to investors and foreign purchasers. Sales require the submission of a purchase application and are also subject to condo board’s waiver of its right of first refusal.
REal ESTaTE lEGalESE 101
Appraisal – A valuation of property by a qualified individual who uses his or her experience to prepare the appraisal estimate.
Appraisal Fee – Fee charged by an appraiser to estimate the market value of a property, which starts at about $500 but can run significantly higher.
Appreciation – An increase in property value.
As-Is Condition – The purchase or sale of a property in its existing condition, without repairs.
Asking Price – A seller’s stated price for a property and a starting point for negotiations.
Assumption Clause – A provision in the terms of a loan that allows the buyer to take legal responsibility for the mortgage from the seller.
Back-To-Back Closings – Arrangements that an owner makes to oversee the sale of one property and the purchase of another simultaneously.
Broker – An agent who negotiates the contracts of sale between the parties for a fee or commission.
Capital Improvements – Improvements that either will enhance the property value or will increase the useful life of the property.
Capital, or Cash Reserves – An individual’s savings, investments, or assets.
Certification of Title – A certificate of ownership stating that the title to the specified property is free and clear except for a mortgage.
Closing – The fulfillment or performance of a contract especially for the sale of real estate and the deed is transferred.
Closing Costs – Fees for final property transfer not included in the price of the property. Typical closing costs include fees, taxes, brokerage commissions, and insurance premiums that are due at closing. These vary based on purchase price, property type, and lender requirements.
Co-Signer – A person who signs a credit application with another person, agreeing to be equally responsible for the repayment of the loan.
Counteroffer – A rejection to all or part of a purchase offer that requests different terms to reach an acceptable sales contract.
Credit Report – A report generated by the credit bureau that contains the borrower’s credit history for the past seven years. Lenders use this information to determine if a loan will be granted.
Credit Risk – A term used to describe the possibility of default on a loan by a borrower.
Credit Score – A score calculated by using a person’s credit report to determine the likelihood of a loan being repaid on time. Scores range from about 360 to 840. A lower score means a person is a higher risk.
Deed – A written instrument by which a person transfers ownership of property to another.
REal ESTaTE lEGalESE 101
Down Payment – The portion of a home’s purchase price that is paid in cash and is not part of the mortgage loan.
Pre-Delivery Inspection Account –A separate account into which the lender puts a portion of each monthly mortgage payment. A predelivery inspection account provides the funds needed for such expenses as property taxes and homeowners’ insurance.
Financing Terms – The period of time and the interest rate agreed upon by the lender and the borrower to repay a loan.
Joint Tenancy – Two or more owners share ownership and rights to the property. If a joint owner dies, his or her share of the property passes to the other owners without probate.
Lender – A person or company that makes loans for real estate purchases; sometimes referred to as a loan officer.
Maintenance Fees – These charges are associated with condo ownership and
are calculated by taking each condo unit’s percentage of common interest and multiplying by the building’s overall operating costs. CCs cover such items as building amenities, management fees, and operating expenses.
Market Value – The price at which a buyer is ready and willing to buy and a seller is ready and willing to sell.
Mortgage – A legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor’s property.
Pre-Approval – A lender commits to lend to a potential borrower a specific or maximum loan amount based on a completed loan application, credit reports, and debt and savings statements, all of which have been reviewed by an underwriter. Preapproval could happen before a property search begins or while the search is in progress.
Punch List – A list of items that have not been completed at the time of the final walkthrough of a newly purchased apartment.
Right of First Refusal – A legal clause in a real estate contract that gives a specific party the right to make the first offer on a property before the owner can negotiate with other buyers.
Transfer of Ownership – Any means by which ownership of a property changes hands. These include purchase of a property, assumption of mortgage debt, or exchange of possession of a property.
Variable Mortgage – Unlike a fixedrate mortgage, for which the interest rate is set for the life of the loan, an ARM’s interest rate shifts up or down at pre-set intervals, following an index. The initial interest rate is usually fixed for a set time (usually lower than a typical fixed rate mortgage), after which it resets either monthly or annually.
Walk-Through – The final inspection by the buyer of a property being sold; the intent is to confirm that any contingencies specified in the purchase agreement, such as repairs, ,have been completed.
