Buyer's Guide Steps For Success
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2
WHAT
TO
EXPECT
CONTENTS
Introduction
Home Buying Process
Prequalification
Let's Get Started
Wish List
Tips On Buying
Closing Costs
Next Steps
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MEET SHELLEY IT'S
ALL
ABOUT
PURPOSE
I have been fortunate in this life to be able to follow my passions and fuel my life with purpose. My passion for Real Estate started at a young age. I have over 25 years of experience with passive income earning properties of all kinds. Real Estate has brought me a great deal of enjoyment, fulfillment and purpose. I can't think of anything more exciting than helping others fulfill their purpose with their real estate goals.
ABOUT As a diverse collective of professionals that work hard and stay humble, we are client-centric Realtors providing ground breaking services that will result
CORE
VALUES
in long lasting relationships and unmatchable
Put People First
results. Locally owned with 5 locations in the Lower
Innovative Service
Mainland, Oakwyn, and its agents, puts honesty and integrity first.
Create a Community Real Estate Nerds Lead by Example Pursue Growth & Learning Embrace and Drive Change
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KNOW
YOU
WHAT
CAN
AFFORD
PREQUALIFICATION Getting a pre-approval is one of the best things
THINGS TO GATHER TO
you can do to simplify the home buying process
SIMPLIFY THE
and give yourself more confidence in your buying power. A pre-approval lets you know
APPLICATION PROCESS
how much you are able to borrow with minimal risk. It also helps you define what you are
Identification – to prove you are who you claim to be.
comfortable spending.
Bank account and investment Typically pre-approvals are valid for 90 to 120
statements – to prove you can pay
days. This means that you can lock in at a lower
your monthly payments.
mortgage rate and have the peace of mind that
Proof of assets – like a car,
you are ready to go once you find your perfect
investment property, or boat.
property. This process takes time to provide the
Proof of income – pay stubs or a
necessary paperwork for qualifying. Start now if
letter from your employer. A notice
you haven't started already.
of assessment will be needed if you’re self-employed. Additional proof of any other sources of
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themortgageteambc.com
income. Information about your debt – this includes student loans, car loans,
Keegan Casidy 604 724-7767
keegancasidy.ca
and credit cards. Banks have access to this information so its best to be transparent.
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Wish List
WANTS
Defining your wants, needs and deal breakers is imperative to a successful home search. This is unique to everyone and every couple. Ensure you are on the same page.
NEEDS
DEAL BREAKERS Things to consider
Strata Rules and Bylaws on Pets and Smoking Whether you need a Garage or Outdoor Space Move in ready, Renos or Cosmetic Fixes Bad Odors or Questionable Previous Use Poor Upgrades Sun Exposure Proximity to Neighbours Previous Rodents or Mold
Call or email with questions
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Buying a home may feel daunting but narrowing
TIPS ON
down the search and finding that dream home should be fun and exciting. Here are a couple of tips to get you ready so that you can make the most of the experience.
BUYING
Know Your Budget
Pre-approval is key. Connect with a Mortgage Broker early and find out exactly what the banks will lend but also what you feel Know your wants, needs and comfortable spending. deal breakers. You may not get everything on the list so be prepared to compromise. Defining your must have's is important.
Define Your Wish List
Consider Cosmetic Fixes
We all want to find the perfect home. The reality is what's perfect for someone else may not be perfect for you. Consider how much effort, time and money you are willing to invest.
Narrow Your Neighbourhood Schools, amenities and accessibility may be important. Figure out where you ideally want to live. The more specific, the more targeted the search.
Drive The Commute If you are looking in a new area spend some time visiting coffee shops, restaurants and grocery stores. If you need to commute, drive it yourself to ensure you will be happy with the location.
Be Ready To Pull The Trigger The Greater Vancouver market moves quickly. Know your ideal possession dates and conditions. Consider a preinspection on a property you love and have your funds available with your deposit cheque ready.
CLOSING COSTS Throughout your home purchase third party vendors have performed services. Closing costs include the fees these professionals (as well as others) charge to finalize the real estate transaction.
THE
DETAILS
THE
NUMBERS
1. Inspection – $400-$600 depending on the size of the home, paid to the home inspection company at the time of the inspection. 2. Appraisal/Survey – $350-$500, an appraisal is hired by the lender to confirm the value of the home you’re
Purchase Price plus; Inspection
purchasing. The mortgage broker may cover this cost. 3. Property Transfer Tax - 1% on the first $200,000, 2% on $200,000 to $2,000,000, 3% on the portion greater than $2,000,000. Additional over 3mil. First time home buyers may be exempt with grant. Ask for
Appraisal/ Survey Property Transfer Tax Legal Fees
details. 4. Legal Fees - Buyer's pay in the area of $1000-$1500 for a lawyer to look after the legal details necessary to close on their new home. 5. Adjustments – Your lawyer will ensure that any over
Property Tax Adj Utilities Adjustment Home Insurance
payments or deficiencies on rents, mortgage interest, property tax, and utility charges will be corrected, and the buyer and seller will be credited or charged accordingly.
Moving Cost Other ie: Foreign Home Buyer Tax Strata Docs & Move in Fees GST (if appl)
6. Home Insurance - Most lenders require property buyers to carry fire and extended coverage insurance and liability insurance in order to fund your mortgage. 7. Moving Costs - Moving costs vary based on location
Approx Total
and the amount of possessions being moved.
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With you every step of the way
Call or email with questions
604.209.4855
info@shelleyhird.com
READY
NEXT STEPS
TO
BUY
Forms Disclosure of Representation in Trading Services
SIMPLIFYING
THE
Privacy Notice and Consent HOME
FINTRAC Personal Identification
BUYING
PROCESS
Buying Price and Contract Decide on the Price Range you want to Spend Buyers Exclusive Contract and Schedule A Discuss Preference and Strategy for Search Review Contract of Purchase and Sale Mortgage Preapproval Get Prequalified Define Your Wants, Needs and Deal breakers Begin Your Dream Home Search Online Listings and Collaboration Center Buyers Tours and Open Houses Review Strata Docs of Interested Homes (if appl) Pre-inspections
Remove Subjects Property Inspection Appraisal Finalize Financing Pay Deposit
Work With Your Lawyer Draft your Closing Documents Arrange Home Insurance & Schedule Movers
Sign the Completion Documents 1 - 10 days prior to completion
Completion Day Title and money is exchanged
Possession Day Receive the keys and move in
Offers Finalize Price, Subjects and Prepare Contract Be Prepared for a little back and forth Celebrate Accepted Offer
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Welcome Home
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#101 -3151 Woodbine Drive North Vancouver, BC V7R 2S4
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