When real estate professionals work with Sellers and Buyers, “Agency” relationships are established.
As you start working with a real estate professional, please ask for a clear explanation of the current Agency laws in Ontario, so that you understand these important issues.
A “Seller’s Agent” represents the interests of the Seller and has a fiduciary responsibility of reasonable care, loyalty, confidentiality and disclosure to the Seller. A Seller’s real estate professional (Agent/REALTOR®) works to assist the Seller in locating a Buyer and in negotiating a transaction suitable to the Seller’s specific needs.
A “Buyer’s Agent” represents the Buyer during the home buying process. The Buyer’s real estate professional (Agent/REALTOR®) has a fiduciary responsibility to represent the Buyer’s best interests including reasonable care, loyalty and confidentiality.
For over 45 years, RE/MAX has been building a global network of highly productive real estate professionals.
What does this mean for you? It means that when you work with a RE/MAX Realtor, you are getting a dedicated real estate professional with access to a vast knowledge base, and the tools and support they need to help you find, and purchase, the right home for you.
From the pride you feel by being a Homeowner, to the potential tax deductions associated with home ownership (where appropriate), the benefits are plenty. If you’re ready to travel the road toward home ownership, take your first step with this Home Buyer’s Guide.
This guide is a resource to help familiarize you with the home-buying process, and present you with relevant information, including a list of terms, things to consider when choosing a home, and a checklist to help you make the right decisions for you.
Whether you are moving across town or across the country, the real estate market is a big place. As experienced REALTORS®, we can help you navigate it. We have access to current market information and can help you make informed decisions about the areas and properties that interest you.
As you move through the process, we can walk you through the confusing paperwork and, of course, assist you in house hunting.
Research Realtors online, review websites & social media, and solicit recommendations from family and friends.
A home is a very intimate, very expensive purchase. It’s critical that your REALTOR® makes you feel comfortable, listens to you, and respects your views.
An experienced, full-time Realtors will likely have already experienced market ups and downs, and will know how to navigate current conditions.
ASK YOUR TOP CANDIDATES THESE QUESTIONS:
Getting pre-approved for a home loan can be a daunting experience. First, find a mortgage professional that you’re comfortable with. If needed, your Realtor can provide referrals of mortgage professionals.
Your mortgage professional will check your financial standing to determine how much you can borrow, how much you can afford, and which loans might be right for you.
Applying for a mortgage requires a written application and supporting documentation; it can be a slightly intimidating process and there are a few things you should be ready for when meeting with your mortgage professional:
Knowing your credit score will give lenders an inside look at your credit habits and history and will help them decide if you’re a good candidate for a loan.
Credit scores are ranked on a scale of 300-900
Lenders ask for a list of your past employers, how long you’ve been with your current employer, and what your annual salary or take-home pay is.
They want to make sure you consistently earn money, with no major gaps in income, and can make regular mortgage payments.
Be prepared to show your past tax records, recent bank statements, and current debt
amounts, including credit card debt, car loan, or student loan.
Lenders want to know your debt-to-income ratio to know if you can make each loan payment with the income you earn.
As a home Buyer, you can expect to see an array of different home styles and designs. You’ve got the choice of single-family, condo, town house, lakefront, acreage, luxury; you can also choose bungalow, multi-storey, split-level, or many other options.
In addition, you can choose a pre-existing home or new construction. In other words – you’ve got options. But what’s most important is that you choose a home that compliments your lifestyle and narrow down your choices.
Once you’ve identified your must-haves, you can browse listings online, and ask your Realtor to find you listings that meet your criteria via email, text message or social media. Your Realtor will coordinate showings for properties you’d like to see in person.
When it comes to house hunting online, there are lots of things a potential Buyer can do to get a feel for a property by simply utilizing the tools that are available online. Your Realtor is a great resource to lean on, as they often have lots of information on the property that may not be included in the listing description.
Make sure you take a look at the photos and spend some time noting where windows are and what the natural light is like in the space. Another good thing to consider when looking through the photos is how your own furniture will look in the space. If the photos of the home are furniture free, allow yourself to mentally place furniture where you think it may look best. If the property is staged, take into consideration where different furniture pieces are placed and how you could change the furniture layout to work for you and your style.
If you’re looking at a property online that may not be quite your style or that needs some upgrades, take note of those. See what elements of the home work for you and which areas you would consider renovating or giving some TLC in the future. And remember, paint colour is an easy, relatively inexpensive change
