Buying Selling Real Estate Hamilton Ontario
Ada Greatrix
Realty Network:100 Inc., Brokerage
Sales Representative
Ada Greatrix
Real Estate Transaction Professionals
The typical real estate transaction involves at least two dozen separate individuals – insurance brokers, mortgage brokers and underwriters, inspectors, appraisers, lawyers, buyer’s agents, seller’s agents, bankers and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.
Home Inspectors
Many buyers are also writing offers conditional on a satisfactory home inspection. This is a cost of about $300 - $400. A home inspector does not pass or fail a home, but describes the property’s strengths and weaknesses. This service also includes recommended costs of repairs and provides you with details as to the physical condition and working systems of the home. If the home inspector’s report is not satisfactory to you, you can decide not to purchase the home, and your deposit is returned without penalty. If the home inspection shows deficiencies which the buyer is unwilling to accept re-negotiation of the offer is also possible or the seller can agree to correct the problem..
Insurance
Brokers
Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important.
A home owner’s insurance policy protects you in two ways:
1. Against loss or damage to the property itself
2. liability in case someone sustains an injury while on your property
Financing a
Mortgage
Most offers to purchase are conditional on financing as most purchasers don’t have all the cash to match the purchase price. You are usually given 5-10 banking days to arrange a mortgage.
If the financing cannot be arranged, the deposit cheque is returned without penalty. It's always advised to get pre-qualified by your bank or lending institution ahead of time so you are in a better bargaining position.
Real Estate Lawyers
When the financing is arranged and a successful home inspection completed – there is a firm deal and the SOLD sign is attached to the home. Now we must prepare for the closing date. This is where your lawyer takes over to a certain degree we are still involved in obtaining anything the lawyer may need and handling any question you may have setting up any re-visits to the property. You will need to meet with the lawyer a few days before closing to sign all the paperwork necessary to transfer the deed and close the deal.
Contractors
Protect your investment
Even after you close on your house, you agent and you have gotten
to know each other and just becasue the deal is closed your agent
still wants to keep in touch and can continue to help you:
1. Recomend a variety of professionals used in home maintanance.
2. Find contractors to help with home maintenance or remodeling.
3. Help your friends find homes.
4. Keep track of your home’s current market value.
Attention to your home’s maintenance needs is essential to
protecting the long-term value of your investment for years to
come. Home maintenance falls into two categories:
1. Keeping it clean: Perform routine maintenance on your home’s systems, depending on their age and style.
2. Keeping an eye on it: Watch for signs of leaks, damage, and wear. Fixing small problems early can save you big money later.
Home Stagers
Staging your home is a great way to help you get a higher return.
Profession stagers can increase a home’s appeal to people from ages 18 to 80!
The process of staging a home can be as simple as offering a few suggestions, moving around what is already there or from changing a few colours to bringing in new furniture and accessories giving a home an entirely new look. It all depends on how much you want to devote of your time or money to give you the best return on your investment. A professional stager will help home owners achieve a professionally designed look and give an edge over the competetion.
Moving Companies
If you don't plan on gathering your friends for the big favour of the move, finding the right movers can be a daunting task. You want to hire professionals who are going to take care of your things as if they were their own. Make sure the company you hire is bonded and licensed and get everything in writing ahead of time so that there are no issues down the road when it comes to the exact details of what was included and specific details of the pricing.
Specialists in
their specific
Areas of Expertise
The property inspection show expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers.
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Your major concern is structural damage.
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Don’t sweat the small stuff. Things that are easily fixed can be overlooked.
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If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.
Appraisers
Discount Pricing at the Brick
A professional appraiser is different than a comparative market analysis which is based on the market value of comparable homes that have sold in the area. An appraisal costs a fee of anywhere from $600-$1000 and done by a certified appraiser. A bank will usually want one done when either a property is not listed on the MLS or if a buyer is putting more than 20% down and therefore the mortgage is not insured from CMHC so they want to make sure that the home's purchased value is accurate.
I have available exclusively to all my clients, factory direct pricing at the Brick Furniture Store, so whether you are looking to stage a home to sell or want to redecorate or furnish your existing home don't hesitate to let me know and I'll assist you with any of furnishing or decorating needs.
Buying a home is a major financial and emotional step, and success or failure will rest largely in the hands of your agent. Select an agent just as deliberately as you would a doctor, lawyer or accountant. Never work with an agent just because he/she happens to be holding an open house at a home you like. If you have encountered an agent at an open house or seminar who seemed knowledgeable, add him/her to your list. Then interview the candidates regarding their qualifications, experience, and services. Make sure you check with at least three past-client references for each agent.
You will get the best service and loyalty working with a single good agent who knows you are also loyal. You will know your agent is doing a good job if you hear from him/her regularly, the advice he/she gives makes sense, and you are aware of him/her working hard on your behalf. If your agent is not giving you the service and attention you want, fire him/her and find someone else.