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Buying or selling a home?
When to call in the experts
Buying or selling a home is no simple business transaction.
It takes a team of experts and professionals
you can trust to achieve your goals and protect your interests.
Bringing in the right experts at the right time will ensure
your purchase or sale goes smoothly and you don’t pay
a big personal and financial price. The experts you need may
vary, but usually include the services of a Realtor,
a lender, a lawyer, a home
inspector and an insurance agent.
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Selecting your team - the realtor
Whether you’re selling or buying, the first individual
to get on your team should be a Realtor. In Ontario, a Realtor
is a licensed real estate professional who is a member of a
local real estate board as well as the Canadian Real Estate
Association (CREA) and the Ontario Real Estate Association (OREA).
This individual has successfully completed an intensive course
of study and has skills, knowledge and experience that most
buyers and sellers don’t have.
Having a Realtor act on your behalf has many distinct advantages.
The key benefit is that he or she can negotiate on your behalf,
advise you on how to proceed with your purchase or sale and
when to bring in the other experts and professionals you’ll
need.
The Realtor you select should be someone that knows the neighbourhood
you live in or want to live in, has a good track record and
will handle your sale or purchase as if it were their own.
One of the most important decisions you must make as a seller
is deciding the asking price of your home. A Realtor can help
you analyse your home and compare it with similar properties
for sale or recently sold in your area. A Realtor will also
develop a marketing plan for your home that may include open
houses, advertising and listing options. As well, a Realtor
will provide you with tips on small improvements you can make
to help your home ‘show’ better to prospective
buyers.
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the lender
Few people buy a home for cash. Most usually combine savings
with money borrowed from a lender through a financial arrangement
called a mortgage. Your search for a lender should begin with
your search for a home.
Your Realtor can assist you in evaluating the many mortgage
options and getting financing at the best available interest
rates and terms. When deciding which financial institution
or lender to deal with, begin with your own bank, credit union
on trust company -- they already know who you are. But shop
around and compare what different lenders have to offer.
We Have
a Mutual Objective To sell your home…
•At the highest possible price
•In the shortest amount of time
•With the most favourable terms
We will work together as a team to get
your home sold! Contact Sherry Wallace today, at 905-338-9000
or sherry@sherrywallace.com |
Source: Ontario Real Estate Association
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the
lawyer
Whether you are a buyer or a seller, it’s important
to have a lawyer to represent your interests. That’s
why you should have one on stand by before you put your home
on the market or begin your search for a new home. Real estate
documents, such as the agreement of purchase and sale, are
complex and should be reviewed by a lawyer who specializes
in real estate transactions.
As a seller, it’s wise to have a lawyer review an offer
to purchase before signing anything. As a buyer, when an agreement
is reached with a seller, a lawyer will help ensure you receive
valid title to the property and that it is clear of any registered
claims. Your lawyer will also calculate the amount of land
transfer tax you will be required to pay as well as any adjustments
to compensate the seller for prepaid bills.
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the home inspector
If you are a buyer, you can avoid a lot of expensive surprises
by bringing in a home inspector as a condition of your offer
to purchase. The older the home you plan to purchase —
even if it has been substantially upgraded — the more
potential there is for problems. Being aware of any structural
defects can help you decide whether you want to buy the property
at all, or for the price you are considering.
the insurance broker
For purchasers, another key member of the real estate team
is the insurance broker. Creditors and mortgage lenders, almost
without exception, require insurance on the home you buy before
any purchase can be finalized. Start by approaching the same
broker you use for other insurance policies — often,
you are able to negotiate a better rate. But still shop around
and ensure you get the coverage you need for what you want.
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