Buyer's Information

Guide to Buying Your Home

Royal LePage Brokers
Buyer Agency
Benefits Of Buyer Agency
Property Inspection
Mortgage Pre-Approval
Home Search Information
Writing an Offer
Offer Check List
Estimated Time Chart
Professionals You'll Need

 

1. Working with Pauline and Catherine
You can place confidence in our ability.

Advantages of Working With Pauline and Catherine
You become familiar with how we work
You develop rapport necessary to communicate easily
We come to understand your particular needs
We pledge to make a commitment in time and effort
to you because we know that you have committed to
work only with us

What We Can Offer You
Agency Representation
Financial Information
Knowledge of the Neighbourhood
Appropriate houses to consider (what you want and what you
can afford in an area in which you want to live)
Active Effort to find you the Right home

MLS MEMBER
As a member of the Multiple Listing Service, we can show you any property. If you should see an ad in the paper or a sign in a yard, call us to find out the information.
If you want to see it, we'll show it to you.

 

2. Buyer Agency
As part of a mutual agreement, you can elect to create a buyer agency relationship with us that will entitle you to the fiduciary client level services.

These fiduciary client level services include:

Loyalty
Obedience
Disclosure
Confidentiality
Accounting in dealings


As buyer's agents, we will represent you and your interests in the purchase of your home. We will exercise our duty of honesty and fair dealing and our duty disclose all facts known to the broker which materially and adversely affect the consideration to be paid for the property.

A dual agency situation can arise if we have entered into an agency relationship and subsequently we look at a property listed with our company. This is a potentially
challenging situation because it is difficult to afford both parties full client level services.Dual agency will only be entered into with the written agreement of both buyer and seller.

Agency is a legal relationship and a written agreement should be completed to explain all the duties and responsibilities.

 

3. Benefits of Buyer Agency
.

Loyalty; Royal LePage must act in the best interest of you, the buyer, above all others
Obedience; We must follow your lawful instructions in the transaction
Disclosure of all material facts; We must disclose any information known to us which might affect your decisions in the transaction - for example:

Relationships between Royal LePage and other parties
Existence of other offers
Status of deposit money
Seller's financial condition/motivation to sell (if known)
Property's apparent true market value range
Who pays us, and how much
Legal effect of important contract provisions


Confidentiality
We must keep in confidence any discussions, facts, or information that should not be revealed to others or which might jeopardize your bargaining position -but we must still deal fairly and honestly with all parties.

Accounting in dealings
We must account for any money placed in the hands of Royal LePage (usually the deposit money)

Reasonable Care and Skill
We must take care to discover material facts and disclose them to you. Our advice must be consistent with what is to be expected from competent Real Estate Brokers.

 

4. Property Inspection
You can include provisions in the sales contract.

You can include a provision in the sales contract that gives you the right to inspect the mechanical, electrical, plumbing and structural portions of the property. There are inspection companies that provide services of this type. You should accompany the inspector to ask questions and receive a written report itemizing any areas of potential concern.If concerns arise you can request the seller to make repairs at his expense, or choose to correct matters yourself, or, in extreme cases, you may prefer to cancel the contract.

 

5. Mortgage Pre-Approval
Many buyers apply for a loan and obtain approval
before they find the home they want to buy.


Here are the benefits:
You look at the right homes.
You save money dealing with a comfortable seller.
You complete your purchase more quickly.
You minimize trauma of not knowing whether or not you qualify.

 

6. Home Search Information
What things are most important to you in your search for a new home?

Please take some time to answer the questions below so we can talk about and focus on these very important issues.
Are schools important? If yes, which ones and why:
Where do you want to live?
What style home do you prefer?
When do you want to move in?
How many bedrooms?
How many baths?
How many living areas?
How many home office spaces?
What size garage?
Where do you work?
When is the best time to look at homes?
When we find the right home for you, will there be anything that could keep you from buying it?
Does anyone else have to approve of your purchase?
Have you chosen a lawyer, home inspector or mortgage lender?


7. Considerations When Writing an Offer

Has the owner completed a property disclosure statement?
If yes: May I see a copy before my building inspection?
What type of financing is available on this property?
What would be a reasonable repair expense amount for this home?
What were the details of recent sales in the area?
Are there plans for anything that might affect the value presently or in the future?
What will be the estimated closing costs with the approximate monthly payments?
What is the amount of land transfer tax to be paid?
Are there any leased appliances for which I must assume responsibility?

Land Transfer Tax

Purchase Price
0 - 55,000


x .005

  } =LTT

55,001 - 250,000
250,000 - 399,000
400,000 +

x .010 minus 275
x .015 minus 1525
please inquire

 

Purchase
Price

Land Transfer
Tax

Purchase
Price

Land Transfer
Tax

  $100,000

  $725

  $260,000

  $2375

  $120,000

  $925

  $280,000

  $2675

  $140,000

  $1125

  $300,000

  $2975

  $160,000

  $1325

  $320,000

  $3275

  $180,000

  $1525

  $340,000

  $3575

  $200,000

  $1725

  $360,000

  $3875

  $220,000

  $1925

  $380,000

  $4175

 

8. Offer Check List

Notify mortgage officer and solicitor
Order structural inspection  
Notify landlord
Call movers  
Transfer utilities (water, electricity)
Order telephone service, cable TV
Send change of address cards
Arrange house insurance  
Arrange with solicitor to sign documents
Conduct pre-closing inspection  
Make extra keys/change locks
Change driver's licence, credit cards

 



9. Estimated Time Chart
The following time table has been suggested to give you an idea of the timing of the different events in the home buying process.

This is meant to be a guide. If you have any questions, please ask us.
Weel 1, after conditional acceptance of your offer:
Deposit cheque to agent
Have solicitor review offer
Pay for mortgage appraisal /CMHC Fees
Conduct property inspection
Confirm insurability of new home
Secure final mortgage approval fiom bank or trust company  
Week 2, offer is now a firm and binding agreement:
Arrange for transfer of utilities
Arrange for house insurance
Arrange for movers
Week Before Closing
Arrange with solicitor for payment and signing of documents
Arrange for certified cheque for closing
Conduct pre-closing inspection if included in the offer
Confirm house insurance and utilities arranged

 

 

10. Professional Contacts
In addition to us, you will probably need the help of professionals from each of the following categories.


These names have been offered because we believe them to be reputable and competent, and either have used, or would be glad to use them ourselves. This is a partial list only, and others may be found in the Yellow Pages under the appropriate headings.

Mortgage Contacts:
 

Deborah Henderson-Debuc
Bank of Montreal
14 Beechwood Avenue
Vanier, ON K1L 8B4
tel: 613-742-8392
fax: 613-742-7825
 


Inspectors:

Bottriell & Associates
260 Hearst Way Suite 209
Kanata, ON K2L 3H1
tel: 613-591-0580
tel:613-234-3000
fax: 613-591-9501

H.J. Bradford Group Inc.
Harry J. Bradford
Manotick, Ont,
tel: 613-489-0464


Lawyers:

Taffy J. Nahas
415-1335 Carling Avenue
Ottawa, ON K1Z 8N8
tel: 613-761-1000
fax: 613-761-1091

Ron Scott
420-1335 Carling Avenue
Ottawa, ON K1Z 8N8
tel: 613-725-3723
fax: 613-729-8613



Mortgage Consultang
INVIS Financial Group
York Polk
212-1335 Carling Avenue
Ottawa, ON K1Z 8N8
tel: 613-798-1973
fax: 613-798-1137




Kevin Kelly
HomePro Inspection
Ottawa, Ont,
tel: 613-860-4848
www.intranet.ca/~kevinkelly




 

 



Mark Arbique
210-1335 Carling Avenue
Ottawa, ON K1Z 8N8
tel: 613-725-0303
fax: 613-725-1292

John Bogue
802-200 Elgin St.,
Ottawa, ON K2P 1L5
tel: 613-234-4901
fax: 613-236-8906