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Why work with a real estate agent to purchase property?

The mandate of your real estate agent is to look after your best interest. They will provide you guidance and advice throughout the home purchase process. They will do things like:

  • provide you with market data to let you know the price range in which the property that you’re interested in should fall, so that you can determine your offer price

  • provide advice regarding which conditions should be included in your offer to protect your best interests

  • inform you of all the important facts which would be important in your decision whether or not to buy and the price to offer

  • provide advice regarding who to seek help from for different aspects of the purchase (e.g. lawyer, inspector, etc.)

 

Overview of Purchasing Property

First, we will have an initial meeting to discuss the location and the type of home you are looking for. Before we begin the search, you should get in contact with a bank or a mortgage broker to get pre-approved for a mortgage. We will then begin our search to find the right home at the right price.

 

When we find the right property, we will present a written offer to the Seller. We will negotiate the offer with the other side as necessary. Once we have an accepted firm offer, the matter is forwarded to your lawyer and the buyer’s lawyer. The period between the date of acceptance of a firm offer and the closing date - escrow period - is generally at least 30 days to allow the lawyers and the buyer’s lender to prepare for closing. A few days before the closing day, we will do a walkthrough of the property to ensure that it is in the condition that we agreed upon with the seller. On the closing day, after the seller receives their funds, you become the registered owner of the property.

 

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