Lets discover the 8 Steps to buy a house:
Step 1 Decide Where and What to Buy
Step 2 Getting Pre-Approved for a Mortgage
Step 3 Choosing the Right Realtor®
Step 4 Becoming an Educated Buyer
Step 5 Making an Educated Offer
Step 6 Conditions, home inspections and waivers
Step 7 Preparing to Move
Step 8 Move in – Enjoy!
Are you in a searching for a property in Victoria BC? Properties in Victoria can vary in category from House search, Single Family Detached (SFD) or Strata Duplex Unit (SDp). As a buyer you might also seraching condo or strata for sale in Victoria BC. Or maybe interested in a land to build your dream house.
Buyers who are in real estate market are:
First time buyers:
Many first timers can enter the real estate market by searching for properties online or off-line. Don't forget the importance of having a knowledgeable Realtor in Victoria. Victoria realtors can provide benefitial assistance to help make your home search much easier.
Looking for investment property. These buyers are in search for cash flow and capital gain.
This buyers are either downsizing or have a growing family from their existing real estate needs.
Here are the categories you can find in AxelRealtor.ca site and if you're seaching for a realtor in Victoria BC, with Axel Ziba Realtor from A to Z all your Real Estate needs are covered.
Property search victoria BC:
House for sale victoria BC
Condo for sale Victoria BC
Land for sale Victoria BC
Where and what to buy:
Congratulations on taking this first step toward buying a home. Pride of home ownership is indeed
one of life’s greatest joys and biggest accomplishments. It is an exciting time and my hope is that
this guide will bring clarity and peace of mind during your home buying journey.
Let’s get started! The first step is deciding where you want to live, what type of home you are
looking for and what features are “must have’s” or “would be nice to have’s” in a home.
Invariably, there will be tradeoffs, but rest assured I am here to help sort through the options to
find you the best house, at the best price and with as many of your wants and needs as possible.
To view my Key question please go here.
Getting Pre-Approved for mortgage
The mortgage industry is a highly competitive field and it is important to understand that interest
rates can change at any time. Partnering with a mortgage broker or financial institution to help you
find the right mortgage product at the best rate is key to your home buying process.
5 Easy Steps to Get You Pre-Approved For a Mortgage:
1. Talk with a mortgage specialist. There are hundreds of options to choose from when it
comes to lenders. Independent mortgage brokers tend to offer the most options because
they do not just work with one bank. However, if you have a good relationship with your
bank or financial institution, contact them as your first step towards finding the right
mortgage for you. But be sure to compare rates.
2. Complete and submit your application with the mortgage broker. They will collect your
financial and personal information in order to find out how much mortgage you can carry.
3. Gather all the necessary documents. The mortgage broker will give you a list of documents
that the banks/lenders need to finalize the mortgage.
4. Verification of your details. They will do their checks and balances to make sure that you
are not getting in over your head.
5. Obtain a copy of your pre-approval. This is a powerful negotiating tool. The seller of your
dream home will feel more confident that you are the right person.
Having that Pre-Approval Documentation Can Offer You Several Benefits:
• Save you time by only looking at properties that you can afford.
• Save you money. Rate guarantees and mortgage terms can save you money for years to come.
• Less stress throughout the process. You will know that you are ready and capable of buying a home.
• Get a better deal on the home that you want. Sellers like to know that buyers already have financing in place.
Choose the right REALTOR®
First, it’s important that you understand whose interests Realtors® are legally bound to serve in a
real estate transaction.
The Listing Agent:
The Listing Agent is under contract with the seller to market and sell their property for the best
possible price. Working with a listing agent means that they can:
• Arrange a showing of the property.
• Assist with financing the property.
• Provide details about the property.
• Explain all the forms and agreements related to buying the property.
Your Personal Realtor®:
When you engage the services of your own personal agent—someone who is under contract to
work solely in your best interest—you get all of the same services listed above plus your personal
• Confidential assistance that addresses your needs first.
• Honest, loyal and diligent care, free from any conflicts of interest.
• Access to all listings including MLS, bank-owned properties, distress and estate sales, even homes that were previously on the market where the seller might still be interested in selling.
• Expert advice on useful clauses such as home inspections and financing to protect you fully.
• Expert negotiation of the offer to purchase, to achieve the best possible price and terms.
• Expert advice on market value, inclusions, location, as well as help you decide when you should walk away.
• Discovery and disclosure of all information about the property including liens, warranties, disclosures, seller’s purchase price, and market and planning activity in the area.
As your Personal Realtor®, our job is to ensure you are an educated buyer in all aspects of your home buying process.
Become an educated Buyer
My exclusive Home Buyer Service Program will empower you with key market information and every possible advantage to ensure you become an educated buyer. Educated buyers are able to make informed decisions creating a stress free and enjoyable home buying process.
Here’s what you can expect from me when you enroll in my program:
• Absolutely no fees or costs to you as my buyer.
• Access to property listings from a variety of advanced property search programs.
• Access to a database of expired listings that may reconsider selling.
• Proactive prospecting within your desired area to locate potential sellers with homes that match your criteria, that are not actively for sale on the market now but may be considering selling.
• Access to For Sale By Owner homes that match your criteria.
• Up-to-the-minute access to the best deals on the market, including brand new MLS listings, newly price reduced properties, current bank power of sales, new home options, private sales and deals under contract that have fallen through.
• The most current real estate market information that may impact your buying decision, including mortgage changes, statistical sales data on median house prices, sales and months of inventory, local area market changes, trends and much more.
The Educated Process:
1. After our initial fact gathering meeting, I enter a detailed summary of your wants and needs for a home into my database and a variety of property search programs.
2. I won’t bombard your email with information that is not relevant to you. I will provide daily update emails on all the homes that are new to the market or have had a recent price change and that match a broadened scope of what you are looking for.
3. As market area specialists with a pulse on local and national real estate market trends and changes, we also ensure you are kept informed of all relevant industry changes that may impact your buying decision, including price trends and mortgage rates.
4. I personally inspect all the potential properties in the area and take in several listings ourselves. This hot new listing information is passed on to my clients first.
5. You get all the information about every property – the same information only I, as a Realtor®, have access to.
6. When you find a home that peaks your interest, simply contact me and I will arrange a convenient time to view.
Remember, when selecting what homes to view…
• Choose different styles and types of home that meet your needs.
• Drive by the home and area for your first impression.
• Select a maximum of 5 homes to visit in one day (3 to 4 is best).
• Schedule time after the showings to sit down and discuss the homes’ merits.
Making an Educated Offer
The ongoing communication and education you will receive from our team will empower you to get the best possible deal on the home that you desire.
You’ve found the one. Fantastic! Here’s what happens next:
1. I will conduct a detailed CMA (Comprehensive Market Analysis) complete with comparable active and expired listings, recent solds and historical data relevant to determining the market value of the home. This will empower you to make an informed decision.
2. I will prepare an offer that protects you, follows your instructions and matches your schedule and needs.
3. I will explain the details of the offer, the terms and suggest options for specialty clauses ensuring you know exactly what you are agreeing to.
4. I will present and negotiate the offer on your behalf to get you the home that you want at the price and terms you want.
What happens after this:
• The seller may accept your offer – congratulations!
• The seller may reject your offer – not common, but it can happen and I would endeavor to find out why.
• The seller may counter sign, changing the terms of the offer and present the offer to back to you.
• Our negotiations continue to reach agreeable terms between the seller and yourself, or until I know an agreement cannot be reached and it is time to walk away.
Conditions, Home Inspections, and Waivers.
The offer has been accepted. Now we need to satisfy the conditions.
This usually involves performing a home inspection, getting the rest of your personal information and the property information to your mortgage broker or bank, and arranging for the other information that might be necessary, like surveys, water tests and condominium documents. I will help you make the necessary arrangements to ensure that the entire process runs smoothly before the deadline.
Next, you will need to add some people to your team:
Finding a Home Inspector
Home inspections allow you to scrutinize the details of the home and save you from some unpleasant surprises. I would be happy to recommend a reputable home inspector, however, when making your decision….
• Ensure that the home inspector is a qualified professional. Being a member of anAssociation can reassure you are getting an experienced, knowledgeable professional.
• Ensure the home inspector checks for visible issues with plumbing, electrical systems, the roof, insulation, walls, ceilings, floors and windows, and the condition of the foundation. They can also check that included chattels, like furnaces and air conditioners, are in working order.
• Ensure your home inspector gives you an up close and personal look at your new home. It takes about 3 hours to go through all the systems, and if there are any problems, you will see them with your own eyes. They will also give you maintenance tips and easy fixups, if necessary.
• Ensure that in the end, you receive a detailed report that summarizes the condition of
Choosing a Lawyer:
Lawyers are an invaluable member of your team whose job is to ensure that you get what you are paying for and in accordance with the terms of your agreement of purchase. Your lawyer will ensure:
• There is nothing on title that is not supposed to be there.
• The property taxes, utilities and condo fees, if applicable, are up to date.
• You have all the information that you need about your new home.
• Your mortgage lender is satisfied and that your mortgage is secured on property title as required by your mortgage agreement.
• You know exactly how much money you will need in order complete the transaction on closing day.
• They also ensure that the seller gets paid the purchase price.
Prepare to Move:
Typically you will have anywhere from 30 to 90 days to get everything ready for your home. It could be shorter or longer, depending on what you need and have agreed upon with the seller. The closing date is usually the same as your move-in date. It is a good idea to get things organized well in advance of the closing date to reduce the stress of the move.
• Lawyers: I will send your lawyer the information about your purchase. You will need to provide the lawyer with some additional information: insurance, down payment information, fee payments, adjustment payments and possibly other signed documents that they ask you for. You will meet with the lawyer about a week before the closing to finalize everything.
• Down Payment and Closing Costs: Make the necessary arrangements to have the funds available when the lawyer asks for it. Liquidating some assets can require some additional time.
• Movers: Whether you are using professional movers, renting a truck or getting a bunch of friends together, plan and organize it early.
• Insurance: The lawyers will need a copy of your home insurance before closing so that the financial institution will release the money to them. Call your insurance broker with the listing information. They might also want to know the age of the house, the condition of the roof, furnace, electrical system, as well as other general information.
• Change of Address: It’s time to start giving out your new address to everyone. Use my checklist to make sure you have everyone covered.
• Utilities: It is important that you call the local utilities to get their services changed into your name. These include phone, internet, television, gas, electricity, water, and any rental agreements. Remember, too, to cancel the services at your old address.
Buyer's Guide Step 1
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Buyer's Guide Step 5 and Final: