Ken Stef

Why Use a Realtor to Purchase Your New Home?

Negotiate the challenging road towards home ownership with the help of a REALTOR®.

Home buying is a complex process that can be daunting. You’ll find hundreds of potential properties advertised on dozens of Canadian websites. But which one is right for you?

With a REALTOR®, you can find not just a house, but a home. They can guide you through every step, explaining the market, the process and the paperwork. And when it’s time to make an offer, a REALTOR® can negotiate on your behalf.

Remember, a REALTOR® works for you and must, by law, look after your best interests. So explore around and learn how a REALTOR® can help you find what you’re looking for.

The value of using a REALTOR® to purchase a new home are as follows:

• 1. Your REALTOR® can help you determine your buying power -- that is, your financial reserves plus your borrowing capacity. If you give a REALTOR® some basic information about your available savings, income and current debt, he or she can refer you to a Mortgage Broker best qualified to help you.
• 2. Your REALTOR® has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your agent to find all available properties.
• 3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources. REALTORS® can provide local community information on utilities, zoning, schools, etc. There are two things you'll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
• 4. Your REALTOR® can help you negotiate. There are myriad negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.
• 5. Your REALTOR® provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. Your REALTOR® can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a copy of the title of the property. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Your REALTOR® or lawyer can help you resolve issues that might cause problems at a later date.
• 6. Your REALTOR® with the help of his Mortgage Broker can help you in understanding different financing options and in identifying qualified lenders that have the best options for your situation.
• 7. Your REALTOR® can guide you through the closing process and make sure everything flows together smoothly.