Finding the perfect home doesn't happen in one day. There are a number of things you can do to
simplify the process, including defining financial parameters, potential neighbourhoods and the
desired features in your next home.
Do you need an extra bathroom, a garage, a fenced backyard, or lower utility bills? Do you want a
fireplace, a short drive to work, or maybe minimal yard work? Once your list is complete, decide what is
most important to your lifestyle.
Then it's location, location, location. Location affects your day-to-day living and is one of the most
significant influences on value. Your choice of location may be limited somewhat by the price you can
afford. Even so, make sure you consider such things as distance to work, schools, shopping and
entertainment.
What type of property do you want? A single-family detached home is attractive to many people
because it typically provides more living space and land. On the other hand, a condominium may be a
more appropriate choice for you, with an emphasis on maintenance-free living.
I can help you analyze all of these buying issues. A REALTOR® working as a buyer's agent works to
find the connection between homes available in the market and the needs and financial capacity of
buyers. I can help you navigate through this complicated business transaction. Be comfortable and
confident with me as your REALTOR® and partner in the process..
Knowing your needs will enable me to use the tools I have at my disposal to search and find homes
that meet your criteria. When you select a property and decide to visit a house, there are many things to
consider. Does it have all the features you wanted? Is the neighbourhood what you expected? Try to
picture your favorite furnishings in a room.
Once you find the house you want to make your home, I will help you develop an offer. In the offer, you
should specify how much you're willing to pay. State when the offer expires, and suggest a closing date
for the transaction. You can also propose some conditions on the offer. I can advise you on this.
One common condition is to make the purchase conditional on an inspection by a qualified home
inspector. You will need to present a deposit along with your offer. An appropriate deposit will show
your good faith to the seller. The seller's agent is bound by law to bring all offers to the seller's attention.
After your offer is accepted and all the conditions are met, the offer becomes binding on both sides. If
you walk away from the deal at that point, you may lose your deposit. You may also be sued for
damages. Make sure you understand and agree with all of the terms of the offer before signing.
No matter what type of home or property you're buying, plan on some extra expenses. In P.E.I. you may
have to pay a land transfer tax (a sales tax on property).
You may also have to pay:
a mortgage Broker's fee:
an appraisal fee;
surveying costs (if the seller couldn't come up with a current survey); and,
a high-ratio mortgage insurance premium.
an interest adjustment. Mortgages are normally calculated from the first of each month: if your closing
date is the same as the beginning of your mortgage, there will be no adjustment. However, if your
closing date is July and you move in on June 15, those last 15 days are the interest adjustment period.
Your lender will expect you to cover the cost of the interest during that time.
You'll also have to reimburse the seller for the unused portion of any prepaid property taxes or utility
bills. As well, you must also pay any legal fees, and be prepared to furnish proof to your lender that you
have insured your new house as well.
Before the property can formally change hands, there are still a few things to do. On or before closing
day, your lawyer and the seller's lawyer will arrange to transfer title of the property from the seller to you.
The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your
lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.
I can help you through the entire process. Contact me today.
Glen McQuaid 902-388-0981
simplify the process, including defining financial parameters, potential neighbourhoods and the
desired features in your next home.
Do you need an extra bathroom, a garage, a fenced backyard, or lower utility bills? Do you want a
fireplace, a short drive to work, or maybe minimal yard work? Once your list is complete, decide what is
most important to your lifestyle.
Then it's location, location, location. Location affects your day-to-day living and is one of the most
significant influences on value. Your choice of location may be limited somewhat by the price you can
afford. Even so, make sure you consider such things as distance to work, schools, shopping and
entertainment.
What type of property do you want? A single-family detached home is attractive to many people
because it typically provides more living space and land. On the other hand, a condominium may be a
more appropriate choice for you, with an emphasis on maintenance-free living.
I can help you analyze all of these buying issues. A REALTOR® working as a buyer's agent works to
find the connection between homes available in the market and the needs and financial capacity of
buyers. I can help you navigate through this complicated business transaction. Be comfortable and
confident with me as your REALTOR® and partner in the process..
Knowing your needs will enable me to use the tools I have at my disposal to search and find homes
that meet your criteria. When you select a property and decide to visit a house, there are many things to
consider. Does it have all the features you wanted? Is the neighbourhood what you expected? Try to
picture your favorite furnishings in a room.
Once you find the house you want to make your home, I will help you develop an offer. In the offer, you
should specify how much you're willing to pay. State when the offer expires, and suggest a closing date
for the transaction. You can also propose some conditions on the offer. I can advise you on this.
One common condition is to make the purchase conditional on an inspection by a qualified home
inspector. You will need to present a deposit along with your offer. An appropriate deposit will show
your good faith to the seller. The seller's agent is bound by law to bring all offers to the seller's attention.
After your offer is accepted and all the conditions are met, the offer becomes binding on both sides. If
you walk away from the deal at that point, you may lose your deposit. You may also be sued for
damages. Make sure you understand and agree with all of the terms of the offer before signing.
No matter what type of home or property you're buying, plan on some extra expenses. In P.E.I. you may
have to pay a land transfer tax (a sales tax on property).
You may also have to pay:
a mortgage Broker's fee:
an appraisal fee;
surveying costs (if the seller couldn't come up with a current survey); and,
a high-ratio mortgage insurance premium.
an interest adjustment. Mortgages are normally calculated from the first of each month: if your closing
date is the same as the beginning of your mortgage, there will be no adjustment. However, if your
closing date is July and you move in on June 15, those last 15 days are the interest adjustment period.
Your lender will expect you to cover the cost of the interest during that time.
You'll also have to reimburse the seller for the unused portion of any prepaid property taxes or utility
bills. As well, you must also pay any legal fees, and be prepared to furnish proof to your lender that you
have insured your new house as well.
Before the property can formally change hands, there are still a few things to do. On or before closing
day, your lawyer and the seller's lawyer will arrange to transfer title of the property from the seller to you.
The mortgage money will be transferred to your lawyer's trust account, and then to the seller, and your
lawyer will bill you all additional expenses such as land transfer taxes or outstanding legal fees.
I can help you through the entire process. Contact me today.
Glen McQuaid 902-388-0981
Glen McQuaid
I am totally focused on
my client's needs, and I
work to realize their real
estate goals.
Glen McQuaid
Prudential Prince
Edward Realty
my client's needs, and I
work to realize their real
estate goals.
Glen McQuaid
Prudential Prince
Edward Realty
BUYERS:
Prudential Prince Edward Realty
Glen McQuaid
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| 902.388.0981 glenmcquaid@yahoo.ca |
copyright © 2003-2009 An independently owned and operated broker member of The Prudential Real Estate Affiliates, Inc., a Prudential company, owner of the trademarks. Used under license.