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An Explanation of
the Process |
| A REALTOR will
not take it for granted that you know all the ins and
outs of the buying/ selling process. Instead, he or she
will provide you with a full explanation of what to
expect and that's important so you're not faced with any
surprises along the way. |
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An
Assessment of Your Needs |
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One of the
first questions a REALTOR will ask is, Why are you
moving? A REALTOR will also explore any time constraints
you might have (perhaps imposed by the need to relocate
for employment), your financial situation and any future
plans. |
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| A Plan
to Find Your Dream Home |
| A REALTOR will
help you identify what you want in your new residence. A
pool? A garage? An extra room? A particular building
design? What about the neighbourhood? Proximity to
schools or work? A REALTOR will compare your needs,
wants and budget with what is available on the market
and make recommendations that save you time and effort. |
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He or she will
also accompany you as you view houses and help you
assess their suitability and price.As an expert on a
property, a REALTOR can provide facts on the
neighbourhoods, the cost of heating, the condition of
the furnace, and so on.
In other words,
he or she will work with you to achieve your dream.
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Access
to Properties for Sale |
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Multiple
Listing Service or MLS is an exclusive service
accessible only through a REALTOR and it can be a
valuable tool. Through MLS, the details of a wide variety
of listed properties are made available to the REALTOR
you work with. That can save you a tremendous amount of
time and effort in your hunt for the right home. If you are
interested in learning about what is available on the
market please check out my Toronto Listings page, which
enables you to preview properties for sale
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Knowledge of Financing Options |
| REALTORS have
extensive knowledge of the financing choices available
to home buyers and there options and obtaining financing
at the most attractive prevailing rates and terms. |
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Skilled Negotiator |
| REALTORS are
experienced in arranging fair deals. He or she will
assist in negotiating an offer, acting as a mediator to
head off potential conflicts between you and the seller,
and draw up a legally binding agreement. |
| Honesty
and Integrity |
| Most real
estate professionals in our province are member of the
Ontario Real Estate Association (OREA) and only members
of OREA can call themselves REALTORS When you work
with a REALTOR, you can expect not only strict adherence
to provincial laws, but also adherence to a Code of
Ethics. And that code is very important to you because
it assures you will receive the highest level of
service, honesty and integrity. |
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Highest
Professional Standards |
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Before
receiving a real estate license, candidates must
successfully complete an extensive course of study
developed by OREA on behalf of the Real Estate Council
Ontario. That is only the beginning: in the first two
years of practice, licensees are required to
successfully complete three additional courses as part
of their articling with an experienced broker. In
addition, all licensees must continue to attend courses
throughout their careers in order to maintain their
licence.
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A new home is
a very important purchase in your life and can be a complex process.
| Check your
Credit |
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Before you apply for a home loan, regardless of your
credit, it's a smart idea to obtain a copy of your credit report
and review the information. If there are errors or things that
need to be addressed, it's easier to address them before you
have found a house, than after you have found a house and are
trying to close your loan. |
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| Get
approved before you buy
An approval means that a lender has reviewed your
credit history, verified your assets and employment, and has
approved your loan before you have found a home to purchase. As
long as the home appraises for at least the purchase price, the
loan should close.
Getting approved also gives you an advantage over other buyers.
Your firm approval makes it easier for you to negotiate on the
price of a home.
Find a
great Buyer's Agent
Traditionally real estate agents represent the
sellers in a transaction. When you are not working with a
buyer's agent, they are less likely to negotiate the best price
or contingencies for you.
Before working with an agent, establish if they are a buyer's
agent or a seller's agent.
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| Learn about
the Neighbourhood |
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Often times the house you find may be in a
neighborhood that you're not familiar with. This just means
that you'll have to do a little more research. If you find a
house that you like, ask for a list of the neighborhood
properties that sold in the last year.
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Check out the schools - A good school district means
your neighborhood will always be valued by families which is a
great reassurance to purchase, not to mention the value-add if
you have school-age children.
Next, contact the police station and obtain crime statistics.
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Talk to the neighbors. The more people you talk to,
the better sense you will get of who makes up the neighborhood
and how they will effect your time spent in it.
Check out the location of the shopping, police and fire
stations, schools, and air traffic overhead. These are all
things that might affect your property value or quality of your
life. |
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| Protect
Yourself |
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Ask your Realtor for a copy of the documents you
will be asked to sign if you decide to buy the house. Read them
ahead of time so that you'll understand the questions that you
will be asked, the things you need to know, and the decisions
you will need to make. |
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