Buy a property

BENEFITS OF USING A REAL ESTATE BROKER TO BUY A HOME

Buying or selling real estate is a complex transaction that requires specialized knowledge and skills. Real estate brokers have this know-how and can make the transaction much smoother and stress-free. A broker can handle everything and expertly guide you through each step of the buying or selling process. A real estate broker is your most trusted ally when it comes to buying the right house at the right price.

DETERMINE YOUR BUDGET

Before you even start searching for houses, you need to figure out how much you can you afford for a new home. This will allow you to set a reasonable purchase price and better guide your search. Your monthly housing budget is:

• Your net monthly total income
  Minus all:
• Non-housing debts & expenses (such as food, transportation, insurance, entertainment, etc.).

The amount left over is how much you can afford to pay each month for your home. Keep in mind that this amount also needs to cover things like monthly mortgage payments (principal and interest), taxes, as well as electricity, heating and condo fees, if applicable.

FINDING AND VISITING HOMES FOR SALE

Finding the right properties to visit is often the trickiest part of buying a home. Consider your broker your personal real estate Sherlock Holmes! We have the best real estate brokers in Quebec to help you.

Expert tip: Prepare beforehand and keep your eyes open during visits. If you like a property, visit it at least twice – ideally once during the day and later again in the evening, both during the week and on the weekend. This will give you a general sense of traffic levels, ambient noise, lighting, neighbourhood “feel”, etc. Once you find your dream home, you’ll need to calculate the amount of the loan required to buy the house.

MAKING AN OFFER TO BUY THE HOME

Want to make an offer on a home? Real estate brokers have the tools to evaluate its real market value based on comparable properties that have recently sold. Your broker will help you determine the right amount to offer.

Your broker will also write the promise to purchase for you and ensure the entire document is filled out correctly. If the seller comes back with a counteroffer, your broker can advise you on an acceptable follow-up counteroffer.

EXPERTS INVOLVED IN THE HOME-BUYING PROCESS

Most home buyers will need more than just the help of a real estate broker. They will probably also need to work with a mortgage broker, building inspector, land surveyor and notary. Your real estate broker can recommend professionals you can trust.

TRANSFER OF OWNERSHIP

Once the promise to purchase or counteroffer has been accepted, the sale needs to be finalized. This is done by signing of the deed of sale in the presence of a notary, who also notarizes the transaction. Your real estate broker will continue to support you during this important and final step.