1. Why do I need Home Inspection?

It allows you to ensure the house does not come with any unforeseen issues – often of great expense

2. How do Realtor’s assess a home’s Value?

There are many factors to consider such as Comparables, Market Conditions, Location, Size, Age of Home, Condition of Home, Improvements etc

3. What is a Conditional Sale?

Certain conditions to protect the Buyer needs to be met or agreement becomes null or void eg: Finance. Home Inspection, Insurance, Status certificate etc

4. How long will it take to sell my Home?

Selling timeframe may vary for each city depending on market conditions, list price, location, condition of home and marketing

5. When is the best time to sell my home?

That depends on market conditions and everyone’s individual situation. Before selling, check to see what improvements can be made to get more money. For eg: declutter and clean your home, inspect floor walls, bathrooms, kitchen (as these are the selling features)

6. What do I need to qualify for a mortgage?

You will need Down Payment, proof of Employment, proof of Income, Credit Score. Your income stability and Debt Service Ratio will be assessed.

Lenders will look at four C’s when it comes to obtaining a mortgage:

Capacity: What is your capacity to pay back loan on time every month

Capital: What money, savings or cash do you have readily available

Collateral: What is the value of the property you are wanting to purchase and will it be enough to cover mortgage debt if payments are missed

Credit Score: Do you have a good credit score and history of paying bills on time

Lenders want proof of stability

7. How much of a Down Payment do I need to buy a Home?

If you are a First Time Home Buyer its 5% on the first $500,000 and 10% on the rest up to 1.5 million with mortgage insurance. For Homes over 1.5 million, its 20% 

8. How long does it take to buy a Home?

It is recommended to obtain pre-approval prior to initiating home search. It could take several months depending on closing date and conditions that need to be satisfied etc

9. Do I need a Realtor to buy a New Home Build?

It is highly encouraged, We can guide you through the whole process and help look for details that you may not know to look for. As a Buyer, you do not pay commission, so having a Realtor on your side is a free benefit

10. Why should I work with a Realtor?

We provide a lot of value to our Clients whether buying or selling a home. We know the market area and can help you avoid costly mistakes in regards to contracts and provide relevant market data

11. Why should I hire a Realtor if I can sell my home myself and save on commission?

Selling your home yourself could not only cost you actual dollars but it could also cost you added stress. Realtors are professional marketers and negotiators, you may save yourself the cost of commission by not hiring one but you may very well have left more money on the table by not having an agent represent you and by not reaching qualified buyers

12. Shall I Buy First or Sell First?

That depends on your individual situation and Market Conditions at the time and whether you are relying on funds from the sale of your home to purchase your next home. There are many variables to look at before deciding. such as how much money are you going to net at the end of the sale, will the closing dates coincide, could I be stuck with two homes? 

13. What is a Seller's Market?

When demand for homes outpaces supply and homes sell much faster. When demand for homes exceeds supply, it means there are more buyers looking for homes than there are homes available for sale. This creates a seller's market, where homes tend to sell quickly and often at higher prices. Buyers in this situation may face increased competition, bidding wars, and may have to act faster or offer more favorable terms to secure a property. As a result, homes can sell much faster than usual, sometimes within days or even hours of being listed.

14. Is staging necessary?

No, staging is not necessary but it will make your property look more functional and inviting. It helps buyer's envision themselves living here. Staging helps maximize a property's strength and minimize its weakness