As a buyer, there is no financial cost for you to have a Realtor work for you. The only cost is one of time and commitment.

WHAT I DO FOR YOU
WHAT YOU NEED TO DO
MY COMMITMENT TO YOU
PREPARING FOR CLOSING COSTS


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What I Do For You

· Fully explain agency relationships
· Educate you in the buying process and the market trends in the location you choose to live
· Arrange to financially pre-qualify you with a financial institution that will offer you the best mortgage rate with terms that fit your needs
· Arrange for and show you properties that meet your needs and finances
· Do a market analysis on the subject property and assist you in offer pricing strategy
· Explain the importance of home inspections and Status Certificates
· Prepare an written offer to purchase the property you choose with all the terms and conditions reviewed, approved and understood by you
· Provide a preliminary estimate of closing costs * See Closing Costs
· I always negotiate and protect your best interests
· I will accompany you during the home inspection and advise you on the home inspection report
· Prepare and deliver appropriate notices
· Deliver upon completion, all pertinent paperwork to the Vendor's agent, you and your lawyer

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What You Need to Do - Make a List of all your Needs and Wants

By prioritizing all your needs and wants will help you narrow down what is important to you and in what order. By communicating these criteria for choosing your home will save valuable time and help me find you a home.

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My Commitment To You

· You will never feel pressured. I want to find you a home that you will enjoy and pay a fair price for- I will search until we find that home.
· You will be educated and knowledgeable about the market place during the buying process through my buyer package
· I will provide excellent customer service using the most up to date technology
· I will provide full disclosure about the properties we see
· All our communications are confidential

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Preparing For Closing Costs

· Legal Fees and Disbursements ($1000-$1400)
· Land Transfer Tax-

A one time only tax payable to the Government. It is based on the cost of your home. First time buyers get a rebate if they buy a new property from a developer.

Formula For Land Transfer Tax
If your Purchase Price Is:

· Under $55,000 then multiply by .005
· $55,000-$250,000 then multiply by .01 and subtract $275
· Over $250,000 then multiply by .015 and subtract $1525
· Over $400,000 then multiply by .02 and subtract $3525

· Adjustments (Cost Varies)

This refers to the proportionate share of realty taxes, utility charges, condo maintenance fees, etc. If the original owner paid these in advance, the new buyer must rebate these on closing day.

· Status Certificate ($100- Condos only)

Provides a detailed outline of the finances of the condo corporation, all the rules and regulations of the condo and any pending work orders or liens.

· Home Inspector ($300- $450- Home Buyers Only)

A recommended procedure for any one buying a home. The home inspector should be insured and must give written guarantees for the service provided

· Moving Costs (Cost Varies)

Professional moving services can help minimize the trauma of your move, but is a costly service. If you have a choice on your moving day, choose one that is early in the month, and non-weekend when rates are cheaper.

If you are moving into a condo don't forget to book the elevator and you may be expected to pay a refundable deposit for any damage when moving in.

There are also cable and phone hook ups that cost money.

Don't forget to change the utilities into your name

· CMHC Fees (Applicable Only To Those With < 25 % Down)

The following charges can be paid upon closing, but most buyers add it to their mortgage (ie if you borrow $100,000 the CMHC cost is $3750 at 5% down or now your mortgage is $103,750)

5% Down - 3.75% of Mortgage

10% Down - 2.50% of Mortgage

15% Down - 2.00% of Mortgage

20% Down - 1.25% of Mortgage

For New Developments there are also other costs

· G.S.T. (7% of Purchase Price)

Only for new homes / condos bought from the developer. This tax is not for Resale Homes

· Special Levies On New Homes (Cost Varies)

Make sure you consult a lawyer to go over all the fine print in your Agreement to Purchase before buying. There are many developers levies included in the document such as educational and construction levies.

· Interim Occupancy Fees (Cost Varies- Condos Only)

Between the time you are able to move into your new condo and the time it is registered as a condominium corporation, all buyers must pay an interim occupancy fee. This fee varies and is stated in your agreement how much payment is due. You are paying interest on the builder's mortgage- almost like rent. None of this money paid will go toward the mortgage of your new condo. Your mortgage only starts when the condo gets registered which could take anywhere for 3 months to 2 years after your initial move in date.

· Contingency Costs (Cost Varies)

If your home is not built on time, then other arrangements must be made in the meantime. New homes and condos are rarely built on time, so be prepared!

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