BUYING A HOME
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Buying a home can be a very exciting and memorable experience. In addition, buying a home is likely the largest transaction you will ever make. It’s a long-term financial commitment for you and your family. As a home buyer, you need an agent in your corner, fighting to make sure you get the home of your dreams and for the best price.
A Buyer’s Agent
A buyer’s agent represents you exclusively in a real estate transaction. However, using a real estate agent does not increase the cost of the transaction. The buyers and the sellers agents split the commission equally, which means you get some personal value from the commission dollars you pay.
A buyer’s agent is an expert in their field; they know the area, the neighbourhoods, the builders, and the available homes for sale.
With this knowledge, they help buyers sift through the inventory of real estate for sale to find those homes that best meet their needs, saving considerable time and effort. Your agent will also navigate the precarious nature of appraisals, inspections and negotiations, and help you find the home of your dreams at the right price.
If you’re planning on buying a fixer-upper, having an agent on your side can help you avoid the many pitfalls involved with these types of transactions.
Merenda Real Estate is the perfect buyer’s agent to help you purchase a new home. Our agents serve as your personal and trustworthy guides to finding property in Toronto, Ontario and the GTA.
Founders David and Darren Merenda have a well-earned reputation for outstanding customer satisfaction. Their extensive knowledge of the GTA is invaluable to buyers who are searching for a home. They are skilled at negotiating and networking, and are well-versed in market shifts, cutting-edge architectural designs, property development, as well as building styles and trends.
To learn more about what we can do for you, contact us today at 416-240-SOLD (7653).
As your personal guides and trustworthy agents in Toronto, Ontario, and nearby areas, we strive to give you the best of the best when you want to buy a home in Toronto or elsewhere. In the years that we have spent in the industry, homebuyers have always asked us, What do we need to do when we buy a house? Our dedication to helping buyers find a home led us to develop the following step-by-step guide that organizes and simplifies the process of buying a home.
Step 1 : Decide What to Buy
Before you even go looking for a home, you have to understand your needs. Think about the type of place you’re looking for. Are you looking for a lot of bedrooms and washrooms for your family? Do you want a pool in the backyard? Do you want to live close to a school or a mall? These are just some of the things you have to consider before YOU start looking for a new home.
Step 2 : Hire an Agent
There are thousands of real estate agents. How do you choose one that’s right for you?
You need to choose carefully since the agent will be acting as your representative, and you will want someone who is looking out for your best interests. You will need someone you can trust and someone who understands what you want.
There are a few ways to look for your perfect Realtor, such as:
- Jot down some names and numbers that you find on “For Sale”
- Ask friends and family for a recommendation
- Visit one of the local offices in your area
Whoever you choose should be a trained professional who knows your area inside AND out. A great agent is someone who offers you quality service to help you accomplish your goals.
Step 3 : Find your Home
There are many ways of finding that dream home! First, Before you go shopping, make sure you are financially ready with a budget. You can use our very handy affordability calculator by clicking here.
One thing to keep in mind is your down payments. This is a percentage of the total cost of a home that you’ll need to pay. The more money you put down, the more you’ll save on monthly payments and cost of borrowing. Another important aspect is getting pre-approved for a mortgage. When the lender approves you for a mortgage, it gives you an idea of how much you can afford when buying your new house.
Keeping these things in mind, you are free to go window shopping!
Step 5: Close the Sale
There will be closing costs associated with the sale that need to be paid either BEFORE or on the closing date. It can include mortgage application fees, inspections, and legal fees. But once that’s taken care of, you get your new house.
Congrats, welcome to your new home! You’re all ready to move in!
Step 4 : Make an Offer Now
Now that you’ve found the house that you are set on, it’s time to make an offer. Not all offers are the same and here’s where your real estate agent comes in. They will help you with specific terms and conditions that will be specified in the offer, like the price you want to pay, financing conditions, or other things like inclusions and exclusions.
Not only is it about the price of the house but you have to carefully look at the other details included in this sale. Appliances, chandeliers, or even minor renovations can also be part of the deal. Shorter or longer closing dates can also be specified in the offer.
If there is something in the offer that doesn’t satisfy the seller, counter offers or negotiations can also be presented to help get a price that you think is fair.
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