Buyer’s guide

What to do before the procedure: a mortgage pre-approval

  • I can suggest mortgage consultants for you…
  • You can take advantage of a fixed interest rate for a specific period of time…
  • It shows you the exact amount that you can invest…
  • It gives you more power to negotiate…
  • It provides you with proof of credibility of action as a buyer…
  • The seller will favor the buyer with a pre-authorization…

Define and choose what you want for your property

Your needs: your tastes:

  • Which style I prefer…
  • The number of bedrooms …
  • The number of bathrooms…
  • How many floors…
  • Basement inhabited or not…
  • Small or large yard…
  • Garage or not…
  • Whether there is renovation…
  • The kitchen according to its priorities…
  • The size…
  • The floors…
  • Fireplaces…
  • Swimming pool…
  • Air conditioning…
  • Size of the entrance…
  • Studio/workshop…
  • Office…
  • • Living room, family room…

Environment :

  • Urban or suburban…
  • Schools…
  • Parks…
  • Distance from work…
  • Which area…
  • Child-care facilities…
  • Theatres…
  • Public transport…

The costs incurred after purchasing a property:

  • Inspection by a building professional…
  • Evaluation fees…
  • Survey of the property…
  • Downpayment…
  • Notary fees…
  • Welcome tax…
  • Municipal taxes…
  • School taxes…
  • Property insurance…
  • If condo: condo fees and special premiums…
  • Connection charges for services, water, telephone, cable, internet…
  • Provision of funds: decoration, adjustments, etc., …

Promise to purchase

  • This is a contract in which one person agrees to buy a property…
  • And also the seller agrees to sell, once the promise to purchase has been accepted…
  • It is a standard OACIQ form of promise to purchase…
  • The information must be consistent with those of the brokerage contract…
  • Then, the two names and addresses of the two parties…
  • A complete description of the property…
  • The exact price and method of payment…
  • It may add conditions – inclusions – exclusions…

Why a notary:

  • To review the contract of sale and purchase…
  • To revise the title deeds…
  • To check building and zoning compliance…
  • Whether the utility, public service bills and property tax are up to date…