Discover the signature "Unlocking Possibilities" buying process with Condo Chicks
We will have a one on one meeting
We will have a one on one meeting where I will learn which neighborhoods you are interested in and what features and amenities you desire. Our initial meeting will allow us to establish a healthy working relationship.
During our initial interview
During our initial interview, I will conduct an in-depth analysis to help you in determining how much you can afford to spend on your new Toronto home. The price range will guide us in narrowing down selections. I recommend you be pre-qualified for a home or condo mortgage. If you’re not already pre-qualified I can refer you to a number of mortgage brokers that can help.
Together we will then begin
Together we will then begin discussing and selecting Toronto downtown condos or West-end neighborhoods where great Toronto homes for sale are located. Using our extensive inventory of available properties we’ll be able to narrow down your search.
a. MLS Sort and Select process.
b. Estimated closing costs.
c. Familiarization with the Agreement of Purchase and Sale.
d. Process of negotiating an offer.
Pre-selection process for desired homes and arrange for showings
Pre-selection process for desired homes and arrange for showings:
a. Show properties and obtain feedback from buyer.
b. I will help you find the perfect home and community according to your needs and wants.
c. When you have selected the home you want to own, we prepare an Agreement of Purchase and Sale.
When we have found your new condo or home
When we have found your new condo or home I enter into negotiations to make a purchase. As a Toronto realtor I ensure your interests are protected. As the buyer you can choose to have an offer conditional on approval of financing, approval of a home inspection, or approval on status certificate for a condominium. If the conditions do not meet your satisfaction, you are free to withdraw from the deal. If the conditions are met then you are the proud owner of a new Toronto home or condo.
When the property is sold
When the property is sold all copies of the Agreement of Purchase and Sale go to the buyer’s and seller’s solicitors. Your lawyer will do a title search to determine:
a. The property can either be sold firm, which means there are no conditions to the offer, and both the buyer and seller are content with all the terms, and the negotiation part is complete. OR
b. The property is sold conditionally. This means that the offer has a condition that allows the buyer to review a few things before the house is sold firm. The buyer can choose to have an offer conditional on approval of financing, approval of a home inspection, or approval on status certificate for a condominium. If either of these conditions do not meet the satisfaction of the buyer, the buyer is free to withdraw from the deal. However, if the buyer is content with everything and the conditions are waived, the buyer is then the proud owner of a new home!
c. When the property is sold all copies of the Agreement of Purchase and Sale go to the buyer’s and seller’s solicitors.
If a mortgage is required
If a mortgage is required, I can assist in the mortgage application and approval process up to obtaining a mortgage commitment from the lending institution. There are times when an appraisal may be conducted by an appraiser sent by the lending institution. This is typically done by the lending institution to ensure that the buyer is purchasing the home for fair market value, and is not over paying for the home. If the property is appraised for the amount that the buyer has bought it for than the lending institution will agree to lending the money needed to mortgage the home.
When the transaction becomes a binding agreement
When the transaction becomes a binding agreement, the buyer’s solicitor searches title to determine:
a. Outstanding work orders issued by the municipality.
b. An accurate description of the lawful use of the property.
c. Restrictions as to the insurability of the property.
d. Encumbrances, liens, easements, restrictions, encroachments or other claims registered on title (e.g. undisclosed mortgages, right-of-ways. etc.)
Buyer's solicitor makes requisitions to the seller's
Buyer’s solicitor makes requisitions to the seller’s solicitor within the pre-determined date set out in the Agreement of Purchase and Sale.
Buyer's solicitor verifies financing
Buyer’s solicitor verifies financing commitment with the lending institution.
When all searches are satisfied
When all searches are satisfied, the solicitors arrange with lenders for the transfer of funds.
Buyer arranges insurance coverage
Buyer arranges insurance coverage from the date of closing.
Buyer's solicitor contacts the utility companies
Buyer’s solicitor contacts the utility companies and the tax department to determine amounts, if any, in arrears for closing adjustments.
Buyer and seller meet with their respective
Buyer and seller meet with their respective lawyers to review and sign closing documents (mortgage, deeds, declarations, undertakings, etc.). The lawyer will contact the buyer prior to the closing date to let him know how much to expect for closing costs.
Lawyers for both parties meet
Lawyers for both parties meet or arrange on the date of closing to exchange documents, funds, keys, and register all documents on title.
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