Buyers information package

You’ve made the decision to buy a home, congratulations! It’s an exciting time for you, and I look forward to guiding you smoothly through the process, helping you find and negotiate the home of your dreams. While buying a home can be quite emotionally and financially rewarding it can also be very stressful, especially for first time buyers. Buying a home is the largest investment most people will ever make, which is why it’s so important to get great information and advice. I will help you become more educated in the process, if you have a question please ask. Thank you for trusting your TFG sales representative Jimmy Rochford. I have been through the process many times and have the knowledge and experience to ensure your buying process runs smoothly. Now let’s get started.

The key players:

The realtor:

  • Is a certified real estate agent who keeps tabs on the latest properties by tracking the Multiple Listing Service (MLS) and other sources.
  • May also be acting as agent for the seller when the property is an MLS listing. However, if you already engaged the realtor as your agent, then he or she will act specifically and contractually in your best interest. This is known as a buyers agency.
  • Negotiate terms and conditions of your purchase with the seller’s agent or with the seller directly (of a private seller or their own listing).
  • Commission is paid by the seller out of proceeds of the sale. Usually it is split between the buyer’s agent and seller’s agent, if both agents are involved.
  • Arrange to get information for you, or for certain conditions to be fulfilled, as agreed with you- i.e. survey, appraisal (for mortgage purposes), and a home inspection report.

The Lawyer:

Your lawyer makes sure that the property you purchase is legally yours and comes with no strings attached. When you buy property you are not just buying the land and building, you are also buying the legal rights of ownership so you need to be certain that no other party has a claim to them.  your lawyer will confirm that there are no legal obstacles to your purchase and help it proceed smoothly.

The Mortgage Lender:

The mortgage lender os the financial backer i your real estate venture. In today’s mortgage market it pays to shop around because there are many lenders and different financing options available. Save yourself the time and trouble. Sit back and let a mortgage broker find a lender who will give you the best rate for the best product to suit your needs. As the property providing the funding, the lender will want to ensure that you are a worthy credit risk and that the mortgage(s) you are requesting corresponds to the value of the property you intend to purchase.

The Appraiser:

Appraisers assess property value for the lender. When you purchase a property it’s important for the lender to be satisfied that the price reflects the property’s true market value. Am appraiser is an officially accredited valuator who is hired to conduct an inspection of the property for the lender to assess and certify its value.

The Home Inspector:

The home inspector acts as your extra pair of eyes, able to see things about a property that may not be visible to you. If you are buying a resale home, it’s always advisable to have it checked by a home inspector as a condition of purchase. This individual will inspect the property for major deficiencies, which may not always be apparent. The results are presented in a written home inspection report.