Townhomes in Pringle Creek Whitby for sale
Agnes Buss Real Estate Sales Representative and Realtor serving you since 1999!
Whitby Heritage House - Centennial Building
Heritage houses, grand homes near Award Winning Whitby Public Library
Whitby's historic Anglican Church of saints in Historic part of Whitby
Victorian homes and boutique shops in downtown Whitby home neighbourhood
Brand new construction custom bungalow and 2 storey executive homes in Whitby, Durham, Oshawa, Pickering
This is the site to find free info on Durham region brand new homes, resale homes and properties, towns, bungalows, detached and semi homes and condos in Whitby, Pickering, Ajax, Oshawa, Coutrice and Bowmanville!
Agnes Buss real estate agent in Whitby specializing in new homes projects, Monarc, tribute, GreenPark and Homes in communities of Pickering, Ajax, Bowmanville, Historic homes and heritage properties. Staged homes in Durham region. Power of Sale Homes in Durham. House hunting free buyer incentives too.
Right at Home Realty Inc. REALTOR
895 Don Mills Rd., Suite 202 Toronto, Ontario M3C 1W3
895 Don Mills Rd., Suite 202 Toronto, Ontario M3C 1W3
Agnes Buss Real estate agent sales representative
free first time home buyers information about buying in the Greater Toronto Area, Toronto real estate resale homes purchase, listing agents, toronto buyer agents, estate homes and sales, toronto new houses, condo, condominiums, commerical properties, investment properties in the GTA.
Agnes Buss, B.Com
Sales Representative
free first time home buyers information, friendly agent
Feature Homes
Agnes Buss,
B.Com.
Sales Representative
Right at Home Realty Inc., Brokerage
Dream Home
Copyright © 2009/2010 Agnes Buss. All Rights Reserved.
First Time & Experienced Real Estate Purchasers
Making the right choice when it comes to purchasing a home is simply a matter of good planning, not good luck. No one person can be expected to know everything, that is why it is important to surround yourself with qualified professional assistance throughout the process and ask as many questions as you feel necessary.
Below you will find information on the following frequently asked buyer questions and topics, if at any time you have a specific question in regards to your situation, write it down and be sure to ask Agnes.
Below you will find information on the following frequently asked buyer questions and topics, if at any time you have a specific question in regards to your situation, write it down and be sure to ask Agnes.
On closing day, your lawyer or his/her legal staff member will meet a representative from the vendor`s law firm at the land registry office. There, your cheque will be exchanged for the keys to your home and the two sides trade closing documents. The purchaser`s legal representative will then register the new deed and mortgage, so that anyone doing a search will learn that you are the new owner. Finally, you pick up the keys and YOU`RE IN!
Its highly recommended that on the day of closing you visit your new home and do a visual check to make sure that everything is intact. Run the water starting on the 2nd floor for 5 minutes, then shut it off and do the same on the main floor, following into the basement. Then look around the walls and ceilings to make sure there are no water stains/leaks. Over all check to make sure everything from the Chattles to Appliances has remained on the property as was agreed in your Agreement of Purchase and Sale. Should anything be missing or damaged contact your lawyer and Real Estate Agent immediately!
It is also recommended that you change the locks to all entry doors of your home / condo.
Its highly recommended that on the day of closing you visit your new home and do a visual check to make sure that everything is intact. Run the water starting on the 2nd floor for 5 minutes, then shut it off and do the same on the main floor, following into the basement. Then look around the walls and ceilings to make sure there are no water stains/leaks. Over all check to make sure everything from the Chattles to Appliances has remained on the property as was agreed in your Agreement of Purchase and Sale. Should anything be missing or damaged contact your lawyer and Real Estate Agent immediately!
It is also recommended that you change the locks to all entry doors of your home / condo.
On Closing Day
Mortgage Life Insurance
You should look at mortgage life insurance, especially where two incomes are involved. The cost is low and can be incorporated with your mortgage payments. Your balance will be paid in full (the maximum varies with different financial institutions) in the event of death, terminal illness, or permanent disability. These quotes are available with each mortgage approved on the system.
Making House Hunting Fun
There`s no shortage of information available to help you make an informed purchase decision. Banks, as well as CMHC, the Canadian Bankers` Association, the Ontario Real Estate Association and the Home Builders` Association all have brochures (even videos) to make house-hunting stress free and fun. Take the guesswork out of shopping for a home by taking advantage of all the professional resources available to guide you through the many choices available when purchasing your first home.
When it comes to the largest purchase in one`s life, the key phrase is ``you`d better shop around``. Don`t settle on the first home you see unless it happens that it is "the one". On average people view 10-20 homes before they find the one they love.
Decide where you want to live based on transportation, distance to work, proximity to schools, day-care, recreation facilities, shopping, health care etc. When you hear ``10 minutes to downtown``, find out if that was determined at 2 a.m. in a race car!
Decide where you want to live based on transportation, distance to work, proximity to schools, day-care, recreation facilities, shopping, health care etc. When you hear ``10 minutes to downtown``, find out if that was determined at 2 a.m. in a race car!
Finding and Purchasing the Right Home
The same advice applies to selecting your lawyer as to your real estate agent. Competitive fees, excellent service, knowledgeable, approachable and, in a word, VALUE...make sure that you get the right combination of price and service.
It`s not a bad idea to involve your lawyer before you sign the Offer, which becomes the legal Agreement of Purchase and Sale once signed by both the buyer and seller. If you wish, have your lawyer read the document carefully and review it with you. Once signed and accepted, your lawyer will order a series of searches from various municipal offices. This is to ensure that the vendors have not been sued and that they have paid all of their realty taxes, hydro, water and gas bills; and that there will be no old mortgages or liens on the property once you become the owner.
Your lawyer will also draft a series of closing documents, and will review the closing documents drafted by the lawyer for the vendor, since both lawyers participate in this process.
Your bank and lawyer will co-ordinate and draft the appropriate documents. Your lawyer will notify the property tax offices as well as the utility offices that you will be the new owner as of the closing day.
A few days before closing, you will visit your lawyer`s office to sign the closing documents. Then you bring a certified cheque for the balance of the closing funds, because the lawyer pays the relevant parties on your behalf (land transfer to the government, balance owing to the vendor etc.) Part of that amount covers the lawyer`s fee and the disbursements incurred. The lawyer obtains the mortgage funds directly from the lending institution.
It`s not a bad idea to involve your lawyer before you sign the Offer, which becomes the legal Agreement of Purchase and Sale once signed by both the buyer and seller. If you wish, have your lawyer read the document carefully and review it with you. Once signed and accepted, your lawyer will order a series of searches from various municipal offices. This is to ensure that the vendors have not been sued and that they have paid all of their realty taxes, hydro, water and gas bills; and that there will be no old mortgages or liens on the property once you become the owner.
Your lawyer will also draft a series of closing documents, and will review the closing documents drafted by the lawyer for the vendor, since both lawyers participate in this process.
Your bank and lawyer will co-ordinate and draft the appropriate documents. Your lawyer will notify the property tax offices as well as the utility offices that you will be the new owner as of the closing day.
A few days before closing, you will visit your lawyer`s office to sign the closing documents. Then you bring a certified cheque for the balance of the closing funds, because the lawyer pays the relevant parties on your behalf (land transfer to the government, balance owing to the vendor etc.) Part of that amount covers the lawyer`s fee and the disbursements incurred. The lawyer obtains the mortgage funds directly from the lending institution.
Before Signing the Offer
The first step is to review your current expenses thoroughly. Find out how much added expense will be incurred in taking on a mortgage. Before you embark on your housing search, it`s highly recommended to get a PRE-APPROVAL, especially if you`re a first time buyer. A pre-approved mortgage lets you know how much money you qualify for, so when you`re looking at houses, you will know what you can afford and can shop in comfort. When you sit down with your lender or his agent to pre-qualify, it`s a good idea to review all your questions at that time.
To determine affordability, your mortgage agent will look at your Gross Debt Service Ratio (GDS) and your Total Debt Service Ratio (TDS). The GDS ratio is based on what you can afford to pay each month and it includes mortgage payments, taxes and heating. Our maximum GDS ratio is 32%.
Agents also help you estimate the carrying cost with the Total Debt Service Ratio. The maximum TDS ratio is 37 per cent (40 per cent if it`s CMHC) and this includes items covered under GDS plus all other financing obligations.
If these are near the maximums, your mortgage agent will help you do a complete budget analysis based on net income looking at current and projected budgets to determine what you can actually afford and what size of mortgage payment is realistic.
This pre-qualifying stage is also the time to find out about the differences between conventional mortgages and high ratio insured mortgages. Ask about assistance for first time homebuyers such as the five per cent down payment allowed under the ``First Home Loan Insurance Program`` sponsored by the Canada Mortgage and Housing Corporation (CMHC) and the federal government`s ``RRSP Homebuyer`s Plan`` letting you use funds from your RRSP to purchase a home.
Treat your pre-qualification meeting with your mortgage agent as a fact-finding mission to go over closing costs, too, such as land transfer taxes, legal fees and other disbursements. And let`s not forget that if you buy a new home from a builder, you will pay the five percent (5%) GST on its purchase price or in 2010 13% HST. A good rule of thumb is to budget about three-five per cent of the purchase price for closing costs.
Before you`re automatically pre-qualified, your mortgage agent will need to run a credit bureau report and receive written confirmation of income and how much you plan to put down on your purchase.
Once you`re pre-qualified, the interest rate at which you pre-qualify is frozen for 60 to 90 days from the time of your application. If rates drop below what you pre-qualified for, you`ll get the lower rate and if they rise, you`re covered. Just because you pre-qualified for a mortgage at a certain financial institution, you`re by no means obligated to obtain your mortgage through that particular bank.
To determine affordability, your mortgage agent will look at your Gross Debt Service Ratio (GDS) and your Total Debt Service Ratio (TDS). The GDS ratio is based on what you can afford to pay each month and it includes mortgage payments, taxes and heating. Our maximum GDS ratio is 32%.
Agents also help you estimate the carrying cost with the Total Debt Service Ratio. The maximum TDS ratio is 37 per cent (40 per cent if it`s CMHC) and this includes items covered under GDS plus all other financing obligations.
If these are near the maximums, your mortgage agent will help you do a complete budget analysis based on net income looking at current and projected budgets to determine what you can actually afford and what size of mortgage payment is realistic.
This pre-qualifying stage is also the time to find out about the differences between conventional mortgages and high ratio insured mortgages. Ask about assistance for first time homebuyers such as the five per cent down payment allowed under the ``First Home Loan Insurance Program`` sponsored by the Canada Mortgage and Housing Corporation (CMHC) and the federal government`s ``RRSP Homebuyer`s Plan`` letting you use funds from your RRSP to purchase a home.
Treat your pre-qualification meeting with your mortgage agent as a fact-finding mission to go over closing costs, too, such as land transfer taxes, legal fees and other disbursements. And let`s not forget that if you buy a new home from a builder, you will pay the five percent (5%) GST on its purchase price or in 2010 13% HST. A good rule of thumb is to budget about three-five per cent of the purchase price for closing costs.
Before you`re automatically pre-qualified, your mortgage agent will need to run a credit bureau report and receive written confirmation of income and how much you plan to put down on your purchase.
Once you`re pre-qualified, the interest rate at which you pre-qualify is frozen for 60 to 90 days from the time of your application. If rates drop below what you pre-qualified for, you`ll get the lower rate and if they rise, you`re covered. Just because you pre-qualified for a mortgage at a certain financial institution, you`re by no means obligated to obtain your mortgage through that particular bank.
WHAT CAN I AFFORD & HOW DOES IT WORK?
* This is an ESTIMATE only & is based on an Interest Rate of 5.25%. INTEREST RATE IS SUBJECT TO CHANGE WITHOUT NOTICE. Annual taxes are ASSUMED to be 1.25% of purchase price. Includes Tax estimate. Does not include maintenance fees (if applicable).
What can i afford?
What you should know before signing the offer
Finding & Purchasing the right home
Making house hunting fun
Mortgage Life Insurance
What to expect on Closing Day
The Benefits of using a BUYER's AGENT
1) Seller Representation
2) Buyer Representation
3) Multiple Representation
Real Estate Sales Representatives have three primary client relationships:
1.) Under SELLER REPRESENTATION the real estate agent represents the Seller's best interests and owes fudiciary duties solely to that seller. In this case the real estate agent becomes the 'Listing Agent'.
Should an 'unsigned' buyer inquire about the property for sale directly from the Listing Agent, this buyer will not be represented as a client, nor will his/her best interests be represented. The Listing Agent will only provide a 'duty of care' to this buyer. Duty of Care being honesty, integrity, and respect. All information from this Buyer that would increase the bargaining power of the Seller would be disclosed to the Seller. Thus reducing the bargaining power of this 'unsighed buyer'. This is why it is in a Buyers best interest to have a Real Estate Agent working solely for them:
2.) This leads us to BUYER REPRESENTATION, where the Buyer's best interests are represented by the real estate professional and fudiciary duties are owed to the buyer instead of the seller. When a buyer is fully represented via a signed CONTRACT by a real estate agent, he/she is guaranteed full representation, full disclosure about property facts, council, advise, negotiation and after-sale service.
3) MULTIPLE REPRESENTATION occurs when a real estate agent represents both parties, the seller and the buyer during the same transaction. This is a complex situation and you must make sure that you fully trust your real estate representative and understand the consequences of Multiple Representation before entering into such relations. Agnes will brief you on the risks and details before such a situation occurs.
1.) Under SELLER REPRESENTATION the real estate agent represents the Seller's best interests and owes fudiciary duties solely to that seller. In this case the real estate agent becomes the 'Listing Agent'.
Should an 'unsigned' buyer inquire about the property for sale directly from the Listing Agent, this buyer will not be represented as a client, nor will his/her best interests be represented. The Listing Agent will only provide a 'duty of care' to this buyer. Duty of Care being honesty, integrity, and respect. All information from this Buyer that would increase the bargaining power of the Seller would be disclosed to the Seller. Thus reducing the bargaining power of this 'unsighed buyer'. This is why it is in a Buyers best interest to have a Real Estate Agent working solely for them:
2.) This leads us to BUYER REPRESENTATION, where the Buyer's best interests are represented by the real estate professional and fudiciary duties are owed to the buyer instead of the seller. When a buyer is fully represented via a signed CONTRACT by a real estate agent, he/she is guaranteed full representation, full disclosure about property facts, council, advise, negotiation and after-sale service.
3) MULTIPLE REPRESENTATION occurs when a real estate agent represents both parties, the seller and the buyer during the same transaction. This is a complex situation and you must make sure that you fully trust your real estate representative and understand the consequences of Multiple Representation before entering into such relations. Agnes will brief you on the risks and details before such a situation occurs.
TIP!