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DEADLY MISTAKES BUYERS MAKE
Christopher Audette
Team Lead
1. Shopping before getting pre-approved for a mortgage. Before you start seriously shopping the market, visit your bank, mortgage broker or lender, and get a mortgage pre-approval. You’ll know the exact amount you’ll qualify for, so when you’re ready to make an offer, you can do so with confidence and no “conditional of financing” clauses. 2. Skipping the mortgage pre-approval altogether. Getting pre-approved not only informs you of how much you can spend on a home, but it also guarantees the current interest rate for 90 days. 3. Making major life changes when applying for a mortgage. Once you’ve filed your application, avoid changing jobs, making big-ticket purchases on credit, or taking out new loans. 4. Not saving enough for a down payment. It’s true that the min. requirement in Canada is five per cent, but try to put down at least 20% of the purchase price. Having 20% or more means you won’t have to take out a high-ratio mortgage. This should allow you to avoid the mortgage default insurance premiums that go with it. 5. Not accounting for the “extra” costs. You can estimate to spend (approximately) between 1.5 to four per cent of the purchase price of the home. This includes costs such as the deposit, property insurance, title insurance, lawyer fees, home inspection fee, moving costs and more. Be sure to budget these into your purchasing plan. 6. Not seeing enough homes. When narrowing down your home’s location, weigh factors such as proximity to work, family and friends; public transit and access to major roads and highways; and things such as shopping, services, green space, and your lifestyle. 7. Seeing too many homes. Particularly in a hot market, sitting on the fence can mean losing the property. We can best advise you avoid this. 8. Not getting everything in writing. Any conditions of the purchase and sale must be on paper. If it’s not in the contract, it doesn’t count. 9. Biting off more than you can chew. You’ve likely heard the term “house poor.” Buying a home is a huge financial commitment, so ensure you can afford it. Consider your purchase from all angles. THE AVERAGE HOME BUYING DECISIONS THAT ARE MADE... ‘S ‘S in unnecessary COULD COST
homebuyers
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EXPERIENCE COUNTS Benefit from the experience of a *Top 3 team in Calgary *Top 3 team in Alberta *Top 10 team in Western Canada Successfully completing 250 plus real estate transactions per year. This only comes from the experience needed to professionally guide buyers and sellers. Check out our 5 Star reviews on Google by searching “The Agency Group Calgary” (our old team name). to see what others thought of their experience with us. *2018 within RE/MAX brokerages based on transactions and total dollars.
buyers info guide
the essential details
People come to us needing help to find the right home. working with thousands of clients, we’ve learned that buyers have 3 COMMON QUESTIONS:
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A GOOD REALTOR WILL: 1. Convince you to walk away from a bad deal 2. Uncover he negatives of any property your interested in 3. Work with the realities of those negatives as no property is perfect 4. Counterbalance your emotion with logic & your logic with emotion 5. Help you past costly fear and procrastination 6. Be honest risking your disapproval 7. Take control of the process, but not try to your control your decision 8. Help you find the “Right Spot”
Christopher Audette
Team Lead
403.255.9555
www.calgary-real-estate.com Each office independently owned and operated.
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How will I know that I’ve seen all of the properties matching my criteria?
What can I do to be sure I don’t overpay?
How can I ensure that I don’t buy a property in poor condition?