Exciting, exciting time...
And so it should be! However, it's quite likely that you have a very large range of impressions and ideas about what the process of buying a property will be like and/or "should" be like, gained from a wide array of sources: the media, friends and peers who have bought, and so on. Now, it's time to build your own frame of reference. You likely have an idea of where you want to live, what general type of property you want, your range of affordability, and have decided to make this happen in the near future. The next steps should be confirming your range of affordability. Then, we suggest you get completely familiar with the actual purchasing process. Many stories abound -and you've likely heard a few yourself- about how buying a home can be complicated, lengthy, and risk-laden. If you are educated about the process and have a solid understanding of the major factors involved, it shouldn't be. A solid frame of reference BEFOREHAND will enable you to make the right decisions at the right time, and to do so comfortably.
The real results group takes your comfort level seriously. One of us will invest an hour and a half minimum up-front towards this end by sitting down with you to take you through our well-developed Buyer's Guide from start to finish, and to listen to your goals and expectations. This will enable you to get to know us before any commitments or actions are taken, and will serve as an invaluable mini-education on the process.
In addition to reviewing the guide, a 'buying timeline', a sample 'Contract of Purchase and Sale' and talking about what's going to happen, when, why, and for how much $$ (closing costs, etc.), we will go over different offer scenarios and discuss your expectations and wish list. If you're comfortable with what you've learned about the process and your potential realtor, and are ready to get started, we'll then plan the first steps; if not, we sincerely hope you consider the session to have been a thorough interview of us as your future Realtors!
If you would like to set up a Buyer Information Seminar with one of the real results group Buyer's Agents or attend one of our groups sessions, please click here. If you have any more questions, please call us at 604-218-1733 or email us. Here's the usual itinerary for a Buyer's Information Session:
BUYER'S INFORMATION SESSION: CHRONOLOGICAL OUTLINE
Benefits of Working with a Realtor
-Professional represention in your best interests, throughout the buying process
-Constant education and guidance
-Elimination of risks
-Market knowledge (e.g., avoiding inappropriate or 'risky' properties)
-Greatly increased chance of being successfull in the Vancouver market
Who We Are, Who Your Realtor Is
-Introduction, our service ethic, our goal with the client
Determine How Much You Can Afford/ Have a Lender Pre-Qualify You
-Why this is such an important first step, how easy it is
-Closing costs, what they are, Property Transfer Tax
Find a Real Estate Agent to Assist You/ What You Should Expect
-Merits upon which you should choose your realtor
-Agency Relationships: what they are, how they work
-How Realtors get paid for their services
Find a Home That Fits Your Needs
-The 'search process', how your realtor selects appropriate properties
-'Property Tours' and 'Open Houses': what to expect
-Open communication with your realtor, it's benefits
-Stratas: how they work, essential information
-Defining your wants vs needs vs budget
Make an Offer to Purchase a Home
-'Timeline' of an offer, from presentation to subject removal
-Components of an offer
-Subjects: to whose benefit, what they are, how they work, timeframe, removal
-Offer scenarios; competing offers, non-competing offers, overpriced, etc.
-Strategies: what it takes to be successful in this market
After Accepted Offer
-The subject removal period, 'homework' expectations, when deposit will be required, etc.
-Reviewing documents: what they are, how to interpret, what to expect
-Arranging inspections and other services if necessary
Completing the Purchase
-What to do/expect between subject removal and completion (insurances, lawyer, etc.), statement of adjustments, financing preparations
-What to expect upon completion: obtaining keys, condition of home
-What to expect from your realtor post-completion: solving outstanding issues, follow-up, ongoing services
Sample Contract of Purchase and Sale & Timeline
-Complete review of the Contract that will be used, referenced visually to a 'Timeline' graph
Discussion of Wants, Needs and Expectations, and Setting Goals
-The fun part begins: exploring the 'wish-list', reviewing conditions in your market 'niche', planning the next steps!