Home By Master

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HomeByMaster is committed to respecting your privacy through the protection of personal information you submit.
The following statements outline our promise to you:

Purpose and Consent
We explain to you the purpose of collecting it and obtain your consent before collecting your personal information .

Limiting Collection
Collection of personal information is limited to what is reasonable under the circumstances and your information will be used only for the purpose for which it is collected.

Security
Personal information is kept confidential and secure and is not disclosed to anyone outside of HomeByMaster without your consent, unless required by law.

Access
You have the right to access your own personal information, and to correct any inaccuracies.

10 Principles of Privacy

•  
  • HomeByMaster is committed to maintaining the accuracy, confidentiality, and security of personal information.
  • We have accepted 10 Principles established by the Canadian Standards Association’s Model Code.
  • They are as follows:

1. Accountability
   HomeByMaster employees are responsible for maintaining and protecting personal information under their control.
2. Identifying Purposes
   We identify the purposes for which personal information is collected.
3. Consent
   We only collect, use and disclose your personal information with your knowledge and consent, except where otherwise required or permitted by law.
4. Limiting Collection
   We limit collection of your personal information to only those details that are necessary for the purposes identified.
5. Limiting Use, Disclosure and Retention
   Personal information is only used or disclosed for the purpose that it was collected, unless otherwise consented, or when required or permitted by law. We only retain your personal information for the period of time required to fulfill the purposes for which it was collected.
6. Accuracy
   We keep personal information being collected as accurate, complete and up-to-date as necessary to fulfill the purposes for which it was collected.
7. Safeguards
   We protect personal information being collecedt with security safeguards appropriate to the sensitivity of the information.
8. Openness
   Information about our policies and practices relating to the management of personal information is made readily available to you.
9. Access
   At your request, we inform you of the existence, use, and disclosure of your personal information. We also provide access to the information. You can challenge the accuracy and completeness of your information, and amend it as necessary.
10. Challenging Compliance
    You can contact us with any questions, complaints, or suggestions with respect to the above principles.

Personal Information
What is Personal Information?

• Personal information is broadly defined as information about an identifiable individual, but does not include the name, title, business address, or telephone number of an employee of an organization.
• Data collected with personal identifiers removed, so that it is impossible to determine the identity of the person to whom the information relates, is not considered personal information.

Our Relationship With You

• We want to provide you with service on an ongoing basis and to establish a long-lasting relationship with you that will grow and change to meet your needs.With your permission, we collect personal information about you to: 
  • identify you
    establish and maintain a relationship with you, and to provide you with better service
  • protect you, and us, against error and fraud
  • omply with legal requirements
• Your personal information may also be used to create statistics about HomeByMaster’s business. We will not sell your personal information to any organization, for any purpose.

Consent

• The cornerstone to protecting your privacy is consent.
• We will only collect, use, and disclose your personal information with your consent, except where otherwise permitted by law.
• We do not, as a condition of the supply of a product or service to you, require you to consent to the collection, use, or disclosure of your personal information beyond that information which is required to provide our services to you.
• You may choose not to provide us with any of your personal information. However, if you make this choice we may not be able to provide you with the product, service or information that you requested or that could be offered to you. Types of Consent Consent can be express or it may be implied in appropriate circumstances.
• Express Consent can be given in writing, in person, electronically, by telephone, or by using a check-off box.
• Implied Consent occurs when surrounding circumstances exist that lead a reasonable person to believe that this consent had been given, although no direct, express or explicit words of agreement are transmitted.

Withdrawing Consent

• You may withdraw consent at any time, subject to legal or contractual restrictions and reasonable notice.
• If you withdraw consent, we will inform you of the implications of such withdrawal.
• To withdraw consent, simply contact us and advise us of what personal information you no longer wish us to use.

Security and Disclosure of Your Personal Information

• What Safeguards Do We Have in Place?
• HomeByMaster has developed processes and procedures to keep your Personal information safe and secure.
•  We have appropriate safeguards in place depending on the sensitivity of the information.

Disclosure of personal information:

• We will only use and disclose your personal information to fulfill the purposes for which it was collected.
• Any exception will be with prior consent, or as may be required by law.
• Also, we will keep information only for as long as it is needed to fulfill the purposes for which it was collected.

Customer support:
Any attempts to undermine, slander, threaten, swear at, or cause harm to a HomeByMaster support staff is strictly prohibited and is grounds for immediate termination of account and membership in HomeByMaster.

Accessing Information

• You may access and verify your personal information and find out to whom we have disclosed it.
• At the time of your request, we will need specific information from you to verify your identity, before we can provide you with the personal information we hold.
• If you identify any incorrect or outdated information requiring amendment, please contact us.
• We may ask you to put your request for a correction in writing.

Changing Personal Information

• We are committed to maintaining the accuracy of your personal information for as long as it is being used for the purposes we have identified. To help us keep your personal information up-to-date, we encourage you to notify us of inaccuracies or corrections as often as you wish.
• If you identify any incorrect or outdated information requiring amendment, please contact us. We may ask you to put your request for a correction in writing.

Contact Us

• Contact us with questions, concerns, or complaints about privacy or personal information.
• We will inform you of our complaint procedures and will assist you in resolving the situation.
• If a complaint is justified, appropriate measures will be taken.

Selling your House

• What is a listing agreement?
• What is the main idea about this agreement?
• Why should I list with a REALTOR®?
• How much should I ask for when selling a property?
• What different tools does a REALTOR® have to help me sell my home?”
• What is a public open house?
• What if my house isn’t selling?
• If I get an offer, should I accept it?
• What if I’m asked to give the buyer a current survey? Do I need to?
• Do I need a lawyer? If I do, what is their role?

What is a listing agreement?

• The process of selling a home with a REALTOR starts with the Listing Agreement.
• It’s a contract between you and the brokerage company that the agent represents.
• It is a framework for subsequent forms and negotiations.
• It’s important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties.
• Both you and the listing agent sign the listing agreement and each receive a copy.
• The agreement binds both parties to its terms and conditions.

What is the main idea about this agreement?

• Generally, in the agreement you appoint the brokerage company as your agent and give its representatives the authority to find a purchaser.
• The duration of the agreement is indicated, and the compensation is specified.
• The agreement also sets out the listing price, and accurately describes the property you are selling. That will include the lot size, building size,
• building style and materials, floor areas, heating/cooling systems, room sizes and descriptions.This is when you must also decide what you are taking with you and what you are leaving with the house.
• Generally, unless stated otherwise, fixtures remain with the property, while chattels — things which are movable — aren’t included in the sale. If necessary, what stays and what goes are listed under “inclusions” or “exclusions.”

Why should I list with a REALTOR®?

• One advantage of listing with a REALTOR is that only a REALTOR is able to place your listing on the MLS® or Multiple Listing Service ®, which is the co-operative listing system operated by local real estate boards.
• When your listing is placed on the Multiple Listing Service®, the information about your property is shared with all other REALTORS accessing MLS®, and all REALTORS have the opportunity to sell your property.
• This type of cooperative effort will result in the listing agent offering compensation to the selling agent.
• Your property gains more exposure, because it reaches the majority of the real estate professionals in your community.

How much should I ask for when selling a property?

• One major issue for anyone selling a property is how much to ask for.
• Although you may have an idea of how much your house is worth, it’s important to have your home valued by a professional on its own merits.
• Be careful not to price yourself too high or too low. If it’s too high, there’s no sale; too low and you lose on your investment.

what different tools does a realtor have to help me sell my home?

Your REALTOR may also recommend an Open House as a marketing strategy.

There are two types: first is an agent’s open house, where sales representatives from the listing company will be invited to view your house.

If you have signed an MLS® agreement, other REALTORS may also be invited.

Remember, each of these REALTORS may have a prospective buyer.

What is a public open house?

• You and your listing agent will pick the time and date for an open house. In order to give the agent access to your home, you may wish to keep a key at his or her office, or in a lockbox.
• The second type of open house is a public open house, where members of the public are invited to walk through your home and have a look. It’s an efficient way to show your home to many potential buyers at once.
• The listing agent will act as host, answering any questions.
• It’s also a good idea to ensure that any valuables are put away in a safe location, then leave while the open house is underway.
• If you do stay, be sure to keep out of the way, and turn off any TVs or radios to let the agent and the buyer talk in peace.

What do I need to do to prepare my house for an open house?

• Needless to say, clean counts with open houses.
• A general rule is that clean, uncluttered and well-lit spaces look larger and more attractive.
• People will naturally want to buy a house that is clean and well cared for.

What if my house isn’t selling?

Sometimes a home doesn’t sell right away. Avoid the urge to pull your home off the market… be persistent!

Generally, there are three reasons why a home may not sell as fast as others. First is location; second is condition; third is the asking price.

If I get an offer, should I accept it?

• Once a buyer is found, you’ll be receiving an offer that will detail how much, specify any conditions that may apply or be attached by the buyer, say when the buyer would like to take possession, and when the offer expires.
• As an act of good faith, the buyer will make a deposit with the offer.
• You don’t have to accept the offer as is. You may wish to make a counter offer that comes part-way to meeting the offer’s conditions.
• The counter offer is one more step along the way to negotiating the final terms and conditions of the sale
• The offer, once signed by everyone, is a binding contract.
• Make sure you understand and agree to all of the terms in the document. You may want to have it reviewed by your lawyer before signing.

What if I’m asked to give the buyer a current survey? Do I need to?

• Finally, the Listing Agreement also details the financial conditions of the property, including the mortgage balance, mortgage monthly payments and the mortgage due date.
• It should also provide information about annual property taxes; and references for any easements, rights of way, liens or charges against the property.
• A REALTOR has the research and expertise to provide a market assessment of what similar properties in your area have sold for.
• They can also provide information on market history, such as the number of properties sold in your community the previous month or year.
• Before closing, especially if the buyer makes it a condition of sale, you may be asked to provide a current survey, or a “real property report,” showing the location of the house is on the property owned by you and that there are no encroachments.
• You may also have to prove that you have title to the property (the buyer’s lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions).
• Especially in rural areas, you may also be asked to provide a certificate for a well or septic system, stating the system meets local standards

Do I need a lawyer? If I do, what is their role?

• Then on or before closing day, lawyers representing you and the buyer will set up a trust account for the money coming from the sale and will pay off any mortgages you owe on the property.
• After these are paid, you will receive any money you have coming from the sale.
• You must deliver the property deed or transfer documents, mortgage details and keys to your lawyer.
• Your lawyer will register the mortgage discharge and transfer the deed at closing
• Your lawyer should also ensure that you receive compensation for prepaid expenses such as, property taxes, electrical or gas bills, or if applicable, any heating oil left in your tank.
• Some lenders will make it possible for your mortgage to be portable, so you can take your mortgage with you when you move to your new home.
• The buyer may also make the purchase conditional on an inspection by a qualified engineer or inspector.

These are some of the frequently asked questions asked by buyers. Please look through some of these Q & A’s to answer some of your questions:

• What is the difference between a real estate agent and a real estate broker?
• Why should I use a real estate salesperson?
• What is the responsibility of the real estate broker to me?
• What do I need to decide when I’ve decided to buy a home?
• How will a real estate broker help me find my dream home?
• How do I decide my price range when buying a home?
• Once I find a house I like, what would be the next step?
• What will I need to bring with my offer? 

Buying your House

Once I find a house I like, what would be the next step?

Once you find the house you want to make your home, you can work with a REALTOR to develop an offer. In the offer, you should specify how much you’re willing to pay. State when the offer expires, and suggest a closing date for the transaction. You can also propose some conditions on the offer. Some common types of conditions are:

• getting a suitable mortgage (include the amount, interest rates and any other figures you feel important);
• selling your current home (the seller may continue to look for a buyer, but will give you the right of first refusal);
• the seller providing a current survey, or a “real property report,” showing the location of the house on the property owned by the seller and that there are no encroachments
• the seller having title to the property (your lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions)
• if there is a septic system, the seller should have a health inspection certificate, stating the system meets local standards
• if you still have any doubts about the home’s safety and construction, you may wish to make the purchase conditional on an inspection by a qualified engineer
• if you still have any doubts about the home’s safety and construction, you may wish to make the purchase conditional on an inspection by a qualified engineer
• any inclusions – basically, what stays and what goes. 

 What will I need to bring with my offer? 

You will need to present a deposit along with your offer. An appropriate deposit will show your good faith to the seller. The seller’s agent is bound by law to bring all offers to the seller’s attention.

Benefits of Home Ownership

Homeownership has many advantages – both financial and personal. But buying a home is an important decision. Look at the benefits and the differences between homeownership and renting to better understand if owning a home is right for you.

What are the benefits of homeownership?

• Tax savings.
  You may earn significant tax savings because you can deduct mortgage interest and property taxes from your federal income tax and many states’ income tax if you itemize your deductions.
• A more stable monthly housing expense.
  Your monthly housing loan or mortgage expense can remain the same for the life of your mortgage, depending on the type of loan you choose.
• Equity.
  You may build equity in your home over the life of your loan, which allows you to plan for future goals like your child’s education or your retirement.

Homeownership is not right for everyone. It may not be the right time in your life or you may not like the commitment associated with owning a home. Here are some differences between renting and homeownership:

• Renters are typically free from maintenance obligations such as repairs or lawn care.
• Homeowners often have more freedom in decorating, landscaping, etc.
• Renters can move more easily and more quickly than homeowners and there are higher costs associated with buying and selling a home.
• Homeowners have a financial investment and may build equity in their home.

A beautiful young mortgage bankers give 9 tips on buying a home:

Buyer’s Resources
Buying a home is the largest purchase most people will ever make. Homeownership has great benefits. Homeownership also comes with certain responsibilities. Are you ready for homeownership? Look at your current situation and determine if:

• You have a continuing and reliable source of income prior to applying for the loan.
• You have a credit history that shows you’re ready for homeownership.
• Your total debt is manageable and you can afford to take on the costs associated with homeownership.
• You have money saved for a down payment and closing costs.

Once you fully understand your current situation, it’s important to look at the pros and cons of homeownership to make the best decision for you and your family:

• Benefits of Home Ownership
• How Much Can You Afford?
• What Are the Risks?
• Myths About Homeownership

Canadian First Time Home Buyer Guide:

Working with your real estate agent

You help your sales associate by collecting or providing the following information:

• The legal description of the property
• The number of rooms and their sizes
• A list of things not attached to the house that you’re offering for sale, such as window treatments, carpet, fixtures, swing sets, etc.
• Past utility bills, property taxes and insurance
• Information about your mortgage, including the type, terms and assumptions
• Financing assistance, potentially through your own lender
• Any liens against the property
• If you live in a condominium or a townhouse, include a copy of the association’s declaration, bylaws, and financial statement, monthly fees and special assessments
• Special items or improvements about the house. (Point out things that may not be apparent on a walk-through.)
• The positive points about your neighborhood, such as demographic information and proximity to services, shopping, schools and other areas
• Any defects that aren’t apparent. (You should inform your sales associate about defects, so a buyer can be informed.)

Richard Van Dyke covers picking the right Real Estate Agent. Your home is not only the place you live and raise a family. Your home is one of the most important investments you will make:

What if I’m asked to give the buyer a current survey? Do I need to?

• Before closing, especially if the buyer makes it a condition of sale, you may be asked to provide a current survey, or a “real property report,” showing the location of the house is on the property owned by you and that there are no encroachments.
• You may also have to prove that you have title to the property (the buyer’s lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions).
• Especially in rural areas, you may also be asked to provide a certificate for a well or septic system, stating the system meets local standards.
• The buyer may also make the purchase conditional on an inspection by a qualified engineer or inspector.

Do I need a lawyer? If I do, what is their role?

• Then, on or before closing day, lawyers representing you and the buyer will set up a trust account for the money coming from the sale and will pay off any mortgages you owe on the property.
• After these are paid, you will receive any money you have coming from the sale.
• You must deliver the property deed or transfer documents, mortgage details and keys to your lawyer.
• Your lawyer will register the mortgage discharge and transfer the deed at closing,
• Your lawyer should also ensure that you receive compensation for prepaid expenses such as, property taxes, electrical or gas bills, or if applicable, any heating oil left in your tank.
• Some lenders will make it possible for your mortgage to be portable, so you can take your mortgage with you when you move to your new home. 

If I get an offer, should I accept it?

• Once a buyer is found, you’ll be receiving an offer that will detail how much, specify any conditions that may apply or be attached by the buyer, say when the buyer would like to take possession, and when the offer expires. As an act of good faith, the buyer will make a deposit with the offer.
• You don’t have to accept the offer as is.
• You may wish to make a counter offer that comes part-way to meeting the offer’s conditions.
• The counter offer is one more step along the way to negotiating the final terms and conditions of the sale.

Once the offer is signed, if I change my mind, can I get out of it?

• The offer, once signed by everyone, is a binding contract.
• Make sure you understand and agree to all of the terms in the document.
• You may want to have it reviewed by your lawyer before signing.       

What do I need to do to prepare my house for an open house?

• Needless to say, clean counts with open houses.
• A general rule is that clean, uncluttered and well-lit spaces look larger and more attractive.
• People will naturally want to buy a house that is clean and well cared for.

What if my house isn’t selling?

• Sometimes a home doesn’t sell right away.
• Avoid the urge to pull your home off the market… be persistent! Generally,
• there are three reasons why a home may not sell as fast as others.
• First is location; second is condition; third is the asking price.
• Naturally, you can’t change your home’s location, but you can fix the condition of your home and you can, of course, adjust your price.
• Throughout the listing process, you need to be constantly comparing your asking price against those of similar properties in your area. It may be time to adjust the price of your home.
• Review your selling strategy regularly with your listing agent: Is your house being shown regularly?
• Are you receiving the feedback from prospective buyers?
• Are you in touch with the marketplace? Is your property competing well? If not, what else can you do?                                                                 

What different tools does a realtor have to help me sell my home?

• Your REALTOR may also recommend an Open House as a marketing strategy.
• There are two types: first is an agent’s open house, where sales representatives from the listing company will be invited to view your house.
• If you have signed an MLS® agreement, other REALTORS may also be invited.
• Remember, each of these REALTORS may have a prospective buyer.

What is a public open house?

• The second type of open house is a public open house, where members of the public are invited to walk through your home and have a look.
• It’s an efficient way to show your home to many potential buyers at once.
• The listing agent will act as host, answering any questions.
• You and your listing agent will pick the time and date for an open house. In order to give the agent access to your home, you may wish to keep a key at his or her office, or in a lockbox.
• It’s also a good idea to ensure that any valuables are put away in a safe location, then leave while the open house is underway.
• If you do stay, be sure to keep out of the way, and turn off any TVs or radios to let the agent and the buyer talk in peace.                                                                                                           

Why should I list with a realtor?

• One advantage of listing with a REALTOR is that only a REALTOR is able to place your listing on the MLS® or Multiple Listing Service ®, which is the co-operative listing system operated by local real estate boards.
• When your listing is placed on the Multiple Listing Service®, the information about your property is shared with all other REALTORS accessing MLS®, and all REALTORS have the opportunity to sell your property.
• This type of cooperative effort will result in the listing agent offering compensation to the selling agent.
• Your property gains more exposure, because it reaches the majority of the real estate professionals in your community.

How much should I ask for when selling a property?

• One major issue for anyone selling a property is how much to ask for.
• Although you may have an idea of how much your house is worth, it’s important to have your home valued by a professional on its own merits.
• Be careful not to price yourself too high or too low.
• If it’s too high, there’s no sale; too low and you lose on your investment.
• A REALTOR has the research and expertise to provide a market assessment of what similar properties in your area have sold for.
• They can also provide information on market history, such as the number of properties sold in your community the previous month or year.      

 

Amortization: Paying off a debt, such as a mortgage, by installments. The conventional amortization period for a mortgage is anywhere between 15 and 25 years. The shorter the amortization period, the less interest you have to pay.
Appraisal: An estimate of a property’s value.
Asking (list) price: The price placed on the property for sale by the seller.
Blended payments: Payments consisting of principal and interest components, paid during the amortization period of a mortgage.
Broker: A person licensed by the provincial or territorial or state government to trade in real estate. Real estate brokers may form companies or offices, which appoint sales representatives to provide services to the seller or buyer, or they may provide the same services themselves. In some areas, brokers are referred to as agents.
Buyer’s Agent (also known as “Buyer’s Broker” or “Purchaser’s Agent”): A person or firm representing the buyer. A Buyer’s Agent’s primary allegiance is to the buyer. The buyer is the Buyer Agent’s client.
Buyer Brokerage Agreement: A written agreement between the buyer and the buyer’s agent, outlining the agency relationship between the two parties and the manner in which the buyer’s agent will be compensated. In some states or provinces, a buyer agency relationship arises automatically, without a written agreement establishing the relationship.
Client: The person being represented by an agent. The agent owes the client the duties of utmost care, integrity, confidentiality and loyalty.
Closing: The day the legal title to the property changes hands.                                                                    

Commission: An amount agreed to by the seller and the real estate broker/agent and stated in the listing agreement. It is payable to the broker/agent on closing and shared, if applicable, among those salespeople involved in the sale.
Customer: A person who receives valuable information and assistance from a real estate broker or salesperson, but is not represented by that individual.
Debt-Service Ratio: The measurement of debt payments to gross household income which may include, in addition to the main wage earner’s salary, salaries of other wage earners, commissions, bonuses, overtime, etc.
Dual Agent: A real estate broker or salesperson who acts as agent for both the seller and the buyer in the same transaction. Both buyer and seller are the agent’s clients.
Equity: The difference between the value of the property and the amount owing (if any) on the mortgage.
Financial Institutions: Banks, credit unions, insurance or trust companies.
Gross Debt Service: The amount of money needed to pay principal, interest, taxes and sometimes, energy costs. If the dwelling unit is a condominium, all or a portion of common fees are included, depending on what expenses are covered.
Gross Debt Service Ratio: Gross debt service divided by household income. A rule of thumb is that GDS should not exceed 30%. It is also referred to as PIT (Principal, Interest and Taxes) over income. Sometimes energy costs are added to the formula, producing PITE, which moves the rule of thumb GDS to 32%.                    

Listing Agreement: The legal agreement between the listing broker and the seller, setting out the services to be rendered, describing the property for sale and stating the terms of payment. A commission is generally payable to the broker upon closing.
Mortgage: A contract providing security for the repayment of a loan, registered against the property, with stated rights and remedies in the event of default. Lenders consider both the property (security) and the financial worth of the borrower (covenant) in deciding on a mortgage loan.
Mortgage Broker: A person or company having contacts with financial institutions or individuals wishing to invest in mortgages. The mortgagor pays the broker a fee for arranging the mortgage. Appraisal and legal services may or may not be included in the fee.
Mortgagee: The person or financial institution lending the money, secured by a mortgage.
Mortgagor: The property owner borrowing the money, secured by a mortgage.
Offer of Purchase and Sale: The document through which the prospective buyer sets out the price and conditions under which he or she will buy the property.
Real Estate Board: A non-profit organization representing local real estate brokers/agents, salespeople, which provides services to its members and maintains and operates a MLS® system in the community.
Term: The actual life of a mortgage contract– from six months to ten years — at the end of which the mortgage becomes due and payable unless the lender renews the mortgage for another term (See Amortization).
Seller’s Agent: The Seller’s Agent represents the seller — either as a Listing Agent under the listing agreement with the seller or by cooperating as a Sub-Agent, typically through the MLS® system. In dealing with prospective buyers — customers– the Seller’s Agent can provide a variety of information and services to assist the buyer in his/her decision-making. The Seller’s Agent does not represent the buyer.
Variable-rate Mortgage: A mortgage in which payments are fixed, but the interest rate moves in response to trends. If interest rates go up, a larger portion of your payment goes to the interest; if rates go down, more goes to cover the principal.

Real estate broker

What is the responsibility of the real estate broker to me?
A realtor must disclose to you in writing who exactly they represent in any real estate deal.

• A realtor may represent you as a buyer or a seller; he or she may also represent both buyer and seller in the same transaction.
• Because all realtors are guided by a stringent Code of Ethics and Standards of Business Practice, a realtor will always treat you fairly.
• As your agent, the realtor owes you the duties of utmost care, integrity, confidentiality and loyalty. Make sure you discuss agency with your realtor.
• If a realtor is showing you homes, they are automatically deemed to legally be your agent, and owe you all of the associated obligations.

What do I need to decide when I’ve decided to buy a home?
If you have decided to buy a home, start by determining what type of community, or specific neighbourhood, you are interested in. List your space needs, including:

• living space requirements (i.e. how many bedrooms);
• what you’re bringing with you from your old house;
• how close to schools, shopping and other services;
• the size of down payment you can afford; and,
• price range.                                                                                                           

How will a real estate broker help me find my dream home?
Once you’ve identified the features you want in a home, the search begins.

• A REALTOR will use various tools to try and find properties that meet your specifications.
• One of the important search tools will be the local MLS^® system.
• By sitting down at a computer the REALTOR can key in your needs, choice of neighbourhoods and price range and immediately come up with a list of suitable properties available through the MLS^® system.
• Also common are MLS^® catalogues, which provide additional information about each property, along with its photograph.
• Both computer systems and catalogues are updated regularly.

How do I decide my price range when buying a home?
It’s important to be realistic when you’re thinking about a down payment and setting a price range.

• You don’t want to be saddled with something you can’t afford.

• At this stage, it’s a good idea to talk things over with a real estate sales professional.                                                                                 

Once I find a house I like, what would be the next step?
Once you find the house you want to make your home, you can work with a REALTOR to develop an offer.

• In the offer, you should specify how much you’re willing to pay.
• State when the offer expires, and suggest a closing date for the transaction.

You can also propose some conditions on the offer. Some common types of conditions are:

• getting a suitable mortgage (include the amount, interest rates and any other figures you feel important);
• selling your current home (the seller may continue to look for a buyer, but will give you the right of first refusal);
• the seller providing a current survey, or a “real property report,” showing the location of the house on the property owned by the seller and that there are no encroachments;
• the seller having title to the property (your lawyer will check this out when he or she conducts a title search to see if there are any liens on the property, easements, rights of way or height restrictions);
• if there is a septic system, the seller should have a health inspection certificate, stating the system meets local standards;
• if you still have any doubts about the home’s safety and construction, you may wish to make the purchase conditional on an inspection by a qualified engineer;
• any inclusions – basically, what stays and what goes.                                              

What will I need to bring with my offer?

• You will need to present a deposit along with your offer.
• An appropriate deposit will show your good faith to the seller.
• The seller’s agent is bound by law to bring all offers to the seller’s attention.

After your offer is accepted and all the conditions are met, the offer becomes binding on both sides.

• If you walk away from the deal at that point, you may lose your deposit.
• You may also be sued for damages.
• Therefore make sure you understand and agree with all of the terms of the offer before signing.