HOUSE FOR SALE, CONDO, NORTH YORK, NORTH TORONTO| DIANE PLANT |JEREMY PLANT|TEAM PLANT,CONDOMINIUMS, LOFTS, TOWNHOUSE, HOMES, HOUSES,

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What We Do For You

Fully explain agency relationships
Educate you in the buying process and the market trends in the location you choose to live
Arrange to financially pre-qualify you with a financial institution that will offer you the best mortgage rate with terms that fit your needs
Arrange for and show you properties that meet your needs and finances
Do a market analysis on the subject property and assist you in offer pricing strategy
Explain the importance of home inspections and Status Certificates
Prepare a written offer to purchase the property you choose with all the terms and conditions reviewed, approved and understood by you
Provide a preliminary estimate of closing costs (* See below)
We always negotiate and protect your best interests
We will accompany you during the home inspection and advise you on the home inspection report
Prepare and deliver appropriate notices
Deliver upon completion, all pertinent paperwork to the Vendor's agent, you and your lawyer

What You Need to Do - Make a List of all your Needs and Wants

By prioritising all your needs and wants will help you narrow down what is important to you and in what order. By communicating these criteria for choosing your home will save valuable time and help us find you a home.

Our Commitment To You

You will never feel pressured. We want to find you a home that you will enjoy and pay a fair price for - We will search until we find that home.
You will be educated and knowledgeable about the market place during the buying process through my buyer package
We will provide excellent customer service using the most up to date technology
We will provide full disclosure about the properties we see
All our communications are confidential

* Preparing For Closing Costs

Legal Fees and Disbursements ($1000-$1400)
Land Transfer Tax
A one time only tax payable to the Government. It is based on the cost of your home. First time buyers get a rebate if they buy a new property from a developer.
Adjustments (Cost Varies)
This refers to the proportionate share of realty taxes, utility charges, condo maintenance fees, etc. If the original owner paid these in advance, the new buyer must rebate these on closing day.
Home Inspector ($300- $450 - Home Buyers Only)
A recommended procedure for any one buying a home. The home inspector should be insured and must give written guarantees for the service provided
Moving Costs (Cost Varies)
Professional moving services can help minimize the trauma of your move, but is a costly service. If you have a choice on your moving day, choose one that is early in the month, and non-weekend when rates are cheaper. If you are moving into a condo don't forget to book the elevator and you may be expected to pay a refundable deposit for any damage when moving in. There are also cable and phone hook ups that cost money. Don't forget to change the utilities into your name
CMHC Fees (Applicable Only To Those With < 20 % Down)
The following charges can be paid upon closing, but most buyers add it to their mortgage. (ie if you borrow $100,000 the CMHC cost is $3750 at 5% down or now your mortgage is $103,750)
5% Down - 3.75% of Mortgage
10% Down - 2.50% of Mortgage
15% Down - 2.00% of Mortgage
20% Down - 1.25% of Mortgage

For New Developments there are also other costs
G.S.T. (5% of Purchase Price)
Only for new homes / condos bought from the developer. This tax is not for Resale Homes
Special Levies On New Homes (Cost Varies)
Make sure you consult a lawyer to go over all the fine print in your Agreement to Purchase before buying. There are many developers levies included in the document such as educational and construction levies.
Interim Occupancy Fees (Cost Varies- Condos Only)
Between the time you are able to move into your new condo and the time it is registered as a condominium corporation, all buyers must pay an interim occupancy fee. This fee varies and is stated in your agreement how much payment is due. You are paying interest on the builder's mortgage- almost like rent. None of this money paid will go toward the mortgage of your new condo. Your mortgage only starts when the condo gets registered which could take anywhere for 3 months to 2 years after your initial move in date.
Contingency Costs (Cost Varies)
If your home is not built on time, then other arrangements must be made in the meantime. New homes and condos are rarely built on time, so be prepared!

	Tips for Buyers

Bi-weekly and Weekly Payments

Most mortgages have the option to allow payments to be made on a weekly or bi-weekly basis. This option may be desirable for two reasons. The first is it can save you money as you can expect to pay off your mortgage about 4 years sooner. This can save you dramatically over the life of your mortgage. The other reason why these options are so popular is that if your employer pays you on a weekly or bi-weekly basis, you can simplify your budgeting by making the payment line up with the way you paid.

Making Extra Payments

Paying extra amounts on your mortgage can make a big interest saving over time. When we select a mortgage company, privilege payments options are something that we look for. A 20% privilege payment will allow you to pay off up to $20,000 per year on a $100 000 mortgage. It is important that the privilege payment also be flexible to allow you to pay smaller payments on the mortgage and as often as you wish. An extra $1000 periodically paid on a mortgage can help you become mortgage free faster.

Reducing the CMHC fees on your purchase

When you require a mortgage for more than 80% of the purchase price of a property, that mortgage must be insured by Canada Mortgage and Housing (CMHC) or GE Mortgage insurance. The premium charged by these company`s decreases as the down payment increases. When you finance your property at 95%, a premium of 3.75% is added to the mortgage. By increasing the down payment to 10% of the purchase price the premium can be reduced to 2.5%. If you can put down 25%, you can avoid any additional insurance fee. Depending on your situation there are ways that you can structure this financing to avoid the CMHC or GE insurance premium.

Advantages of Bigger Down Payments

As mentioned above, when you put a 20% down payment on your purchase you can avoid the CMHC premium. More importantly the larger the down payment, the lower the amount of interest you will pay over the life of your mortgage. It is important to note that it may not be wise to stretch yourself to increase your down payment and end up borrowing on credit cards or a line of credit at a higher rate.

Short Term Rates vs. Long Term Rates

The options for mortgages available can be very confusing for most mortgage shoppers. Terms for mortgages vary between variable and fixed rate, 6-month terms to 10 year terms. Taking a variable or floating rate mortgage can have savings. Typically the shorter the term or guarantee of the rate, the lower the rate will be. This does not always happen, depending on the market place and the economy, but history has shown that short-term rates tend to be lower than long-term rates. The up side of variable rate is the strong potential for interest rate savings. The down side is the fact that you are accepting the interest rate risk without a guarantee. If you are considering a variable rate mortgage you need to look at your own risk tolerance, and your cash flow available to deal with potential increased payment. Considering projections of rates and where we see interest rates heading can also be important in this decision. Make sure you talk to an expert when you are making this decision.

Searching for a home on MLS.ca is frustrating

What We Do For You

Our Commitment To You

* Preparing For Closing Costs

Tips for Buyers