buyers package

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Your Buyers Package

Commitment

I maintain a high level of personal service and am committed to excellence. My goal is to help you client make the best possible decisions about your real estate investments. Real Estate is the best long term investment, it always increases over time. This will be the best investment decision you will make.

As a member of the Calgary Real Estate Board, I can show you any property listed for sale through the MLS Multiple Listing Service. If you see an ad in the paper or a sign in the yard for a home that is for sale and if it is of interest to you, call me to find out the full information. If you want to see it, I can arrange a showing at a time convenient to you.

Usually the homeowner trying to sell his/her home by him/herself wants to avoid paying a Realtor, hoping to keep the full purchase price themselves. If the homeowner is serious about selling their home they will likely work with a Realtor who can introduce the buyer to the property. Most Buyers feel more comfortable viewing the property with their Realtor. They know that their Realtor will have their best interest in mind when they view a “For Sale by Owner”. If you see a home that is “For Sale by Owner” and want the advantage of my service, please let me know. I will contact the owner and arrange to show the property to you.

Most new home builders work co-operatively with Realtors and respect the relationship that Realtors have with their clients. The builder requests that we register you as our client on an initial visit to their show home. Normally, my commissions are paid from the builder’s marketing budget and do not affect the purchase price. By letting me help you with new home builders you get all of my services and unbiased advice. I want you to purchase the best possible property for you and I am not influenced by high pressure sales at a builder’s show home.

Should you decide to purchase a new home, you will get my service plus all the services offered by the builder as well. You get more service at no extra cost!

I am an MLS Member:

I can help you with “For Sale by Owner”:

I can help you with New Homes:



My Pledge to You

To provide unsurpassed service and to help you buy your home at a fair market price in the shortest time, with the least inconvenience to you, I will:

• Explain real estate agency relationships;

• Maintain communication during the term of the agreement;

• Analyze your property needs, wants and wishes;

• Orient you to current market conditions;

• Provide helpful community data;

• Explain local real estate practices and procedures;

• Search the local multiple listing service for suitable properties;

• Co-ordinate appointments and show all properties of interest; (whether or not the properties are Real Estate Professionals Inc. listings)

• Provide relevant market data as to fair market value of homes;

• Disclose all material defects of the property, if known;

• Discuss relevant information about the seller, if known;

• Explain the process of offer presentation;

• Carefully explain and prepare Offer to Purchase forms;

• Arrange to present all offers to seller in a timely manner;

• Strive to obtain the best possible price and terms for buyer;

• Explain post-purchase activities and responsibilities;

• Follow-up on all post-purchase activities;

• Keep your information confidential.


Buyer Action Plan

1) Interview with me to:

3) Preparing the Offer:

• Discuss financing options and affordability;• Discuss costs associated with purchasing a home;• Determine your needs and preferences in a home;• Review types and styles of houses;• Review areas and districts that fit your needs, wants and affordability;• Search the MLS system to locate homes within the parameters determined.

2) Obtain Mortgage Pre-approval:• Apply to lending institution, you require;• Letter of employment confirmation;• List of your assets;• List of your liability;• Social Insurance Number;• Chequing account number;• Lawyer contact information.• Lender will confirm maximum mortgage they will loan you; or determine the size of; mortgage based on

the payments you are comfortable with. These are generally determined using two lending principles:• Gross Debt Service (GDS): which means your housing cost should not exceed 32% of your gross family

income;• Total Debt Service (TDS): which means that your monthly debts should not exceed more than, 40% of your

gross family income.

• Together we write your “Offer to Purchase” with price, terms, conditions, possession date, and chattels(what’s included) that will be proposed to the seller;

• A deposit cheque must accompany the offer;• I will meet with the sellers and their Realtor to negotiate on your behalf the differences you and the seller

may have until an agreement is reached. I will be in constant contact with you through these negotiations and will follow your instructions;

• Sometimes the sellers can counter our offer, at this time flexibility goes a long way;• While working with you, I provide objective, experienced advice;• I provide you with a signed copy of the accepted offer.


4) Obtain Mortgage Approval

5) Make your offer a Firm Sale

6) Select a Lawyer specializing in Real Estate

7) Final Details

• Send a copy of the offer to the lender;• Appraisal report may be ordered;• Lender will approve and submit to CMHC (if applicable) for final approval.• CMHC is required with a down payment of 5-10%;• You will pay a premium which is a percentage of the loan either paid on possession or it can be worked

into you mortgage payments;

• Satisfy and remove by a notice any buyer’s conditions on the “Offer to Purchase”. These may be:• subject to financing approval;• subject to home inspection;• subject to any other condition in offer.• Upon removal of conditions, the house is considered “SOLD” to you pending the exchange of funds and

transfer of title on the agreed possession date.

• Notify me of your choice so I can provide documents or I can make a suggestion of competent real estate lawyers;

• Set up appointment with lawyer to sign papers;• Arrange for funds to be transferred to lawyer to close transaction;• Any outstanding money owed for down-payment is transferred to the lawyer for the seller to close

transaction.

• I am available to guide you through all the details;• Arrange for insurance coverage on home;• Arrange for gas, utilities, telephone, and cable;• Meet with me to inspect the property and take possession on closing date (12:00pm).


Summary of Closing Costs• Application Fee: It costs lenders money to process your application and some will pass these costs on to

you. Application or mortgage initiation fees vary and some will waive this fee entirely. Please check.

• Mortgage Appraisal Fee: Fee is approximately $175.00 plus GST.

• Mortgage Life Insurance: Many lenders offer you the option of buying this insurance and adding the cost to your monthly payments. You may want to talk to your life insurance agent and compare costs.

• Real Property Report (R.P.R.): If the seller should not provide you with a current Real Property Report in the offer to Purchase, a new Real Property Report will cost approximately $375.00 and up plus GST.

• Compliance: City of Calgary issues “Compliance” stamps on Real Property Reports at a cost of approximately $73.00 (including GST). The seller usually provides this with the R.P.R.

• Legal Fees & disbursements: Legal fees vary according to the lawyer; they usually include time & “disbursements” which are costs involved in title searches, drawing up the title deed and preparing your mortgage.

• Statement of Adjustments: Buyers and sellers are each responsible for their share of property taxes. City of Calgary taxes are due June 30, with 6 months paid in arrears and 6 months paid in advance. If you purchase your property before June 30, you will receive the balance owing from January 1 until the date of possession from the seller. If you purchase the property after June 30, you must reimburse the seller of the amount from the possession date to January 1 of the next year.

• Home Insurance: Home insurance varies from one insurance company to another; contact your broker. (Your lender will require proof of insurance prior to issuing mortgage funds).

• Home Inspection: The cost varies with the size of the home; its age and condition. Fees range from $350 - $500 plus GST.

• Title Insurance: Not mandatory, but it protects you from all sorts of fraud and potential errors surrounding the title. Check with your lawyer for cost.

• Land Transfer Tax: Ask your lawyer to calculate the payment.

• Moving Costs: Whether your friends help or you have full service movers, moving costs need to be budgeted for.

• GST: Most residential resale homes are exempt from GST. New home purchases are subject to GST. However, a formula for GST rebate applies. This can be discussed further if you decide to buy a new home. Substantially renovated houses may be subject to GST if purchased from a builder/renovator. Most services involved with the purchase of new or resale homes will be subject to GST.


The Home Inspection

Most offers are conditional to a “satisfactory” Home Inspection and any one of the following items could be a potential “Deal Breaker”. Here a list of things to look out for.

• Foundations, Basements, and Structures; Cracks in basement floor and walls, improper drainage and ventilation, evidence of water seepage.

• Exterior Siding, Windows, Doors; Exterior walls, windows, and doors; porches, decks, and balconies; garage.

• Roof; Roof type and material including pine shakes and condition of gutters and downspouts.

• Interior Plumbing System; Hot and cold water system; the waste system and sewage disposal; water pressure and flow; and hot water equipment.

• Electrical System; Type of service, the number of circuits, type of protection, outlet grounding, and the load balance.

• Central Heating System; Energy source, type of cooling equipment, capacity, and distribution, heat exchanger cracks.

• Interior Walls, Ceilings, Floors, Windows and Doors; Walls, floors, ceilings, stairways, cabinets, and countertops, drywall cracks, signs of settling, window seals failing.

• Attic; Structural, insulation, and ventilation information.

• Fireplace; Notes about the chimney, damper, and masonry.

• Garage; Doors, walls, floor, cracking, shifting, heaving, garage door opener.

• Appliances; includes a wide range of built-in and other home appliances, smoke detectors, and television/cable hookups.

• Lot and Landscaping; Ground slope away from foundation, condition of walks, steps, and driveway including sinking and cracks.


Home Search InformationLast Name: ________________________________________ Home Phone: (____) ___________

First Name: ________________________________________ Work Phone: (____) ___________

Last Name: ________________________________________

First Name: ________________________________________ Work Phone: (____) ___________

Home Address: _____________________________________________________________________

City _________________ Province __________ Postal _______________

To help you achieve your goals in relation to buying a home I need to ask you some questions that will help me to understand how I can serve you best. Tell me, what is the primary reason you are interested in finding a new home?________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

How many children do you have? _______

What are their names?#1 ________________ Age ____#2 ________________ Age ____#3 ________________ Age ____

Do you have any special school requirements? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

How many bedrooms would you like your home to have? _________ Baths? __________

How many square feet are you looking or? _____________


What is the basic price range you would like to stay within?

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What areas would you like to look at? ____________________________________________________________________________________

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What attracted you to these areas?

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Please rate the importance of each feature that you would like in a home.

1 being not important 5 being very important.

____ Fireplace ____ Closet spaces

____ Entertainment area ____ Den

____ Family room ____ Modern kitchen

____ Carpet color ____ Pool/Spa

____ Open feeling ____ Large yard

____ Family neighbourhood ____ Low maintenance yard

____ Single story ____ Privacy

____ Double story ____ BBQ area

____ Dining room ____ View

____ Close to schools ____ Close to shopping

____ Close to work ____ Location


Is there a special feature I have not mentioned that is important to you?

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What I would like you to do now is describe what you would consider an ideal home for you.

Tell me about the floor plan, decor, yard, etc.

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Tell me about your lifestyle. What do you see yourself doing in your new home? (Entertaining, relaxing, raising a family, etc.)

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What do you feel will be the key factors in your purchasing decision? (Price, terms, locations, etc.)

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What time frame do you have in mind for moving? _________________________________________


Do you need to sell another home before moving?

Yes___ No___

Would you like me to show how I can help you sell your home, or if your home is not local can I refer you to one of my contacts in that area?

Yes___ No___

My goal is to help make buying your home a positive experience. To do that, we need to keep communication open between us. That way the little problems that naturally come up in buying a home can be handled easily and without stress. Is there anything that you would like to tell me that you feel might be helpful in our working together?

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When is the best time(s) for me to call you?

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When is the best time for you to look at property?

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Buyer’s Requests

My strategy is to find you a home in your price range that fulfills all or most of your “needs” and as many of your “wants” as possible.

Name(s): _____________________________________________________________________

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(5) Needs: We must have these features in our new home.

(5) Wants: It would be nice if our new home had these features, but we can live without them.

(5) Wishes: We wish these features were possible.


Moving Checklist

Keeping in mind that you will be run off your feet as the move gets closer, I thought you might appreciate a few tips on organization from people who have seen virtually all of the things that can possibly go wrong.

• Start a moving expense book. Some of your expenses may be tax deductible, so be sure to save the receipts.

• Get written estimates from at least 2 moving companies and make sure the movers know all the items which are to be included. Do not include jewellery or other small valuables.

• Mover’s insurance is usually minimal. Check that the mover’s insurance will pay replacement cost of the goods, which are lost. You may need to purchase additional coverage. Notify your own insurance company of the move and ask for the policy to be reviewed.

• If furniture is to be stored, what does the insurance policy cover?• Get a written commitment, from the moving company confirming the date of the move and the time of arrival.• Ask for references from movers.• Don’t be misled by rates – inquire about additional charges and methods used to compute time.• Contact your financial institution for the transfer of all accounts, personal loans, etc. if required.• Order cheques in new address.• Register your change of address with the post office and obtain a supply of change of address cards.• Begin mailing change of address cards. Keep a list of cards sent. Don’t forget to notify all credit card

companies.• Cancel newspaper subscriptions or change delivery address.

• Take a good look at what is worth taking and what is not. Be Ruthless.• Have a garage sale. Get rid of all the junk you don’t need to take.• Clean out club and school lockers.• Arrange for the changeover of utilities, including telephone.• Book freight elevator if you are moving in or out of an apartment.• Make a floor plan of the new house and plan where everything will go. Don’t guess – take measurements.• Start packing.• Number all the boxes. Keep an inventory list. Mark the contents of each of the boxes. Make two copies of

the contents list for each box. Keep one with your inventory lists; put the other inside each appropriate box just before you close them up. Seal boxes.

• Return all items that you have borrowed, get back what you have loaned.

More Than A Month Before You Move:

2 Weeks Before the Move:


1 Week Before the Move:

2 Days Before the Move:

1 Day Before the Move:

Moving Out:

• Prepare a list of all items you want to take with you personally. Include all jewellery and valuables, items which should not be entrusted to movers.

• Prepare a list of anything else that is left.• Confirm the booking for the freight elevator.• Confirm the booking for the moving company

• This is your last day to pack.• Do your last laundry. Disconnect and drain the washing machine.• Disconnect, defrost and air dry the fridge.• Protect delicate furniture with a thick coat of wax.• Double check that all valuables have been accounted for.

• Lead packers around the house and make sure they understand all of your instructions.• Make sure you have gathered together all keys for the house for the new owners (don’t forget garage,

shed and mailbox)!• If you have a security system, why not change the code to something simple like 1-2-3-4-5 so you can

feel free to use your old code at the new house.• Pack all of the items that you will take with you personally. Mark them “Do not load – For Car,” it would

be better if these were out of the house before the movers came.

• Lay down plastic sheets to minimize dirt in the house.• Lead packers around the house again and make sure they understand all of your instructions.• Do a final check for forgotten items.• Check inventory for number of boxes – break down by room.• Check mover’s Bill of Lading against your inventory.• Clearly label and leave all the spare keys and the code for the security system if you have one, inside the

house unless otherwise arranged.


Moving In:

• Get to the house before the movers. Arrange to take milk, bread, coffee, tea, etc. with you. It will be a long day.

• Verify that the utilities have been turned on.• Lay down plastic sheets to minimize dirt in the house.• Hang up curtains if possible.• Find your floor plan and give copies to the movers.• When your goods arrive, look at each item carefully as it is put in place and check off your inventory.• Note any damage. You won’t be able to check goods which have not been unpacked so above your

signature on the Bill of Lading write “subject to loss or hidden damage”.• Seeing as you have not yet unpacked, go out and have a nice dinner. You deserve it!