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RE/MAX Kelly Wilson Realty
234 University Park Drive
Regina, Sask.
Canada
S4V 1A3
 


 

 

 

 

 

 

How to Buy the Home of Your Dreams

How not to pay too much.

  • Look at homes that meet your needs vs. the ones that fulfill your desires.
  • Shop for a mortgage BEFORE you shop for a home.
  • Make sure the REALTOR® knows what you are looking for and select a REALTOR® that you will be comfortable working with.
  • Shop with your head not your heart.
  • Don't ignore "red flags" when evaluating a home.
  • Hire a home inspector.
  • Not all fixer-uppers are good deals.
  • Don't be afraid to negotiate.
  • Know your closing costs.
  • Don't be pressured into a quick deal if it doesn't feel right.
  • Stay out of bidding wars.
  • Keep your personal situation to yourself.
  • Choose a home with an eye to your future needs.
  • Use your REALTOR® to narrow the prospect list.
  • Stay with one REALTOR®, as they will get to know what you are really looking for.
  • Once you are ready to buy, move quickly.

What to do after you have bought your new home.

  • Don't regret the purchase. Buyer's remorse is when you think you paid too much and the seller thinks the opposite.
  • Go to the bank and get your mortgage or other financing approved. The Bank will require job history, loans, outstanding credit cards, savings and chequing accounts. Depending on whether it is a high ratio mortgage, 5 or 10% down, or a conventional mortgage - 25% down or greater, an appraisal report may be required. This usually takes from 1 to 4 days.
  • You can go and see your lawyer after all the financing is in place and the conditions have been removed on the offer to purchase. Until all conditions are removed, the lawyers cannot really do much.
  • The lawyers will search the title and make sure no liens or judgments exist against the property. All such problems must be taken care of before you get your clear title.
  • The lawyers will register your mortgage against the title and handle all the financing from your bank to the sellers. They will also require proof of house insurance on your new property.
  • Once all the legal paper work is out of the way contact :
    1. City - water and sewer
    2. Sask Tel
    3. Sask Energy
    4. Sask Power
    5. Post Office
    6. Sask Health
    7. Newspaper (Leader Post)
    8. Access Communications

 
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