Are you planning to buy a home in Vancouver area? Attend the free information session that I organize couple of times in an year & prepare yourselves and get the knowledge you need to understand the process of home buying in BC.
We will try to cover the following in these sessions:
A to Z of home buying process in British Columbia
How and when to prepare for your mortgage and financing
The most common mistakes made by first time home buyers
Basics of Financing/Mortgage
Answers to any questions you may have about the home-buying process in BC, Canada
Presenters of the session:
A Licensed REALTOR® & a Mortgage Broker will present this session.
Connect with Neeraj Kumar if you are wondering how is real estate market is doing in Vancouver. Neeraj can Provide Great Insights of Real Estate in your neighborhood. Call him today at 604-363-2370 or visit his real estate website http://www.nkumar.ca to find your dream home.
This should be first thing you should do. Talk to mortgage professional such as Mortgage Broker and check how much you can afford.
2. Prepare a Budget – Do not forget about the closing costs
There are some closing costs involved such as property transfer tax, lawyer’s fees, moving fee etc. The cost would vary and will depend on the purchase price.
3. Tax Credits
Talk to your accountant about tax credits. Fortunately, there are some tax credit available for first time-home buyers. Also talk to your accountant or Financial Advisor about the RRSP Home Buyer’s Plan.
If you have a Registered Retirement Savings Plan (RRSP) set-up, you can borrow money you have saved in this plan to probably use it for down payment.
4. Prioritize your preference
Based on your affordability, check what you would prefer condo, townhouse, or detached house.
5. Work with great real estate agent
Make sure you work with a trusted & reputable real estate agent. Finding the Right Home starts with choosing the Right Realtor. Once you know the price you can afford & your budget is in place, talk to your trusted Real Estate Advisor to check the prices of the properties in your preferred neighborhood. A Real Estate professional can set up an automatic search for you so that you get a notification as soon as a listing that meets your criteria gets listed.
The Contract of Purchase and Sale (CPS) form in BC is the document that outlines the terms of the offer from a buyer to a seller in a real estate transaction. Watch this video below and understand the process.
The British Columbia Real Estate Association (BCREA) has created this video which explains one of the key documents used in a real estate transaction.