Cora Shields - Royal LePage Realty North Inc. Brokerage

Buying a home is one of the most important decisions you will make in your lifetime. Not only is it a large economic investment but it is also a place where you (and your family) will live and probably raise a family.

For this reason it makes sense to enlist the help of a professional Real Estate sales representative. I can help you find that home or property you are looking for and provide information to help you make an informed choice.

What can I do for you?

	Expose you to more properties
	Explain the forms and agreements
	Write the purchase agreement
	Present the offer to the seller
	Provide the benefit of working through third party for negotiation purposes
	Handle all the paperwork through closing
	Track all the deadlines
I have been in Real Estate for over a decade. This is my career. I work at it full time so I can devote all my time to help people like you who are looking for the right home. You can contact me at the office, or on my cell phone. Buying a home is not an event - it's a process. The more you know about the process, the more comfortable you will be with the decisions you make.

Items to consider:

	The price you pay for your house has a lot to do with your income and your debt load. As a rule of thumb, most buyers can purchase a home between 1 ½ to 2½ times their annual income. This will of course depend on the market prices in the area in which you are interested. In general, your monthly mortgage payment should not exceed 28% -30% of your gross monthly income.

	Get your "financial picture" in order as soon as possible. To get the best mortgage rates you should compare with different lending institutions. This will strengthen your offer when you find that perfect home.

	There are two special Government programs in place for first time home buyers to help you put together your down payment: THE FIRST HOME LOAN INSURANCE PROGRAM and CANADIAN GOVERNMENT'S HOME BUYER'S PLAN

THE FIRST HOME LOAN INSURANCE PROGRAM: Allows first time buyers to purchase a home in any urban area with a down payment of just 5% of the purchase price. * A low down payment mortgage differs from a conventional mortgage in that is must be insured by either CHMC (Canada Housing and Mortgage Corporation or GE (GE Capital Mortgage Insurance Company Canada) (Eligibility is subject to price range limits set my CHMC/GE) CANADIAN GOVERNMENT HOMEBUYER'S PLAN:* Allows you to borrow funds from your RRSP to buy your first home. If you qualify, you and your spouse can each borrow up to $20,000 from your RRSP to use as a down payment on your home. The funds must be on deposit for at least 90 days. You require a signed agreement to buy or build a qualifying home - new or resale. Your RRSP carrier can provide you with Form T1036 for completion. You can only participate in the program once.
	You've found the perfect home and it's time to make your offer. As your agent, I can provide current market information and assist you in preparing your offer. I will communicate the Offer to Purchase to the seller or the seller's representative on your behalf.
The Offer to Purchase is a legal document which specifies the terms and conditions of your offer to purchase the house. The offer can be firm or conditional. Firm Offer to Purchase: is usually preferable to the seller because it means you are prepared to purchase the home without any conditions. If the offer is accepted, the homes is yours! Conditional Offer to Purchase: means you have placed one or more conditions on the purchase, such as "subject to financing" or "subject to sale of buyer's existing home", etc. The house is not sold until all the conditions are met. Acceptance of your Offer: the offer will be presented as soon as possible. The seller may accept the offer, reject it or make a counter-offer. The counter offer may be in reference to the price, the closing date, or any other variables. The offers can go back and forth until both parties have agreed or one of the parties ends the negotiations. If the offer is accepted, the house is yours! You should have your lawyer make all the final preparations for closing the sale and arrange for home insurance. On closing, the title will be transferred to you, the funds will be transferred to the seller, and all that is left is to MOVE IN to your Home Sweet Home!
	You now own your own home! A few final details to remember will make a smooth transition from your apartment or previous home, so you can enjoy your new home.

Final Details:

	Book the movers ahead of time. You may want to get some estimated from different companies.
	Arrange to have your gas, water, electric meters read at your previous residence on the day you leave and have the bills forwarded to your new address.
	If your water heater or furnace is rented, arrange for a transfer of rental to the purchaser.
	Disconnect your telephone, cable, etc. at your old residence.
	At your new home arrange for telephone, cable, etc. to be connected on the day the sale of new home home closes.
	Send out "change of address" cards well before the move.
	Arrange for the Post Office to forward mail to your new home.
	Change the address on your driver's license effective on the move date.
GET MOVED IN EFFORTLESSLY AND ENJOY YOUR NEW HOME!

Cora Shields, Royal LePage Realty North Inc. Brokerage