Your Home Buyers Guide


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My Home Buyers Guide is a valuable tool prepared to help you understand the complex process of buying a home in today’s market. My commitment is to put my extensive professional, technological and networking resources to work, in your best interest, to help you purchase the right home.

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Your Home Buyers Guide

  1. 1. Home Buyers Guide I work hard to establish the kind of trust that will compel clients to call me their Realtor.
  2. 2. My objective To find and negotiate your new home or condo for the least money possible in the shortest time with the greatest convenience to you.* *and make it enjoyable My Home Buyers Guide is a valuable tool prepared to help you understand the complex process of buying a home in today’s market. My commitment is to put my extensive professional, technological and networking resources to work, in your best interest, to help you purchase the right home.
  3. 3. How to get started Step 1. Select representation that meets your needs. Buyer Agency (why you need an agent who works for you) Step 2. What timing is right for you? Determine whether or not to put your home on the market while searching for a new home. Determine a time frame for moving and clarify your expectations. Step 3. Make an appointment with a lender for pre-approval. Gather your financial information and documents. Talk to a lender about pre-approval; make sure you understand the difference between pre–approval and loan approval. Determine purchase power and establish price range. Step 4. Examine your needs in finding a home. Set priorities for size, location, style, features. Select Search Areas. Drive-by Tour of Homes. Select homes with a Buyer Agent. Step 5. Preparing an offer Discuss what is negotiable and what is not. Determine amount of the deposit that you will make. Determine possession dates (when you need to move in!). Discuss Conditions needing to be written in contract Financial Condition: (CMMC/GE Capital Approval) Do you wish to inspect the home for defect before purchasing the home? Sale of Property Condition: Must you sell your existing home before being approved to purchase the home? Prioritize your needs: Negotiable items to your needs. Step 6. Negotiate an acceptable offer Offer/Counter offer: Make sure you are realistic during this back and forth process. Know when to compromise and when to walk away. Step 7. What happens once our contract is accepted? Make sure you have all documents (including accepted contract) on loan approval. Schedule, and be present, during home/termite inspection, if applicable. Waive any conditions. All appropriate documents will be forwarded to your lawyer An will order title search and/or title insurance) Step 8. Prepare for closing day. Contact lawyer re: closing instructions and signing date.
  4. 4. My home buying system 1. Provide you with a customized buyer’s pre-purchase information guide. 2. Meet with you to discuss your exact housing needs, desires and dreams. 3. Explain agency relationships and representation. 4. Review all anticipated costs in regards to buying your new home. 5. Outline your financing options based on your current budget. 6. Have you “pre-qualified” in writing for a mortgage by my recommended mortgage broker or your own lender? 7. Input your specific housing criteria to continually flag the Toronto Real Estate Board Multiple Listing Service properties on a daily basis that meet your needs. 8. Submit your housing needs to my Royal Lepage colleagues. 9. Work closely with sales people from all other companies to find your new home. 10. Prospect for your new home in your chosen neighbourhood. 11. Assess prospective homes according to your requirements before recommending your viewing the property to eliminate any inconvenience to you. 12. Schedule appointments of suitable properties for your viewing. 13. Encourage detailed feedback from you to keep our efforts focussed. 14. Provide you with info regarding activity in your preferred neighbourhoods. 15. Review current market conditions and seller behaviour on an on-going basis. 16. Determine, with you, the lowest realistic price of your future home. 17. Draft your Offer to Purchase with appropriate recommendations and support. 18. Use my experience, training, skills and concern to bring the negotiations to a favourable conclusion. 19. Monitor the progress of your accepted Offer of Purchase and Sale until closing. 20. Help you with the sale of your present home when necessary.
  5. 5. Five stages of buying your new home* EXPLAIN who I am, what I offer, and why I am your best choice. MEET with you; discuss this material and your current needs. FIND your new home. NEGOTIATE the best possible deal for you. MONITOR the progress of your accepted offer until closing. *Buying a home should be an exciting and fulfilling experience - from your first house-hunting expedition through to "closing" and beyond, you, as a prospective home owner, should be knowledgeable and feel confident about your new home and your future.
  6. 6. Your offer has been accepted... What is next? Lawyer You will need to secure a lawyer to process your purchase. We will forward all necessary documentation in our possession to him/her. Mortgage You will need to determine which bank/trust company you will want to hold the mortgage on your new home. You should have a mortgage pre-approval already in place. Insurance Call your own insurance company or seek out a new one through referrals. No fire/home insurance means no mortgage, it is a must! Utilities Approximately 30 days prior to the closing date, contact gas, oil, hydro, water, cable and the phone companies to inform them of the date you will be taking possession of your new home. Movers Contact moving companies shortly after you have a firm purchase to determine which company you will want to hire to move your belongings. Change of Address Contact credit card companies, Ontario Motor Vehicles (OMV), friends, family, magazine subscriptions, post office, etc. to notify them of your new address.
  7. 7. Closing costs. What to expect… Many people do not know all the closing costs associated with buying a home. These are the costs that you will have to pay to complete the transaction of buying a home. The following is a list of expenses normally incurred by a buyer when completing the purchase of a residential property within Toronto: 1. Deposit Not really a closing cost, but you do need to put a deposit down on the home you are buying, which goes towards the purchase price of the home. Depending on your financing and mortgage situation, this can be considered a closing cost. 2. Legal Fees The tariff rate for residential properties is between .25% and .5% of the purchase price, normally not to exceed $1,450.00. Lawyers may negotiate their fees and will provide individual quotes when requested. 3. Land Transfer Tax - Provincial $ 55,000 - $250,000 (Purchase price x 1%) minus $275.00 $ 250K - $400K (Purchase price x 1.5%) minus $1,525.00 $400K - up (Purchase price x 2%) minus $3,525.00 Land Transfer Tax - Municipal $ 0 - $ 55K (Purchase price x 0.5%) $ 56K - $ 400K (Purchase price x 1%) $ 401K - up (Purchase price x 2%) 4. Survey A new survey may be necessary if the Seller does not have an "acceptable" survey and one is required by the first Mortgagee. Cost $ 750.00 - $ 1100.00
  8. 8. 5. Disbursements* - A typical list of disbursements is as follows: 1. Law Society Transaction Levy 2. Tax Certificates 3. Building Clearance 4. Sheriff's Certificate 5. Deed Registration 6. Mortgage Registration 7. Registry Office Searches 8. Water Status Reports & Consumers Gas 9. Copies, Postage, Fax, etc. 6. Title Insurance $ 250 - $ 300 (if new home is under $500K) $ 400 (if resale home is under $500K) 7. Mortgage Broker fees Depending on which broker you deal with, your credit situation, and how the money & where the funds are coming from, you may pay no, small or hefty brokerage fees. 8. Adjustments On a pro rata basis the lawyer will apportion the following expenses, as of the date of completion: Taxes; Oil (usually topped-up by the Seller and the Buyer receives a full tank); Water (only flat rate accounts in Toronto); Common expense fees *All disbursements with the exception of registration costs are subject to applicable G.S.T. Please Note other typical monthly costs associated with home ownership include mortgage payments, maintenance, insurance, condo fees, property taxes and utilities. ATTENTION FIRST TIME BUYERS: Whether you are buying a resale property or a new property, you are eligible in subsidies savings.
  9. 9. Who is your REALTOR working for? Your Buyer Agent A real estate company acting as a "Buyer's Agent" must do what is best for the Buyer. A written contract establishes Buyer Agency. It also explains services the REALTOR will provide, spells out who will pay and specifies what obligations a Buyer may have. Typically, Buyers will be obliged to work exclusively with that REALTOR for a period of time. A REALTOR working for a Buyer will keep information about the Buyer confidential from the Seller. What is Dual Agency? Occasionally a real estate company and its sales representative will be the agent of both the Buyer and Seller. Under this "dual agency" arrangement, the REALTOR must do what is best for both the Seller and Buyer and strict procedures must be followed. A REALTOR can be a dual agent only if both the Buyer and Seller agree in writing. Ask your REALTOR for more specific details. o REALTORS will be paid by the Seller unless otherwise arranged with the Buyer at his request. The listing agreement states the Realtor’s fee. o Buyers & Sellers will ALWAYS be told - in writing - who a REALTOR is working for. o Ask your REALTOR for more information. o The Buyer's Agency Agreement is for your protection and I agree to cancel at any time if you are not satisfied with my services. While not everyone is looking for the same things in a home, there are certain criteria that make an agent stand out amongst their peers. Qualities to look for in a great Toronto real estate agent include: - experience in the field - professionalism - prompt attention to your needs - provides pertinent information on the real estate market
  10. 10. Eight good reasons to hire me as your Realtor Finding the perfect real estate agent could be the first step to finding the perfect home. Whether you're a first-time home buyer or savvy investor you have my professional expertise to help find that perfect home, explain the entire buying process and negotiate the best deal for you. 1. Saving: A buyer's agent will always negotiate the best price and terms possible for you, the buyer. The buyer's agent will also disclose to you any known information about the seller concerning an urgency to sell a property. 2. Time: Most agents have a large inventory of listings which they are obliged to show first. The buyer's agent will sit down with you and determine what type of home best suits your needs, then search the computer (database) and listing books to locate only the homes that meet your criteria. 3. Confidentiality: Any facts known about you that could hurt your negotiating position will be kept confidential. On the other hand, when working with a sub- agent, all facts about you (including how much you can spend) must, by law, be divulged to the seller. 4. Representation: From negotiations through closing, a buyer's agent always looks out for the buyer's best interest. 5. Protection: Most real estate contracts are written to protect the seller while our contracts are designed to protect the purchaser. 6. Information: A buyer's agent can give the purchaser all the information about the property including how much the seller paid and what all the other homes in the neighbourhood sold for. 7. Loyalty: With a true buyer's agent, you will always know your agent's loyalty is to you. 8. Peace in mind: Selecting a buyer's agent means any known facts which could adversely affect the value of a property will be disclosed to the purchaser.
  11. 11. What is an Agency agreement? And do I need to sign one? If you haven’t bought or sold real estate in awhile, you’ll find a few changes to the process. When you start working with a real estate agent, you’ll be asked to sign an agency agreement. A lot of people aren’t sure what this means. We’ll de-mystify the process. The term ‘agency’ refers to the people who the real estate professional represents in a transaction. Many people don’t realize that historically all real estate agents have legally worked on the Seller’s behalf. Yes, even when your agent showed you homes and negotiated the final price for you, his/her legal duties were to the seller, not the buyer. This has changed. All licensed real estate brokers and salespeople must have a written agency contract to establish who they are working for - the buyer or the seller. Buyers will be asked to sign a buyer agency agreement and sellers will be asked to sign a listing agreement. People often balk at signing documents with which they are not familiar, and rightly so. You need to know that these agency agreements protect you. By signing an agreement, you know that your real estate agent is working in your best interests. If, as the buyer, you refuse to sign an agreement, the agent’s fiduciary duties swing to the Seller. The agent is then obliged to disclose to the Seller any information that would assist him or her in the sale, including, perhaps, how much you - the buyer - are willing to pay. As a Buyer you should choose to have me work for you and not the Seller. Basically this means I agree to represent you and you alone in buying your new home. As Buyer agents we still get paid through a share of the selling commission so there is no need to worry about extra costs. It is included as part of the Purchase Price. Under the rules of the real estate industry’s governing body, the Real Estate Council of Ontario (RECO), real estate professionals must have agency agreements with clients. For more information, call RECO at (416) 207-4800.
  12. 12. Additional services Guaranteed follow-up My services do not end once we have firm deal. I'll be with you right through to the closing date and beyond. I will ensure your real estate needs are met at every stage of home ownership. . Arrange Your Home Inspection Once you buy a home or condo, you’re on your own to maintain it, repair it, anticipate problems and pay the bills. This is why it’s best to know as much as you can about potential problems before you make the commitment to buy. Moving Day Should you hire a moving company or do the moving yourself? Whether you choose to move yourself, hire professionals or combine the two, the more planning and research you do ahead of time, the smoother and more cost-effective your move will be. I’m here to help! .
  13. 13. Mortgage options? So you decided to buy! I can assist you with finding the right senior mortgage consultant to help you choose the best home mortgage for your needs. Learn the facts and your options before you buy. Market Advice – Is it the right time to buy? Thinking of buying a home but not sure if now is the right time? Talk to me for sound advice on when to buy. Whatever your reason, buying a home or condo can be a complicated procedure so it’s imperative to have a qualified real estate professional on your side. Trades recommendations Planning to upgrade or renovate your new home or condo? I can help with who to hire, where to buy and who to avoid when it comes to renovating or upgrading that new home or condo.
  14. 14. My bio In today's real estate market, information is the new currency. Buyers and Sellers are more knowledgeable and they want to work with professionals that can provide them with transparency in the process, the information they are looking for and consult with them in the decision making process. "I am focused and hard working and whether you are a first-time home buyer or a seasoned investor, you will be impressed with my knowledge with Toronto's ever-changing real estate market. I helped countless buyers and sellers with their real estate needs since 2000." "I continuously adapt my real estate style to fit the constantly-changing industry. My clients appreciate my ability to generate current, fresh ideas for marketing their homes and rely on my excellent reputation to advise fairly and negotiate successfully." “I communicate regularly with my clients, keeping them updated each step of the way. With dedication and enthusiasm, my intent is to build long term relationships! Period! Hence, by providing this high level of service, my clients feel confident referring their friends and family to me for their real estate needs. I am also a self-taught artist and and have had a passion for art for as long as I can remember. I share my work with all my clients. For me, my inspiration to work with people encourages me to create and this can occur anywhere, anytime, but the real depth of my work comes from my imagination." I invite you to contact me should you have any questions or matters relating to real estate. I promise to have it answered! Professional affiliations and credentials: I am a member of the Toronto Real Estate Board (TREB) - The Ontario Real Estate Association (OREA) - The Canadian Real Estate Association (CREA) and licensed by The Real Estate Council of Ontario (RECO).
  15. 15. My testimonials “With my picky and complicated family, Brian couldn't have been more positive in helping us find the best place to meet our needs. What was most important was that every search he made to find a place for us was absolutely what we wanted. He was very professional, patient, and caring. My whole family appreciates everything that he did for us! 100% RECOMMENDED!” October 31, 2009 - Sandra Yan & family “Brian was an amazing asset to have on our side. Beyond the simple house searches and showings, Brian assisted us through the whole purchase process, from inspectors to lawyers. Without Brian, there is no way we could have completed on our house in the timeframe we were given. We'll gladly refer friends and family to Brian; we know they will be well looked after.” November 10, 2009 - Scott and Susan “Before I met Brian, I had sold 3 homes with other realtors and received average service. When it came to sell my condo I was referred to Brian by a friend that had worked with him in the past. He presented himself professionally and was very well prepared for our first visit. He walked me step through comparable property listings and provided solid sound advice on staging my property to ensure it stood out from the competition. He has since sold another property for me and I will always use Brian’s services and will gladly refer him to anyone I know to buy or sell a home” October 7, 2009 - Richard Wilson “I have found that Brian Mayer has the highest standards in morality, professionalism and integrity .I have never had to question the fact that he always puts his clients first. He is very easy to get along with and thinks outside of the norm to ensure that all the T's are crossed.” Top qualities: Great Results, Expert, High Integrity. I hired Brian as a Real Estate Agent in 2009, and hired Brian more than once.” September 21, 2009 - Stuart Howie “As a first time home buyer, I expected the process to be stressful and intimidating. It was in fact just the opposite experience when I purchased my condo a few weeks ago. I owe it all to Brian Mayer who helped me every step of the way. Not only did he find just the right condo for me, he also informed me about all the programs available for first time home buyers, and guided me through the entire process. Without his knowledge and tireless follow through, I never would have had the opportunity to purchase my first home at the age of 23! Brian is patient, kind and just an all around great person. I would highly recommend Brian to anyone in the process of purchasing a home.” June 20, 2009 - Matt Montano “I have known Brian a long time and worked with him in the restaurant business. Brian has always been a very goal oriented person and worked hard to achieve his goals. Brian can be counted on to be upfront and honest. In this business world that is highly commendable!” May 25, 2009 - Diana Boutin More testimonials here or visit my website: First Time
  16. 16. As always, my cancellation guarantee makes listing or buying your home/condo with me completely risk free! My guarantee to let you cancel your Listing or Buyer Agreement(s) at any time, prior to accepting an offer to purchase or sale your home/condo, if you feel I have not done my job! The benefits to you are:  You do not have to worry about getting into a long-term commitment if you are not 100% satisfied with the service I provide.  You do not have to worry about lengthy broker protection periods if you decide to cancel the listing agreement.  You do not have to pay any costly "cancellation fee".  I make selling/buying your home/condo with me totally risk free. My responsibility to you: I am 100% committed to providing the highest level of service in the real estate industry. My success depends upon this commitment to serve your needs and continue growing our business. I realize that you are the most important element in this relationship.
  17. 17. Our mission statement At Royal LePage Your Community Realty, "People come first...and it shows!” Royal LePage - Your Community Realty offers over 600 Realtors, 10 office locations and 50 support staff to cater to the real estate needs of our clients. We support and service the growth of our local communities by providing personal and professional real estate services in a timely and consistent manner. OUR VALUES We are local residents and residential specialists. We pride ourselves in selling marketable properties to create the results our clients and customers expect. In our business we strive to create long-term relationships. Over time we have inspired a high level of trust by doing the right thing for our clients. We treat people with openness, co-operation and commitment. TEAMWORK We consider ourselves a team, willing to put co-operation first before competition. We meet the challenges of change in technology, law, and our profession by creating a safe ‘learning environment’. Along the way, we have fun and encourage people to fully develop themselves in a creative climate of compatibility. STANDARS OF CUSTOMER SERVICE Our goal is to create an exceptional level of service, based not on profits, but clearly focussed first on satisfying consumer needs. We want our clients delighted with our service so that they will refer others to us with confidence, and continue their business relationships with us for life.
  18. 18. Why choose Royal LePage? WE KNOW THE MARKET. At Royal LePage, we have been committed to helping Canadians buy and sell homes since 1913. With almost 100 years of real estate experience, we would like to thank our national network of REALTORS® for their commitment and dedication to making us a leader in Canadian real estate. WE ARE A FULL SERVICE REAL ESTATE COMPANY. At Royal LePage, Helping You is What We Do, it’s more than just a tagline; it’s what we stand for and what we deliver. WE HAVE CONTACTS locally, provincially, nationally and internationally who regularly supply us with valuable potential home buyer referrals. We are the exclusive affiliate of All Points Relocation Services Inc., a network of Real Estate associates throughout North America and Europe who regularly refer potential home buyers to us. Conversely, we have the contacts to refer you to another firm throughout the world. OUR FULL-TIME MARKETING AND SALES REPRESENTATIVES have been carefully selected. In addition to the mandatory licensing courses, they participate annually in extensive and ongoing marketing and sales seminars reflecting any immediate changes in the market and the industry. They are knowledgeable, informed and current. WE HAVE A REPUTATION FOR RESULTS. Our marketing and sales representatives are well known and respected within the profession, which creates a greater networking opportunity and spirit of co-operation with their peers. The result is maximum exposure for your home. OUR PERFORMANCE IS VIRTUALLY GUARANTEED. Many Real Estate firms sell less than one third of the homes they list. We have consistently performed well above the national average in both good and bad times. We only get paid for our services when your home is bought or sold. Let us implement your Personal House Marketing Plan Now.
  19. 19. Our history Royal LePage is a leader in Canadian real estate since 1913. Founded by Albert LePage when he was just 26 years old, Royal LePage now has nearly 14,000 agents across the country. And we firmly believe that you can only become a leader by being the best. For over 95 years, Royal LePage has led the real estate industry. We helped found the Toronto Real Estate Board and Ontario Real Estate Association, and set the standards for all other real estate companies to follow. We have expanded across the country so that wherever you want to live, you will find a Royal LePage agent ready to help. We have added new services to help our clients realize their dreams and secure their future. And we remain steadfastly and proudly Canadian. We have never forgotten our roots. Albert LePage was a pioneer whose innovation and belief in customer service helped transform the real estate industry. He built a company based on professionalism, principled conduct and the highest moral and ethical standards. And those principles still guide us in everything we do. Today, Royal LePage has approximately 14,000 real estate agents and REALTORS® in more than 600 locations across Canada. Over the years, we’ve learned a lot about real estate and how to provide the best possible service for our clients. Since the mid-1990s, Royal LePage has more than tripled the size of its sales force and almost doubled its market share. Throughout our successes, we remain dedicated to helping you through the real estate process. Our commitment to innovation and customer service is as strong as ever.
  20. 20. The Royal LePage network With nearly 14,000 agents and REALTORS®, Royal LePage has an unparalleled network of real estate offices across the country. Not only do we have the best access to the homes (and homebuyers) in the Canadian market, our Canadian partnership with Leading Real Estate Companies of the World® (the world's largest referral network with over 127,000 associates worldwide) gives your property exposure to buyers from around the globe. WE SUPPORT OUR AGENTS SO THEY CAN SUPPORT YOU We offer all of our agents and REALTORS® – from those serving tiny communities to those in major urban centres – strong support from our national pool of knowledge, skill and technical expertise. We regularly invest time, money and resources to develop and provide the resources and tools they need to best market your home, including the following: • Up-to-date information about local market conditions • Quarterly housing reports • Creative brochures and newspaper ads to showcase your home • Effective Web design and listings on • Ongoing negotiation, marketing and technical training OUR COMMITMENT TO TECHNOLOGY Royal LePage invests millions in information technology to ensure speedy communications, improve the flow of information, and make sure our messages reach the widest possible audience: • Serious communication technology means you can always reach us. • State-of-the-art analytical tools offer marketing information you can trust. • Our cutting-edge promotional tools are professional and persuasive. • Plus, you have access to Canada’s first real estate web site, which is regularly upgraded to meet changing needs.
  21. 21. How may I help you today? brianmayer Real Estate Sales Representative Royal LePage Your Community Realty Brokerage Independently Owned and Operated 187 King St. East Toronto, ON. M5A 1J5 416-219-6662 or e-mail me Helping You is What We Do. “A referral remains the highest compliment I can receive.” Brian