Among other tips, you will lean how the Vancouver real estate market cycle works, why it is important to have a good agent and team, what is currently happening in the Vancouver real estate market (including latest statistics), the elements that need to be present to lead to a successful purchase, the importance of a well prepared offer, and how to make your offer stand above others.

1. Buyer’s Seminar
Presented by Team Nickerson

2. Matt Marg Sayo Laurie Doug

3. What you will learn today
How the Vancouver real estate market cycle works
Why it is important to have a good Agent/Team
What is currently happening in the Vancouver real estate market and latest
statistics
The elements that need to be present to lead to a successful purchase
The importance of a well prepared offer
How to make your offer stand above others (aka Strategy in multiple
offers)
Tips from Laura MacCormack with Clever Lending
Insurance tips from Jeff Myers with The Cooperators
Tips from Wayne DeJong with Pillar to Post Home inspections

4. 1 Year Change 3 Year Change 5 Year Change
Vancouver East
Condos 2.6% 6.9% 7.9%
Town Houses 3.6% 9% 16%
Houses 12% 18.4% 40%
Vancouver West
Condos 3.1% 4.5% 7.5%
Town Houses 10% 13.5% 18%
Houses 9% 8.9% 42%
Latest Market Statistics

8. Why Buy Real Estate?

9. $200,000
Mortgage
Reduction
Growth of 3% Per Year
$150,000
$412,000
The power of owning real estate. It’s all about time!
$150,000
Capital
Appreciation
($1000’s)
Years
250

10. Mortgage Pay-down
Equity portion of your mortgage payments get bigger with every
payment!

11. Cheap Money from the Bank
Multiplies Your Earning Power
3% Interest
6% Interest
$709
$960
$342
$225Principal
48.2%
Principal
23.4%
Mortgage Payment on $150,000

12. Appreciation
Each 1% Appreciation = 4%Annual Return

13. Why you need to work with a good
agent?

14. Benefits of working with an Agent in
Real Estate Team
 Everyone has their own role and area of expertise so nothing gets missed
We can be in more than one place at a time
 We aren’t desperate for the sale so the focus can stay on you, the client
 Every team member has some balance and even days off!
 You have 6 experienced brains working for you instead of only one

15. We have a lot of listings so you can get the inside scoop on properties not yet listed
 We are everywhere in the market place so have a real finger on the pulse of the market
 We have fun working together, we all work out of the same office
 We can cover much more ground then a single agent on their own!

16. Real Estate Industry Secrets
 Reputation is everything – especially in multiple offers (Preparation,
follow-through, execution)
 Listing Agents want to work with agents they know
 Some Listing agents will avoid working with agents they don’t like or
know.

17. Working with a Realtor.
• Undivided Trust and loyalty.
• Full disclosure of all known facts about the properties.
• Confidentiality of your person information (Legal, personal, financial)
• Providing honest and professional feedback on the properties we see, on
comparables, and on market conditions

18. Working with a Realtor.
• Preparing the contract and reading the strata docs
• Providing contacts to help you navigate the entire real estate process: financing,
inspections, renovations, lawyers etc.
• Working with you both before and after this purchase to understand your
situation and to help you make an investment that will serve your current needs
and long term goals

19. The Search.
Lets work together
• Setting up the search (Automatic so nothing is missed)
• Open houses (Working with your own agent)
• Scheduled appointments and tours
• Search Refinement and pinpointing the details. (Weeding out the ugly.)
• Honest feed back. (Don’t be afraid to say “No”)

20. You found a property!
Writing the offer.
• Name, current address, occupation, ID is required to write an offer.
• Offer price.
• Deposit amount.
• Completion, Possession and Adjustment Dates.
• Subjects and conditions.

21. Determining the value and price.
• Market research, history, City Tax assessment, days on the market, for
what and when the Sellers purchased.
• Past sales in the building and similar properties in the area.
• Building information
• Deciding on the price you want to offer.
• Deposit amount. (5% is the Real Estate Board Standard and normally due on
Subject removal)

22. Dates:
• Completion (Clear Title and money change hands)
• Possession (The day you move in)
• Adjustment (The day you start pay strata fees, taxes etc…)

23. Subjects/Conditions
• There are some extremely common conditions, also known as Subject
Clauses, written into the contract.
• Generally 4-10 days to satisfy these subjects. The end date we select
will be our “Subject Removal Date”.
• Note: Subjects dates can be a point of negotiations

24. SUBJECT TO FINANCING
• This subject allows for the purchaser to have sufficient time to
confirm the financing arranged when you were first pre-approved and
allow the bank to approve the selected property.
• Note: Speak to your broker before starting your search to ensure this is a smooth
process.

25. SUBJECT TO INSPECTION
• This subject is there to ensure that you have the option of having an
inspector of your choice view and evaluate the property in order to
provide you with an idea of what repairs are needed at present or in
the future, and what costs may arise.

26. SUBJECT TO DOCUMENTATION OF THE STRATA
CORPORATION
• Form B Information Certificate
• Current rules and bylaws
• Current budget and most recent annual financial statements
• Complete registered strata lot plan and strata plan & any
amendments to the strata plan, and any resolutions dealing with
changes to the common property.

27. • The Last 2 years Annual General Minutes
• The Last 2 years of Strata Council meeting minutes
• A copy of any and all engineer's reports or other consultant's report
concerning this strata corporation
• a Copy of the Strata Depreciation report
• any Extraordinary and/or Special General Meetings

28. Other Documents/Subjects
• SUBJECT TO PROPERTY CONDITION DISCLOSURE STATEMENT (PDS)-
Completed by the Seller, this document provides information on the
property to the best of their knowledge.
• SUBJECT TO TITLE SEARCH- This document allows us to confirm
ownership and check for any encumbrances on the property.
• Subject to Obtain suitable fire/property insurance- detached homes

29. Your offer is ready to go!
Have your agent present your offer in person
(if possible)
• The Seller may flatly reject your offer (Back to square one)
• The Seller may make a counter offer (Negotiations: reject, accept, or
counter)
• The Seller accepts your offer as is! (Everyone's favourite outcome)

30. Your Offer is accepted!!
Due diligence - 4-10 days for Subjects
• Inspection
• Financing
• Strata Docs
• Title/PDS
• Oil Tank Scan (houses)
• Visit the City (Permits, Grow op, etc…)
• Insurance quote
Time is of the essence

31. Subject removal
(SOLD!)
• Your Offer is now an unconditional Contract of Purchase and Sale. (The
Subjects have to physically removed by the Buyer)
• Your Deposit is due (The Deposit held in trust and is transferred over to your lawyer for
completion of the purchase)

32. Costs of purchasing a Property
• HOME INSPECTION FEE- $500 - $700 plus GST
• OIL TANK INSPECTION - $100 - $250 (applies to houses)
• BANK APPRAISAL FEE - $200 - $500
• CMHC INSURANCE – typically required on any mortgage with less than 20% down-
payment.

33. • PROPERTY PURCHASE TAX - 1% on the first $200,000 and 2% on the balance. If you are
a first time Buyer, are a BC resident, plan to live in the property for at least 1 year, and are
purchasing a property under $475,000, then you are exempt from this tax.
• LEGAL FEES- $800 to $1500
• PROPERTY TAX- You are responsible for property taxes that the Seller may have already
prepaid. Depending on the time of year, this may or may not be an expense incurred at the time
of Completion
• GST - 5% of the Purchase Price and is payable on New Construction only
• Home Insurance and move in fees.

34. What's next?
• Choose a lawyer to conveyed the transaction. (Deposit, mortgage, remainder of
your down payment)
• Preparing your property insurance
• Setting up your hydro/utilities
• Notify your strata and book your move in time.
• Relax and get ready for the move!

35. What if its Multiple offers….? Yikes!

36. Points to make your offer shine!!
• Seller’s preferred dates
• Remove your subjects before writing the offer or limit the subjects
and/or the time of your subject period.
• Have the deposit cheque ready and in hand on offer presentation
• Have your agent present in person if possible and be close by if initials
or changes need to be made.
• **Putting your best price forward in the first shot**

37. Your Take-Aways
Start talking to a Mortgage Broker and Realtor before starting your
search.
 Use a Real Estate Team with a proven track record, not all agents are
created equal
 The power is in the details of your offer
 Get your offer presented right
 Do your due diligence!
Every mortgage payment is like a
Deposit into a savings account!

38. Matt Marg Sayo Laurie
Doug
ThankYou! Welook forward to beingof service.