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Buying

Our passion is matchmaking buyers & sellers like you


"Let us help you every step of the way."
 
When purchasing a home, you are faced with a multitude of decisions! The primary one is whether you are actually prepared to purchase a home. Locating the perfect home is not always an easy task, and obtaining a mortgage loan can be a complex and tiring process. Although, once you have determined that you are ready to move forward with the required effort towards your home-purchasing goal, the rewards are unquestionable.
 
While at your side each step of the way, we will make the process of purchasing a home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own. We will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and help you through the myriad of details attending the actual purchase.
 
We are always familiar with the current homes on the market, and we know neighborhood values, so we can help you determine which properties are fairly-priced and in good condition before you start your search
 
Your First Step
 
Your first step to buying a home is to first ask yourself why you want to buy a home: to stop paying rent? To start building equity? To have a place of your own? To raise a family? To entertain business associates? To move up to a bigger house? Next, list what kind of home you'd like and where you would like to be. Be specific. Separate the "must haves" from the "want to haves."
 
Think of yourself as zeroing in on a target, going from the general to the specific. Consider area (city, suburban neighborhood; community (north, south, east, or west side); neighborhood (older and settled or sparkling new; a particular school zone; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work.
 
Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this particular home.
 
Your Next Step: Loan Pre-Qualification
 
Once you have addressed the above needs, your next step in the purchasing process is to get pre-qualified with a mortgage company. This can be done over the phone or even online in a matter of minutes.
 
Call or email us and we will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approval for his/her clients.
 
We Will Find The Right Home For You
 
Once you've been pre-qualified and know what price range you want to stay in, we can help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them.
 
We have the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications. You can even search listings here at our website.
 
We Will Help You Every Step Of The Way
 

We will help you complete your financing and inspections, and close on the transaction. Our top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.

 

 

 


If you’ve decided to buy a home, it’s important to go into the process knowing all of the costs involved beyond the asking price of the property.

 

Here’s an overview of costs involved.

Buying costs

Mortgage application

Lenders may charge a mortgage application fee, which will vary depending on the lending institution.

Mortgage insurance

The federal government requires high-ratio mortgages (with less than 20% down payment) to be insured against default. The cost ranges between 1.25 to 3.75 per cent of the mortgage amount which is added to the mortgage principal.

Appraisal fees

Before your lender approves your mortgage, you may be required to have an appraisal done. Sometimes your lender will cover this cost, if not, you are responsible. The fee ranges and is typically as much as $300.

Land survey fees

Lenders may require a survey of the property. Survey costs vary.

Home inspection fees

A home inspection is a report on the condition of the home that can alert you to any potential issues such as structural and moisture problems, as well as electrical, plumbing, roofing and insulation. Fees can range from $500 - $700 depending on the size of the home and the complexity of the inspection. Some inspectors have surcharges for a secondary suite, a crawlspace, over even an older home.

Goods and Services Tax (GST)

A GST rebate equivalent to 36% of the GST paid is available for new homes priced up to $350,000 and a partial rebate on new homes priced up to $450,000.

Buyers will also pay the GST if payable on services such as appraisals and home inspections and survey fees.

Provincial Sales Tax

The PST is generally not payable on services except for legal and notary fees.  Both the GST and PST are paid on legal and notary fees.

2% BC Transition Tax

This is a new tax coming into effect on April 1, 2013. It applies to the sale of new residential homes that are 10% or more complete on April 1, 2013, with ownership or possession occurring on or after April 1, 2013 and before April 1, 2015.

Property Transfer Tax

Home buyers in BC pay a provincial Property Transfer Tax (PPT) when they buy a home. The tax is charged at a rate of 1% on the first $200,000 of the purchase price and 2% on the remainder.

First-time home buyers may be exempt from paying the PTT of 1% on the first $200,000 and 2% on the remainder of the purchase price of a home priced up to $475,000. There is a proportional exemption for between $475,000 and $500,000. At $500,000 and above the rebate is nil. Ask us for information on more cost saving programs.

Property taxes

Some lenders require property buyers to add property tax installments to monthly mortgage payments.

Pre-paid property taxes or utility bills

A buyer typically is required to reimburse the seller for any prepayments.

Mortgage life insurance

If the owner dies, this type of insurance will pay off the balance owing on their mortgage.

Fire and liability insurance

Most lenders require property buyers to carry fire and extended coverage insurance and liability insurance.

Home insurance

Buyers will a mortgage will be required to buy home insurance. To be safe, make the insurance effective on the earlier of either the completion date or the date that you pay the balance of the funds in trust. 

Most lenders also require property buyers to carry fire and extended coverage insurance and liability insurance.

Legal or Notary Public fees

Legal or notary public fees and expenses will likely apply to assist with drafting documents and ensuring the title of the home is transferred properly and without incident. 

Moving fees

Moving fees vary depending on the distance moved and whether professional movers do all of the packing. Rates vary.




Don't wait any longer to get on the path to home ownership!

 

Contact us today for tips on what your first steps should be

 

and to start recieving emails of property listings.

 

 (604) 817-8664  | drummondteam@gmail.com




 

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Matchmaking Buyers & Sellers is Our Passion!

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