Hello, First Time Buyers! I can sense the excitement and nervous energy. You’re about to embark on something fun, fulfilling and very exciting. The fact that you’ve made it to the point of searching for your first property (and whether it’s to live in or to rent out) is something to be proud of. The best I can give you?
Step 1: Engage a real estate agent
I’m not saying this solely because that’s our job here at WeLoveEastVan, but it’s the best thing you can do to build knowledge, be prepared and enjoy a successful purchase. Call/Email/Inquire with us, and we’ll set up a time to chat about what you’re expecting, what we ask of you (which is, good communication), and how the process works. If you don’t like us, that’s fine, you can interview other agents. At the end of the day, you need someone to guide you during each step of the process because there is a lot to know when it comes to buying and moving into a home. You might feel that you can search for the house yourself, and then find a realtor to help with the contract, but it’s always better to have an existing relationship so the process is smooth.
A lot of people don’t engage a realtor because they don’t want to feel pressured, or because they’re worried they’ll have to pay us – neither of these are true with the WeLoveEastVan team. You don’t have to pay realtors who help you buy a home! The listing agent splits a portion of their commission with us. If you think that because we work on commission, we’ll push you to buy something more expensive? Not true. The difference between a few thousand dollars in sale price is minimal in commission, and I would rather enjoy the high I feel after getting you a deal, and better yet, the happiness after getting a referral from you.
If you’re worried about us being pushy – don’t be. The only time I’ll be pushy is if you want to buy a terrible unit in a bad building that’ll cost you way too much. I won’t let that happen to you. You’ll know when I think a unit or building is a great, but it’ll be your decision to dive into the offer process.
Step 2: Talk to a Mortgage Broker
Mortgage Brokers are to financing, what Realtors are to houses: professionals, who have more knowledge and experience than you can imagine. I have a lot of clients who speak with their bank about getting a mortgage, which is fine, but I encourage you to speak with a mortgage broker as well. Not only will they be able to get you the same deal as your bank, but they’ll probably be able to get you a better one. Your mortgage doesn’t have to be with your bank if you don’t want it to be.
We are happy to refer our Mortgage Brokers so you can see what they’ll do for you. You (and your wallet) will be glad you contacted them. At the end of the day, if you chat with them and decide not to use their services, not a problem.
And that’s it! Once you do these two things, you’re all set, because myself and our Mortgage Brokers will guide you to your first successful real estate transaction. Contact us today. You can also follow WeLoveEastVan on Twitter and Facebook!