When you make that choice to buy real estate, whether you are a first-time buyer or looking to move somewhere new, it is always a time of mixed feelings. It is of course exciting, it is the biggest purchase of our lives in all probability and represents a new start, but for most of it is also a little bit frightening, mainly because it is the biggest purchase of our lives! Understanding the buying process can help make things more manageable for new home buyers, and make sure that even those who have purchased before do not forget anything. To help with that we have put together a comprehensive real estate buyers guide that will take you through the steps you need to take, and how to avoid any costly mistakes along the way.
Finding Professionals to Work With
If you believe you’re financially ready to buy a home, your likely next step is to find the professionals to assist you. In many cases, this will be a mortgage professional (a bank employee or a licensed mortgage broker) and a licensed real estate professional. You want to find professionals you trust, who can answer your questions, help you secure financing, help you find a property, and help you successfully negotiate a purchase. It’s important to find the professionals that will suit your needs. But how? Word of mouth referrals Get recommendations from your friends and neighbours about experiences they’ve had with mortgage brokers and real estate professionals. Search online The internet is your friend. Almost all mortgage brokers and real estate professionals have an online presence, whether it’s a personal website or profiles on various social media sites. Do some searching online and find someone that appeals to you. Find out if they’re licensed Mortgage brokers and real estate professionals need a licence to operate in our agent. Do a public licence search on RECA’s website to make sure a professional’s licence is current. Visit www.reca.ca Bank employees can assist in mortgage financing and do not require a licence through RECA, but mortgage brokers do. Either one can assist you with your mortgage needs. Check the RECA website RECA posts disciplinary decisions on its website. Check the Complaints & Discipline tab on the Consumer side of RECA’s website for two years of disciplinary history, to see if RECA disciplined the professional with whom you want to work. Interview some options While the above suggestions will help you find professionals to talk to, they won’t tell you exactly which professionals are right for you. Your next step should be to interview those you are considering. Make sure they have the experience, background, and knowledge necessary to assist you in your purchase or sale. You need to feel comfortable with your choice, so it’s a good idea to ask them for references and let them know you’re interviewing multiple professionals.