Purchasing property is an exciting time during which you’ll want to ensure you’ve hired the best professionals to stand in your corner; among those a mortgage lender, a real estate lawyer and a trusted Shuswap Real Estate professional. By building your very own team of experts you can ensure your important questions are answered by industry specialists, setting yourself up for a smooth and informed real estate transaction. If you’ve thought of foregoing a team of professionals for your upcoming purchase, consider the roles these pros play in a speedy and successful deal;
There’s so much more to the role of a professional Realtor® than meets the eye. The strong foundations of a great Realtor® start with knowledge and expertise of the area, up-to-date industry training and polished confidentiality and professional standards.
Any Realtor® can curate a customized listing search for you as a buyer, that my friend is basic real estate 101; you want to work with an expert, not a salesperson, who’s focus is finding THE house for you, who’s negotiation skills are unparalleled and who has your best interest and goals in focus for the entire process.
Mortgage Lender or Broker
It’s safe to say that buying property may be the largest investment you’ll make in your lifetime; so, let’s not take it lightly. Weigh your mortgage options by researching local lenders and brokers to see the products, rates and terms that are available to you.
Prior to shopping the market, meet with your chosen mortgage professional to establish your unique affordability; what will your monthly mortgage payments look like, are there any additional fees you should be ready for and what other financial obligations may come with purchasing a property? Ensure your lender locks in a rate with the pre-approval and covers any questions you may have about future changes to your mortgage, such as mortgage porting in the event you sell the property.
To dive deeper into the mortgage pre-approval process, visit the Government of Canada’s helpful online hub.
Real Estate Lawyer or Notary
Navigating provincial and federal law is about as easy as buckling a bull into a booster seat; a job best left to the professionals. A real estate lawyer and their legal team are responsible for preparing all closing documents, completing a title search for deficiencies, handling the transfer of funds and completing ownership title transfer for the purchase and sale transaction. These tasks if completed incorrectly can stall possession dates or worse, create costly future issues.
In addition to preparing the important transaction documents, your lawyer or notary will also help you to identify and apply for tax exemptions and rebates such as Property Transfer Tax and GST where you qualify.
Though it’s not mandatory to have a home inspection, this professional can be a key player in your long-term property buying success. A home inspector’s key responsibilities are to examine both the exterior and interior of a property to find things that could be deemed as unsafe or in need of repair. A home inspector will deliver to you a detailed report with photos bringing to your attention potential concerns such as foundation issues, roof wear, plumbing and electrical quality, water damage and general structural integrity. The findings of a home inspection will identify immediate needs for remediation or investments you may need to be prepared for in the ownership of the property.
Budget permitting, a professional moving company can save you time and headaches for the big possession day. If you have specialty items, large pieces or a sizeable inventory of personal belongings, consider reaching out to a local moving company that offers complimentary consultations for a moving quote. These professionals will take care in wrapping, transporting and delivering your prized possessions, freeing you up to manage the working parts of move-in day. A great moving company should be insured, easy to communicate with and come with positive testimonials from past clients.
With the above professionals collaborating on your property purchase, you can feel confident that you’re in good hands. I’d love to hear about your favourite local real estate professionals, and for more information on how to establish a pro team for your upcoming real estate transaction, contact me, Craig Shantz; Shuswap Real Estate Professional.