Buyer

“the city with the most attractive real estate for buyers in Canada”

Guelph has been named “the city with the most attractive real estate for buyers in Canada” by Moneysense in 2017.

Why so? Economically, Guelph is solid and stable with a miniscule unemployment rate, Guelph has a tight rental market with the vacancy rate being below 1% as well as our home values continue to increase as much as 16% in 2016. There are very few downsides to investing here!

However, buying can sometimes be a frustrating, difficult and an emotional process which is why we would like to help in making this easier and more enjoyable for you. Depending on house inventory levels, Guelph can see multiple offer situations in periods of low inventory.  With less to choose from, this can sometimes push pricing to be higher than normal for this area. This is similar to Toronto and Vancouver markets yet Guelph’s market and prices are more balanced.

Before entering multiple offer situations or before entering any agreement for that matter, it’s important to get a pre-approval from your lender. This tells you the maximum amount of money you can spend to avoid getting caught in a situation where you can’t purchase the house you’ve fallen in love with. It’s also important to keep in mind the closing costs as you will need to factor these into the total amount your spending.

FORMS EXPLAINED

Working with a Realtor

Working with a Realtor is a form which describes real estate services between the consumer (you) and the real estate brokerage. It outlines the different types of service relationships available, client & customer, which defines the type of relationship the consumer and the real estate brokerage will have moving forward. It is important that you as the consumer understand these different types of service relationships available explained in the Working with a Realtor form.

Buyer Representation Agreement

The Buyer Representation Agreement gives the real estate brokerage permission to act on the Buyer’s (your) behalf in the purchase of a property and must be signed prior to an offer being presented on behalf of the Buyer. This representation agreement outlines the services provided, the cost related to those services and the length of time you have agreed to work with that agent and brokerage. It is important that you carefully read through this document as it defines your relationship with your realtor and their brokerage and how they will represent you.

FEES EXPLAINED

Home Inspection Costs

Home inspection costs vary on what company you use to do your inspection as well as what type of inspection you’re having done. Home inspections can range anywhere from $400-$800 and typically take 3 hours to complete.