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Lorne Hussey, Realtor, Remax Anchor Realty, Qualicum Beach, B.C.
REMAX Anchor Realty Qualicum Beach, British Columbia

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Informed Home Buyer/Seller 2007
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BUYING A HOME

MOVING HERE?

TIPS FOR BUYERS

   Let Lorne help you make the move to Vancouver Island as easy as possible.  Backed by his knowledge of the Island and his team, Lorne can make your next move as easy as possible.

   Not only are you choosing your dwelling place, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be.

   We would be happy to help you on your next move, click here to inform us your requirements.

Take advantage of our 'Home Search' service. Let us know your real estate requirements and get we'll make sure you have a head-start on being informed of new listings - before they get listed with MLS.

Moving Checklist
A handy organizational list to help you with your next move.

Packing Tips
From small appliances to difficult sizes and shapes - review this list of helpful hints in preparing for your move.

Real Estate Glossary
Familiarize yourself with common terminology when purchasing or selling property.

To work out costs related to obtaining a mortgage, click here for our Mortgage Calculator

Please click here to order the following:
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Please make use of this handy property search http://www.realtor.ca/
If you have any questions from this site, obtain the MLS# and click here for current information

 With 3 local offices and 120,000 realtors worldwide, we're going to get the job done! But what it boils down to is getting your property front and center with every possible buyer out there and that means every realtor in the area too. Full service is what its all about. Whether it's staging your home or preparing "knockout" advertising like "virtual tours" and print ads. I can suggest Financing options, ("get prequalified!") Legal services, insurance, inspections.

  • Listing or Buying - What comes first?

   Right now, much of Canada is in a red-hot real estate market, and we're seeing the characteristic patterns that go with it. The inventory of attractive listings in many markets is lower than we've seen in some time. Buyers are aggressively going after properties, sometimes paying record prices for the few attractive, well priced homes on the market. This kind of hot market is good news for the seller, while buyers often find their choices are limited. Homeowners who want to sell their existing home and buy a new one are asking what they should do first in a hot real estate market. Question? Contact Lorne

   Unfortunately, there's no one right answer to that question. However, while each situation is different, there are some common factors to consider that may help you make the right decision. When demand is higher than the supply of housing, the resulting seller's market often brings buyers who are quick to make an offer when they see something they like. Also, their first offers are often quite good ones, since they don't want negotiations to drag on until another prospective buyer enters the picture. Your Remax Anchor Realty real estate professional can help you price your home smartly to take advantage of this market and ideally, your home will sell at a good price within a short window of time. Question? Contact Lorne

   However, if your home does sell quickly, it doesn't necessarily mean that you have to leave it quickly. Your agreement of purchase and sale will specify your transaction closing date. While this date is typically sixty or ninety days from acceptance of the offer, you are free to choose a closing date that's much later. Again, since it's a seller's market, your buyers will likely be agreeable to your timing, since their primary objective is to get the house. That gives you additional time to find a house that's right for you, and you'll now be going into that process knowing exactly what proceeds you'll net from the sale of your existing home. Question? Contact Lorne

   Selling your existing home first helps keep your offer to purchase your next home as clean, simple and attractive as possible. By eliminating the need for a condition to allow for the sale your existing property, you've removed any fear the seller may have about holding up the sale for a prolonged period of time, or the very real chance that the condition may never be fulfilled. Going in with a firm offer puts you in a much better position to negotiate the sale of your next home than you would with a conditional offer. Question? Contact Lorne

  • When do I make a Conditional Offer?

   In today's hot real estate market, many prospective buyers are questioning whether a conditional offer can impact the potential success of their home purchase. While there's no one right answer to this question, it generally depends on what specific conditions are contained in the offer. Some conditions may be simple or short-term, such as requiring a home inspection or the approval of financing. Since these conditions are commonplace and shouldn't tie up the property for long, they normally don't have a major impact on the negotiating process. An exception to that rule would be when you're competing against another bid in a multiple offer situation. Then, every detail can make a difference. Question? Contact Lorne

   In a hot market, you want to make your offer as attractive as possible and you can do this by minimizing the number of conditions present. One of easiest ways to do this is by pre-qualifying yourself for a mortgage, thus eliminating the need for a condition to allow time to arrange for appropriate financing. You're already going into negotiations knowing exactly what amount of mortgage you qualify for. Question? Contact Lorne

   If you're thinking of making an offer conditional upon the sale of your current home, that can be a challenge. Even in a good market, this condition could easily be in effect for a long period of time. If you don't price your home smartly, there's even a real chance that your present house won't sell, so the condition won't be fulfilled. In a hot market, a seller normally won't be eager to agree to a condition that holds their house at an agreed upon price and terms, for a specified period of time. If the condition isn't fulfilled by the end of that time frame, the offer expires and the buyer is under no further obligation. Offers conditional on the sale of an existing property solely benefit the buyer and can be a tough sell in a good market. You'll require a very effective salesperson to help you negotiate such an offer successfully. Question? Contact Lorne

   If you do decide on a conditional offer, and it's accepted, remember that the homeowners are still free to continue marketing their property to other buyers. While the homeowners cannot accept another conditional offer, most agreements have an escape clause that allows the homeowner to accept a firm offer, unless you firm up your offer first. This means you remove all conditions and agree to be bound by the terms of your agreement. The original selling price and terms of the offer stay in effect, regardless of what the homeowner may have been offered by another party. The escape clause keeps the heat on you to make every effort to sell your home and fulfill the condition in the shortest possible time. Question? Contact Lorne

   An alternative would be to list your existing home for sale first. Then you know what the proceeds from that sale are and what funds you can commit towards the purchase of your next home. Question? Contact Lorne

  • Carrying costs vs. Closing costs - What homebuyers need to know

   When looking to buy a new home, there are many costs to consider -- moving costs, legal fees, and even re-decorating expenses. There may also be additional costs associated with leaving your existing residence, such as lease penalties,
or mortgage discharge fees. Question? Contact Lorne

   One of the areas where homebuyers most frequently run into problems is with closing costs. Homebuyers often do not properly anticipate the costs associated with closing a real estate transaction, and the resulting cash crunch can add stress at a time when you need it least. Question? Contact Lorne

   In addition to your down payment, there are many other expenses that must be paid on closing day before your home purchase can be completed. Closing costs are typically one-time-only charges that are required to complete -- or close -- the transaction. These costs may include inspection fees, appraisal fees, title search, lawyer's fees, and applicable taxes, such as GST. An important component of closing costs is your proportionate share of property taxes, utilities etc. that may have already been pre-paid by the vendor. You should expect to reimburse the vendor for those costs associated with the period following your closing date. Question? Contact Lorne

   There may be other costs that will be necessary to complete your transaction, such as the cost of a property survey. Your Remax Anchor Realty sales professional can help you estimate closing costs before you commit to an offer to buy a home. In some circumstances, your real estate representative may even recommend spelling out the terms for some of the expenses to be incurred within your offer to purchase. Good preparation can help make your closing day trouble free. Question? Contact Lorne

   Carrying costs, on the other hand, are those expenses that are routinely incurred for the ongoing operation and upkeep of your home. These costs include such items as your mortgage payment, property taxes, heating costs, home insurance, utilities, maintenance costs, etc. Your Remax Anchor Realty sales representative can help you estimate many of these costs from the information on the listing. Your mortgage payment is another cost that can be estimated prior to making an offer to purchase. Again, your Remax Anchor Realty professional can be a helpful source of creative financing information, and can even help you pre-qualify for the loan. Question? Contact Lorne

Home Insurance - Know what you are buying

   When you're buying a home it can be a hectic time, full of details that need attending in a short period of time. One of those details is arranging for the insurance on your new home and its contents. It's a necessity to have home insurance in place on the day you take ownership, to ensure that your investment is protected. Question? Contact Lorne

   Start out by checking with your lawyer about the existing home insurance on the property. In the adjustments at closing, it's typical that the home insurance on the property will be cancelled, and it's your responsibility to arrange for new insurance with the carrier of your choice. Your lawyer can confirm whether this is the case, and that no insurance benefit is transferring to you upon closing and therefore no expenses are being incurred by you. Question? Contact Lorne

   Surprisingly, a good starting point in looking for your new home insurance can be your real estate company. Some of the more progressive real estate companies, such as Remax Anchor Realty, have forged alliances with other national companies to offer special benefits to their customers. With these programs, your status as a real estate customer entitles you to special discounted or group rates on home- related services, such as insurance. However, all programs are not alike, so weigh the features carefully. The better homeowner insurance programs will also offer additional customer perks such as a customer assist Helpline that can also provide you with quotes over the phone or online in a very short matter of time, so comparison shopping is easy and convenient. Question? Contact Lorne

   Every homeowner wants to enjoy the peace of mind that home insurance offers. How to be sure that you're getting good value for your money is another question especially when it's hard to find the time to investigate different alternatives. When comparing one company's quote against another, make sure that you are comparing apples to apples , i.e. that all the variables are comparable. For instance, what is the deductible amount that you must pay before the insurance kicks in? What is the maximum value the company has allowed for the replacement of the house, the garage, and the home's contents? How much is allowed for living expenses if you have to live outside the home while repairs are being made? What are the policy's exclusions? Read the fine print first. Question? Contact Lorne

   Some people are surprised to learn that simply by choosing to work with one real estate company over another, they can qualify for special customer services or discounts. When money is tight and time is at a premium, why not take advantage of proven performers that can save you time and money on a variety of moving related expenses? Question? Contact Lorne

Title Insurance

Comprehensive coverage for losses due to many forms of title and mortgage fraud and it includes a duty to defend your title, including paying legal fees.

Stewart Title Guaranty Co.

Good Service changes with the times

   When it comes to providing good service to homebuyers and sellers, there are some proven constants that will never change. Good service is all about listening to your customers. That's the first step in understanding their individual needs and customizing a real estate service offering that's designed to meet those needs. It's about consistently satisfying customer after customer, and building a proven track record of success that assures even your newest customer that they can trust you to keep your promises. Question? Contact Lorne

   Yet, while caring, personal service will never go out of style, the ways in which a real estate company delivers that service need to change with the times. There's an old saying that says "Nothing is permanent except change." This is especially true of today's real estate profession. Today, new developments in user-friendly technology and value-added services that extend beyond the transaction have combined to offer new service options never before available to customers. Question? Contact Lorne

Determine your wants and needs:

This is the single most important step. By asking you a series of questions I will establish what you are looking for. My goal is to not waste your time by looking at properties that are not in your price range or homes that don't meet you needs. Through-out the buying process I will maintain your confidentiality and represent your best interests. Click here for our Home Search online form.

Help you get pre-qualified

This step will show you how much you can afford. This is accomplished by speaking with a broker/financial institution and establishing what monthly payments you will be comfortable with. Question? Contact Lorne . Please make use of our mortgage calculator.

Home Shopping

I will use every available method to locate a property that matches your search parameters. This will include properties listed with our office, offered through other real estate companies, as well as unlisted properties. I will disclose all known facts about the property that is likely to affect your decision. When we find the home that meets your criteria I will assist you in writing an offer and act as a liaison between you and the seller. Question? Contact Lorne

AFFILIATIONS

Financing your Mortgage

Residential Mortgages
Lesley Cowan
BMO Investment Lending Specialist
1-877-752-4104

Buying or Selling - Why to choose Lorne Hussey as your Realtor
 
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LORNE HUSSEY, REALTOR
REMAX Anchor Realty
113 West 2nd Avenue
Qualicum Beach V9K 1T5

Phone: 1-250-752-2466
Toll free: 1-800-668-3622
Mobile : 1-250-954-4171

Email: lhussey@remax.net

All rights reserved ©2010 Lorne Hussey