Buyer’s Guide

This guide will take you through the steps of purchasing a property with confidence when you choose The Anna Oliver Group.

Introduction

Anna Oliver, a Luxury Real-Estate Mastermind! With almost 20 years of real estate experience, her motto is – Just hand me the keys and I’ll take care of the rest! – has stood the test of time. With The Anna Oliver Group, the relationship doesn’t stop when the paperwork is complete. Whether you are an experienced real estate investor with a sophisticated and diverse portfolio, or a first-time homebuyer contemplating the purchase of your dream home, it is essential to select a skilled real estate advisor to help you navigate the process.

The highest level of service and expertise can be expected while The Anna Oliver Group provides homebuyers with expert advice, accurate market and property information, and prompt access to coveted properties.

Whether it is the first time or not, finding and purchasing a home will easily be one of the most exciting events in your life! Although there are general steps in the process, it is important to keep in mind that every homebuyer or investor has their own unique situations and requirements. Advice from a professional, tenured, expert real estate advisor to assist with navigating financial, property and personal requirements are necessary to ensure a successful transaction. With The Anna Oliver Group, you have found just that expertise – we are so excited to help you navigate your purchase!

Anna Oliver

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DIRECTOR OF ESTATES | THE AGENCY, CANADA

Step 1. Prepare

SECURE FINANCING

Before starting your home search, it is important to evaluate your financial situation. Review and confirm your budget, familiarize yourself with mortgage options, and secure a pre-approval from your lender. Doing these items in advance will help you conduct your search with confidence and negotiate your desired home successfully.

ESTABLISH YOUR BUDGET

When determining your total monthly housing costs for your primary residence do not forget to include the mortgage payments, taxes, maintenance fees, insurance, interest charges, and utilities. This total should not exceed 32% of your gross monthly household income.

CONFIRM DOWN PAYMENT

If your down payment amount is less than 20% of the total purchase price, you will need to purchase mortgage loan insurance. The lender will require this as it guarantees the mortgage debt against default. This insurance is built into the mortgage itself and you should be aware of it, however, it is not a separate monthly cost that you need to prepare for.

CHECK YOUR CREDIT RATING

Your credit score plays a significant role in your mortgage approval process. Your lender will consider many factors, including your credit score, when determining the interest rate and other loan terms they offer you.

GET WRITTEN PRE-APPROVAL

Written pre-approval is essential and will give you a competitive edge in securing your desired home. For example, if a seller is looking at similar offers, they will be much more likely to accept an offer with a pre-approval than without.

DEFINE YOUR GOALS, NEEDS & PRICE POINT

Prior to meeting with The Anna Oliver Group, you should have a clear understanding of your goals, needs and price point. Think about your property preferences and any anticipated lifestyle changes or requirements that may impact the purchase of your home and your preferences. As a starting point, you can complete the following worksheet in preparation for your consultation with The Anna Oliver Group.

Step 1. SECURE FINANCING-Anna Oliver Seller's Guide

LIFESTYLE AND STAGE OF LIFE

Give thought to how long you plan on staying, your situation with children/older relatives and if you are close to retirement. Do you want to be close to certain schools? Do you need access to transit? How much of a commute to work are you comfortable with?

HIRE YOUR REALTOR

A REALTOR® represents your interests when purchasing a home, one of the most significant financial investments you can make. For this reason, it is essential to select an advisor with in-depth knowledge of your local real estate market and specialized experience in the property types you are interested in.

Step 2. Search

AUTOMATIC PROPERTY UPDATES

The Anna Oliver Group will set up instant email alerts to reach your inbox as soon as a property meeting your criteria become available. These alerts are an integral piece of the buying process. It is important that you review the alerts and advise us as quickly as possible of your interest. In highly desirable neighbourhoods, homes are sold within days, or even within hours, of being listed on MLS! Some properties are sold within a real estate company’s network without ever reaching the public; rest assured The Anna Oliver Group will alert you to any exclusive listings that meet your criteria!

PROPERTY TOURS

The Anna Oliver Group will schedule a tour of any properties matching your criteria and preferences. You are also welcome to review properties on realtor.ca or theagencyre.com or by visiting open houses. If you see a property you are interested in, contact our team to schedule a private tour. Often, Anna can pre-qualify properties so you are not wasting your time if the property is not a good match after all.

MARKET ANALYSIS

It can be challenging to determine the reasonable value of a home and to assess whether it is “good value” for its listed price or for your budget. There are so many variables that come into consideration when assessing market value including its location, specific neighbourhood, community planning, proximity to amenities, lot attributes, views, property size, interior and structural condition, construction type, age, unique features, and the state of the local real estate market. No wonder it is so hard to ensure the pricing is the ‘right value’! There are no rules or limitations on how properties are priced; this is where an experienced realtor will come in handy. When reviewing properties with Anna, you can have confidence in her advice, receiving access to her well-established industry relationships and years of expertise.

Step 3. You Found Your Home. Now What?

SUBMIT YOUR OFFER

It is important that you sit down with your realtor to prepare your offer. Real estate laws vary widely from region to region, and it is essential that you protect your legal interests and account for any specific contractual contingencies unique to your area and desired property.

LEGAL AND CONTRACTUAL OBLIGATIONS

In Canada, an offer commits you to legal and contractual obligations as soon as the other party accepts it. Prior to submitting an offer, ensure you are clear on the legal obligations you are undertaking, should the offer be accepted.

VALUATION

Prior to writing your offer, your realtor will provide you with information on recent area sales, local market information, and background.

BACKGROUND RESEARCH

With some investigation, your realtor may also be able to assess your seller’s background and objectives for selling, which may assist you in crafting a competitive offer.

OFFER DETAILS

The details of an offer typically include your legal name and that of the seller, the legal civic address of the property, the price you are offering to pay, inclusions (items in or around the home that you think are included in the sale should be specifically stated in your offers, such as appliances, lighting fixtures or window coverings), amount of your deposit, dates you take legal and physical possession of the home, legal “subjects” or “conditions” upon which the contract becomes final (such as satisfactory home inspection report or financing approval), and the date the offer expires. Your offer is a legally binding document and should be prepared by a real estate professional or lawyer.

PROFESSIONAL INSPECTION

The Anna Oliver Group can advise you as to whether a professional inspection should take place before or after submitting your offer. This will depend on the property age and type, and whether competitive
bids are anticipated.

TIME FRAME

Ensure that any time frames indicated in your contract are realistic, particularly if your offer is subject to financing. Increases in market activity, as well as increased vigilance by lenders, may mean that mortgage approval requires more time.

Step 3. Hand Anna The Keys-Anna Oliver Seller's Guide
Step 4. Your Home Search-Anna Oliver Buyer's Guide

Step 4. Negotiate

After submitting an offer you should be prepared to negotiate, not just on the initial price, but for all key factors impacting the sale of the home including deposit, inclusions, dates for possession, and deadlines for additional conditions. Ensure you know your budget and requirements prior to submitting your offer so you do not commit to additional costs during the excitement of the process.

MULTIPLE OFFERS

Given the current market, you will most likely find yourself bidding against other buyers. Some sellers in high-demand niche markets may also intentionally list their homes at a low price hoping to stimulate multiple offers.

POTENTIAL RESPONSES

Accepted As-Is: once signed by the seller, the offer becomes a binding legal contract.
Counter-Offer: the seller may make changes to your offer, such as adjustments to the price, closing date, or conditions. You may accept the counter-offer and close the deal by signing the document, or you may make another counter-offer back to the seller.
Rejection: the seller may choose to reject the offer.

Step 5. Close The Deal

The closing or completion day is the day you take legal possession of your new property.

PREPARATION

As this day nears, The Anna Oliver Group and lender will monitor the progress of your transaction to ensure there are no last-minute issues.

COMPLETION (CLOSING) DAY

On completion day itself, legal property ownership transfers to your name. The mortgage amount is provided to your lawyer; they are responsible for paying the seller and completing any necessary documentation.

Step 5. Submit Your Offer-Anna Oliver Buyer's Guide

Download your free copy of Anna’s Buyer’s Guide

Testimonials

Anna was extremely professional in assisting my husband and I relocated from Halifax to Toronto. We only had five days in the city to view listings and select a new home. Anna did a fantastic job of showing us homes within our price range that also met our lifestyle needs. Her hard work did cease until the job was done. I highly recommend her services.

S.K. & M.K.

Anna was a great agent to work with and helped us find our dream home. I would recommend her to anyone looking at moving in or to Toronto. Having an agent that knows the area is important and Anna definitely excelled at that.
J.B. & K.S.

Still Have Questions?

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Feel free to check out our FAQ page with more information for buyers and sellers.