PURCHASING A HOME
Whether you are buying or selling a property, it all starts with your Agreement of Purchase and Sale. We can not only help you with your closing, but any steps along the way. While buying and selling a home can sometimes be stressful, we are available to help you make it a pleasant experience. Below are some frequently asked questions:
1. Do I need legal advice before signing an Agreement of Purchase and Sale?
No, but we would always recommend having your agreement reviewed by a lawyer before signing on the dotted line. In other cases, for example when purchasing a condominium, you will definitely want to have a lawyer review your status certificate.
2. How long does the whole process take?
It depends, but we work based around the closing date in your Agreement of Purchase and Sale. In the event you have a very strict closing date, we are able to help even in the greatest of emergencies.
3. Is there a difference between a new build and resale closing?
Yes. A new build will have different considerations that a resale property might not, including an occupancy date. We can help guide you through this process.
4. If I am purchasing, is a mortgage mandatory?
No, although most Ontarians do secure a mortgage because it is difficult to finance a purchase exclusively in cash.
5. What is refinancing a mortgage?
In short, it is the process by which you secure a new loan in order to pay off your old mortgage. Home owners can do this sometimes when an interest rate is particularly low, or if they want to decrease their mortgage term.
If you have any additional questions regarding your real estate closing, let us know and we would be happy to assist you, whether in person or virtually. To inquire about our fees, please contact us.