Your Team

Real Estate Representatives
There is no charge to you if the real estate representative takes his or her commission from the vendor. If, however, you wish a salesperson to act exclusively for you, there may be a cost involved. A real estate representative can also assist you in making an Offer to Purchase. Representatives are aware of current market conditions, what price offers are realistic and what conditions to include in any offers. A good way to start looking for any professional is to ask for referrals from satisfied friends.
Appraisers
The appraisal should include an unbiased assessment of the property’s physical and functional characteristics, an analysis of recent comparable sales and an assessment of current market conditions affecting the property. This information provides you with an expert second opinion as to the property’s market value.
Lenders
The key to finding the right lender is to shop around. Many different institutions lend money for mortgages, including banks, trust companies, credit unions, insurance companies and finance companies. It will save you money to speak with more than one lender in each category because the terms and options of each will vary.
Mortgage Brokers
Brokers are independent, which means that they are not affiliated with any specific lending institutions. Their role is to find the lender with the terms and rates that will best suit you.
Lawyers / Notaries
Your lawyer will review any contracts you need to sign especially the Offer to Purchase. If you make an Offer to Purchase that is accepted, your lawyer will be responsible for many of the closing arrangements. Lawyers’ fees range widely and depend on the complexity of the deal, but will probably cost a minimum of $800 plus disbursements.
Home Inspectors
Home inspectors will go through the property and perform a comprehensive visual inspection to access the condition of the house and all of its systems. They will determine the components that are not performing properly as well as items that are beyond their useful life or are unsafe. They will also identify areas where repairs may be needed or where there may have been problems in the past. Inspections are intended to provide the client with a better understanding of the property conditions, as observed at the time of inspection.
Insurance Brokers
Lenders insist on property insurance because your property is their security for your loan. Property insurance covers the replacement cost of your home, so premiums vary depending on your home’s worth. Your lender may also suggest that you buy mortgage life insurance. This may be available through your lender, who then simply adds the premium to your regular mortgage payments. Don’t confuse property or life insurance with mortgage loan insurance which may be required for high - ratio mortgages.