Buying a new home can be very exciting, but can also often be an overwhelming experience. Since our market is currently hot and rapidly changing, it is crucial to have a REALTOR® by your side to help you navigate buying your dream home. With his customer-centered approach, love for the city, and commitment to exceptional customer service, James will most certainly be a great asset to you on your home buying journey.
THOROUGH BUYER’S CONSULTATION
As this is a crucial step in the buying process, James will be sure to fully understand your wants and needs and to make sure that you understand both the process and the significance of each decision you make and each document you sign. He offers a free consultation to all potential buyers so that you have all of the knowledge needed to succeed.
DAILY LISTING ALERTS
As part of his duty to promote each client’s best interest, James will set you up with daily listing alerts so you do not miss out on any listings that may interest you in your preferred area. He can narrow these listing alerts in price range, area, number of bedrooms, bathrooms and more to make sure you receive the most relevant listings to your situation, without filling your inbox.
PROFESSIONAL NEGOTIATION AND DOCUMENT PREPARATION
When you work with James, he will ensure that your sale is successful and that he negotiates the best possible terms. He takes care of all the finer details, including but not limited to, preparing legal documents, meeting deadlines and ensuring you have everything you need for a successful sale, so that you, as the client, do not have to think twice.
When working with James to find your property, you’re choosing to work with a REALTOR® that will make you his priority. Available for all of your questions, he will always be working diligently to help you find what you’re looking for.
RE/MAX – A GLOBAL BRAND
In order to ensure a successful property purchase, James has more than just Real Estate Agents working behind the scenes. He is backed by a solid team at a Globally recognised Brokerage that is prepared to assist in every area of the home buying process, and that has all the tools necessary to provide you with exceptional service. So, when you work with James, you instantly have easy access to the best of the best in all areas of homeownership.
HOW TO BE PREPARED & WHAT YOU CAN EXPECT IN A CONSULTATION
Before you start thinking about your finances or even consider searching for a home, you need to know if you’re ready to buy. Talk to your family and friends, especially those who have been through the homebuying process as well. In addition to moving to a new place, you should anticipate that you’ll be owning the property you buy for a number of years. When things get stressful, having a clear idea of why you wanted to own this home in the first place will help you power through to the finish line.
Once you’re ready, start by outlining what you’re looking for in your new home. Make a list of your priorities and preferences. Many people now require a home office as a result of the pandemic, but remember to think long term. If you anticipate that you’ll be going back to the office in the next few months, you might prioritize commute time over additional space. This is the time to start monitoring the market so you can get a sense for what’s available in your area. So take a drive! Get a taste for what you like and which neighbourhoods you might prefer. You may also think about the features you’d be willing to compromise on.
2. How much house can I afford?
● Find Out Your Credit Score
Your credit score assesses your financial history and your current debt to calculate a number between 300 and 900. It is used by lenders to determine how much you can borrow and how much interest you’ll pay on the loan. If your score is low (less than 600), you will have a harder time getting approved for a mortgage. But the good news is there are steps you can take to improve your score. Monitor your credit score until you’re in a good position to buy, and find out how much you may be able to afford based on income, savings, and debts. In general, the higher your credit score, the lower your interest rate will be.
● Track Your Monthly Budget
Set yourself up for success by tracking your current monthly budget. By incorporating good budget habits now, you’ll be in a better place to manage your mortgage payments. Include all your fixed expenses, like rent, utilities, and child care. Make sure to count the other variable expenditures, such as ordering takeout, impromptu Amazon orders, and coffees. You may be surprised at how quickly your spending adds up.
● Calculate Your Down Payment
Calculate your down payment so you know how much cash you’ll need to save. Don’t forget to also consider closing costs, which are the additional fees and taxes to actually close on your home.
● Plan Your Finances
When you’ve got a target savings goal in mind, spend a little time putting together a plan to get there, whether that’s a monthly savings target or a plan to sell your current home. If you’re not sure how to save for your home, work with a professional Financial Advisor who can help you put together your personalized plan.
3. How do I get preapproved for a mortgage?
James can give you a list of mortgage specialists to help you with your home financing needs, including pre-approval. Pre-approval is a statement of how much money a lender is willing to loan you for a house and is determined by your financial situation, like income, debts, and credit score. You’ll want that preapproval letter when making an offer on your home so the seller knows you’re able to secure the amount of money you’re offering.
4. How to find the right home?
Once your finances are in order, it’s time to start touring homes with your agent. Many homebuyers are surprised how quickly their markets move, so to stay on top of this, James Cameron Real Estate will be sending you real-time updates of new properties on the market.
When touring a home, don’t be afraid to take your time. James can help you identify any hidden damage or features that may be in need of repair. In the last year it has become more common to tour homes virtually, but you can still ask all the same questions if this is the option you choose.You may also want to drive through the neighbourhood or walk around the block to get a feel for the area.
5. How do I make an offer on a home?
When you find the right home for you, you’ll work with James to craft your offer. He will look at recently sold homes in the neighbourhood to help you determine a fair offer price. Then he’ll negotiate directly with the seller and their agent on your behalf. You’ll also want to work with him to find a real estate lawyer who will review any documentation and investigate the property before you purchase.
6. What do I do once my offer has been accepted?
Hooray, your offer was accepted! Now it’s time to take a closer look to make sure there are no surprises before the home is yours. James can help you find the right home inspector to do a thorough review of the property and provide you a report on the state of the home. If there are any big surprises, you may have the opportunity to renegotiate the sale price.
7. How do I finalize my home financing?
Once you’ve found your home, you’ll go back to your lender and finalize your loan. This means submitting records like pay stubs and bank statements for a thorough review of your finances. You’ll also need to calculate the final closing costs of the mortgage so you know how much cash—in addition to your down payment—you’ll need to close on the home.
8. How do I close the deal?
The hard work is almost done! Before your closing date, you’ll do a final walkthrough of the home with James to make sure the house is as stated – meaning it’s either the same as when you made an offer, or that any agreed-upon changes have been made.
On closing day, you’ll sign the documents to put the home in your name, agree to mortgage terms, and verify homeowners insurance. Your mortgage provider can walk you through any specific documents for your market as well. When the singing is done, you’ll get the keys to your new home!