Sage Advice on Building a Trusted Home Buying Team

Gathering a Trusted Home Buying TEAM!

These are the people that will look after your interests in the biggest transaction of your life.  Spend some time to search out the best fit for you.

Real Estate Agent
That’s easy – pick up the phone and call us at Sage Executive Group.  Chances are – if you’re reading this blog  - that you’ve already made that step.  Congratulations! Your team is starting to form up!

Mortgage Rep
Odds are you’ll need a mortgage to finance this operation. Shop around a little and explore your options. Remember to ask about the flexibility of the product you are considering. Start with these important questions.

• Is the mortgage portable? (transferrable to another property if you move before the term is up)
• What are the penalties if I sell and don’t buy another property before the term is up?
• Can I make lump sum payments throughout the term?

The rate is important, flexibility is too. Decide if you want to use a Mortgage Broker or a Mortgage Rep from a bank. Talk to both and compare the products and services they offer. Basically shopping for a mortgage is important and you won’t regret spending some time finding a good one.

Lawyer
This deal isn’t going to close itself! You need a lawyer. Do yourself a favour and use a Kelowna lawyer that deals with real estate. This is especially true for stratas. Strata documents are complicated and you need a lawyer who is familiar with them. They will know what the red flags are and what’s not such a big deal. Lawyers handle the nitty gritty details, mainly the following:

• Ensures your rights and interests are protected in the various contracts
• Makes sure you will have valid title to the property
• Investigates if there are any claims registered against the property
• Calculates the amount of Land Transfer Tax (and any rebates) payable at closing
• Calculates adjustments to compensate the seller for prepaid fuel, taxes, bills etc.

Insurance Rep
Insurance is boring, we know, but you still need it. You must have home insurance in place starting the day the deal closes. Shop around for rates and consider bundling with auto or recreational vehicle insurance for better deals.

We are happy to help!  Find out more about Kelowna Real Estate!