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Buyer's Guide





Dear Home Buyer,


This information is meant as a guide only, always consult a Realtor regarding your specific situation. By the nature and complexity of real estate every transaction is unique.


Rob Johnstone


The majority of real estate transactions take place with the assistance of a real estate agent and for good reason. Working with a professional real estate agent is the most efficient means of shopping for a home and can help make the home-buying process an easy, hassle-free experience. Rob will help you assess your wants and needs to find the perfect match between what you can afford and the home that best suits your preferences.

Committing to working with one Realtor is usually the best. There are several reasons for this: Firstly it will save you time and frustration. 90% of the homes for sale in Calgary are available through the Calgary Real Estate Board; most Realtors have access to this information. By working with several Realtors you will be covering the same ground several times and because one Realtor will not know all the homes that you have seen you will have multiple appointments at the same properties. The second benefit to loyalty to one Realtor is that your Realtor will begin to know your personal style and tastes and will then be qualified to sort out homes that will not interest you.

"For Sale" signs and newspaper ads are not always a true reflection of everything that is on the market. By networking with fellow Realtors quite often homes are sold before the general public is aware. Synergy is one of the benefits of working with the top real estate company in Canada. By taking advantage of the networking within Re/Max, Rob has often times sold homes even before they are exposed to the general market.

Once you have found your home Rob will discuss the different approaches to constructing the transaction in order to best protect and benefit you. Next comes the time to put it all on paper by writing an Offer to Purchase contract. Then the Offer is presented to the home Sellers. With seventeen years of experience and several negotiating courses behind him Rob will go to work for you to arrange your best possible best price and terms. The real estate industry is unique in that the services of Realtor with years of experience costs you no more than that of a Realtor that has been recently licensed. It really is "Buyer Beware" because in Alberta a Realtor can moonlight part-time as a Realtor and does not have to disclose to you that he/she is not a full-time professional. Be careful that you know who is working for you.

A professional agent works for you and respects your opinions. He or she will not to try and force you into buying a home that you are not entirely comfortable with. Rob strongly believes that his job is to supply you with the information you need to make your own decision.

Real estate laws have become increasingly complicated and ever changing. Rob keeps up-to-date with weekly sessions with an attorney.

Rob's services are absolutely free to you as a buyer; commission is paid by the Seller.

For additional information about Rob refer to the





Home Buying Costs



The Offer to Purchase

When you have found your new home, it's time to make an Offer to Purchase. The Offer form is standard and will help lay out the terms and conditions of your purchase. Of course, every purchase is different, and the Offer to Purchase will vary accordingly. Never assume anything when making an Offer - if something was verbally stated and you want that included - make sure it is on the form. Rob has a standard "Addendum" to attach to all Offers to Purchase that will help to close some of the "loopholes" in the standard agreement.

Basic terms include a Completion Date, deposit amount, balance of downpayment amount, a list of chattels included, any exclusions, total price additional terms and conditions. A condition is a "subject to clause" meaning that the Offer is made subject to the Buyer's approval of or being approved for something or possibly the confirmation of a detail pertinent to the Offer. Conditions can be for the benefit of either the Buyer or the Seller although they are usually for the Buyer. Conditions my include mortgage approval, professional inspection or any other of a number of items that may be critical to a transaction. A deposit cheque of $1,000 to 10% of the purchase price will need to accompany your Offer.

Once the Offer to Purchase form is completed, your Realtor will need to present it to the Sellers. It is sometimes best to go and wait in your Realtor's car while the presentation is made. That way, if questions need to be answered you are available immediately. Upon presentation, the Sellers will have a few options. They can accept & sign your offer, they can reject it, or they can make changes to it and return it (make a counter-offer). If they reject your Offer you can decide to find another house or submit another Offer. If they counter your Offer you can either accept the counter-offer by initialing the changes or you could further counter their Offer by making additional changes and sending it back to the Sellers. An Offer can be countered several times before final acceptance but remember that there is no obligation for a Seller to accept or counter they can always reject without making a counter-offer. At any point either party has the right to terminate negotiations, do not change an offer without careful consideration. Once a change is made the Offer is voided and must be initialed to be valid once again.

After acceptance of the Offer your deposit cheque must be deposited to the Listing real estate Company's trust account within 2 business days of the acceptance. The deposit is "earnest money" that will hold the home until you actually move in. If the Offer to Purchase is not accepted, your cheque is returned immediately.

Once you have an accepted offer, immediately follow through on any conditions of the agreement that require action on your part. Conditions have definite deadline dates associated with them, and if you miss a date, you may have to arrange for an extension, which a Seller is not obligated to give. A missed condition date could mean losing the property.

As each condition is met, your Realtor will have you sign a "waiver". This document states that the condition has been satisfied and is no longer part of the agreement. Waivers must be delivered on time, usually prior to 9 p.m. on the final Condition Date.

A copy of the signed Offer to Purchase is sent by the listing company's office to your lawyer immediately after all conditions have been removed. The lawyer will begin the process of structuring the transaction and preparing documents to register you as owners as well as registering your mortgage on the title of your home.




Buyer's Viewing Tips

Finding a house is a transitional decision - being that it is a decision that often has its parameters change as homes are viewed. At the onset of looking at homes it is a good idea to map out your wish list of what you want and what you need in a home. When making this list keep in mind that things like carpet colour, fireplaces, garages, etc. can be changed and/or added in your next home. The more flexible you are, the more selection you will have. Try not to restrict the size of the market you will see by setting too many parameters.

Spend time with your list - discuss it with your Realtor and at this stage be sure to leave it at home when you go to view homes. Yes, leave it at home! When looking at homes you need to have your attention focused on the property, not on your list. Work with your Realtor to sift through the available homes and make appointments at the homes that best meet your criteria. You will most likely find that it is unusual for all of your wants and needs to be met in any one home. While looking at homes it is always best to keep a "short list" of a maximum of three homes. It helps to remember homes by a distinctive feature like "the goldfish house" for a home that had goldfish, or whatever works. When you get a fourth home on your list then you need to choose one to drop - never keep more than three on your short list.

When looking at homes, first try to get a general feeling about the home - could you see yourself living in the house? Does it make it as far as first impressions go? If it isn't up to snuff don't waste a lot of time, just a quick look around is all you need. If things get better as you are looking you might change your mind but often that first impression remains. Budget your home searching time. You are always better off to spend a little more time in a home that you are genuinely interested in rather than in a home you know isn't right for you.

Finding the right home is a huge decision and the fewer distractions the better. Try to leave work at the office and children at home.

When you have narrowed your selection down to just a few, take out the wish list to help zero in on the one home you will buy. It's time to make an Offer to Purchase. Refer to the Offer to Purchase section.




Mortgage Qualification

Select one of the following to learn more about mortgage qualification:




Mortgage Pre-Qualification

A visit to your lender is a smart step to get started with even before you go out to look at homes. Be sure to organize beforehand to make your time more effective. Do some brainstorming and write down any questions that you may have before your meeting. Your loan officer can be a great source of information. One thing you must be aware of though is that this is just what it says it is and no more. It is a "PRE"-approval. The financial institution will only "crunch" the numbers with you at this time and review the actual approval process. The bank usually will not check references or credit ratings until you actually have found your new home and have a signed Offer to Purchase. But pre-qualifying will help to set the boundaries for budgeting for your new home.

Keep in mind that the bank will often lend more money than you are comfortable borrowing. Your true maximum mortgage amount oftentimes is lower than what the lender will offer. Your personal mortgage payment limit needs to be a payment that you will feel comfortable making and still be able to enjoy your lifestyle and meet your other goals.

Request a letter stating what you qualify for. It can be a valuable tool later when making an offer on a property.


Actual Qualification

Once you have an accepted Offer to Purchase contract made on the home you want to buy the following is a list of what you will need for the actual application. The "PRE" qualifying process is only preliminary; once you have found your new home the process becomes more detailed. For the actual qualifying process you will need to work with your lender to complete the application procedure. You will need a letter confirming your employment. This should include your position, number of years with that employer, your prospects for the future with the company and your current salary, wage or anticipated earnings. Photocopies of your T-4 slips for the past few years are also helpful.

Make a list of your assets (cars-even if you owe money on them-stocks, savings accounts, bonds, etc.); include their present estimated value (and location, where appropriate); add up the total dollar amount of assets held.

Make another list of your liabilities (car loans, student loans, credit card balances, etc.); include the current balance owed, name of the party to whom you owe money and account numbers; add up the total dollar amount of liabilities. Subtract your total liabilities from your total assets to determine your net worth. Itemize the source(s) of your down payment, giving account numbers where appropriate. The lender will need to verify that you have these funds before granting the mortgage. If you borrow a portion of the down payment from family or friends, the lender will want to know how you intend to pay back the loan. If there's a payment involved, it may be used in calculating your debt-service ratio and if it has to be paid back it may even eliminate your chances for a mortgage depending on your equity situation. If you purchase with the minimum 5% downpayment the funds must be unencumbered (not repayable).

Come with your social insurance number, chequing account information and contact information for your lawyer. Your co-applicant should bring similar information and be present when you visit the lender to fill out the application. Bring a copy of the listing details of the home you want to buy and a copy of a current survey or Real Property Report, if available. If you have a completed Offer to Purchase, bring it too.

Be sure to tell the bank who your lawyer will be. You want a lawyer looking out for your interests first not the banks. Your lawyer will register their mortgage and be sure title is in order for the bank. You need to tell them so you don't end up paying for two lawyers.

After you are approved personally, the lender will need to verify the value of the house, and will usually need to have it appraised. The appraised value is an independent expert's estimate of the market value of the house. This will hopefully be close to the price you've agreed to pay, but it may not necessarily be the same. When calculating the maximum size of a mortgage the lenders will issue against a property, it will be based on the appraised value or the selling price, whichever is less.


How Your Lender Will Qualify You

(you may also refer to the

Mortgage Calculator)

When lenders qualify you for a mortgage amount they use two ratios that are relative to your income. These ratios are the G.D.S. (Gross Debt Service Ratio) and the T.D.S. (Total Debt Service Ratio). The G.D.S. is 32% of your combined gross pay before any deductions and the T.D.S. is 42% but with the T.D.S. all non-typical outstanding debt payments are subtracted after the 42% is calculated. The final qualifying mortgage payment has two other expenses subtracted from it. These are an estimate of the monthly property taxes for your new home as well as less a heating allowance of $60 to $120 depending on the size of home you plan on purchasing and the guidelines of the lender you are using.

This is how it would work:

Assuming a gross income of $5,000 per month before deductions.


G.D.S. 32%

T.D.S. 42%

$5,000 X 32% =


$5,000 X 42% =


Less Property Tax Est.:


Less Property Tax Est.:


Less Heating Allowance:


Less Heating Allowance:


Qualifying Payment:


Less Charge Payments:




Less Car Payment Etc.:




Qualifying Payment:

$ 1,450/Month

In this case the G.D.S. is the lower qualifying ratio so the maximum payment that the lender would allow would be $1,400 per month towards your mortgage.

From this point interest rates and the amortization period of the loan are the final variables. The amortization is the number of years that it would take to pay the mortgage out completely if the interest rate remained fixed. The term of the mortgage is the length of time the mortgage terms (interest rate etc.) remain fixed.

The following chart shows the mortgage principle amounts that the $1,400 per month would yield based on various interest rates and amortization periods. Interest on mortgages in Canada are calculated based on interest compounding semi-annually. With straight interest calculations, payments will be a bit higher and/or the amount of mortgage that you qualify for will be lower. This payment schedule does not take mortgage insurance fees into account (see Costs of Purchasing a New Home).

Amortization Period


Interest Rates

25 years

20 years

15 years

10 years






















As you can see the interest rate has a dramatic effect on your purchasing power as well as the length of time it takes you to pay your mortgage off (the amortization period). Over 25 years a one and a half percent difference in the rate works out to over $36,000 in buying power. As far as the length of time to pay your home off; as we calculated, if you had a mortgage of $229,361 over 25 years at 5.5% the payment is $1,400 per month. If you kept the payment the same but reduced the interest rate to 4.0% you would have your mortgage paid of five years and three months sooner. Five years and three months times $1400 is a savings of $88,200 that you wouldn't have to pay the bank.




Flow Chart of Typical Real Estate Transaction

Including New Mortgage Financing


Note: This flow chart is intended as a guide and should
not substitute consultation with a qualified solicitor.




Flow Chart of Typical Real Estate Transaction:

Including New Mortgage Financing


1) Buyer obtains mortgage pre-approval.


2) Buyer makes offer to purchase property.


3) Seller accepts Buyer’s offer to purchase.


4) Deposit placed "in trust".


5) Condition removal process: (typical)

i) Confirmation of Buyer approval

ii) Home inspection - - waiver

iii) Appraisal of property

iv) Final Mortgage Insurer approval - - waiver






6) Unconditional offer delivered by Seller’s Realtor’s office to lawyers for Sellers and Buyers.



7) Buyer instructs lawyer how to complete title description.






8) Instructions to prepare mortgage delivered to Buyer’s lawyer.


9) Seller’s lawyer obtains description and prepares transfer for execution by the Seller.





10) Seller(s) execute transfer.


11b) Mortgage documentation prepared.



11s) Transfer of land delivered to Buyer’s lawyer under trust conditions




12) Buyer(s) execute transfer, mortgage and delivers cash difference (balance owing) plus fees and adjustments to Buyer’s lawyer.





13) Balance owing forwarded to Seller’s lawyer.




14b) Transfer and mortgage documents forwarded to Land Titles Office for registration


14s) Seller’s lawyer receives balance owing and holds "in trust" pending completion.



15b) Registration of transfer and mortgage obtained - title is now in Buyer’s name subject to mortgage.




16b) Buyer’s lawyer requisitions mortgage funds and forwards same to Seller’s lawyer "in trust" that any unacceptable title encumbrances be removed





16s) Seller’s lawyer receives mortgage proceeds holds "in trust" pending completion.



17b) Seller’s lawyer advises Seller’s Realtor of release of keys to Buyer. (Sometimes prior to lawyer receiving mortgage proceeds.)



18b) Copy of acceptable title, in Buyer’s name, delivered to Buyer’s lawyer


18s) Seller’s lawyer obtains discharge of encumbrances and reports to Buyer’s lawyer. Pays out Seller’s mortgage if any.




19b) Buyer’s lawyer reports to financial institution


19s) Seller’s lawyer reports to Seller: accounts for funds received and releases funds to Seller.



20) Buyer’s lawyer reports to Buyer.


Transaction complete.



Home Inspection

Buying a house, especially a resale home, without a physical inspection can be like buying a used car without taking it to a mechanic first. A home inspection costs in the $250-$350 range, depending on the size of the home and other variables, but can be well worth the money in peace of mind. Following are some inspection areas that maybe looked at on your own. However, do not attempt any investigations if you are not qualified.

An inspection of a property will take about two to three hours, and the inspector will examine the house from the ground up. This would include heating, air conditioning, plumbing, electrical, appliances, structural components of the roof, foundation, basement and exterior and interior.

However, there are some basic areas that you can check yourself:


Roof - Average Life Spans

Composite shingles

15 - 22 years

Wood shingle

15 - 20 years

Heavy shake

25 - 30 years


40 plus years





9 Big Mistakes That Can Cost You Money When Buying A Home

#1 Using an Experienced Realtor

Home Buyers are sometimes under the mistaken belief that using a Realtor's services costs them money. This can be an expensive mistake. You can have your own REALTOR, a Buyer Broker or Purchaser's Agent, who is committed to using the experience gained through hundreds of successful negotiations for your benefit - at no charge to you! Your agent can be paid from the same commission that the seller's agent is paid from - by the seller.

#2 Working directly with the Listing Realtor

Agency is important to understand. Simply what it means is who is working for whom. The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations. Your Realtor should always explain what the situation is beforehand. If you are not sure whom your agent is working for - ask for clarification. You need to know if information you divulge will be used for the seller's benefit - or yours. Oftentimes you have no way of knowing what a listing Realtor's relationship is to the Seller. A Realtor has to disclose blood relationships but you would never know if the Seller contacted the Realtor from a flyer or if they have been dealing together for years and they are best friends. The Buyer can end up in a situation where they are at a huge disadvantage.

#3 Not Knowing the Market or Having a Pricing Evaluation Completed

Before you make an offer to purchase that special home, you must have a good idea what the market value is to ensure you do not overpay. Your agent can prepare a Comparative Market Analysis showing what similar homes have recently sold for, and the difference between the asking and selling prices. This is the same type of report the seller receives when deciding on an asking price.

#4 Not Trusting the Experts.

Failing to recognize different negotiating styles and strategies can sometimes make or break a transaction. For example; many buyers think that the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on the part of the seller - or worse yet - failed negotiations!

If you have chosen your REALTOR wisely now is the time to trust him/her. Remember, in the real estate business, an agent with many successfully closed transaction costs no more than someone who is inexperienced. That experience could mean a better deal at the negotiating table. Why Use Rob

#5 Failing to have the home inspected by a competent Home Inspector

Many home Buyers will spend as little as a half an hour in there new home before committing to a purchase. A qualified inspector will spend up to four hours going through your property. Inspectors know what to look for and how to look. For a few hundred dollars you could save yourself some major headaches.

#6 Not knowing and understanding the Offer to Purchase contract

It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses, and not understanding how the clauses affect the purchase, can lead to increased costs or a void contract. Clarity is important as well as timeliness. Sometimes a Seller's motivation can change or they might have generated a Buyer that will pay them more. If a condition is not waived on time or not waived properly you could lose your house or end up paying more for it. An experienced Realtor can thoroughly explain the agreement and help you to fulfill your contractual obligations.

#7 Letting Your Emotions Get in the Way

Buying a home is an exciting time and is usually an emotional decision. It is important that those emotions be validated by facts. It is very easy to get caught up in the excitement. An experienced agent will help to balance the emotion with the information you need to make the right decisions. At a time like this objectivity can be priceless.

#8 Failing to be pre-qualified for your mortgage & obtaining a rate guarantee

Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges. A letter of pre-qualification can sometimes mean a lot at the negotiating table, be sure to get one from your lender.

Being aware of these big time mistakes will help ensure you receive best value for your dollar when the time comes to buy your home!




Naturally, exposure to the elements and upkeep affect life expectancy.

Electrical system:

  • Check all of the outlets with an electrical tester.
  • Look for exposed wiring and aluminum wiring.
  • Check the service panel for "tripped" breakers or "blown" fuses.


  • Activate the thermostat to the "on" position.
  • Walk around the house and check the vents for airflow.

Water pressure:

  • Turn on sink and shower taps and flush the toilets.


  • Examine floor areas around the tub and shower for signs of moisture.
  • Check all exposed pipes at joints for visible corrosion, especially at the water heater.


  • Open and close all windows and doors
  • Windows and doors should open and close easily.


  • Look for evidence of ponding, discoloration and sunken elevations.
  • Check gutters and downspouts.

Appliance check:

  • Oven: turn oven to 350 F and check the oven temperature in 10 minutes.
  • Range: ignite burners and smell for any gas odor, or, for electric ranges, check for cold spots.
  • Dishwasher: let it run through a cycle.
  • Other appliances: check garbage disposal, hoodfans, trash compactors, etc.

Use a Qualified Inspector:

Although you may feel ready to tackle many of the items that we have discussed there are areas and specific problem situations where the experience and training of a qualified inspector will be well worth the fee they charge. The following is a list of items to definitely leave for the pros.

  • Furnaces boiler systems & exchangers.
  • Electrical panels.
  • Shake roofs.
  • Aluminum Wiring

This information is not warranted in anyway or is it meant to replace a qualified inspection and should not be used as such. A few hundred dollars spent on an inspection can potentially save thousands. If you are not qualified in building inspection specifically or construction generally you should not attempt a home inspection on your own. Look in the business directory of the yellow pages under Home Inspectors, check with the Better Business Bureau or ask your Realtor to recommend a company.

Inspection Hot Topics:

Three major issues have been under debate in Alberta over the last couple of years. These are Poly "B" plumbing pipe, pine shake roofs and aluminum wiring.

Poly B piping is the medium gray water pipe that thousands of Alberta homes have to distribute the water around the home. As far as Poly B piping goes the problems with this were pretty much isolated to the southern United States markets. The highest degree of failure was in mobile homes where the pipe was often run in the ceiling space. The extreme heat caused the pipe to fail because it became to soft. Rarely have there been failures in Alberta in fact I am told that if Poly B was still available it would be installed in Alberta but it is off the market because there is no U.S. market demand. Since we can't buy Poly B Canadians have switched to the new Pex pipe along with our friends south of the border.

Pine shake roofs are another thing altogether. Because of the humidity that we experience a mold will grow under and in untreated pine shakes. If the shakes were treated originally they seem to be all right but the problem is knowing if they were treated. Apparently, the best way to check is to cut away a portion of the shake and see if there is any green staining below the surface. The green is residue from the treatment that preserves the shake. The tell tale sign of problems is if you notice any black spots on the roof. The mold deteriorates the shake and causes premature failure.

The last issue is that of aluminum wiring. This is generally not a problem; there are thousands of Alberta homes with aluminum wiring. These homes were built in the early to mid nineteen seventies when copper prices went through the roof. If there is a problem it will usually arise at the kitchen receptacles because they tend to get the most use. If you put your hand on any of these and the receptacle feels warm to the touch it should be investigated.




Closing Day

On closing day or possession day usually your Realtor will do a walk-through inspection with you to ensure that everything is all right. Your Realtor should take care of making arrangements for a key and if there are any problems releasing them, he/she should have the lawyers working on it. There are many circumstances that could lead to a holdup; incomplete paperwork, documents not delivered on time or an uncertified cheque for closing costs. (A telephone call in advance to your lawyer will often head-off a moving day nightmare.) If this occurs, hopefully it can be remedied without causing too much inconvenience.

The walk-through is not intended to be as thorough as an inspection. You have bought the home at this point and you are checking to ensure that it is in the same state as when you previously viewed it. Following is a brief checklist of what you should cover:

Walk-Through Checklist:

  1. Turn on dishwasher so it cycles while you see the rest of the house.
  2. Turn on stove burners - let them glow to check for cold spots in the elements.
  3. Turn on hot water to check if tank is heating.
  4. Inspect upper floor of home for problems that were not there previously.
  5. Go back to stove - confirm that elements are O.K. and check oven element and broiler.
  6. Turn furnace thermostat up to check furnace.
  7. Inspect basement and confirm that the furnace is working.
  8. Confirm that all chattels have been left as on the Offer to Purchase.
  9. Confirm that dishwasher has cycled and that there are no leaks.
  10. Turn down thermostat, turn off stove, dishwasher, etc.
  11. Check outside around the perimeter of the house.
  12. Call your lawyer to inform if home is O.K. or if there is a problem.


Your Lawyer

Be sure to select a lawyer properly. Although price should be a factor do not let it rule your decision. You will get what you pay for! I've had clients use bargain basement lawyers and everything has gone fine, but be prepared for minimal service. Usually you will not even meet your lawyer, only his assistant. The assistant often times will point to where your signature is required and that's about it. It can be O.K. if you are very comfortable with the process and if there are no problems. I've found that the large firms definitely have real estate specialists but they usually work only within a narrow field and they are not usually too interested in a home purchase transaction. That is the attraction of a large firm - very specific advice and quality counsel, and believe me you pay for it. Usually the best lawyer is in a small to medium-sized firm and is well versed in real estate transactions. I have several that I use and you are welcome to call or e-mail if you would like my list.

What your lawyer will do...

Your lawyer will contact the Seller's lawyer with any questions or issues regarding title and costs that have to be resolved before closing can take place. The lawyer will also ask you how you want to be registered on the title to the property.

You should contact utilities, phone and cable companies to have services put in your name and confirm that the Seller has arranged for final meter readings. If the Seller has not, notify your lawyer.

Meanwhile, your lawyer will be busy gathering a number of different reports, certificates and clearances from various offices. The lawyer will be making sure that property taxes on the house are up-to-date, and that any caveats or liens (outstanding obligations) registered against the property are satisfied and removed from title. Your lawyer will make sure that what you've agreed to buy is what you'll get - nothing more and nothing less.

Your lawyer will review & verify the title transfer documentation, prepare a statement of adjustments, review other closing information provided by the Seller's lawyer and help you deal with any problems if they arise.

Five to ten business days prior to closing, you'll meet with your lawyer to review and sign the closing documents. Bring certified cheque(s) with you to cover the costs involved. Your lawyer will let you know what the amounts are before your meeting. If your cheque is not certified, it could easily hold up the transaction.

Note: Make sure you arrange for house insurance prior to your meeting with your lawyer. If it is not in place on the closing date, the mortgage will not be funded to complete your purchase.


- More Than One Advance: Due and payable to CMHC as the mortgage funds are advanced. The mortgage loan insurance premium may be added to the amount of the loan. Where provincial sales tax is payable on the CMHC mortgage loan insurance premium, the amount of the tax is not to be added to the mortgage amount. - Single Advance: Payable to CMHC at the time the loan is advanced.Meet Rob.Why Use a Realtor You are about to make one of your most important and largest financial decisions, purchasing a home. My goal with this guide is to help you to become familiar with what lays ahead. We want to help you avoid many of the pitfalls that uninformed home purchasers fall into everyday. Although we try to anticipate your situation it is not possible to foresee everything, you are welcome to call or e-mail with any further questions. I believe that you will make better choices and have more fun by understanding the process. If you choose to call I would very much look forward to the privilege of working with you.




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