The notary plays a critical role in the home-buying process. In fact, not everyone has a notary within reach. There are two ways to find one: by word of mouth or with a few clicks of the mouse.
You will especially feel the need to find a trustworthy notary when comes the time to draft the promise to purchase or complete the transfer of ownership. Yet, a notary can accomplish much more. He* can make your life easier.
If someone gives you the name of a notary, make sure his name appears on the Chambre des notaires du Québec (CNQ) roll. All you have to do is write the first and last name of the notary. If you are looking for a random notary offering his services in your neighbourhood, consult the CNQ referral service. Continue reading →
You’re willing to accept the inconveniences that come with living in a co-ownership property and you are now ready to start looking for units. Be careful! Buying a condominium is not the same as buying a house.
Are you looking for a divided or undivided condo unit? A new condo or an older one? These are two contrasting realities. A new condominium will be more modern. You might even be able to look at the blueprints of the unit under construction and offer a few of your own ideas. In addition, maintenance costs will be lower since the building is brand new. Keep in mind, however, that you will have to deal with a promoter. Sometimes, he or she tends to make last-minute changes without advising the future owners. Proceed with caution. Here is a question you should ask: Will you have to pay a monthly housing charge? If you are the Eco-friendly type, new housing is more likely to meet your criteria than older buildings, since the materials used are more current. Continue reading →
Get to know these four people when buying a home. Assemble your dream team for a winning result.
Whether you’re a first-time homebuyer or getting ready to buy your second or third place, making a move can be exciting. But, it also can be intimidating and a bit overwhelming when you consider the many steps you need to take before picking up your new keys.
Fortunately, it’s a lot easier when you work with professionals who know the ins and outs. So consider reaching out to these four individuals during the home-buying process.
Real estate broker: You may think looking for potential homes is something you can do on your own. However, first-time buyers and even more experienced buyers can benefit from hiring a real estate professional. They can help you find listings that specifically fit your criteria, including listings that may not be advertised, as well as provide insight into the market. Plus, they can help you negotiate things like price, the date you can take possession and any extras you want included like repairs, furniture and appliances.
Lawyer or notary: A lawyer or notary may act as an advocate on your behalf throughout the home-buying process. They will help coordinate everything from drafting and negotiating the contract of the sale to examining inspection reports and mortgage documents. Hiring a lawyer or notary early in the home-buying process can save you time and risk.
Home Inspector: It’s to your benefit to hire a home inspector to look over the home before you buy. A home inspection may cost an average of $450 (may vary by province). But it’s often money well spent, because a home inspector can alert you to issues you may not see on the surface, like problems with the roof, plumbing, electrical, heating or cooling, windows and doors and foundation. Make sure to hire a certified home inspector, ideally with a background in engineering and experience doing home surveys in the area where you are buying.
Mortgage Specialist: Last, but not least, having a working relationship with a trusted mortgage specialist is essential during the home-buying process. He or she can help review your finances and determine a price range that is realistic for your budget, as well as help you decide what type of mortgage is right for your situation and how much you can afford for a down payment.