In most cases, nothing! The buyer representative is typically compensated by the listing brokerage for the property once a purchase has been made.
This is certainly advised. A pre-approval will ensure you are focusing your search on properties that are within your affordability range. As well, it will help strengthen your negotiation points, especially if you’re contending with multiple offers in a fast-moving, hot real estate market.
We would be happy to refer you to trusted and reputable colleagues in mortgage financing. Please contact us for this information.
Legal fees will vary depending on your particular property transaction. It is important to budget for these costs so they don’t surprise you at closing time.
Legal fees include title searches, registration of the mortgage, title insurance, deed registration and anything else that may be needed to complete your transaction.
A general rule of thumb is to budget approximately 1.5 to 2% of the value of the home as your closing costs.
The price to offer is generally based on a detailed review of comparative recent sales and our expertise and experience. There are other matters that may be considered including the existence of competing offers. The offer price should protect your best interests while giving you the best opportunity to get your desired property.
Your deposit is deposited in the listing brokerage’s trust account. It is kept there until closing at which point it is then applied towards the purchase price of the property and related costs.
There are advantages and disadvantages to each option. Your decision will depend on your circumstances and personal goals. Contact us and we will be happy to sit with you to come up with a solution that fits your needs and yields the best outcome.