Your Home Buying Team

REALTOR®

Finding a home to purchase is a big job and a REALTOR® can make it a lot easier.

The role of the REALTOR® is to help you screen available properties, identify those that most closely meet your requirements and arrange for you to view them. Ideally, your REALTOR® is more than a sales representative. The top sales representatives help provide you with listings AS SOON AS POSSIBLE, because we all know that the Good Deals go quickly. He or she should serve as a resource person who can provide valuable advice and help you make an informed purchase decision. They will also help you with your offer, if they are a buyer’s agent working for you; they help negotiate the offer in the BEST terms for you the homebuyer.

The Realtor®:

  • Is a certified real estate agent who keeps tabs on the latest properties by tracking the Multiple Listing Service (MLS) and other sources.
  • May also be acting as agent for the seller when the property is an MLS listing. However,  if you have already engaged the realtor as your agent, then he or she will act specifically and contractually in your best interest. This is known as Buyer’s Agency.
  • Negotiates terms and conditions of your purchase with the seller’s agent or with the seller directly (of a private seller or their own listing).
  • Commission is paid by the seller out of proceeds of the sale. Usually it is split between the buyer’s agent and seller’s agent, if both agents are involved.
  • Arrange to get information for you, or for certain conditions to be fulfilled, as agreed with you –i.e. survey, appraisal (for mortgage purposes), and a home inspection report.

Brent Foley B.A.,

President/Broker of Record at TFG Realty Ltd.
Office: 905-240-7300      Email: bfoleytfg@gmail.com

 

Lawyer

Your lawyer makes sure that the property you purchase is legally yours and comes with no strings attached.

When you buy property you are not just buying the land and building, you are also buying the legal rights of ownership so you need to be certain that no other party has a claim to them. Your lawyer will confirm that there are no legal obstacles to your purchase and help it proceed smoothly.

The Lawyer:

  • Conducts a title search to ensure that the seller is the true owner of the property, makes sure that the current or proposed occupancy usage conforms to local by-laws.
  • Obtains all necessary documentation including:
  • Compliance Letter acknowledging that no outstanding liens (legal claims) or work orders are in effect.
  • Tax Department release verifying that property taxes are up to date
  • Handles the transfer of ownership from seller to buyer and the registration of the mortgage on title.
  • Ensures arrangements are in place for funds to be available for closing.
  • Coordinates with lenders the setup of legal documents for any mortgage security.
  • Ensures that all mortgage terms and conditions are met, and that title is clear in order to make undertaking to lender(s). May obtain title insurance on your behalf if there is any issue surrounding title that may cause a claim or work order of some kind in the future.
  • Arranges with you the signing of legal documents and submission of remaining funds not provided by the Mortgage Lender(s).
  • Coordinates closing of the purchase transaction with the lawyer(s) for the seller of the property.

Recommended Lawyers

Laurie Aitchison
Aitchison Law Office

Tel: 905.581.4296    Email:  lauriea@alolawyers.com

 

Kelly Aitchison
Aitchison Law Office

Tel: 905.581.4296   Email:  kellya@alolawyers.com

 

James Aitchison
Aitchison Law Office

Tel: 905.581.4296   Email:  ellenl@alolawyers.com

 


Mortgage Lender

The mortgage lender is the financial backer in your real estate venture.

In today’s mortgage market it pays to shop around because there are many lenders and different financing options available. Save yourself the time and trouble. Sit back and let a Mortgage Broker find a lender who will give you the best rate for the best product to suit your needs. As the party providing the funding, the lender will want to be sure that you are a worthy credit risk and that the mortgage(s) you are requesting corresponds to the value of the property you intend to purchase.

The Mortgage Lender:

  • Sets out the legally stipulated lending criteria that you need to meet to qualify for a loan.

Recommended Mortgage Brokers

Judy Stinchcombe, Mortgage Agent

Tel: 905-579-3515
Email: judystinchcombe@rogers.com

 


Appraiser

Appraisers assess property value for the lender. When you purchase a property it’s important for the lender to be satisfied that the price reflects the property’s true market value. An appraiser is an officially accredited valuator who is hired to conduct an inspection of the property for the lender to assess and certify its value.

The Appraiser:

  • Provides the lender an accredited opinion about the market value of the property (to be) purchased, which can be compared to the purchase amount.

Home Inspector

The Home inspector acts as your extra pair of eyes, able to see things about a property that may not be visible to you. If you are buying a resale home, it’s always advisable to have it checked by a Home Inspector as a condition of purchase. This individual (not requiring provincial licensing in most cases) will inspect the property for major deficiencies, which may not always be apparent. The results are presented in a written Home Inspection Report.

The Home Inspector:

  • Identifies the soundness of the structure and any improvements that have been made.
  • Notes any specific deficiencies and their impact on the value of the property.
  • Estimates the cost to correct any identified deficiencies.

Recommended Home Inspectors

John Flynn, Global Home Inspections

Tel: 905-242-2478    Email: gpijohnf@yahoo.ca
http://www.gpiweb.ca/flynn/Home/tabid/3965/Default.aspx

 

Darren Arseneau, Durham Home Inspection

Tel: 905-925-5892   Email:  darren@durhamhomeinspection.ca
http://www.durhamhomeinspection.ca/

The Foley Group

  • Head Office 319 College Avenue
    Oshawa, ON, L1J 3S2
  • Phone 905-240-7300
  • Fax 905-571-5437
  • Contact Us  

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.

Toronto Real Estate Board - IDX Last Updated: 6/27/2017 7:00:27 AM