“For A Great Move….”

Let us help you every step of the way

When purchasing a home, you are faced with a multitude of decisions! The primary one is whether you are prepared to purchase a home. Locating the perfect home is not always an easy task and obtaining a mortgage loan can be a complex and tiring process. Although, once you have determined that you are ready to move forward with the required effort towards your home-purchasing goal, the rewards are unquestionable.

While at your side each step of the way, we will make the process of purchasing a home easier, more enjoyable, less time-consuming, and less expensive than if you undertook this challenge on your own.

We will help you prepare so that sellers perceive you as a preferred buyer, help you locate and assess properties for sale that match your specifications, and help you through the myriad of details attending the actual purchase.

We are always familiar with the current homes on the market, and know neighbourhood values well, so we can help you determine which properties are fairly priced and in good condition before you start your search.

Your First Step

Your first step to buying a home is to first ask yourself why you want to buy a home: to stop paying rent? To start building equity? To have a place of your own? To raise a family? To entertain business associates? To move up to a bigger house? Next, list what kind of home you'd like and where you would like to be. Be specific. Separate the "must haves" from the "want to haves."

Think of yourself as zeroing in on a target, going from the general to the specific. Consider area

(city, suburban neighbourhood, country); community (north, south, east, or west side); neighbourhood (older and settled or sparkling new; a particular school zone; recreational facilities; and other community services such as transportation, day care, library, stores, entertainment). Ask yourself how many minutes you are willing to commute to work.

Think about home styles. How much space do you need? Does your situation require a one-level home, or are stairs acceptable? Consider size and kind of property. Do you want a newer home, or maybe an older one to fix up? Someday you or your heirs will want to sell. Consider how long you expect to live in this home.

Your Next Step: Loan Pre-Qualification

Once you have addressed the above needs, your next step in the purchasing process is to get pre-qualified with a mortgage company. This can be done over the phone or even online in a matter of minutes.

Call us and we will refer you to a mortgage professional that has an excellent reputation and track record for successfully acquiring loan approval for his/her clients.

We Will Find the Right Home For You

Once you've been pre-qualified and know what price range you want to stay in, we can help you determine which properties fit your needs by using the (MLS) Multiple Listing Service system to locate them.

We have the best possible resources and communication systems available today to help you locate the homes on the market that match your specifications. You can even search our listings here at our website www.macdonells.com.

We Will Help You Every Step of The Way

We will help you complete your financing and inspections, and close on the transaction. Our top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.

Finding the Right Home

Make a wish list of features that are important to you and your family. Here are some of the features you may want to consider:

• Neighbourhood 
• Schools
• Shopping
• Proximity to work, family, and friends
• Old vs New:
• Lot size:
• Family room, home office, etc:
• Number of bedrooms 
• Number of bathrooms
• Fireplace: 
• In-suite laundry
• Garage
• Pets
• View
• Finished basement
• Other

When it comes to deciding on the properties you have on your “short list”, you will find it quite satisfactory to compromise and satisfy the majority of your needs by the elimination of some of the less necessary “wishes”.

Some Costs to a Buyer Before or Upon Completion

Inspection

• To be paid upon completion

Lawyer/Notary

• Searching title, drafting documents, land title registration etc.

Survey Certificate or Title Insurance

• May be required by the bank for home purchase

Cost of Mortgage

• Appraisal, land title registration (you must ask lender for costs)

CMHC Insurance

• This cost is added to your mortgage amount when your down payment is under 20-25% (as this is a sliding scale, please ask lender for exact amount)

House Insurance

• When purchasing a condo, building insurance is covered in your maintenance fee and only personal insurance is needed

Property Transfer/Purchase Tax

The tax is charged at a rate of

• 1% on the first $200,000
• 2% on the portion of the fair market value greater than $200,000 and up to and including $2,000,000, and
• 3% on the portion of the fair market value greater than $2,000,000 up to and including $3,000,000
• 5% on the portion over $3, 000,000
•  If you’re a foreign entity or taxable trustee and the residential property is located in the Greater Vancouver Regional District, you also pay the 20% additional property transfer tax. This tax does not apply to foreign nationals who receive confirmation under the BC Provincial Nominee Program www.welcomebc.ca/immigrate-to-b-c/b-c-provincial-nominee-program.

Property Taxes Adjustment

• The seller will most likely have paid the property taxes for the year, so there will be an adjustment

Moving Costs

• Moving truck, utility transfer, phone, etc.

Top 10 Reasons to Work with a Mortgage Broker

1. SAVE YOU MONEY. Knowing all Lenders products and their fine print will help you save money up front and down the road. With our excellent reputation with Lenders, we can provide you with discounted rates and special quick close options. 

2. LARGE RANGE OF PRODUCTS. With access to over 50 Lenders, that means a large range of products best suited for you, which means availability for self-employed, credit challenged, no down payment, cottage properties, lease land, new to Canada, line of credit, 2nd mortgages and more. 

3. WE WORK FOR YOU. We don’t work for any one bank, therefore there is no doubt that you are getting an unbiased opinion on best choices for your mortgage financing. Even if you have been pre-approved by your Bank, how do you know it’s your best option? You decide which product is best for YOU. 

4. SPEED AND EFFICIENCY. The process is quick and simple, and much can be done over email. All documents will be collected and reviewed to ensure less stress and quick turnaround for approvals. We are available on your terms…not 9-5 bank hours. 

5. OUR SERVICES ARE FREE. The lender pays us a finder’s fee once the mortgage funds. We shop around to save you valuable time and reduce any unnecessary stress. 

6. ONE APPLICATION. Many people inadvertently disqualify themselves from getting the best rate when they are shopping for a mortgage. When multiple banks pull a credit bureau, your credit rating can drop, sometimes eliminating your chance for the best mortgage. 

7. STEP BY STEP. We will walk you through the process of getting a mortgage, step by step, especially if you are a first-time homebuyer, as it can be daunting. You are our top priority. 

8. RATE PROTECTION. Should the rates drop before your closing date, you will automatically get the lower rate and if rates go up, you have the lower rate locked in. 

9. WE APPRECIATE YOUR BUSINESS. We are a referral-based business, it is imperative to us to provide you with exceptional service because we want to assist your family and friends in the future! 

10. ONGOING SUPPORT AND CONSULTATION. We will be in touch for annual mortgage check-ups, before your renewal date, and with important variable rate updates. We will also help plan your mortgage burning party! 

Title Insurance

Title Insurance is an insurance policy that protects you, the homeowner, against challenges to the ownership of your home or from problems related to the title to your home. The policy provides coverage against losses due to title defects, even if the defects existed before you purchased your home. A title defect is a problem with the title which prevents free and clear ownership. There are many types of defects, such as rights of way, encroachments (from neighbouring properties), unpaid liens, etc.

Title Insurance policies protect you for as long as you own the property. It protects against several risks that a solicitor’s opinion on title may not cover. These risks include:

●    Fraud and forgery, including someone taking your title through fraud or forgery

●    Encroachments that would be disclosed by a new survey (for example, a neighbour’s deck being partly on your land)

●    Easements - the right acquired for access to or over another person’s property for a specific purpose, such as for a driveway or public utilities. 

●    Zoning non-compliance (for example, where the property use does not meet the municipal by-laws)

●    Someone other than the homeowner having interest (for example, a previous owner of the property not being discharged from title)

Title Insurance is generally purchased when you buy your home or when you refinance it, although it can be purchased any time after you buy your home. You will only make one premium payment when you first buy the insurance.

Click here to Download our Full Buyer Package