Closing The Purchase
10. Add a lawyer to your team
Buying a home involves piles of legal documents You need someone to translate the legalese and ensure your best interests are protected.
Let your REALTOR? market your home
It's time for your REALTOR? to do their thing with a few old-fashioned, and some new-fashioned, marketing tools.
* The "For Sale" Sign
Despite our leaps in technology, the "For Sale" sign continues to be an extremely effective way to advertise. Anybody responding to your sign is a solid lead because they've seen your home with their own eyes.
* Traditional media
Your REALTOR? may choose any or all of the following: classified ads in the newspaper (often with a photo), ads in real estate publications, property listings on cable television and good old-fashioned mail. Neighbourhood mailers can be incredibly effective.
* The power of the Internet
If you decide to have your home listed on a real estate Board's MLS? System, you can also have your home advertised on www.REALTOR.ca, Canada's most popular Internet research tool for residential real estate, and a big reason why over 85% of Canadians who search for a home start their search on the Internet.
* REALTORS? really know how to network
Your REALTOR? is part of an extensive community of REALTORS? who collectively represent hundreds of eager buyers. REALTORS? can call other REALTORS?, who can call other REALTORS?, who can call other REALTORS?.
Ultimately, your home itself becomes a selling tool
* Start with an open house for REALTORS?
A REALTOR? Open House is an efficient way to attract REALTORS? to see your home with their own eyes. If your home is perfect for one of their buyers, you can be sure they'll rush right out and tell them! Your REALTOR? can organize everything and get the buzz started.
* Next, an "Open House" for everybody
Many buyers want to get a feel for your neighbourhood before they start working with a REALTOR?. That's why Open Houses to the public are so important. They usually last a few hours on a Saturday or Sunday, and there are a few simple but important rules to follow.
* Make sure your home looks its finest
Your best buyer may just walk in off the street!
* Lock away valuables
Most folks are decent, courteous and honest, but it's wise to stash away jewelry, cameras and other small valuables. You can ask your REALTOR? to request a name and phone number from every visitor for added security.
* Attend to any hazards
Is there an electrical cord somebody could trip on? Is there a chair that will collapse if somebody actually sits in it? Fix it, or lose it.
* Avoid cooking foods with strong aroma
Almost nobody's dream home smells like smoked herring!
* The best way you can help: Don't be there
You want people to feel relaxed and daydream that your home is their home. This just isn't possible with you there. Go see a movie, or take your pets on a field trip.
* A "lock box" makes it easier to show your home
A "lock box" is a small, secure box that's affixed to your front doorknob. It's a mini safe with a key to your house inside. REALTORS? are given a combination to the lock box, so they can show your home to interested buyers.
Be patient with visits. Hopefully they will lead to a great offer, soon.
11. Close the purchase
Your offer has been accepted and you can't wait to move in But don't break out the bubbly Just yet You have to close the deal Your REALTOR', and lawyer will do most of the closing work, but here's your checklist.
• Immediately begin satisfying any conditions of the agreement that require action on your part. Your REALTOR? can fill out the docun stating that the conditions have been satisfied.
Have your lawyer begin searching title to the property. This can take a while, so make sure you allow ample time.
• Well before closing, get your homeowner's insurance to be effective on your closing date. Your insurance broker will give you a 'bin< letter certifying that you're covered. You can't get a mortgage without this letter! Contact your lender and have them finalize your mortgage documents. Have your lawyer review them before you sign.
• Your lawyer will transfer essential utilities like hydro and water, but you'll have to make sure telephone and cable companies switch services to your name. If you rent, give notice to your landlord or sublease your apartment.
• Begin planning your big move! Where are those cardboard boxes?
• Send out your change of address information and fill out a card at the post office. Contact the Ministry of Transport about changing driver's licenses. Walk through your new home one more time with your REALTOR.
• A day or two before closing, you'll meet with your lawyer to sign the closing documents. Your lawyer will tell you in advance what certified cheques you'll need to seal the deal.
12. Move in Moving day will come sooner than you think, so get planning now.
Moving day will come sooner than you think, so get planning now.
'Closing date' may or may not mean moving date
It may or may not be practical to move in on the closing date. You may not get the keys to your new home until late in the day. So you may want to try and schedule the actual move for a day or so after closing. If you intend to move at the end of the month, contact a moving company or truck rental company now before they're all booked. If you can move mid-week or mid-month, a moving company might cut you a deal.
Go with a reputable moving company
We've all heard moving horror stories. Go with an established, insured mover, so your items are protected.
Pack it yourself, and pack early
Nobody will take the same care you will. Start early and spread it out over many days. Label all your boxes by room so the movers know where to put them, and label anything that's fragile.
Do you really need to take that with you?
A new home is a new lease on life, and a chance to liberate yourself from stuff you simply don't need. If you haven't used it or worn it in the last year, you probably don't need it. Have a garage sale, or give it to charity.
Once you move in
The boxes are mostly unpacked and you're settling in nicely. You will now feel a strange urge to begin making changes and improvements right away. That old carpet has to go, a bigger deck would be great for entertaining... slow down! Take time to get a feel for your new home, and more importantly, your new budget. Take a deep breath and enjoy what you have, your new home.
Moving day will come sooner than you think, so get planning now.
'Closing date' may or may not mean moving date
It may or may not be practical to move in on the closing date. You may not get the keys to your new home until late in the day. So you may want to try and schedule the actual move for a day or so after closing. If you intend to move at the end of the month, contact a moving company or truck rental company now before they're all booked. If you can move mid-week or mid-month, a moving company might cut you a deal.
Go with a reputable moving company
We've all heard moving horror stories. Go with an established, insured mover, so your items are protected.
Pack it yourself, and pack early
Nobody will take the same care you will. Start early and spread it out over many days. Label all your boxes by room so the movers know where to put them, and label anything that's fragile.
Do you really need to take that with you?
A new home is a new lease on life, and a chance to liberate yourself from stuff you simply don't need. If you haven't used it or worn it in the last year, you probably don't need it. Have a garage sale, or give it to charity.
Once you move in
The boxes are mostly unpacked and you're settling in nicely. You will now feel a strange urge to begin making changes and improvements right away. That old carpet has to go, a bigger deck would be great for entertaining... slow down! Take time to get a feel for your new home, and more importantly, your new budget. Take a deep breath and enjoy what you have, your new home.
