Finding a Calgary property is now easier than ever as there are numerous web sites that are available other then the REALTOR.ca site that can assist you with your search for a Calgary Condo or Calgary Home.
One of the things to keep in mind when searching for properties when you are working with a REALTOR® is that they are able to assist you with any type of property purchase whether it is listed on the Calgary MLS® system, for sale privately or for sale through a builder.
A Calgary REALTOR® can assist you in many ways. The key is to get them involved in the process right from the beginning. Usually when you are buying new once you have talked to a Builder they will not allow you to have the involvement of a REALTOR® unless the REALTOR® introduced you to the property. Working with For Sale by Owner properties works in much the same way. Most Sellers are happy to work with a Buyers Agent as it makes the process of writing up the contract much easier and the process goes much more smoothly. The key again to get the help of a REALTOR® before even looking at the property.
As for the cost of working with a Calgary REALTOR® in the buying process – it is completely FREE (at least with us it is as we are paid through the Sale proceeds)!
There are a few in our industry who charge an upfront fee for working with them but the majority do not. When you work with a Buyers Agent who does take their role in representing you seriously they will introduce you to the Agency Relationships Guide and ask you to sign a Buyer Brokerage Agreement. This Agency Relationships Guide outlines the role that an associate acting on your behalf is going to undertake. The Buyer Brokerage Agreement is a way of clarifying in writing the Agency Role and responsibilities that both you as a Buyer and your Agent will have to each other.
Check out some tips on choosing a Calgary Buyers Agent.
To search for Calgary real estate you can either set up a search or just simply browse through until you find some that strike your fancy. When you are ready to start looking it is best to narrow it down to your top 5-6 choices. Looking at endless numbers of properties make it really difficult to find just one that suits you and in fact can make the process even more frustrating. Sit down with your REALTOR® and discuss what you are looking for. This is one of the roles of your REALTOR® to help you find that perfect home for you!
So you have checked out the properties you wanted to see and have gone back to view your favourite a second time. This is something that I always recommend to clients before writing an offer especially when we may have looked at properties over the course of a few days. We are now ready to write the Offer to Purchase.
The Offer to Purchase is broken down into a few essential elements:
- Property
This is pretty much self explanitary but one thing that you should find out is what is registered on title that may affect your desire to purchase the property. Your REALTOR® should provide you a copy.
- Chattels
These are all the unattached things that will be included with the sale. Things like appliances, window coverings and garden sheds are covered in this part of the contract. Some things may also be removed by the seller and this should also be noted on the contract as excluded items.
- Price
Price is broken down further from the purchase price to include deposits, amount of financing and any balance that may be owed above the mortage and deposit amounts.
- Possession (Completion Day)
Your desired date to move into your new property. This takes place at Noon on this agreed upon date. It is not a good idea to book the mover right for that time just in case there are delays which can happen.
- Conditions
These will include things that you need to verify before fully committing to a purchase such as Financing, Home Inspection, Condo Document review and can include others that we will discuss at the time of writing the Offer to Purchase.
- Parties to Contract
This will be you and the Seller. The REALTORS® are not part of the purchase of the property but rather only act as representatives.
- Offer Open Until
This is the time that all the terms, conditions and details of the contract negotiation must be agreed upon in writing and signed off on before. If the time lapses the offer is dead and not legally binding. It is important to get things done in a timely manner.
Once all these details are worked out and agreed upon in writing by both parties then the property is considered conditionally sold. From this point we will arrange getting any of the conditions dealt with before their times expire. Some conditions may require an extension to the date if they are not able to be waived in time but the Seller does not have to agree to any extention of time – something to keep in mind. If everything goes well and you are able to satisfy the conditions of the contract we provide written notice before the expiration of the conditions to the seller and the sale becomes firm!
Now it is time to Close on your Purchase.
