Buyer Package

Home Buyer Package
Courtesy Of:
Omair Ali
647-299-1309
omairali@royallepage.ca
&
Larissa Sarakaeva
647-219-7752
larissa@royallepage.ca
5055 Plantation Place
Mississauga, ON, L5M 6J3
with 17 offices across the GTA
ROYAL LEPAGE REAL ESTATE SERVICES LTD. BROKERAGE

Company Mission Statement
VISION: We are the real estate
experts of choice known for your
service excellence, our integrity,
and our innovation.
SERVICE: We are committed
to providing unparalleled service
that is beyond our clients’
expectations.
INTEGRITY: Honesty, loyalty
and trustworthiness are the
cornerstones of our relationships.
KNOWLEDGE: We believe in
professional development and
foster a culture of expanding
knowledge and expertise.
INNOVATION: We are creative
leaders and the catalysts of
invention in the real estate
profession.
RESPECT: We embrace individualism
and cultural diversity,
and are are greatful to serve
people from all walks of life.
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Company Mission Statement
RUN WITH THE LEADER
Royal LePage Real Estate Services Ltd. is the largest real estate brokerage in
Canada. We 17 local offices and more than 1300 sales representatives in
Toronto, Mississauga and Oakville specializing in local neighborhoods and
diverse property types, this company is firmly a leader in every aspect of the
industry.
ROOTED IN TRADITION
Royal LePage’s roots in Greater Toronto real estate date back to 1913, when
pioneering REALTOR® Albert E. LePage founded the company that would
ultimately become the preeminent name in Canadian real estate. Backed by
the networking strength of the largest Canadian real estate organization,
Royal LePage Real Estate Services Ltd. is the corporately owned brokerage
of Royal LePage Canada. Today, the brokerage embodies the forward thinking
approach of its founder, is always on the pulse of the local market trends and
enjoys a strong tradition of service excellence - a truly unique and powerful
combination.
YOU KNOW YOU ARE IN GOOD HANDS!
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About Omair
Whether you are buying, selling, or leasing a home, you deserve excellent service, and that’s what I’m about! Your
transaction is important and it should be handled with the utmost in sensitivity, timeliness, and careful attention to
detail.
My goal is to earn your business, for the long term. I don’t disappear after your transaction and am always available
to you for assistance, service referrals, and to keep you apprised of your home’s value. Instead of a “quick
deal”, my clients and I form long-term, on-going relationships.
Also, with a background based in Economics and Sales, my clients can count on sound knowledge and experience
backing the advice that they receive. As a full-time real estate professional, I follow the day-to-day market
changes closely and can always be relied upon for the latest information. In Real Estate timing is key and working
with a Realtor who knows the market is your key to a successful transaction.
Finally, I am not some out-of-area Realtor. I grew up in the Greater Toronto Area and I know the specifics of the
region and its neighborhoods very well. My local presence in the community provides me with an in-depth knowledge
of the local real estate market and allows me to be highly responsive to your needs.
My specialties are residential home sales and purchases, leases and various income properties. Call me for
information on single-family homes, condos, town homes, estates, and foreclosure properties in the GTA.
I take every opportunity to ensure the real estate ownership process is easy, efficient and
enjoyable for every client, in other words YOU!
Give me the opportunity to earn your business!
Omair Ali
647-299-1309
omairali@royallepage.ca
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About Larissa
As a Realtor® that you will want to return to again and again whether you are a buyer, a seller, or an investor,
my goal is to provide the type of service that is not only applicable to the transaction at hand, but one that will
make me your Realtor® for life.
With years of experience in the field of marketing and economics and as a graduate of University of Toronto, I
have decided to use my knowledge, research, marketing, communication, and negotiation skills in the field of
real estate. I use all of these skills in order to gather and convey market information to you in order to facilitate
and help you make informed decisions about your transaction.
By using my ability to focus and “cut through the clutter”, I tackle important issues with precise clarity. My ability
to visualize the big picture and the goals of my clients, while at the same time handling the minor steps in
between is one of my biggest strengths.
Clients also appreciate my natural enthusiasm and energy, as well as the ease and clarity I bring to their transaction.
And in a market that is constantly changing, honest and unbiased advice that stems from latest market
information are some of the most important tools your real estate agent can provide in order to help you make
the right decision.
You can always expect excellent and reliable service and advice you can trust!
Larissa Sarakaeva
647-219-7752
larissa@royallepage.ca
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Something to Consider
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ROYAL LEPAGE REAL ESTATE SERVICES LTD. BROKERAGE

Historic Sales Data
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Client or Customer?
We can represent our clients in three ways:
Agency Relationships
Buyer's Agent: During the home selling process we represent you, the buyer. As a buyer's agent we will
represent your best interests by monitoring the transaction from start to finish: meaning that a buyer's agent
works solely for your best inter-
Seller's Agent: As a Seller's agent We Will represent your interests by taking care of your specific needs and
providing full disclosure to the seller.
Dual Agent: As a dual agent we will represent both the buyer and seller at the same time, being responsible
for the best interests of both parties. It is important to choose an agency relationship that represents your best
interests.
Why Use An Agent?
He/she knows real estate values in your neighborhood and will help price your home competitively by preparing
a market analysis of homes that have sold, competing homes that are still on the market and homes that
were on the market but didn't sell.
He/she will establish a marketing strategy for your home, ensuring that it's exposed to as many potential
buyers as possible.
He/she takes care of the tasks involved in selling a house, ensuring that the transaction is simple and low
stress for you.
He/she is an expert in the home selling process and will advise you of your rights, options and obligations.
He/she is an experienced negotiator and will work for you to get you the best possible price.
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The Offer Process
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Mortgage Terminology
Agreement of Purchase and Sale:
A legal agreement that offers a certain price for a home.
The offer may be firm (no conditions attached), or conditional
(certain conditions must be fulfilled before the deal
can be closed).
Amortization Period:
The amount of time over which the entire debt will be
repaid assuming the same Interest rate. This is normally
25 years for a new mortgage.
Appraised Value:
An estimate of the market value of the property.
Closing Date:
The date on which the sale of a property becomes final
and the new owner takes possession.
CMHC Insurance Premium:
Mortgage insurance insures the lender against loss in
case of default by the borrower. Mortgage insurance is
provided to the lender by CMHC and a premium is paid
by the borrower.
Conventional/High-Ratio Mortgages:
A conventional mortgage is one that does not exceed
80% of the purchase price or the appraised value of the
property, whichever is less. Mortgages that exceed this
limit must be insured against default and are referred to
as high-ratio mortgages.
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Home Equity:
The difference between the price
for which a home could be sold
(market value) and the total
debts registered against it.
Interim Financing:
Short-term financing to help a buyer bridge the gap
between the closing date on the purchase of a new
home and the closing date on the sale of the current
home.
Mortgagee and Mortgagor:
The lender is the mortgagee and the borrower is the
mortgagor.
Mortgage Pre-Payment:
As defined in the mortgage agreement, this gives the
mortgagor an opportunity to make special payments
over the regular payment schedule.
P.I.T:
Principle, Interest and Taxes. Together, these make up
the regular payment on a mortgage if you elect to
include property taxes in your mortgage payments.
Porting:
A feature of some mortgages that Iets you keep the
actual interest rate and remaining term you have on the
outstanding balance of your current mortgage, if you
move. Any additional money that your borrow will
receive the current rate in effect at that time for those
funds.
Pre-Approval:
A pre-approval gives you the confidence you need
when making an offer to buy a home. lt lets you know
how much you could reasonably borrow and allows you
to focus on properties In your price range. A preapproval
also gives you an idea of what your payments will be
and guarantees an interest rate and term for a set
amount of time.
Principle:
The amount of money borrowed for a new mortgage or
now owing on an existing one.

Price vs. Activity
Definition of Market Value
Market value is the highest
price estimated in terms of money
which a property will bring if exposed
for sale on the open market and
allowing a reasonable time to find a
purchaser who buys with the knowledge
of all the uses to which it is
adapted and for which it is capable of
being used.
Frequently it is referred to as the price
at which a willing seller would sell and
a willing buyer would buy, neither
being under abnormal pressure.
Some Things to Keep in Mind
- Well priced properties generate immediate
interest among agents and buyers
-If the price is too high that excitement never
happens
-Dropping the price later does not generate
the same type of enthusiasm
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Buying With A Realtor®
Finding the right REALTOR®
You want to the right home, in the right location, at the right price - and you want to do it quickly, with minimum hassle. The best
way to do that is to work with a "Fulltime" Professional Realtor® who understands your wants and needs, your time frame and
your financial boundaries.
Why shop with a REALTOR®?
You'll save time. A Realtor® can pinpoint homes that fit your needs and dismiss those that don‘t.
You benefit from an experienced negotiator. Your Realtor® will manage your offers and counteroffers, ensuring that you get the
best possible price for your home.
You'll get the up-to-date, right information. Your Realtor® knows the neighborhood and can give you accurate information on
local real estate values, taxes, utility costs, services and amenities.
You can always count on great advice. Because your Realtor® is familiar with the entire home purchasing process, he or she
can advise you of your legal and financial options, and recommend appraisal, home inspection and contracting services.
You get the above valuable services of a Realtor® when a Buyer Agreement is signed. However, if you do not wish to sign an
agreement, we can still service you as a valued customer and a "Service Note" can be used instead to clearly define the
responsibility and position of the Realtor®.
Choose a REALTOR® who meets and understands your needs
Here are a few questions to ask yourself to determine if the Realtor® is right for you:
Will the Realtor® be representing in my best interests?
Does the Realtor® have access to MLS information?
Will the Realtor® be able to provide market evidence to support the price?
Will the Realtor® look after all my closing and possession details?
Can the Realtor® be contacted at any time of the day/night? Is he or she a "Full time Professional"? If he or she is not, ask
them "Why not"?
Working with a REALTOR®
As a home buyer, you must Work with your Realtor® to find the home that's right for you. Communication is key - tell your
Realtor® what you want, and be specific.
Offer a detailed description of your property needs and wants. If you will absolutely not consider a house without a hardwood
floor, say so.
And if air conditioning is a "nice to have" rather than a "must have," communicate that, too.
Be specific about where you want to live. If you refuse to live outside a certain area, it might take longer to find you a home, but
your Realtor® will know not to waste your time with anything not in your chosen neighborhood.
Tell your Realtor® what you can afford. He or she can help you get a pre-approved mortgage
from an experience mortgage broker now base on your price range.
Communicate your likes and dislikes for each property you see. It will help your Realtor®
narrow down the possibilities.
Commit to ONE Realtor®, he or she is your partner in the home buying process.
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Respect and perform the terms of the Purchase/Sale and Buyer agreements. Keep an open
mind. Realtors® know about those charming little areas that you‘ve never even heard of. You
might your dream home in a completely unexpected place.

Buyer Net Sheet
Purchased Price of New Home $ Remarks/Notes
COST
Deposit
$
Amount varies
Legal
Costs (varies/approx)
$
Title Search, Obtaining Tax Certificates, Utility Arrears Certificates,
Sheriff’s Certificates, Building, Zoning Compliance Reports, Subdivision
Compliance Report, Status Certificate (for Condominiums), Couriers,
Photocopies, Mail, Fax etc.
Adjustments (various/varies)
$
Pro-rated: Property Taxes, Mortgage Interest Adjustment, Utility Bills,
Mortgage Insurance
$
Condominium Fees etc
5% down @2.75%
(applies with less than 20% down)
10% down @2.00%
13% HST on Mortgage Insurance Fees
$
15% down @1.75%
20% down @1.00%
Appraisal for Mortgage Insurance (approx)
$
Amount varies
Land Transfer Tax
$
Land Transfer Tax
$0-$55,000 @ 0.5%
$55,001- $250,000 @ 1.0%
$250,001-$400,000 @ 1.5%
$400,001 or more @ 2.0%
T otal
$
C ondo Elevator Booking Fee (approx)
$ -
Amount varies
Home Inspection
$
Amount varies
Home Insurance
$
Amount varies
Moving Cost
$
Amount varies
Miscellaneous
$
Amount varies
$
-
-
Mortgage $ Mortgage will be based on amount of $
Plus Deposit $ -
@3.99% closed/5 yrs, amort 25 yrs, mthly P&I = $
Plus Equity (savings, RRSP etc) $
Plus: Insurance $
-
Final Purchase price of Home $
-
Approx Closing Cost (2.0% of Pur/Price) $
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Tips for Buying
Buying a home can be an emotional, time-consuming, and complex process. There are a few things
that you can do to help make the process go as smooth as possible:
1 . Check your credit.
Before you apply for a home loan, regardless of your credit, it‘s a smart idea to obtain a copy of your
credit report from one of the major credit bureaus and review the information. If there are errors or things that
need to be addressed, it‘s easier to address them before you have found a house, than after you have found a
house and are trying to close your loan.
If you know that there are a few blemishes on your credit, let your lender know what they are, why they
are there, and why you are still a good credit risk. Lenders look at your credit to determine how likely you will pay
back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that
they understand that it is not likely to happen again in the future.
2. Get approved before you buy.
An approval means that a lender has reviewed your credit history, verified your assets and employment,
and has approved your loan before you have found a home to purchase. As long as the home appraises for at
least the purchase price, the loan should close.
Getting approved also gives you an advantage over other buyers. Your approval makes it easier for you
to negotiate on the price of a home, than a person who is not approved or is pre-qualified.
While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. It’s
having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and
getting an approximate payment calculated. From the payment, the calculator can approximate the house price
range that you can afford. No information is verified. Because your assets, income or credit is not verified, a
pre-qualification has little value when purchasing a home.
3. Find a great buyer's agent.
Traditionally real estate agents represent the sellers in a transaction. When you are not working with a
buyer's agent, they are less likely to negotiate the best price or contingencies for you. When you signed a Buyer's
Agreement with any Realtor®, you are hiring a buyer’s agent and a buyer's agent's job has fiduciary responsibility
(meaning legal duty) to you, the buyer.
This means that if you are unhappy with your buyer’s agent, and provided that you had given the agent a
fair time to remedy any failures or dissatisfactions, you can actually fire them.
Before working with any Realtor®, establish if they are a buyer‘s agent or a seller's
agent. After spending a lot of time with a Realtor®, it's natural to feel like you're a
team. But if they are not negotiating for you, then they are not on your team.
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4. Protect Yourself.
Ask your Realtor@ for a copy of the documents you will be asked to sign if
you decide to buy the house. Read them ahead of time so that you'll understand
the questions that you will be asked, the things you need to know, and the decisions
you will need to make.

Tips For Buying
5. Learn about the neighbourhood.
Often times the house you find may be in a neighbourhood that you're not familiar with, which is ok. It just
means that you'll have to do a little more research. If you find a house that you like, ask for a list of the neighbourhood
properties that sold in the last year. How does your home rank? Is it at the top of the price range? If so, it
might be hard to resell. Is it average or on the low end? If so, great - as the other home prices go up in value, they
will pull your home's value up as well.
Check out the schools - are they sought after? A good school district means your neighbourhood will
always be valued by families which are a great reassurance to purchase, not to mention the value added if you
have school age children.
You can also call a local police station and ask to obtain crime statistics. Are they acceptable to you? Talk
to the neighbours. The more people you talk to, the better sense you will get of who makes up the neighbourhood
and how they will affect your time spent in it.
Check out the location of the shopping, police and fire stations, schools, and air traffic overhead. These
are all things that might affect your property value or quality of your life.
6. Have reasonable expectations.
There is a lot of money at stake, however no house is perfect. Understanding and remembering this
statement will help diffuse the negotiation stage, the inspection stage and the closing stage.
Emotions are high for both buyers and sellers. The seller may have loving memories and years of sweat
equity in the house. Maybe they are being relocated and don’t want to go. Understanding their motivations for
selling will help you appreciate their situation and predicament during these emotional times.
There is a lot of money at stake for all the parties involved (and that includes the Realtor®) - Just remember
that market value (the value of a home) is the price that a willing buyer and a willing seller can agree to. If you
cannot agree on a price, ask yourself: Is there something you missed? Are there comparables that support the
price that they want? Are there motivations that might factor into the price they are asking? In the end, does it
matter? What is the house worth to you today and what do you think you can reasonably sell it for based on the
amount of time you plan to spend in it? Think about the answers to those questions before you make your move.
No house is perfect- Always get an inspection. It might be a few hundred dollars, but it's worth it. It’s the
inspector’s job to any problems with the house that could cost you thousands to repair down the road. Some
inspectors have a tendency to over play the importance of their role and the items that they find. Get objective
opinions that you trust before making a decision based on an inspection
report. Likewise, if an inspector says a foundation is cracked but it’s nothing
to worry about - get a second opinion. Ask a handyman
for an idea of how much repairs will cost and how
complicated they are.
The home buying process is an emotional,
complex and time-consuming process,
but it is worth it. Nothing compares
to owning your own home in a
neighbourhood that you chose.
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Moving Checklist