Master: Buying A Home Made Simple
Let's Get Started!
To ensure your search is accurate and nothing important is overlooked - before our consultation and getting your search portal set up, we will need to go over some key details. There is a link to a questionnaire below, that once completed, will give me the necessary insights to serve you best. Additionally, I find that this is a great opportunity for you to sit down and thoroughly evaluate your criteria for purchasing a home.
Buyer Strategy Questionnaire
Please take 10-20 minutes to fill out this form so I have all of your information I need to prepare for next steps.
Buyer Consultation
Once the questionnaire form is completed, we will schedule a (virtual or in person) meeting to go over the following:
Discussthe answers you provided, walk through what you can expect throughout our time working together, and discuss any initial questions or concerns you may have.
Go over available homes that fit what you are after, brainstorm and explore alternative options you may not have considered and finally we will set up your initial search together.
Review required Alberta governed agency paperwork, which will outline our working relationship. After this point we will sign all paperwork electronically through our online signing system called DotLoop.
A little preparation goes a long way, if you are clear on what you want and understand the steps to get there - you will already have an advantage compared to most buyers on the market.
If we have yet to schedule our consultation, please provide 2-3 times that work best for you and your schedule in the near future. We always do our best to accommodate your schedule, by having availability most days, evenings and weekends.
Mortgage Pre-Approval
At this stage, the first and most important step is to get pre-qualified for a mortgage.
The sooner the ball's rolling on your pre-approval, the better - in order to begin searching, we need to determine a realistic expectation of what you can afford. Not only that, having your ducks in a row now will save you a lot of stress later on, and put you in a stronger position when you’re ready to make an offer.
If you already have a mortgage under your name, you may want to discuss with your current financial institution about your situation and financing options - if you are able to keep or "port" your existing loan or if it makes more sense to get a new one. What your payout penalty is if you are considering breaking your mortgage before the term is up for renewal.
An alternative option to the to the traditional lender (Big Banks, who are limited to offering their own product) is to utilize the service of a mortgage broker, Not only can a mortgage broker negotiate rates on your behalf, but more favorable terms that may align better with your situation and future goals. Unlike traditional banks, brokers will have access to an array of different lenders (providing a variety of financing options), and a savvy broker will know who is the best match for you. Having a solid broker that you jive with can be a great addition to your personal team of professionals, and may provide a valuable service through out your life. All broker fees are paid by the lender, costing you nothing for the service, and since like realtors they are only paid upon possession, their goal is aligned with ours - help you close on a property.
Depending on your specific goals, it may also be worth while chatting with a broker or your bank about the possibility of a "mortgage plus improvements" - which is a tool you can use in order to lump the costs of any renovations you plan on doing in with your amortization, it's a way to avoid paying upfront for any upgrades and repairs out of pocket.
Mortgage Broker Recommendations
Here is a list of our preferred mortgage brokers. These are recommendations based on competency and past client experience - I do not receive compensation referring you to any broker - If you already have a mortgage broker/specialist in mind or none of these options seem like a fit, just let me know - you are welcome to deal with whomever you like and I can also provide alternative options for more particular situations (IE: Language, skill set, etc...)
Feel free to reach out and let them know I sent you,
Additional Resources
We will go over the following together, and wanted to provide you with the opportunity to review ahead of time if you would like.
Process Overview and Costs to be Prepared For
This one page guide is an overview of the buying process from beginning to possession and incurred expenses that you should anticipate.
Understanding Your Relationship with a Real Estate Professional
Learn the three relationship options with a real estate professional—brokerage agency, designated agency, or customer—and what each means for buying or selling property. This guide outlines when written agreements are required, an agent’s key duties (loyalty, confidentiality, disclosure, obedience, care, and accounting), and your responsibilities, including sharing relevant facts and paying agreed fees and expenses.
Exclusive Buyer Representation Agreement (Designated Agency) Overview
Summary of an exclusive buyer representation agreement outlining the property search criteria, the exclusive agency relationship with a designated agent, the term of the agreement, and key duties of the brokerage, designated agent, and buyer. Covers search and communication expectations, offer preparation and negotiation support, transaction guidance, and handling of funds in trust.
Meet the Team!
Lucca Dambacher - Client Reviews
Click here to see what past clients had to say! ⭐
Step 2: Agency Relationship Paperwork - "Getting ready to buy"
Admin Support - Jeff young
Meet Jeff, he will be here to support us with compliance related items, ensuring everything is conveyed to the lawyers and brokerages, he will be reaching out directly throughout the process.
FINTRAC Compliance Requirments
FINTRAC is Canada's financial intelligence unit and anti-money laundering and anti-terrorist financing supervisor. The Centre helps to combat money laundering, terrorist activity financing, sanctions evasion and threats to the security of Canada.
FINTRAC ensures the compliance of thousands of businesses with requirements under the "Proceeds of Crime (Money Laundering) and Terrorist Financing Act" (PCMLTFA)
Businesses subject to the PCMLTFA are required to establish a compliance program, identify clients, keep records and report certain types of financial transactions to FINTRAC
ReallyTrusted - FINTRAC Compliance
Our brokerage uses a third party service called "Really Trusted" in order to ensure we remain in good standing with FINTRAC. You can click the link for more information on the company and how they keep your data safe.
You will receive an email from our admin, Jeff, asking you to send an image of your Identification along with a few questions you will need to answer. If you are having any issues with the program, feel free to send me a copy of your drivers license, so I can assist.
Please note, your lawyer and mortgage broker are held to the same standard and will require the same of you.
Electronic Signature Software - Dotloop
Unless otherwise discussed, any and all paperwork requiring signatures will be sent via Dotloop. You may create an account if you prefer to have all documents in one convenient place - but this is not necessary.
If at any point through the process you are having troubles getting a document signed, you can refer back to the help page that is linked, or reach out directly.
Step 3: Showings / Offer Process / Game plan
Thanks for signing the docs. Our Game plan. Thanks so much for trusting us with your home search journey
Home by ShowingTime
If you download the Home by ShowingTime app, you’ll be able to see all the homes we’re touring, get directions, receive updates, and keep everything organized in one place. Please ensure you sign up with the same email address you provided.
Showing tips
- Download Home By ShowingTime - Add Link to how to use PDF, or upload it.
https://marketing.showingtime.com/files/training/general/guide_to_home_by_showingtime.pdf
- Take a drive through the neighbourhoods you are considering to make sure they are a fit for you.
- Listing ranking sheet
The Offer Process
This is just a quick read so you know what to expect when we make an offer.
Purchase contract
Here is a sample of what a purchase contract looks like if you'd like to familiarize yourself with it.
Considerations With Condos
What Are Conditions?
What are Terms?
Step 4: Offer Accepted
Congratulations on the accepted offer! This is an exiting time, but it is also a critical time and it can feel a little bit stressful - I want to reassure you that you are in good hands and I will be staying on top of things closely to ensure everything goes smooth leading up to our condition date. All next steps are clearly outlined below, but should you need more clarity or would simply prefer to go over this things together - don't hesitate to call.
Also, a quick reminder - we are working on the same team, and I am here acting on your best interest - I never want to feel like I am dictating the process, so please let me know if you have any concerns or if there is anything that you are uncertain about at this stage - I would be far more upset if you had to live with regret, then I would be finding out you got cold feet and we need to try again on a different property.
Our deposit needs to be in to the sellers brokerage by (Insert Date & Time). for the amount of (Enter Amount) as per the purchase contract. I have attached the specific
ROFF
Condition Dates
Lawyers Information
Property Inspection companies
Every inspection will bring up various items so it comes down to how significant the issues are and how many of them are present and what are the costs to remediate. With this information from the inspection, we have 3 options:
1. Take the property as it is.
2. Walk away from the property.
3. Attempt to renegotiate.
If we attempt to renegotiate, the sellers can agree to fixing/replacing our items listed, say no to our request, or meet us somewhere in between. It is truly up to the seller to proceed how they like regardless of what we would most like.
Step 5: Firm Sale
What to expect from here
Step 6: We are one week away from closing
Make sure you update address on important documents, set up utilities, plan a moving company.
Lets iron out a time to do our pre possession walkthrough
Thank you for working with us
You are officially a home owner!
I just wanted to extend the warmest congratulations on the successful closing of the purchase of your new home. Although the sale is complete, this is not farewell. My team and I are here for you during your entire home ownership journey. Whether you need recommendations on trusted trades, want to chat about renovations & return on investment, find out how much the neighbors house sold for or to simply say hello - I would be happy to hear from you.
We believe in keeping you informed as a homeowner as to how the market is and how your investment is performing, so we will be in touch periodically in the future with newsletters, market updates, and more.
Share your thoughts!
Lastly, I would greatly appreciate it if you could provide me with a testimonial about your
experience working with me and my team. Your feedback will help us to continuously improve our services and provide better support to future clients.
Additionally, if you know anyone who may be in need of a great real estate agent, it would mean the world to me if you could make a connection. As you know, referrals are an essential part of how I grow and maintain my business, and I would be honored to help anyone you know with their real estate needs.
I appreciate your support :)