The Purpose of This Package
This package is my first step in helping you understand the home-buying process. The more you know before you begin, the more you’ll feel in control and the less stress you will feel. Research and education will be your most useful tools.
So, read on! The following pages should give you lots of useful information and provoke some important questions to ask as you begin your search.
If you have any questions about anything contained in this guide, or would like further clarification on any aspect of the home buying process, please do not hesitate to get in touch with me. You can contact me by phone at 221-4675 or by e-mail at: lornamckillip@ns.sympatico.ca
I look forward to working with you.
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Is It a Good Time to Buy?
This is an exciting time to be considering the purchase of a home in the Halifax area! There are still reasonably priced homes available and interest rates remain among the lowest we’ve seen in 30 years. The area is growing quickly - a home purchased now will be a good investment. The demand for homes is increasing, so prices are rising and should continue to rise over the long term. Demand for accommodations also means higher rents.
In short, a house is a good investment to make right now.
Why Should A Buyer Use a Realtor?
Firstly, you don’t have to pay anything for the professional services of a Realtor when you are buying a home.
You can retain a Realtor on Buyer Agency who will fully represent your interests in buying a home, and you don’t pay anything for that service.
In this Province, when a home is listed for sale, the seller agrees to pay the Realtor a commission. When the home is put on the Multiple Listing Service (MLS) system, that Realtor is asking other Realtors licensed to work in the system to help find a buyer for the home, and he or she is offering to share the commission payable. This means that as a buyer, you do not pay for Realtor services.
Secondly, you can get an agent that is working exclusively in your interest.
If you have the Realtor who has listed the home (its their sign on the lawn) to write an offer for you, you will be represented by that Realtor under a limited dual agency agreement. This means that there are certain things the Realtor cannot advise you on in order to be fair to both the Sellers and you, the Buyer. You should make sure you fully understand the limitations of that arrangement. (Ask to see our brochure “Working With a Real Estate Agent” for a complete description of agency.)
Thirdly, you can get an agent that will show you any house objectively.
The Multiple Listing Service is designed to allow you to work with one salesperson only, and still have access to everything on the market. A professional, well-trained Realtor will be able to view all properties with you, will more quickly become sympathetic to your needs and wants, and will be your best insurance against making a mistake.
Working with a Realtor under a Buyer Agency Agreement also provides a means to have representation if there is an exclusive listing (not MLS) or a “For Sale by Owner” listing that you are interested in. See the following article "Getting the Best Service".
Why Should You Choose Lorna McKillip, ABR as Your Realtor? Selecting a Realtor is just as important as selecting any other professional such as your family doctor, dentist or attorney. He or she should be fully qualified, be willing to work hard for you, and keep your best interests in mind at all times.
I have had intensive training and been accredited by REBAC - the Real Estate Buyers’ Agent Council. I am a specialist in representing buyers, and I take pride in offering you objective, professional advice at no cost to you. (See the following article: “What Is A Real Estate Buyer’s Agent?” )
Buying a home is a major undertaking, both financially and in the effect it will have on your personal life. For most people, it is the biggest financial investment they make. Being prepared and using the right Realtor will make this a rewarding, fun and exciting step.
I have moved all over Canada, and I appreciate that buying a home and moving to a new community, especially the first time, can also be stressful and confusing. I will provide you with the advice and information you need to help you make the right decisions.
