Buyer representation is essential for every purchaser. You can expect the following process:
1. A meeting to discuss your needs and ask the REALTOR® about his or her experience.
2. Sign a Buyer representation agreement that authorizes your REALTOR® to work on your behalf and give you advice. (Without this authorization the REALTOR® is not permitted to advise you on the purchase of a home). A typical Buyer Agreement has a duration of a minimum of three months. It is subject to a discussion to make it longer or renewed upon expiration.
3. Your REALTOR® will establish your criteria through a number of questions and may set you up with automatic notification of properties that meet your criteria as they come on the market. This notification will be up to 48 hours sooner than the properties show up on Realtor.ca
4. Your REALTOR® will set appointments for viewing properties you wish to see and may preview properties for you to save time.
5. Upon finding a property that you wish to buy, your REALTOR® will contact the seller’s representative to obtain pertinent information regarding the condition of the property, desired closing date by the seller and any other specific information that will contribute to establishing value. Your REALTOR® will obtain comparable recently sold properties to determine a strategy for negotiating an offer.
6. Your REALTOR® will prepare an offer, ensuring that clauses are included that cover your interests. Inspection is a must! However, there are many other clauses that need to be included to give you time to evaluate the property and ensure it is in the condition you expect upon closing.
7. Your REALTOR® then negotiates on your behalf, always protecting your privacy in accordance with your directions.
8. Upon reaching a firm agreement, your REALTOR® will follow up with you to fulfill conditions in a timely manner. This will include arranging for an inspection and following up with other conditions. You may also ask your REALTOR® for a mortgage recommendation if you require one.
9. Your REALTOR® will send your firm agreement to the lawyer of your choice.
10. You will have a meeting with your lawyer to discuss the process and one more meeting upon closing the transaction. Your REALTOR® is available for any follow up questions.
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