Frequently Asked Buyer Questions
How much do I need for a down payment?
In Canada, the minimum down payment is 5% for homes under $500,000. Above that, it's a sliding scale. I’ll walk you through what this means for your budget.
Should I buy first or sell first?
That depends on your financial comfort level, the market conditions, and the timing. I’ll help you weigh the pros and cons based on your situation.
What’s a status certificate, and do I need one?
For condos, yes. A status certificate outlines the financial and legal health of the building. We review this during the conditional period to protect you from surprises.
How does the deposit work?
The deposit (typically 5% of the purchase price) is paid within 24 hours of an accepted offer. It’s held in trust and goes toward your down payment at closing.
Do I have to pay a realtor when I’m buying?
Typically, no. In most cases, the seller covers the buyer agent’s commission, so you get expert representation at no cost to you.
What’s the difference between pre-approval and pre-qualification?
Pre-qualification is a rough estimate. Pre-approval is a more formal review by a lender, based on credit checks and documents—it's stronger when making offers.
What should I look for during a showing?
Layout, light, and general condition are key. But I’ll also help you look deeper—checking for signs of moisture, wear, and resale potential.
What’s the difference between pre-approval and pre-qualification?
Pre-qualification is a rough estimate. Pre-approval is a more formal review by a lender, based on credit checks and documents—it's stronger when making offers.
How long does the buying process take?
It depends on the market and your needs, but on average, buyers find a home within 30–90 days. I’ll keep you moving at the pace that works for you.
Can I buy a home with conditions?
Yes, and in most cases, I recommend it—like financing, inspection, or review of status certificates. I’ll help structure the offer to protect your interests while still being competitive.
What’s your role as my agent?
I’m your guide, negotiator, and advocate. I help you find the right home, avoid costly mistakes, and get the best deal. I work for you, not the seller.
What extra costs should I budget for beyond the down payment?
In addition to your down payment, you'll want to plan for closing costs (typically 1.5%–4% of the purchase price), including land transfer tax, legal fees, title insurance, and home inspection fees.