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===What's involved in buying a home=== | ===What's involved in buying a home=== | ||
Most homes in Canada are sold through real <span class="noglossary">estate</span> agents, also called realtors. A real estate agent can assist you through the purchase process including: negotiating the price, providing you with information on the community you want to live in and sharing information about the housing market in general. | Most homes in Canada are sold through real <span class="noglossary">estate</span> agents, also called realtors. A real <span class="noglossary">estate</span> agent can assist you through the purchase process including: negotiating the price, providing you with information on the community you want to live in and sharing information about the housing market in general. | ||
The cost associated with working with an agent is usually covered by the seller of the home. It is a good idea to meet with a realtor before you decide if you would like to work with them. | The cost associated with working with an agent is usually covered by the seller of the home. It is a good idea to meet with a realtor before you decide if you would like to work with them. | ||
When you find the property you want to purchase, a real estate agent will write an offer, called a Contract of Purchase and Sale. The agent will present your offer to the seller. | When you find the property you want to purchase, a real <span class="noglossary">estate</span> agent will write an offer, called a Contract of Purchase and Sale. The agent will present your offer to the seller. | ||
Once you and the seller have agreed on a price, the agent will prepare the necessary documents to complete the purchase. Your agent will take care of sending the documents to the bank in order to arrange for the mortgage that you had been pre-approved for. | Once you and the seller have agreed on a price, the agent will prepare the necessary documents to complete the purchase. Your agent will take care of sending the documents to the bank in order to arrange for the mortgage that you had been pre-approved for. | ||
It is a good idea to have the home inspected before you buy it. This may help you avoid big or small surprises such as a broken frame or mold in the walls. | It is a good idea to have the home inspected before you buy it. This may help you avoid big or small surprises such as a broken frame or mold in the walls. A realtor can help you find a home inspector. You can also find information about home inspectors online or in your local phone book. The buyer pays for the cost of the inspection. | ||
You will need a lawyer or notary public to prepare the documents that transfer legal ownership from the seller to you. Your real estate agent may be able to suggest a lawyer or notary public for you to choose from. Lawyers and notaries can also be found online or in your local phone book. | You will need a lawyer or notary public to prepare the documents that transfer legal ownership from the seller to you. Your real <span class="noglossary">estate</span> agent may be able to suggest a lawyer or notary public for you to choose from. Lawyers and notaries can also be found online or in your local phone book. | ||
===Owning a home: bylaws=== | ===Owning a home: bylaws=== | ||