Buying Real Estate in Winnipeg with Larry and Billy Kimacovich
BUYING WITH US
WORKING WITH AN REALTOR
CLOSING PROCESS
Your Realtor guides you step-by-step through the closing process and ensures that everything flows together smoothly.
CODE OF ETHICS
Your Realtor subscribes to a strict Code of Ethics and is expected to maintain a higher level of knowledge of the process of buying real estate.
NEGOTIATIONS
Your Realtor negotiates on your behalf to attain the best terms possible.
PROPERTY SELECTION
Your Realtor assists you in the selection process by providing you a full list of properties that match your criteria and then providing objective info on each to help narrow down the choices.
Q & A
DO I PAY FOR MY REALtor'S FEES?
Your Realtor gets paid by the Seller of the property. Buyer's typically do not pay any real estate commissions
SHOULD I BUY OR RENT?
Real Estate properties are investments that can be sold at a later date and often at a considerable return. When renting you are helping to pay off the Landlord's mortgage, however it might make sense to rent for a period of time before buying. We want to set you up with the best approach to the market.
WHAT CAN I AFFORD TO SPEND?
Our team can connect you with knowledgeable Mortgage Specialists who can walk you through the mortgage process, and start the pre-approval. What you can afford depends on:
gross household income
down payment
mortgage interest rate
current monthly expenses
ARE THERE ANY ADDITIONAL COSTS OR EXPENSES?
The City of Winnipeg charges property tax based on the evaluated property value. Your Mortgage Consultant can outline these costs for you.
HOME HUNTER'S SERVICE
Our Home Hunter Service will guide you in your search for a new home. This service provides:
Information on all new listings that come to the market which match your home search criteria, such as your preferred neighbourhood, price, size, etc.
This search includes properties listed with all real estate companies.
Your emails will include maps, tours of homes and printed information of all listings.
Quickly and easily make alterations to your search parameters as your needs change.
Access to Larry and Billy to arrange property showings.
Buying a House
Purchase Process
Contact Billy, who can help you connect with a mortgage agent to get pre-approved and to find out what you can afford to spend.
Inform us of your budget and housing needs. With this info applicable listings will be provided and showings can commence.
Once the right property is found, an offer to purchase is drafted, presented and negotiated. If accepted, any conditions need to be met and satisfied within the allotted time.
Prior to the closing date (date of possession), the Buyer's lawyer will review the agreement, ensure the title is clear and all taxes and utilities are setup and paid.
On closing day the Buyer will pick up the keys at the lawyer's office.
Buying a Condo
Purchase Process
Contact Billy, who can help you connect with a Mortgage Consultant to get pre-approved and to find out what you can afford to spend
Inform us of your budget and housing needs. With this info applicable listings will be provided and showings can commence.
Once the right property is found, an offer to purchase is written up, presented and negotiated. If accepted, any conditions need to be met and waived within the allotted time.
Prior to the closing date (date of possession), the Buyer's lawyer will review the agreement, check the status certificate, ensure the title information is current and all taxes are paid.
On the possession date the Buyer will receive keys from their lawyer.
Q & A
CONDO AGE?
It is important to find out how the old condo is. Will it need repairs soon? Pending future renovations should appear on the status certificate and will be reviewed by the Buyer's lawyer prior to closing.
CONDO AMENITIES?
New larger condos typically have modern recreational facilities for the enjoyment of its residents
swimming pool
gym/exercise room
billiards
running track
basketball court
party room
library
tennis court
CONDO SECURITY?
Many modern condos have 24 hour security, concierge, or video cameras. Some older buildings may not have these levels of security.
PETS?
Each condo has its own rules and regulations. Companion animals are typically allowed, however there may be restrictions on quantity and size.
VISITOR PARKING?
If you plan to have guests come to visit you, it is important to find out if the condo provides visitors parking. Some buildings have limited availability. Find out how many spots are reserved for guests, and what are the restrictions (time, size, etc).
Glossary of Terms
DEPOSIT
Acts as a security and often accompanies an offer to purchase.
DOWN PAYMENT
The remaining balance of the purchase price (minus deposit and mortgage amount) i.e. personal savings
HOME INSPECTION
Is recommended when determining the condition of the property and relay any areas of concern.
MORTGAGE LOAN INSURANCE
A buyer may require Mortgage Insurance. Premiums may vary depending on how much money a buyer is putting down.
PROPERTY INSURANCE
Mortgage lenders require the property be insured on closing.
PROVINCIAL LAND TRANSFER TAX
Is paid on all Real Estate transactions in Manitoba. Fee is calculated based on the sale price.
LEGAL FEES AND DISBURSEMENTS
Upon closing the lawyer fees are due. Contact your lawyer for full details.
LENDER APPRAISAL
Your mortgage lender may request an appraisal of the property.