Buying Older or Century Homes. When buying an older home you are usually buying a home with built in character which has withstood the test of time and is still in habitable condition. There are some inherent problems that you might encounter when purchasing an older home. I have listed a few basic ones just for consideration.
Your older homes foundation is probably constructed of cement and stone. There would have been no waterproofing done to the exterior of the foundation and there will be no weeping tile draining into sump. This inspection area is one of the most important and expensive to repair if faulty.
Knob and tube wiring was usually installed in all older homes and there is usually still porcelain insulators present even if it was all removed. You have to have a home inspector or electrician check to ensure all the knob and tube wiring was replaced. The knob and tube was usually replaced with older two wire which has no ground and unless a total rehab was done on building you will still find two wire at outlets on upper floors and other hard to access areas.
Asbestos and vermiculite can be found in many older homes. Some older homes had hot water boilers with cast iron radiators. This systems were typically insulated with asbestos insulation. Vermiculite insulation may contain asbestos and was frequently added to attics in older homes. Asbestos requires professional removal which is very expensive.
Lead plumbing pipes and galvanized plumbing lines can be very expensive to replace and were used on most older homes. Most insurance companies in Ontario will not insure a home with galvanized plumbing pipes. Galvanized pipes tend to corrode from the inside out so that there is no warning that a pipe is about to burst.
Older homes may have many layers of lead paint which has built up over the years. Lead-based paint is a major source of lead poisoning for children and can also affect adults. In children, lead poisoning can cause irreversible brain damage and can impair mental functioning. It can retard mental and physical development and reduce attention span. It can also retard fetal development even at extremely low levels of lead. Thus, young children, fetuses, infants, and adults with high blood pressure are the most vulnerable to the effects of lead.
Your house is old and gorgeous, as are those wonderfully ornate cast-iron radiators, but these days, energy prices are anything but old-fashioned. Older homes have radiators sized for a time when open-window ventilation was popular and insulation was uncommon. If you’ve insulated and updated your windows, your radiators are most likely larger than they need to be. You should have your home assessed by a heating expert to evaluate the expense and available options if required to upgrade your heating system.
The Barrie Home Inspector has many years of experience in inspecting Century Homes and is also a Certified Building Code Official with the Ontario Building Officials Association. Commercial Building inspections also entail the same problems as residential and buyers have to be aware of the risks and hazards involved in purchasing older properties. Visit the Barrie Home Inspector’s site a www.barriehomeinspector.com to obtain more information and advice when dealing with older homes.
Jeremy Ridley – RBC Mortgage Advice for Home Buyers
Top 10 First-Time Homebuyer Questions:
A home can be one of the most personally and financially rewarding investments you’ll ever make. But if you’ve never bought a home before, the process may seem a little overwhelming.
To help you, We’ve put together this special report. It provides answers to 10 of the most frequently asked questions that our home-buying clients ask.
1. What’s the best way to save for my down payment?
If you’re saving to buy your first home, one of the most effective ways to put money aside is with an automatic savings plan. With these plans, an amount you specify is automatically transferred from your bank account to your savings account on a regular basis. You can contribute as little as $25 and make deposits weekly, bi-weekly, semi monthly, monthly, quarterly- whatever works best with you cash flow.
One of the best places to put your savings is in a tax-free savings account (TFSA). All earnings and withdrawals from your investment are tax-free. You can contribute up to $5,000 a year into a TFSA
You might also consider directing your savings to your Registered Retirement Savings Plan (RRSP). Under the RRSP Home Buyers’ Plan, first-time home buyers can withdraw up to $25,000 from their RRSP, tax-free, to use as a down payment on a home. The Plan allows you 15 years to repay the amount withdrawn, starting the second year after the year of withdraw. For more information on this plan, please visit cra.gc.ca and search “Home Buyers’ Plan” in the A to Z index.
2. How much home can I afford?
Getting pre-approved for a mortgage is a good place to start, or you can use one of the many online calculators to help you figure out how much home you can buy. The “How much home can I afford” calculator at www.rbcroyalbank.com/products/mortgages/mortgage_calculators.html or calculators available from Canada Mortgage and Housing Corporation at cmhc.ca can help you start to understand an affordable range for you to start shopping.
Two important ratios lenders use to determine how much home you can afford are your Gross Debt Service (GDS) ratio and Total Debt Service (TDS) Ratio:
-GDS is your proposed monthly mortgage payment, property taxes, and heating costs divided by your gross monthly income. Ideally it should not exceed 32%
-TDS is your entire monthly debt load (Homeownership costs plus credit car payments, loan payments, and other debts) divided by gross monthly income. Ideally, its should not exceed 40%
3. What is a pre-approved mortgage? Does it guarantee I’ll get the financing I need?
A pre-approval simply means that you’ve reviewed your earnings, assets, and liabilities with a lender who has determined the amount of money that you should be able to borrow for the purpose of purchasing a home. In order to proceed with a formal mortgage approval, the lender will want to assess the value of the property you are looking to purchase and confirm your income, down payment and so on if you haven’t already provided that information.
Having a pre-approved mortgage is a great advantage when you’re looking for a home. Knowing the price range that you can comfortably afford will help you narrow down your search and ensure you won’t be let down by finding that the home of your dreams is not within your reach. It will also signify to realtors and vendors that you are a serious purchaser and give you more credibility when negotiating your purchase.
In addition, the interest rate that’s quoted on your pre-approval is usually locked in for 90 days, so you’re protected if interest rates rise while you’re looking for your perfect first home.
4. Why should I use a real estate agent?
A real estate agent will help you find the right home and will offer you advice on what price to offer and any conditions you might want to consider including in your Offer to Purchase. If possible, get referrals from friends, family and co-workers. It’s important to choose an agent who is familiar with the area where you are searching for a home. You may be spending a lot of time with your agent checking out homes, so be sure to choose someone you feel comfortable working with.
In some provinces, real estate agents may require that you sign a Buyer Representation agreement. This is a binding agreement for a given period of time that ensures that the agent you are working with can represent you in your purchase and be compensated for doing so before you sign a Buyer Representation agreement, review the terms of the agreement to confirm you are comfortable with it.
5. How can a mortgage specialist help me?
Working with an RBC Royal Bank mortgage specialist has a number of advantages, especially if you are a first-time home buyer. RBC Royal Bank mortgage specialists have access to the entire RBC network of resources to draw upon on your behalf. They’ll not only help with your pre-approval but also look at your whole financial picture and provide personalized advice based on your needs. That includes reviewing your mortgage options with you and making sure you get the mortgage that’s right for you.
This allows you to go shopping with confidence. Once your mortgage specialist says you are pre-approved, you are-no last minute surprises to worry about!
6. Is my credit good enough for me to be approved for a mortgage?
One thing your lender will look at before approving you for a mortgage is your credit score- your record for paying your bills and repaying loans on time.
InCanada, there are two main credit-rating agencies, Equifax and TransUnion. These companies keep records of missed payments and overdrawn credit accounts. If you’ve ever had a credit card or applied for an account with a major utility, chances are your payment history is on record with one or both of these companies.
If you have a good track record-that is, you’ve always paid your bills on time and made at least the minimum payment due on your credit cards-you will have a good credit rating. If your track record isn’t perfect, that doesn’t mean that you won’t get approved for financing. If your late payments are in the past or date back to you student years but have since been paid on time, then you may not have difficulty in arranging financing. Your lender can help you assess your situation and provide advice as to how to improve your credit rating to get you ready to purchase your first home.
You can get a free copy of your credit file by mail just by asking. For details, visit Equifax.ca or Transunion.ca
7. What is Mortgage insurance?
If your down payment is less than 20% of the purchase price of your new home, you will require a mortgage that’s insured against default. This insurance protects the lender in case you default on your mortgage payments and is required by law.
There are two main mortgage insurers inCanada(the Canada Mortgage and Housing Corporation and GenworthCanada). The cost will vary from 0.5% to about 3% of the total amount borrowed. The amount is usually added to your mortgage and the cost added in to you regular payment.
8. What are ‘closing costs’, and how much money should I set aside for them?
Closing costs are those additional expenses that come due when you complete the purchase of your new home. They typically include:
- i. Lawyer’s or Notary’s fees. When you buy a home, you need to hire a lawyer to complete a title search (to make sure there are no outstanding liens against the property and that the vendor actually owns the property), ensure all the documentation has been accurately completed, register your mortgage and register you as the new owner of the property.
- ii. Land Transfer tax. Most Provinces (and some municipalities) charge a fee for documenting a change in ownership for real estate.
- iii. Disbursements. These are costs that the seller has paid in advance, such as property taxes and utilities. You reimburse the seller for any prepayments that come into effect after you take possession of the home.
The amount of these costs will vary depending on where you live and what kind of home you’re buying. As a guideline, you can estimate that closing costs will be about 2.5% of the purchase price of your home, though this may vary greatly, especially if HST applies to your purchase.
In addition to closing costs, remember that you may also need to budget for appliances (if not included with the home), utility hook up, redecorating and paying a professional mover.
9. What are the best mortgage options for me?
When choosing your mortgage, you’ll need to decide whether you want a variable or fixed rate. The options that are right for you will depend on your situation and your personal preferences. Here’s a look at how they stack up:
- i. Variable-rate mortgage. With a variable-rate mortgage, the interest rate you are charged fluctuates based on your bank’s prime lending rate. In times of declining interest rates or stable low interest rates, a variable rate is usually the most inexpensive. With a variable rate mortgage, the payment you make is fixed; however, if interest rates rise, more of your payment goes towards paying interest. If interest rates decrease, more of your payment goes towards paying off your principal.
- ii. Fixed-rate mortgage. With a fixed-rate mortgage, your interest rate is locked in for the term of your mortgage contract, protecting you if interest rates go up over the term you have chosen.
10. How long will it take you pay off my mortgage?
The length of time needed to pay off your mortgage completely is called the amortization. Many first-time buyers opt for a 25-year amortization but amortizations up to 30 years are available.
Choosing a longer amortization will lower the amount of your regular payments, but it means you’ll be paying more interest over the life of your mortgage. Shortening your amortization, on the other hand, increases your regular payment but saves you interest overall and means you’ll be mortgage-free sooner.
An easy way to shorten your amortization and pay less interest overall is to choose an accelerated weekly or bi-weekly payment schedule rather than monthly. Essentially, your regular monthly payment is divided into four (or two). Because some months of the year have five weeks rather than four, over the course of the year you make the equivalent of an extra month’s payment.
More Questions?
If you have a question that hasn’t been answered here:
-Please visit your local branch and speak to an RBC Royal Bank mortgage Specialist
-You can contact Jeremy Ridley at (705) 739-4684 for free mortgage advice
– Or visit www.jeremyridley.ca
Kyoto Protocol Canada Thumbs Nose at the World. Canada has formally pulled out of Kyoto Protocol just in time for Christmas. This did not come as a surprise to most people as Canada as been steadily increasing it Greenhouse gas omissions almost from the day it signed the accord.
Thirty-nine of the forty countries have ratified the Protocol. Of these, thirty-four have committed themselves to a reduction of greenhouse gases (GHG) produced by them to targets that are set in relation to their 1990 emission levels, in accordance with the Protocol. Canada’s reputation in the international community will forever remained “tarnished” after the selfish lack of concern they have shown towards fighting this global problem.
While Europe has actually reduced its Greenhouse emissions by 17%, Canada, a developed country, has actually managed to increase its Greenhouse emissions by 17%, not a record to be proud of. Canada has been a member of Kyoto Protocol since 1998 but has done little to reduce emissions since then.
Canada has shown the world that it lacks the political will to take an active part in fighting global warming. As Alberta oil sands development steps up, Canada’s emission numbers will only get worse, as separating the oil from the sands requires tremendous amounts of energy. Big business controls what and how the government does business and the Canadian government has turned its back on global cooperation.
The current government has done little to reduce emissions, in fact they have shelved programs like the EnerGuide retrofitting program which had its unfortunate beginning as a Liberal program. The conservatives Clean Air Act had no merit and as some like to say, was “Dead on Arrival”.
Last year, a record 30.6 gigatonnes of carbon dioxide poured into the atmosphere, mainly from burning fossil fuel – a rise of 1.6Gt on 2009, according to estimates from the IEA regarded as the gold standard for emissions data. This is the legacy we will be passing on to our children. A temperature rise of more than 2 degrees Celsius – which scientists say is the threshold for potentially “dangerous climate change” maybe just a pipe dream as we blow by that bench mark following our Governments failure to act and the ability of big business to prevent any significant reductions. The Alberta Tar Sands will probably end up being the future generations “Poster Child” as the symbol of greed of a few, overcoming the “needs of the many.”
Local Angus Real Estate Agents. People who own property are typically 26% wealthier than non-home owners. When house values increase the home owner benefits even though they may only have a small equity position in the home. Just imagine if you owned a $150,000 house with 5% down ($7500) and house values increased by just 3%. In one year you would have had an increase in equity of over $5,000
Many people who have been turned down by traditional mortgage lenders are turning to the Rent to Own method of home buying. For many, the rent-to-own home may be the best option. Also called a lease-to-own house, the process works similarly to a car lease : Renters pay a certain amount each month to live in the house, and at the end of a set period — generally within three years — they have the option to buy the house. Each month of rent they pay is income for the seller, while a portion of it goes toward a down payment to eventually buy the home.
In many Rent to Own agreements the renters also have to pay an option fee and then a rent premium. The option fee is a set amount that the renter pays the seller. If, at the end of the lease period, the renter buys the house, the option fee becomes part of the down payment. If the renter doesn’t buy the house, the option fee becomes income for the seller. Rent premiums are an amount slightly above the typical rent, with a portion of that money going toward a down payment.
The finances of the Rent to Own property are usually based this example situation. The average house is worth $300,000, and typical rent would be $1,500 a month. Someone who’s renting to own might pay $1,700 a month in rent and then receive a $200 rent credit each month. Add the option fee, in this case $5,000. On a three-year lease, the renter would earn $7,200 in rent credits. Adding the earned rental credits to the option fee, the renter has accumulated $12,200 for a down payment.
Rent to Own properties will require a deposit, the same as if you were buying your own home. Most companies will require a minimum of $15,000 as a deposit. The monthly payment for a rent-to-own agreement will depend on your budget. The larger your payments, and the longer you make them for, the larger the accumulated downpayment will be when you exercise your purchase option and get a mortgage in your own name.
At the end of your rent-to-own agreement, the sum of your initial deposit and your monthly payments will count as a downpayment for your own mortgage. To know exactly how much of a downpayment you will need to consult with a mortgage broker to discuss getting the best possible rate.
Your local Angus Real Estate agent can help you find a property that will fit your budget. Choosing a Professional agent with local knowledge and experience will greatly enhance your real estate shopping experience. Choose from our Best Angus Real Estate Agents to ensure your receive the best possible advice when making your next property investment.
Toronto Commercial Building Inspector. In Ontario Part 3 of the Ontario Building Code covers buildings over 600 M2 in size. The Ontario Building Officials Association offers many courses specific to Large Buildings which would be considered necessary if planning to inspect a Part 3 building.
Large Buildings is an intensive course dealing with the Occupancy of Buildings; Building Fire Safety; Safety within Floor Areas; Exits; Barrier Free Design; Structural Design; Change of Use and Renovations to name a few. As you can see from the subject titles all of these aspects of a building are important and can be very expensive to repair or upgrade.
The Classification and Construction course typically offers and includes the following: building classification; separation of major occupancies; building area and height; streets; building size and construction; occupant load; fire separation/fire-resistance ratings; firewalls; closures; Ontario Building Code requirements; fire stopping; provision for firefighting; and mezzanines and interconnected floor spaces.
Part 3 Fire Protection is an OBOA course dealing with all aspects of your buildings fire protection features. Your local building department may require you to upgrade your features where the following are lacking or require improvement; Fire Resistant ratings; where the building coded requires Fire Separations because of Building Classification, separation of major occupancies, service spaces and exits including penetrations of fire separations. An unknowing inspector may lead you to believe your building is code compliant when you could in fact be faced with spending thousands or tens of thousands in required building code upgrades.
The Commercial Building Inspector is a qualified Building Code inspector. He is a Certified Building Code Official with the Ontario Building Officials Association and is fully qualified on Large Buildings and Part 3 of the Ontario Building Code. An unknowing inspector may lead you to believe your building is code compliant when you could in fact be faced with spending thousands or tens of thousands in required building code upgrades.
The most important aspect of having your Commercial Property inspected is knowing the Qualifications of the actual inspector performing the inspection. There is no value to hiring a well known firm whose founder is extremely well educated, only to find out that you are going to be dealing with an employee, who may or may not have the qualifications you are looking for. The Commercial Building Inspector attends every inspection and uses only highly trained assistants to aid him.
The Commercial Building Inspector has experience in Project Reviews, Over 4,000 paid inspections, is a Certified Building Code Official and has experience in hundreds of plaza’s, Malls, Strip Malls, Medical Buildings, Apartment Buildings, Mixed Use and Multiple Occupancy building inspections. Visit Commercial Building Inspector to review Buildings Inspected and Qualifications, you won’t be disappointed.
Buying or Selling a Home in Angus. There are a lot of emotions involved when buying or selling a home, but negotiating the price shouldn’t be. Having a plan prior to negotiating is key to preventing stress during the turbulence involved in high-stakes negotiations. Your Angus Real Estate Agent can guide you and advise you but eventually you must make the final decision.
First time home buyers get a lot of tips from friends, family and co-workers, much of which is probably good advice gleaned from their own home buying experiences. Your Professional Angus Realtor has bought and sold hundreds of homes and is more prepared to advise you on many obstacles that may arise and often do. The more you know, the better equipped you are to negotiate.
Plan your attack. Determine what features you want and what they are worth to you. Know in advance the most you’re willing to pay, and with your agent work back from that number to determine your initial offer, which can set the tone for the entire negotiation. A too-low bid may offend sellers emotionally invested in the sales price; a too-high bid may lead you to spend more than necessary to close the sale.
When selling your home you want to present the best possible view of your home. Most Professional Angus Real Estate agents will help you in this area using their years of experience to guide you. From making minor repairs to plumbing, electrical, caulking, sidewalks and painting, what your prospective buyer first sees when initially walking through your home is what is most likely the deciding factor in whether to entertain an offer. Some Realtors will suggest you have your home Professionally staged to improve your homes presentation.
Most upscale homes now use professional staging companies to fully stage the property. These professional companies supply furniture and accessories to enable prospective clients to see the home in the best light possible and so they can envision themselves living there. Some Home Staging companies advertise that many of their homes will actually sell for more than the listing price.
People who earn a good salary but fail to qualify for a typical mortgage are frequently turning to the Rent to Own option, Rent to Own has become very popular in the Angus Real Estate market. A rent to own transaction is when a landlord agrees to lease a home to a tenant and the tenant has an option to buy the home for a pre-negotiated price before the end of the lease. The primary components of a rent to own transaction are the rental term, the purchase price, the upfront deposit, and the monthly rent credit.
When deciding to start looking for a new home, the first step you should take is getting yourself pre-approved by your financial institution of choice. When seeking preapproval, talk to a few different mortgage lenders to find the best mortgage package that suits your needs. Two or three lenders is usually enough to give you a reasonable idea of the amount of money to can afford to spend on a new home.
Your local Angus Real Estate Agent can share his knowledge and expertise to allow you to get more money from the sale or to save you money when buying your next property. Utilize their tools and expertise and help ensure your next real estate transaction is a pleasurable experience with the knowledge that you got the best price possible whether buying or selling.
Typical Problems When Buying Older Home. When buying an older home you are usually buying a home with built in character which has withstood the test of time and is still in habitable condition. There are some inherent problems that you might encounter when purchasing an older home. I have listed a few basic ones just for consideration.
Your older homes foundation is probably constructed of cement and stone. There would have been no waterproofing done to the exterior of the foundation and there will be no weeping tile draining into sump. This inspection area is one of the most important and expensive to repair if faulty.
Knob and tube wiring was usually installed in all older homes and there is usually still porcelain insulators present even if it was all removed. You have to have a home inspector or electrician check to ensure all the knob and tube wiring was replaced. The knob and tube was usually replaced with older two wire which has no ground and unless a total rehab was done on building you will still find two wire at outlets on upper floors and other hard to access areas.
Asbestos and vermiculite can be found in many older homes. Some older homes had hot water boilers with cast iron radiators. This systems were typically insulated with asbestos insulation. Vermiculite insulation may contain asbestos and was frequently added to attics in older homes. Asbestos requires professional removal which is very expensive.
Lead plumbing pipes and galvanized plumbing lines can be very expensive to replace and were used on most older homes. Most insurance companies in Ontario will not insure a home with galvanized plumbing pipes. Galvanized pipes tend to corrode from the inside out so that there is no warning that a pipe is about to burst.
Older homes may have many layers of lead paint which has built up over the years. Lead-based paint is a major source of lead poisoning for children and can also affect adults. In children, lead poisoning can cause irreversible brain damage and can impair mental functioning. It can retard mental and physical development and reduce attention span. It can also retard fetal development even at extremely low levels of lead. Thus, young children, fetuses, infants, and adults with high blood pressure are the most vulnerable to the effects of lead.
Your house is old and gorgeous, as are those wonderfully ornate cast-iron radiators, but these days, energy prices are anything but old-fashioned. Older homes have radiators sized for a time when open-window ventilation was popular and insulation was uncommon. If you’ve insulated and updated your windows, your radiators are most likely larger than they need to be. You should have your home assessed by a heating expert to evaluate the expense and available options if required to upgrade your heating system.
The Barrie Home Inspector has many years of experience in inspecting Century Homes and is also a Certified Building Code Official with the Ontario Building Officials Association. Commercial Building inspections also entail the same problems as residential and buyers have to be aware of the risks and hazards involved in purchasing older properties. Visit the Barrie Home Inspector’s site at www.barriehomeinspector.com to obtain more information and advice when dealing with older homes.
Alliston Real Estate Agents
Sarah Lunn is Innovative & Dedicated Real Estate agent. Sarah prides herself on being a highly energetic, result driven professional. The combination of her experience in customer service, together with a diploma in Business Marketing from Georgian College, has allowed her to develop a progressive edge in today’s real estate market. If you are looking for that dream home, let Sarah Lunn help! Tell Sarah what you are looking for and she will do the search for you! Sarah promises that she will work relentlessly for you to find that perfect home. Sarah is specializing in the Alliston and Tottenham real estate market.
Jim Bartley is a Professional Real Estate Agent who specializes in Buying or Selling – Alliston, Ontario Real Estate. Jim Bartley applies his Alliston home selling system in the Alliston, Ontario Real Estate market. Selling residential, condominium, multi family and investment property. Search for MLS listings, relocation services and a referral service for relocation are also a value added for the buyer and seller moving in and out of the “Alliston Ontario real estate” market.
Britton Ronan is the second generation in real estate, Britton understands very well the importance of setting goals. Being recognized by Prudential North America since his first year in the business as a Top Producer and in the past two years awarded Chairmans Circle Gold, ranking Britton and his team amongst the top 2% of the 65,000 realtors in the Prudential network. It is clear Britton and the Experience Sold Team take their goals seriously and do this by making their #1 Goal; Professional Service and Customer Satisfaction!
Mary Doldersun is a Professional Real Estate agent with RE/MAX. You, the client are my no. 1 priority. I have been in the business for over 30 years and become a member of your family until the transaction is complete. Personal service and total dedication is my motto.
Mary Doldersum services the Tottenham, Alliston, Albion, Adjala Mono and Beeton areas and specialize in residential and commercial real estate.
Alliston is a settlement in Simcoe County in the Canadian province of Ontario. It is part of the Town of New Tecumseth since the 1991 amalgamation of Alliston and nearby villages of Beeton, Tottenham, and the Township of Tecumseth. The primary downtown area is located along Highway 89, known as Victoria Street.
Alliston grew as a commercial centre for the area farmers and was best known as a potato-growing area. It is still a major industry in the town and is celebrated by the annual Alliston Potato Festival. Honda of Canada Manufacturing operates a large auto manufacturing facility southeast of Alliston, currently consisting of three major factories.
Orillia Real Estate Agents
Roy Micks is a Professional real estate agent with RE/MAX in Orillia ON. Roy has many years experience as a Real Estate agent and is able to provide his clients with his expertise whether buying or selling property. Roy has experience in water front, starter homes, power of sale, distress properties, rental properties and investment opportunities.
Darren has been actively Listing and Selling Residential Real Estate in Orillia for over 6 years. His passion for Real Estate and his ability to work with people have allowed him to successfully close transactions effeciently and as smoothly as possible, with integrity and honesty always being the forefront of every deal . Being a full-time REALTOR gives him the ability to be there through all stages of the process from start to successful finish! Bringing new methods of advertising and using today’s latest technology to complete full market analysis for pricing and professional photographs, your home will be marketed with maximize exposure and priced to maximize your investment, while keeping competitive in today’s slowing market!
Birgit Hoesterey is a fanatic about rural and cottage properties. Birgit specializes in properties in the Washago area and thinks that the Historic Village of Washago and the surrounding area is just beautiful with all our lakes and rivers. Great area for your Retirement Home. It is an ideal place to start a family and to raise children. Get a family cottage away from Home – just 1 1/2 hrs. from Toronto. Birgit Hoesterey is A FULLY LICENCED AND INSURED REALTOR……working full time. Since 1987 Birgit has been selling Real Estate in Orillia/Washago/Severn Bridge area. She personally just loves this Cottage-Country with all the lakes and rivers. Birgit’s customers and clients satisfaction are her top priority!
Orillia Real Estate agents are governed by the Orillia and District Real Estate Board Inc. who states, “Living in the Orillia Area is a ray of sunshine” Some Real Estate agents may belong to different Real Estate Boards or even belong to multiple boards. PROVIDING PROFESSIONAL CARE AND SERVICE SINCE 1954, INCORPORATED IN 1966.
Orillia and District Real Estate Board ensures quality by enforcing a strict code of business ethics and standards of practice among its members, both brokers and salespersons. By endeavouring to establish a uniform character in all Real Estate transactions by such methods as standardized use of readily acceptable forms such as purchase and sales agreement and listing forms.
The Orillia Board also requires that each member acquire a minimum standard education in REAL ESTATE. It is compulsory for each sales person to take a course in Real Estate. They also offer its members the most advanced medium of selling REAL ESTATE, by supplying to them, the most efficient MULTIPLE LISTING SERVICE® system available
Real Estate in Orillia.
A real estate broker, real estate agent or realtor is a party who acts as an intermediary between sellers and buyers of real estate/real property and attempts to find sellers who wish to sell and buyers who wish to buy. In the United States, the relationship was originally established by reference to the English common law of agency, with the broker having a fiduciary relationship with his clients.
Many Real Estate agents specialize in a localized area but with new technology the market has opened up to new international or multi-provincial clients. Globalization has had an immediate and powerful impact on real estate markets, making them an international working place. The rapid growth of the Internet has made the international market accessible to millions of consumers. A look at recent changes in home ownership rates illustrates this. Minority homeownership jumped by 4.4 million during the 1990s, reaching 12.5 million in 2000, according to the Fannie Mae Foundation. Foreign direct investment in U.S. real estate has increased sharply from $38 billion in 1997 more than $50 billion in 2002 according to U.S. 2000 Census data.
In return for the Real Estate agent or broker successfully finding a successful buyer for the property, a selling agent or broker, anticipates receiving a commission for the services the agent has provided. Usually, the payment of a commission to the brokerage is contingent upon finding a successful buyer for the real estate for sale, the successful negotiation of a purchase contract between a satisfactory buyer and seller, or the settlement of the transaction and the exchange of money between buyer and seller.
With the sellers’ permission, a lockbox is placed on homes that are occupied and, after arranging an appointment with the home owner, agents can show the home. When a property is vacant or where a seller may be living elsewhere, a lockbox will generally be placed on the front door. The listing broker helps arrange showings of the property by various real estate agents from all companies associated with the MLS.
The completion of a successful real estate transaction is concluded with the paying of the Real Estate commission. This used to be around 6% of the purchase price. The seller usually pays the Real Estate commission in both the US and Canada. The commission can be negotiated and is usually included in the listing agreement. There are many cut rate Real Estate agencies that now advertise discounted services.
It is becoming increasingly common for home sellers to buy some, but not all, of the traditional brokerage services. For example, some sellers might want help advertising their homes, but want to negotiate the sales price themselves. Such consumers might prefer to pay a real estate professional only for the service of listing their homes in the local MLS and placing other advertisements. Other consumers might find a buyer without assistance, but would like to hire a real estate professional to assist them with the negotiation of the sales price or with the paperwork required to close the transaction. The marketplace is evolving in response to these consumers. Real estate professionals who are willing to provide only those services a home seller wants have emerged in Missouri and throughout the country. These “fee-for-service” or “menu-driven” business models are currently legal under Missouri law and typically enable consumers to save thousands of dollars because the consumers pay only for those services they want.
Title insurance covers just about anything that can affect title to a property, both at closing and later. The list includes survey error; unregistered easements; certain zoning violations; prior construction liens; defects in title; error, omission or fraud on the part of a solicitor and even fraud on the part of the borrower, so the lender is protected. If there is a title dispute, the insurance company provides a no-fault resolution method, they will pay all legal fees and costs to defend title, and will cover any loss up to the value of the policy. What’s not covered are environmental problems like soil contamination, that’s a whole different kettle of fish. Even so, title insurance gives so many benefits for such a low cost, it’s hard to resist.
Certified WETT Inspections provided for Fireplaces, Wood Stoves and Pellet Stoves in the Barrie, Orillia and Alliston area. Only $50.00 when included as part of home inspection package.
The Alliston Home Inspector provides professional home inspections in Alliston and New Tecumseth area. Free Thermal Imaging is included with every residential property inspection.
