Let’s Talk. Step one in the buying process is talking to a realtor. We’ll start off by sitting down to discuss your objectives, preferred neighbourhoods, timelines and more. Your budget will often dictate what options are available, so one of the first things we will do is connect you with a knowledgeable mortgage specialist.

Buyers do NOT pay realtors directly to purchase a home. When you’re working with a real estate agent to buy a home, the commission is offered/paid by the listing brokerage through the MLS Listing. There are exceptions to this that will be explained when reviewing the Buyer Representation Agreement.

A Buyer Representation Agreement (BRA) is written agreement that creates an agency relationship between a Brokerage/Realtor and client. This agreement sets out the duration, and outlines duties and responsibilities of both parties. The most important aspect of a BRA is that it requires the brokerage/realtor to provide a higher duty of care to you as a client versus the general public. We are required by law to have a Buyer Representation Agreement in place, but we’re not the type of agents who will force you to sign one during our first meeting or try to ‘lock’ anyone into a contract.

Are you sitting down for this? When buying a house in Toronto typically, a deposit of 5% of the purchase price is required. For example, if you are considering a $1,000,000 home, you would need $50,000 readily available to make the deposit. Don’t worry, that money is put to good use… it’s part of your total down payment.

Depending on the situation, the deposit will either be required “herewith” (meaning with your offer submission) or “upon acceptance” (within 24 hours after an agreement is reached). Funds should be readily available in an account. And by ready we mean, not locked away in your RRSP or TSAF account. Pro-tip: if you bank with PC Financial or another online institution, you should transfer funds to another account where you can obtain a bank draft immediately, if needed. We’ve seen situations where a buyer has lost out on a property because their bank required two (2) business days to transfer funds.

Yes, but we’re here to make sure that doesn’t happen. This will depend on the circumstances and details surrounding the situation. If you have an offer to purchase a property that is conditional, for example on financing approval, your deposit would be returned to you if you’re unable to fulfill the condition provided you’re acting in good faith. If, however, you’ve submitted a firm offer to purchase and are unable to close, you will be at risk of forfeiting your deposit and possible further litigation.

You’ll hear this term used often in your real estate journey. And it’s one that will make your mortgage lender and lawyer cringe. Essentially, a firm offer is one with no conditions. No financing, no inspection…no backing out. If the Sellers accept your firm offer to purchase, you are committed. The reality of buying a home in Toronto means that you may be in a situation where a firm offer is needed, but before venturing into that territory we’ll explain the risks, review your options and determine if this is something that is right for you.

In the Toronto real estate market, it is common for offer presentations to be held on a specific date – usually about a week after the property is listed for sale. A bully offer (also known as a pre-emptive offer) is one that is presented to the Seller before the specified offer date in the hopes of avoiding the ‘bidding war’ scenario. What makes a ‘good’ bully offer? Generally speaking, a firm offer at a price that is enticing enough to make the Seller alter their plans to wait for the original offer date. We’re here to guide you through and determine if a bully offer is right for you.

The home inspection is an unbiased visual inspection of a property by a qualified home inspector. They will typically check the condition of structural and mechanical components of the home, including roof, age of windows, condition of appliances, foundation, plumbing, electrical, etc. A home inspector can use a thermal imaging camera and moisture meter to check for potential water leaks, but they are not able to open up walls or disturb the property. If they can’t see it, they can’t inspect it.

As the name suggests, a fixer-upper is a property that requires some level of upgrading. This could be as minor as cosmetic updates, like paint and flooring, or more extensive renovations, like structural work. Every house is unique. When we’re helping clients find a property we will discuss whether or not a fixer upper is an option to consider.

The day you get the keys is also known as the closing date or completion date. This date would be agreed upon in negotiations and specified on the agreement of purchase and sale document. Your closing date will vary depending on your needs and the sellers needs for moving. Average closing time for a residential property between 30 and 90 days from the time the agreement is signed.

The money must be in your account for a minimum of 90 days and up to 35k can be withdrawn tax free to use on your first place. If you are purchasing with someone, they too can use up to 35k tax free to co-purchase. Remember that the funds must be repaid into the account within 15 years of withdrawal.

If you are buying a property on your own and planning on having a non-married partner move into the unit it is important that you have your lawyer write up a cohabitation agreement to outline who owns what, what the terms are for the non-owner living there and what should happen to the property should you two decide to part ways. Another way of protecting yourself is to have a lease drawn up between you and your partner to show that they are in fact tenant to your landlordship; you can make this lease 1$ if you’d like. You can never be too careful when purchasing property and having non-married partners cohabitate.

Seasonal trends in the Toronto real estate market show properties selling for the highest prices between the months of March to June. This will depend on the property type and price point for the home you’re selling as seasonal fluctuations can have differing impacts on certain segments of the market. There may also be external factors to consider when determining the best strategy and timeline for selling.

This is a common dilemma and will depend on your circumstances. If you sell first: the advantage is this is the safer option. You’ll know exactly how much you have to spend and will avoid sleepless nights wondering if the sale of your current home will go through. The disadvantage is: in a sellers market it could take longer than you would hope to find your next home and you may need a back up plan to bridge the time gap between closings (ie. finding a short term rental or staying with family for a few months). The other disadvantage is that you may feel pressured to make a decision and settle for something that may not be quite right. If you buy first: The advantage is: you know where you are going and there is no urgency to buy, so you don’t have to settle. The disadvantage is: There are uncertainties and no guarantee that your current home will sell for the price you’re hoping for or in the timeframe you need. You need to be comfortable with the possibility of carrying two mortgages for a little while. If you’re someone who doesn’t like risk and uncertainties, sell first.

We’re obviously a little bit biased but our answer is an emphatic *Yes!*. As full service agents we spend each and every day immersed in the real estate market and are well versed in micro trends across neighbourhoods and macro trends for the market as a whole. For sellers, we feel that our marketing system speaks for itself (take a look around the website!) and is one way we’ll be making sure we provide the smoothest transaction on your sale (top dollar in the shortest amount of time). By being tapped in to the market we’ll help guide you on the best time to sell, what pricing strategy to use, and how to best position your home to the most relevant market. For buyers, the story is much the same. Bidding war? We’ll guide you on how to best position yourself to win without overpaying. Looking for something off market? We can help you there too. Want to know which condo buildings will have the best cash flow as an investment or which will appreciate in price the best? We do that too. We’ll walk you through what to look for in a home inspection, how to read a survey or a status certificate and how best to protect yourself with conditions on an offer. Real estate can be much more than falling in love with a property at the open house and as Realtors we’ll guide you through these details.

When selling a home in Toronto, there are a number of costs to take into consideration: real estate fees, legal fees, mortgage discharge fees (and potential early termination penalties), moving and home preparations.

Commissions are negotiable and will depend on the nature of the sale. The ‘going rate’ for a full service real estate transaction hovers around 5% split between the Listing Brokerage and Selling Brokerage.

This will vary depending on your property type and location, but the average Days on Market across the GTA is currently 28.

Short answer: Yes. The scale of upgrades and renovations to undertake before selling will depend on a number of factors (budget, timeline, type of property, market conditions), but without a doubt some level of preparation should be completed before hitting the market. It may just be a coat of paint and minor repairs, or it may be more extensive renovations. We’ll provide advice based on your situation, formulate a plan with our staging/design partners, and can even assist with having the work completed.

Simple: Hire The Rosati Team. Preparing your property for sale is the key to getting the best possible price. De-cluttering can do wonders. A coat of paint really does go a long way. Fixing any glaring deficiencies will eliminate buyer objections. And great staging can have buyers swooning over your property – and offering top dollar.

We take our marketing very seriously at The Rosati Team. Some may say it’s obsessive but we like to say it’s simply thorough. There are no corners cut when it comes to marketing your home. From a detailed target market analysis to fresh cut flowers and everything in between. Professional photography, virtual tours, floor plans, advertising campaigns (print, online and social media), property staging, home preparations and so much more.

Well that’s a loaded question to be answer on a FAQ page. Why don’t you give us a call and we can discuss further.