TABLE OF CONTENTS
INTRODUCTION PART I – LAYING THE GROUNDWORK THE PRODUCT THE MARKET ENVIRONMENT
Buyer’s Market / Seller’s Market / Balanced Market / Determining The State of The Market PART II – THE SELLING PROCESS ONE: ISSUES FOR THE SELLER
The Need to Sell / Mortgage Status / Current Home Condition / Cost of Selling TWO: ESTIMATING VALUES & THE DECISION TO SELL
Steps to Reaching an Estimate / Calculation of Estimated Net Proceeds of a Sale / Mortgage Eligibility / Drawing Conclusions / The Decision: To Sell? or Not Sell? THREE: LET’S LIST!
Timing / Private Sale? Or Retain A Realtor? / The Realtor Selection Process FOUR: THE LISTING AGREEMENT
Listing Price / Listing Duration / Commission Structure / Chattels and Fixtures / Signatures and The Property Condition Disclosure FIVE: YOUR RESPONSIBILITIES
Preparation for Sale / Staging Your Home / Standing By for Showings / Open Houses / Contact Availability / SIX: THE MARKETING PROCESS
Signage / Floor Plans / Photographs / Website / Brochure / Advertising SEVEN: THE MARKET REACTION
The First Two Weeks / Frequency of Showings / Realtor Feedback / Early Positive Signals / Early Negative Signals / Price Adjustment? EIGHT: THE OFFER!
Understanding The Offer / Price / Deposit / Inclusions / Completion, Possession, and Adjustment Dates / Conditions of Offer / Time Frames for Acceptance / Responding to The Offer NINE: THE ROAD TO ACCEPTANCE
Removal of Conditions / Inspection Results / Extension of Date for Condition Removal / Firm and Binding Agreement! / Conveying Title / Vacant Possession THE SELLER’S 10-MINUTE SUMMARY PART III - THE BUYING PROCESS TEN: THE DECISION TO PURCHASE
A Good Time to Rent? / The Case for Buying a Home / Size of Mortgage ELEVEN: ISSUES FOR THE BUYER
The Market Environment / Defining Your “Needs” / Defining Your “Wants” / Your Budget / Realtor or No Realtor? TWELVE: SELECTING A REALTOR THIRTEEN: YOUR SEARCH
Your Approach / Narrowing The Focus FOURTEEN: YOUR OFFER
The Price / Deposit / Inclusions / Dates / Seller’s Covenants / Conditions FIFTEEN: THE NEGOTIATIONS SIXTEEN: SATISFYING THE CONDITIONS
Buyer’s Conditions / Seller’s Conditions / Buyer’s Inspection Condition / Selecting a Home Inspector / Inspection Process / Buyer’s Financing Condition SEVENTEEN: THE DEAL IS MADE!. EIGHTEEN: THE FINAL DETAILS THE BUYER’S 10-MINUTE SUMMARY PART IV – ADDITIONAL INSIGHTS
Agency Relationships
More on Mortgages
Buying Mortgage-Free
The First-Time Home Buyer
Buying or Selling a Strate Home
Buying A Newly-Constructed Home
Your Home as an Investment POSTSCRIPT APPENDICES
1. Realtor Rating Worksheet
2. Commission Side Letter
3. Calculation of Net Proceeds of Sale
4. Gross Debt Service Calculation
5. Total Debt Service Calculation
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A FEW TIPS FROM THE NAKED HOMEOWNER
- FOR THE FIRST-TIME BUYER -
- A person OR couple may borrow up to $20,000 EACH from their RRSP, to be used toward the down payment on their first home. The borrowed amount must be repaid over 15 years (at least 1/15 annually) beginning in the second year after the withdrawal was made.
Note that the definition of a first-time buyer is any person or spouse
or common-law partner who has not owned a home in the period beginning
January 1 of the fourth calendar year preceding the year of withdrawal from an
RRSP.
The effect of the above definition is that, as long as you have repaid the
previous borrowing from your RRSP, you may qualify more than once as a
first-time buyer, and can again borrow from your RRSP for a down
payment!
- Some provinces like British Columbia impose a property transfer tax on every real estate purchase. This can be by far the most significant closing cost in a real estate purchase transaction.
Fortunately, the first-time buyer MAY be eligible for a one-time exemption.
For example, in British Columbia, as of 2007, any first-time purchaser
buying a home in Greater Vancouver, the Fraser Valley, or Victoria areas of
the province, may be exempt from this transfer tax, if the value of his
purchase does not exceed $375,000. In other areas of the province the
exemption threshold falls to $265,000.
THE NAKED HOMEOWNER is full of helpful tips for every home buyer or home seller in Canada.
BUY AND READ THE NAKED HOMEOWNER BEFORE BUYING OR SELLING and take the mystery out of the process!
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Real Estate Guide
The Naked Homeowner
Concise step-by-step understanding of the residential real estate market.
Author Peter Dolezal
paperback (softcover)
ISBN 1-4251-2521-2
Published by:
Trafford publishing
 Email Peter
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