Brooks Findlay & Associates

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Success is not measured simply by sales, but also by relationships built. We achieve this by communicating continually with our clients, responding to their individual needs and desires, appreciating the special quality of their property, and taking a leadership role in the marketplace of selling homes in Regina.
                                                   


NEW LISTING

5111 Holash Way
Lakeridge
Regina
$574,900

 

Buying A Home
  • Step-By-Step Guide

    • You've Decided to Buy a Home!

    Buying a home is more than looking at houses. It's finding the right home, at the right price, in the right location. Hopefully, with a minimum amount of time and inconvenience. The best way to achieve these objectives is to work with a professional realtor who understands your needs and wants, your time frame and the financial boundaries to work within.

    Selecting a Sales Associate

    It is important that the salesperson understands your needs. A good salesperson will define your needs before they start to show you homes. Questions you should ask a salesperson when making your selection:

    • Will you be representing my interests?
    • Do you have access to M.L.S. information?
    • Would you provide market evidence to support the price?
    • Will you look after the details to closing and possession?
    • Can you be contacted at any time?

    A Sales Associate's Function

    • Provide information on the property.
    • Provide information on the area.
    • Negotiate a price and terms, agreeable to buyer and seller.
    • Assist in arranging a source of financing.

    Working With a Sales Associate

    Let the salesperson do the searching. The best buys are not in the newspaper ads. In fact, most opportunities are on "hot sheets" available every morning to salespeople with access to M.L.S. information. Once you connect with a salesperson they can do a more complete search for you. A salesperson will commit time to you if you will commit loyalty to them. If you play the field, you cannot expect undivided attention.

    Buyer's Contribution

    • Provide details of your property needs.
    • Describe what would be a suitable location.
    • Provide financial information.
    • Communicate your likes and dislikes on each property.
    • Commit to the salesperson.
    • Respect and perform the terms of the purchase agreement.

    Working together as a team, with a professional salesperson you respect, should achieve those objectives you seek - the right home for you.

    Establishing a Market Value

    Market value is based on what others have been prepared to pay for a similar property, under the same market conditions after reasonable marketing exposure. Market value is a fair price for both buyer and seller. It is what is called an "arms length" deal, and that means that there were no influences other than the market influencing the deal. You may of course pay more than established market value if your desire for the property warrants it. Conversely, you should not expect to pay less than established market value unless the property is being sold under duress.

    Qualifying For Your Mortgage

    Once you've made up your mind to buy a home, the first question that comes to mind is, "How much can I afford?" The financial aspects of buying a home do not need to be confusing. Your Royal LePage salesperson can arrange to have you pre-qualified for a loan before you start shopping. Most lending institutions will only allow approximately 30% of a person's income to support a mortgage. They will usually not allow more than approximately 40% of income to support a mortgage together with other debts. The amount of money you qualify for, plus the amount of cash you can put down, will equal the amount you can afford to spend on a home.

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  • Choosing a Neighbourhood

    • Choosing a Neighbourhood

    There are many factors to consider when selecting a neighborhood that is right for you. Below are just a few of the many factors. You may think of others that are important to you. Please write them on your Requirements List so they do not get forgotten.

    Scout out the neighborhood!

    It is important that you scout the neighborhood in person. You live in more than just your house. Talk to people who live there. Drive through the entire area at different times of the day -- morning, afternoon, evening and late at night, as well as going during the week and on weekends. Look carefully at how well other homes in the area are being maintained; are they painted, are the yards well cared for, are parked cars in good condition, etc.

    Neighborhood factors to consider

    Look for things like access to major thoroughfares, highways, and shopping. Listen for noise created by commerce, roads, railways, public areas, schools, etc. Smell the air for adjacent commerce or agriculture. Check with local civic, police, fire, and school officials to find information about the area. Research things like soil and water. Look at traffic patterns around the area during different times of the day and drive from the area to work. Is the neighborhood near parks, recreation centers, shopping, theaters, restaurants, public transportation, schools, etc.?

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  • Home Inspections

When to Have an Inspection

Our opinion is that an inspector should be hired for most real estate transactions. When you look at the relatively miniscule cost, compared to the size of the investment, it is hard to argue that an inspection makes a lot of sense.

Here are a few reasons why you may want to consider hiring a professional:

  • An inspector will point out maintenance and repair concerns and tips.
  • Buying a home can be stressful. Knowing you are making a quality investment reduces stress and provides peace of mind.
  • Having a safe household is important and an inspection can reveal many potential safety concerns.
  • A home, performing as it should, will allow you to get maximum enjoyment with a minimum investment of time and money.
  • Homes are being constructed in record time. Builders are required to fix deficiencies however you need to be able to identify them.

Choosing an Inspector

All home inspectors are not created equal. There are several characteristics and qualities that you should look for when choosing a home inspector.

Is the inspector professionally trained? Inspectors come from many varying backgrounds however you need to ensure they have a well balanced portfolio of knowledge which is ideally obtained through specific training.

Is the inspector a member of The Provincial Association of Certified Home Inspectors? Membership in this association ensures the inspector has met minimum knowledge requirements and carries necessary insurance to protect you if there is a problem.

Is the inspector a good communicator? There are many technical details to house construction and systems. The inspector needs to be able to decipher this for you and communicate it in simple language.

What is the fee for the service? be wary of inspectors who charge exceptionally low rates to obtain business.

Talk with a prospective inspector and ask lots of questions

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Mortgages
  • Information About Mortgages

    • Get a pre-approved mortgage certificate
    A pre-approved mortgage certificate is a written commitment that you will get a mortgage for a set amount of money, at a specific rate of interest that is guaranteed for 60 to 120 days, depending on the financial organization you choose. The commitment is made subject to a financial assessment and property appraisal. The service is free and without obligation.

    Why is it a good idea to get a pre-approved mortgage?
    A pre-approved mortgage gives you an edge. Before you even go house hunting, you will know the size of your mortgage, the interest rate, and the size of your monthly mortgage payments. With your financing already mapped out, you can concentrate on finding the right home in your price range.

    A pre-approved mortgage also puts you in a strong bargaining position when you make an Offer to Purchase. If the seller wants to make a quick sale, you may be able to negotiate a price lower than the list price, because the seller knows that you are a serious buyer. On the other hand, if several people are bidding on the home you want, you may decide to offer to purchase at the list price, to beat out earlier offers.

    Making an Offer to Purchase
    When you find the home that's right for you, your next step is to make an offer to purchase the home from the current owner. The owner can accept your offer, make changes to the offer and present you with a counter-offer, or reject the offer.

    The Offer to Purchase
    The Offer to Purchase is a legally binding agreement between you and the person selling the house. It's a good idea to have your lawyer review the offer with you before it is presented to the seller. It sets out:

    • Your name.
    • The seller's name.
    • The address or legal description of the property.
    • The price you are prepared to pay for the home.
    • The items you expect to be included in the purchase price.
    • The amount of your cash deposit.
    • Your financing arrangements, such as your mortgage.
    • The closing date.
    • Specific terms or conditions that must be met as part of the purchase.
    • A time limit for meeting these conditions.

    Discuss the Offer to Purchase with your lawyer before you sign it. Remember, it becomes a legally binding agreement the moment it is accepted. If you decide to cancel an offer that has already been accepted, you could lose your deposit and the person selling the home could sue you for damages. If the seller does not accept your offer, your deposit will be returned.

    When your offer is accepted
    Your offer has been accepted. Good. You're now in the home stretch - finalizing the details of your mortgage and closing the purchase of your new home. Call your assigned Mortgage Specialist. Your Mortgage Specialist will need to receive the following documents and information:

    • A copy of the real estate listing.
    • A copy of the accepted Offer to Purchase.
    • Information on the source of your down payment.
    • Income verification if you are employed.
    • A letter from your employer verifying your place of employment and income, or T4s and Notice of Assessment, or T1 General Tax Return and Notice of Assessment.
    • Income verification if you are self-employed.
    • 3 years of Financial Statements and 3 years of Notice of Assessments, or 3 years of T1 General Tax Returns and 3 years of Notice of Assessments.

    Processing the mortgage application
    Your Mortgage Specialist will want to verify the value of the property you are buying, your current financial picture and your credit history, so a property appraisal and credit report will be ordered.

    Also, if your down payment is less than 25%, you qualify for a high ratio mortgage on which you would have to pay insurance premiums. You decide whether you want to pay the premium in cash or have your lender add it to your mortgage amount. Your Mortgage Representative can contact Canada Mortgage and Housing Corporation (CMHC) or GE Capital Mortgage Insurance Company of Canada (GEMI) to make the arrangements.

    Be prepared to pay fees for the mortgage application, credit report and property appraisal.

    Closing the purchase
    Closing day is the day you become the official owner of your home. However, the closing process usually takes a few days.

    Typically, you visit your lawyer's office to review and sign documents relating to the mortgage, the property you are buying, the ownership of the property and the conditions of the purchase. Your lawyer will also ask you to bring a certified cheque to cover the closing costs and any other outstanding costs.

    Once your mortgage and the deed for the property are officially recorded, you become the official owner of the property.

    Congratulations! You've just bought a home!

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  • Calculate Mortgage Payments
Determine What You Can Afford!
If you're thinking of buying a home, transferring your mortgage, or refinancing your existing mortgage, try this calculator to see how much you can afford. (Please do not use commas.)
Annual Income:   $
Monthly Debt:   $
Please Note: Your monthly debt includes car payments, credit cards, student loan payment etc.
Cash in hand for down payment:   $
Interest Rate (%):   $
Length of Loan (years):   $
 
Based on a maximum monthly payment of $ , you can afford to buy a house that costs up to $ .
 

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Documents to Download

Please fill out this form and we will email you the Exclusive Seller's Brokerage Contract, theData Input Form
or the Residential Contract of Purchase - or all three forms.


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Exclusive Seller's Brokerage Contract
Data Input Form
Residential Contract of Purchase
   

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Selling Your Home

70 Easy Ways to Prepare Your Home For Sale

If you are thinking of selling your home there are a number of things you can do to improve the overall impression made by your home.

But first, you must learn to look at your home through the eyes of the buyer.

This article contains tips on things you should be looking for when evaluating your home through the eyes of the buyer. Most of the suggestions are no-cost or low-cost improvements and this early investment in your home's appearance really pays off when selling the home.

  1. Create a positive mood. Turn on all lights, day or night. Open the curtains during the day. Install higher watt light bulbs to show your home brightly—in its best light. Turn on all lights.
  2. Remove all clutter from each room to visually enlarge them.
  3. If you have a fireplace, highlight it in your decorating and have it burning in the winter or on cool days.
  4. Keep your home dusted and vacuumed at all times.
  5. Lightly spray the room with air freshener so that it has a chance to diffuse and air before the buyer arrives.
  6. Make sure that beds are made and the linens and curtains are fresh and clean.
  7. Organize your closets, remove unnecessary items and put them in storage.
  8. Bathrooms should always be kept spotlessly clean.
  9. Do not leave towels around and wipe down the shower areas after each use.
  10. Recaulk if the caulking is not sparkling white!
  11. Put out fresh towels and decorative soap for showings.
  12. Set the scene by setting the table! Highlight the potential of your dining room by setting a grand dining table!
  13. The kitchen should always be kept spotlessly clean.
  14. Expand your counter space by removing small appliances.
  15. Shampoo all carpets and vacuum them daily.
  16. Remove all grease from range hoods, ovens, stove tops, walls, etc.
  17. If you have numerous family photo's put them away until your home is sold. Perspective buyers will feel more like it can be their home if they aren't aware of your family photo memories.
  18. Remove all unnecessary items from the attic, basement, garage, tool shed, and especially from the storage area if you have one.
  19. Rent a storage area for these extra items or have a yard sale.
  20. Invest in a new door mat.
  21. Make sure the front door, storm door, screen door, etc. work wonderfully!
  22. Wash all windows, inside and out.
  23. Curtains should be fresh, clean and attractive.
  24. Clean all light bulbs, light fixtures and chandeliers to brighten the home.
  25. Remove all smoke odors, pet odors, and odors resulting from hobbies.
  26. Remove posters and adhesive from walls and doors and putty any holes resulting from nails or other mishaps and paint.
  27. Depersonalize teenagers rooms and decorate in a neutral temperament.
  28. Clean or paint the basement walls and floor.
  29. Paint all inside walls with off-white paint. Use two or more coats to cover bold, bright or dark walls.
  30. All walls should be painted, not just washed. This will brighten the home and make it look bigger.
  31. Repair or replace banisters and handrails.
  32. Repair or replace broken tiles on walls, floors or in showers/tubs.
  33. If the basement shows any signs of water or structural damage it may be necessary to obtain a structural engineer's report.
  34. Replace all toilet bowls if you cannot get them spotlessly clean.
  35. Replace shower curtains and keep them clean.
  36. Replace the washers in faucets and remove rust stains form basins.
  37. Water and prune all plants.
  38. Use plants in transitional areas of your home between inside and out.
  39. Remove any excess extension cords and exposed wires.
  40. Open doors to areas you want the potential buyer to see such as walk-in closets, pantries, attic, basement, etc.
  41. Close all other closet doors and cabinets.
  42. Make the basement as pleasant as possible by airing it out, and decorating if possible.
  43. Add visual appeal to stairways, especially in unfinished stairways to the basement.
  44. Keep the yard mowed, raked, fertilized and watered at all times!
  45. Trees and shrubs should be pruned and trimmed.
  46. Lawns and gardens should be weeded at all times.
  47. Use flowering plants to dress up the yard, walkways, and patio.
  48. All hoses and garden equipment should be neatly out of sight.
  49. Outdoor furniture should be kept clean and/or repainted if necessary.
  50. Paint and repair the mail box or replace it if necessary.
  51. Make all those minor repairs to the exterior.
  52. Paint all entrance doors.
  53. Shades and awnings should be in good condition. Replace if the color has faded. Remove windsocks.
  54. In the summer create an outside living space with furniture and plants.
  55. Highlight your pool area, water garden, etc. with lighting, benches, planters, flowering plants, etc.
  56. Take pictures of your flowering mature landscaping now if you are planning to sell your home in the winter.
  57. Clean and shine all accessories (door knobs, knockers, lamps, mail boxes, address numbers, etc.).
  58. Clean, repair and paint all gutters and downspouts.
  59. All roof shingles, tiles, etc. should be secured or replace. If the roof leaks — Fix It!
  60. Make sure the garage door opens easily. Fix and paint the garage door if
    necessary.
  61. Paint chimney and replace broken bricks or stones.
  62. An investment in painting your home can really make the difference between “turning on” the buyer and sending up a red flag about the condition of the home.
  63. In the winter make sure all driveways and walkways are clear of snow and well salted.

    Some final things you can do to help your home sell quickly:

  64. Arrive at a fair asking price using an appraisal.
  65. Don't be afraid to accept the first offer.
  66. Never volunteer information.
  67. Obtain a floor plan of your home if possible.
  68. Assemble house records for buyer perusal.
  69. Provide a map of the area and highlight special interest items.
  70. Only consider written offers by lender-prequalified buyers

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For Sale by Owner
  • Quick Quiz

    • FSBO Quick Quiz

    If you're thinking of selling your home yourself, ask yourself these vital questions before you put your house on the market.

    1. Do you understand all of the legal requirements for selling a home in your area?
      Laws vary from province to province and can change yearly. And buyers can cause problems if you haven't protected yourself with the proper warranties and seller disclosures.

    2. Are you in a hot market?
      If not, you're up against a lot of competition. And most other home-sellers have professionals working for them.

    3. Are you willing to give up your weekends and evenings waiting for buyers to show up?
      Buyers keep their own schedules and often want to see your home when it's least convenient for you. If you have a sign out front, be ready to drop everything and show your home to people who stop in without an appointment.

    4. Do you know how to weed out the lookers from the buyers?
      Many people who want to see your home aren't even remotely qualified to buy it. They'll just waste your time.

    5. Do you know how to handle tough negotiations?
      When you get an offer that's lower than you want, with terms you don't understand, be prepared to make a reasonable counter offer-or risk losing the sale.

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  • Why Do FSBO's Net Less?

    • Why Are FSBO's Offered Less Money?

    • Buyers know the seller is not paying commission.
    • FSBO properties attract bargain hunters and speculators.
    • Buyers, unsure of property values, will offer less.
    • Buyers have no one to help them make a decision.
    • FSBO properties have less exposure to potential buyers.

     

    STUDIES SHOW THAT 91% OF FOR SALE BY OWNERS
    EVENTUALLY EMPLOY AN AGENT, AND OF THE OWNERS
    WHO SOLD THEIR OWN PROPERTIES, 90% WOULD HAVE
    NETTED MORE HAD THEY USED AN AGENT.

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  • Frequently Asked Questions

FSBO Fifteen Frequently Asked Questions

1. What questions will buyers most likely ask me when they look at my house?
Buyers want to know about room sizes, history and age of the house, warranties, downpayment money needed, contract format, financial help, title information, and any inclusions/exclusions.

2. What questions should I ask potential buyers as they are looking at my house?
Ask buyers if they have a home to sell, their closing dates, and how they'll handle the deposit, down payment, method of financing, and necessary financial qualifications to buy your home.

3. How do I determine the price for my home?
Research the selling price for all homes recently sold in your area. This helps you determine a fair market price. Be sure to judge your home's value against homes of similar size with like amenities.

4. Isn't it true that I will save the commission if I sell it myself?
Most For Sale By Owner sellers believe this. However, only eight to 12 percent of all buyers buy from owner sellers. And these buyers are well aware that they save the commission, so they always bargain for the difference, and sometimes for more. These bargain hunters are out for a "steal," and they can be intimidating negotiators.

5. It will be easy to sell my home in my spare time, don't you think?
Buyers call at any possible time-not just on evenings and weekends, when you're home from work. Actually, they tend to call most during regular business hours.

6. What are my best sources for buyers?
The single best source for buyers is an agent; 88 to 92 percent of all buyers use REALTORS®.

7. What should I say during the showing of my home?
It's best to say as little as possible during showings. Allow people to wander through and imagine their families and belongings in your home. Only answer questions and point out warranties, benefits, and inclusions, when appropriate.

8. If I list with a REALTOR®, won't I be bothered with a lot of people?
There will certainly be more people looking at your home, but you should look at this as a positive thing if indeed you want to sell your home.

9. What do I need to know about the written real estate contract?
Real estate contracts have protections for both buyers and sellers. They also have four areas of specialty: financing, contingencies, inclusions/exclusions, and important dates.

10. What happens during the contract negotiations?
Contract negotiations need to be as professional and unemotional as possible, or the deal could fall through because of angry differences of opinion.

11. How can a REALTOR® negotiate better than me? After all, I know my home best.
A REALTOR® is a third party, thus, unemotional about the home. He or she is also trained in negotiating home sales. Additionally, he or she may be able to impress upon your buyer the value of your home in a way that the buyer might distrust coming from you.

12. What do I need to do between contract and closing?
Again, this is covered by numerous checklists and reminders from REALTORS® for their clients.

13. How can a REALTOR® actually save me money?
REALTORS® have a greater ability to negotiate and impress upon buyers the fair market value of homes. Because of this, REALTOR®-sold homes sell for nine percent more money than owner-sold homes. Since the difference is more than the REALTOR® commission, you receive more money for your home.

14. How often do FSBO's give up and turn to REALTORS®?
Eighty-eight to 92 percent of people attempting to sell their homes on their own eventually turn to the services of a REALTOR® out of frustration with the amount of work involved, the lack of response, and the financial complexities of such a transaction.

15. What final advice can you give me?
It is only through knowledge that good decisions are made, so you owe it to yourself to investigate the possibility of working with a REALTOR®.

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The above information is from sources believed to be reliable but should not be relied upon without verification. Rock Bridge Realty Ltd. assumes no responsibility for its accuracy, buyer assumes all risk.