The Property Buying Process

Purchasing a property is one of the biggest decisions a person makes in their lifetime. Make sure you understand the Property Buying Process.

 

We provide all the tools to make it a stress-free experience with our step by step Property Buying Process walkthrough.

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FREE Monthly Buyers Workshop

 

Please join us at our free monthly buyers workshop. We walk you through all of the steps that go into the home buying process as well as discuss the health and outlook of the market and introduce you to the best mortgage team and real estate lawyer in the business. Did I mention there is wine and cheese?

STEP 1: GET PRE-APPROVED

GET PIECE OF MIND AND A SOLID UNDERSTANDING OF YOUR BUDGET BEFORE STARTING YOUR SEARCH.

A pre-approval is the foundation needed to start your property search. Having been pre-approved strengthens your offer and helps you understand what you can afford. Most of all, it gives you peace of mind that once you find a property that you love, you will be able to get the financing you need to purchase it. In addition to the above reasons, being pre-approved allows you to focus in on the properties within your budget and can save valuable time for you and your Realtor. At any given moment, there are hundreds of properties available for sale, and without a tight focus you may miss out on something special.

NO MORTGAGE BROKER? DON’T WORRY, YOU’RE COVERED.

THE LANG TEAM

With over 60 years of combined experience in banking, financial services, and home financing advice, The Lang Team is uniquely positioned to help you achieve your real estate financing goals, with a focus on finding the right solution to help you build long-term wealth and make you mortgage-free sooner.

STEP 2: FIND YOUR REALTOR

THINK OF THEM AS YOUR PERSONAL GUIDE THROUGH YOUR BUYING JOURNEY.

The Toronto real estate market is complicated and competitive. With the demand for homes and condos steadily rising, it’s important to ensure that you partner yourself with an expert who understands the industry, skilled in crunching numbers, and is an expert negotiator. You’ve come to the right place for that!

DRIVEN, EXPERIENCED, AND EXPERTLY TRAINED.

Jenna and Gregg consistently go above and beyond for their clients, and are highly experienced with the latest real estate technologies, negotiation strategies and more. Click below to get to know them better.

STEP 3: START YOUR SEARCH

GET DREAM HOMES DELIVERED TO YOUR INBOX, DAILY.

Aside from our all inclusive search tool, our property updates program sends you listings based on your criteria straight to your inbox, as soon as they become available. In addition to this, your agent will always be on the lookout for exclusive off market properties and new developments that might be of interest to you.

Every property search should start with THIS service.

 

Get automatic property updates sent directly to your inbox, before anyone else.

SEARCH ALL TORONTO PROPERTIES

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STEP 4: ASK THE RIGHT QUESTIONS

THERE IS MORE TO PURCHASING A PROPERTY THAN THE PRICE. ASKING THE RIGHT QUESTIONS IS KEY TO ENSURING A SMOOTH PROCESS.

You may have narrowed down on your new home, but whether you’re purchasing a house or a condo there are things you should ask the seller or developer before signing your name on the dotted line. See below for a few of our most frequently asked questions.

HOUSE

I’m looking to purchase a century home in relatively good condition, but I’m weary of old electrical work/plumbing. What do I need to know?

Many older homes were built with “knob and tube” wiring and require fuses. These homes are more difficult to insure, and it can be quite costly to replace/modernize the entire home’s wiring. Same goes for plumbing – when was the last time things were renovated or replaced? Make sure to ask!

There is no garage in the house I’m interested in purchasing.

There are various forms of parking, and in the city it comes at a premium. Street permit parking, attached and detached garage parking, and shared parking pads are all options and can effect the value of a property. Understand what you your needs are, and what you are getting. Close to the streetcar/subway line? Short commute to work? Ditch the car and look into a Zipcar membership!

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CONDO

I’m interested in a buying pre-construction unit as an investment, and eventually moving in myself. However, I’ve heard mixed reviews about the builder.

Do your research (your Realtor is a great resource!). Not all buildings are created equal. Choosing a property built by a reputable developer can save you headaches with issues down the road. In addition, “trendy” buildings tend to build up a following and are easier to sell in the future.

The building I’m looking to buy in is beautiful, but the maintenance fees are steep. What do they usually cover?

Maintenance fees are costs that cover the cleaning, repair and upkeep of a building as well as amenities such as concierge and exercise room. This does not include any maintenance of your actual unit (heat, hydro etc.). A wide variety of amenities might seem enticing but if you aren’t going to use them you may want to avoid buildings with too many.

MORE QUESTIONS?

 

NO PROBLEM! YOUR NUMBER ONE RESOURCE FOR ALL YOUR FIRST TIME BUYER, INVESTMENT AND PRE- CONSTRUCTION QUESTIONS IS JUST BELOW.

STEP 5: DOWNLOAD OUR BUYERS GUIDE, FREE!

OUR BUYERS GUIDE INCLUDES

A step by step outline of the process for buying Toronto real estate.

Surveys to help you narrow down your needs

Information on first time buyer benefits

Our trusted third-party contacts

A glossary of need to know real estate terminology

Tips on buying pre-construction, features to consider and more!

Buying Toronto Real Estate buyers guide

GET ACCESS TO OUR BUYERS GUIDE AND ALL OF OUR BUYING RESOURCES.

 

Our buyers guide is the absolute best tool to help prepare you for the home buying process. We also introduce you to all the best people that you will need along the way.

STEP 6: READY TO SEAL THE DEAL? FIND A LAWYER

A REAL ESTATE LAYWER NOT ONLY OFFERS LEGAL SERVICES, BUT PEACE OF MIND WHEN NEGOTIATING AND CLOSING A TRANSACTION.

Real estate deals can take many different forms, some more complicated than others. Your lawyer is there to make sure that you and your money are protected no matter what. Like many professions, there is a large disparity between the quality of many real estate lawyers and finding a good one can be difficult. Ask your Realtor for a referral if you don’t currently have a lawyer. We recommend that any lawyer you hire have adequate experience with the type of property you are buying, and they should absolutely have a focus in real estate.

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NO LAWYER? NO WORRIES.

JONATHAN HACOHEN – KORMANS LLP

Jonathan was called to the Ontario Bar in 2002, graduated from Osgoode Hall Law School in 2001 and completed his Bachelor of Business Administration at The Schulich School of Business (York University) in 1998.

Before joining Kormans LLP, Jonathan practiced as an Associate with a boutique real estate law firm in North York with a focus on real estate law. Jonathan articled and practiced as an Associate with a large Bay Street law firm as part of their Real Estate and Banking groups. Jonathan was fortunate as part of a secondment to work in-house at Tim Hortons (TDL Group) for almost a year. Jonathan was also an Associate for a number of years with a full-service law firm in Vaughan as a member of the Real Estate and Corporate departments.

CLIENTS LOVE BUYING WITH THE REAL ESTATE HOUSE. WANT PROOF?

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