Nancy J

McNay

personal real estate corporation*

250.423.8882

nancy@nancymcnay.com

1602 9th Ave Box 2852 Fernie, BC V0B 1M0

250.423.8882

nancy@nancymcnay.com

1602 9th Ave Box 2852 Fernie, BC V0B 1M0

Buyer Information

Buying a home can be a bit overwhelming. There’s so much to think about and do. So, it’s important that you have someone you can trust to make the process as smooth as possible and offer expert advice.

Since 1913, eXp has been helping Canadians find their dream homes and guiding them every step of the way – from determining what you can afford and showing you homes that match your wants and needs to presenting an offer and closing the sale.

It’s all about helping you find the right home in the right neighborhood at the best possible price. Below, you’ll find it all outlined in eight simple steps.

Step 1: Deciding to Buy a Home

To buy a home, you need to be prepared and we are here to help you. Here are a few things to consider:

• Define your needs and wants – make a list of the things you simply can’t live without, like the number of bedrooms and bathrooms your family needs, proximity to schools and work, or storage needs. Then list some nice-to-haves: maybe a pool or deck, finished basement or mud room. This will help you further down the road when you start looking at homes

• Brush up on types of home ownership – make sure you know the difference between freehold (it’s all yours), condo (you take care of the inside and pay fees to an association to look after the common areas and maintenance) and co-op (similar to condos but instead of “owning” your unit, you buy shares in the whole building and pay maintenance and repair fees)

• Understand market conditions – supply and demand can change from neighbourhood to neighbourhood, region to region. So, getting to know the market can help you get more bang for your buck. And so can your Real Estate agent

Step 2: Choosing a Real Estate Agent

Buying a home is personal and emotional. So the relationship with your real estate agent has to be built on expertise, trust and mutual respect. After all, they will be acting as your eyes, ears and voice throughout the process. They have a fiduciary duty to act in your best interests, to be completely transparent and accountable to you.

Step 3: Understanding Home Financing

Like many things in life, planning ahead is the key to success. So, you should know the price range you can afford before you start shopping. Here are a few things to keep in mind:

• Down payment – this is usually the percentage of the total cost of a home that you’ll need to pay. The more money you put down, the more money you’ll save on monthly payments and, in the long run, interest paid

• Knowing what you can afford – how much house you can afford comes down to 3 factors: your monthly mortgage payment, your down payment and the amortization period or length of time it will take to pay off the loan

• Getting pre-approved – this will really help you figure out what you can spend on a home because you’ll know before you start shopping. And you’ll be protected against rising interest rates as well

Step 4: Finding the Right Home to Buy

Choosing the right neighbourhood – Do you need to be close to schools, public transit, highways or where you work? These and many other factors can be huge when choosing an area to live.

House hunting – the hunt can be a lot of work but it can also be a lot of fun. So when you visit homes, go with a partner – spouse, parent, friend – because two sets of eyes are better than one. 

View open houses with open eyes – curb appeal is one thing but try not to focus on the bells and whistles. Keep a lookout for things like doors and windows (are they new/old?), water leaks, squeaky floors, etc. A home inspection will also be a factor later on.

Step 5: Making an Offer on a Home

You’ve fallen in love. But it’s important that you don’t let your emotions get the better of you when making an offer. Remember, real estate is an investment. Fortunately, your real estate agent is there to help you put together an Offer to Purchase and discuss all the details. Here are a few things you should know:

• Not all offers are the same – the main factors on most offers will include price, deposit, terms (which includes financing details), conditions, specific items that are included or not with the home and the closing date

• Negotiating may come into play – the seller will either accept your offer, reject it or make a counter offer based on things like price, closing date or other conditions. While receiving a counter offer may be unsettling, know that your real estate agent has plenty of experience to help you. 

Step 6: What to do Before Buying a House

In addition to your real estate agent, you will now need to bring in a few pros to help get you to the finish line and make sure the investment you’re about to make is sound. Your real estate agent can put you in touch with these people and make recommendations. Here are a couple of key people you should be talking to:

• A home inspector – an absolute must in saving you from some unpleasant surprises later on. 

• A legal professional – when it comes to complex legal documents, it takes a lawyer experienced in Canadian real etsate law to help make sure that you and your investment are protected.

Step 7: Closing on a Home

Closing day is the day you officially take ownership of your new home. It’s an exciting time for sure. But there are a couple of details you need to keep in mind before you get handed the keys:

• Closing costs – these fees need to be paid by or on the closing day and include mortgage application fees, inspections, legal fees, insurance, registration and more.

All these costs might make your head spin. But you can take solace in the fact that your real estate agent will be a great help in managing all of this and get you to your last step…

Step 8: Moving into Your New Home

The day has arrived. And there will be as much excitement as there will be sore backs. But you can take the pain out of moving day by planning ahead. Here are some tips for a smooth move:

• Make a moving checklist that details a plan for things that need to be done weeks before you move all the way up to moving day itself

• Plan for packing by clearly labeling boxes with the rooms they are to go to. You might even want to provide a small floorplan for the movers so they know exactly where to take them

• Inform your key contacts – work, Canada Post, doctors, friends, pharmacy, etc… – of your change of address

Seller Information

It’s a bit of a science actually. You want to get the best price, but you can’t be out of line with market conditions. What to do? Start by being as informed as you can and by choosing an experienced agent who knows your neighbourhood inside out.

Since 1913, eXp has been helping Canadians sell their homes and guiding them through every step of the process. From showing you how to increase the appeal of your home and setting a price that will maximize your profitability to discussing offers and closing the sale. Below, you’ll find it all outlined in eight simple steps.

Step 1: Deciding to Sell your Home

Everyone has their own reason for selling their home. One thing, however, is universally true: the desire to get as much as you can for your home. There are a lot of ways you can add value that you might want to consider, such as:

•  Renovating – this can be something as simple as freshening up the walls with a coat of paint or updating your door knobs and lighting with more contemporary styles all the way to major renovations like installing a new kitchen, bathroom or hardwood floors.

•  Enhancing curb appeal – first impressions mean a lot. Which is why you want your home looking its very best when a potential buyer is standing at the bottom of your driveway or simply passing through the neighbourhood.

•  Getting a home inspection – the last thing you want is for the deal to fall through due to an unpleasant surprise. It’s also highly likely that the buyer will ask for a home inspection anyway. 

Step 2: Finding a Sales representative to Sell Your House

Now that you’re ready to sell, the next thing you should do is list your home with a real estate agent. Because the reality is, selling a home involves a great deal of research, paper work, effort and most importantly, trust. Ideally, you should seek out an agent that has a good knowledge of your neighbourhood and local market trends. A good agent will provide a wealth of knowledge and breadth of services that will help you accomplish your goals.

Step 3: Listing Your Home for Sale

Your home is about to make its big debut on the market. And there’s more to it than sticking a sign on your lawn and doing an MLS listing. Establishing a home’s true worth can be tricky. A Royal LePage agent will be there to make sure your home is poised for success. Here’s how they can help:

•  Set a price – this isn’t as easy as you might think. Price your property too high and buyers won’t be motivated. Price it too low and you stand to lose thousands.

•  Market your home – no matter how well your home is priced you will need a sound plan to attract buyers. That’s where your Royal LePage agent will offer invaluable experience.

Step 4: Home Staging Tips

The way your home looks to prospective buyers can make a striking impression. The goal is to get buyers to feel like they can already see themselves living in your home. There are a few tricks of the trade that can help you do this:

•  Home staging – this literally means, getting your “set ready” for buyers. In other words, cleaning your home from top to bottom including carpets and drapes, kitchen and bathroom tiles, walls, ceilings and trim. 

•  Prepping for an Open House – a successful open house is key for generating quick interest in your home. Some last minute tips? Make your rooms bright and airy by opening blinds and windows and turning on lights in darker rooms.

Step 5: Reviewing and Accepting an Offer on your Home

Not all offers are created equal. Fortunately, your real estate agent is there to help you review an Offer to Purchase and discuss all the details. Here are a few things you should do:

•   Get to know the terms – the main factors on most offers will include the price the buyer wants to pay, details about the offer and financing as well as any conditions, inclusions or exclusions the buyer wants to make contingent on the closing.

•   Review every detail – it’s not just about price. The buyers may have asked for other things to be included like appliances, draperies or chandeliers.

Step 6: Negotiating and Counter Offers

Perhaps the price was lower than you were expecting. Maybe the buyers have asked for some extra inclusions. In some cases, you may have multiple offers from different buyers to entertain. This is one stage where you’ll be glad to have a Royal LePage agent by your side to help. Here are some things to consider now:

•   Counter offers – take a good look at what the buyer is asking for, then ask yourself, “Is it worth losing a sale for a minor inclusion like a rug or drapery?” Maybe not. So, the best strategy is to have one.

•   Multiple offers – you may be in the situation where you receive offers from several buyers. Now, you have the opportunity to compare and decide which offer, based on price and conditions best suits you.

Step 7: Home Closing Process

Closing day is the day you officially take ownership of your new home. It’s an exciting time for sure. But there are a couple of details you need to keep in mind before you get handed the keys:

• Closing costs – these fees need to be paid by or on the closing day and include mortgage application fees, inspections, legal fees, insurance, registration and more.

All these costs might make your head spin. But you can take solace in the fact that your real estate agent will be a great help in managing all of this and get you to your last step…

Step 8: Home Moving Tips

The day has arrived. And although there’s bound to be a bit of sadness about leaving your old home behind, there will be just as much excitement moving into your new one. Here are some tips for a smooth move:

•   Make a moving checklist that details a plan for things that need to be done weeks before you move all the way up to moving day itself

•   Plan for packing by clearly labeling boxes with the rooms in which they belong. You might even want to provide a small floorplan for the movers so they know exactly where to take them

•   Cancel your cable and utilities and transfer any rented appliances (like water heater or furnace) to the new home owners. While you’re at it, make sure to have the gas, electricity, cable and phone hooked up at your new home

•   Inform your key contacts – work, Canada Post, doctors, friends, pharmacy, etc… – of your change of address

•   On moving day, plan an easy meal like picking up some take-out. Moving is stressful enough without having to cook.