Call the "Negotiator" Lee Krepps 495-7441

Smart is when you believe only half of what you hear. Brilliant is when you know which half to believe." "Orben"     You have decided to purchase a home, or are thinking about buying one.  You'll be joining the ranks of hundreds of families who realize that home ownership offers a number of benefits including building equity, saving for the future, and creating an environment for your family.  When you own your own home, your hard-earned dollars contribute to your mortgage. The equity you earn is yours.  Over time, your home will increase in value. Carefully read the information below before proceeding. Buying Tips Now that you've decided to buy a home, revenue or recreation property in the South Okanagan, determining what specific type of neighbourhood or investment you're interested in is a good place to start. List your space needs, including: living space requirements (i.e. how many bedrooms, bathrooms) type of property (i.e. townhome, condo, rancher, acreage) proximity to schools, recreation, waterfront, views available financing target price range It's important to be realistic when you're thinking about a down payment and setting a price range. It's a good idea to talk things over with your real estate sales professional. I am here to provide you with the advice you need to make owning property in Oliver/Osoyoos and the surrounding area a reality. Once you've identified the features you want in a property, the search begins. As your Realtor, I will use a variety of tools to find properties that meet your specifications. One of the important search tools will be the local listing services which I use to provide you with all the current listings that meet your needs. I will show you properties listed with Re/Max Realty Solutions, and all other local companies. As your Agent I am here to serve and protect you. I will provide you with past sales and revenues, ensure you have seen everything in your price range and give you a full explanation of the various intricacies in the South Okanagan. I will recommend property managers, building inspectors and lawyers and notaries, knowledgeable in our area conveyances. I will explain all of the costs involved in a purchase of South Okanagan homes, condos and acreage. When you decide to tour some properties that meet your criteria, keep in mind some of the following: is the location to my liking? is the home near to schools? what are the recent sales? can I afford it? is this my dream home? if a revenue property, is my ownership limited? what is the revenue history? Once you find the property you want, I will work with you to develop an offer. In the offer, I will specify how much you're willing to pay. State when the offer expires, and suggest a closing date for the transaction. I will also insert subject conditions for your benefit. You will be satisfied with all of the conditions before you proceed to completion. Some common subject conditions are: Receiving financing suitable to you (interest rate, amount, term, amortization period etc) Receiving and approving all documents pertaining to a Strata Corporation (financials, past meeting minutes, by-laws, rules and regulations and a Form B disclosure Statement.) Receiving and approving a building inspection report. Receiving and approving independent GST advice. Receiving and approving independent legal advice regarding the State of Title. Attending at the Municipal Hall and receiving and approving all information pertaining to the property. (zoning, occupancy permit, lot size, encroachments, maximum building size, unauthorized accommodation, outstanding orders etc) Other subject clauses may include, attending at the health department to enquire about matters pertaining to septic or sewer, checking on your right to a building warranty etc. All of the subject conditions will allow time for you to be satisfied and will be removable in writing by a specific date. I will help you select the appropriate times for subject removal. You will also receive a Property Condition Disclosure Statement provided by the Sellers. This will disclose any defects of which they are aware, and basic information about the property. As your Agent it is my duty to provide you with quality service that is grounded upon the utmost care, integrity, confidentiality and loyalty. There are many costs that homebuyers incur, especially upon purchasing your first home that you should expect to pay. Some of the expenses related to buying a home are one-time costs, while others are continuing costs. Your largest cost at the beginning is your down payment. As a first time buyer, this would likely represent only 5 - 10% of the purchase price. However, you should be prepared to pay for additional costs, such as: Legal Fees & Disbursements GST and PST (if applicable) Property or Land Transfer Tax Adjustments (reimbursed to the vendor) Interest Property Taxes Utility Payments Strata or Condominium Fees Estoppel certificate fee Survey Fee Home Inspection Fee Water quality and quantity certificate Appraisal Fee Mortgage broker's fee (if applicable) Mortgage Loan Insurance Premium (if less than 25% down) Mortgage Loan Insurance Application Fee (if less than 25% down) Moving Expenses Renovations and repairs Furniture, paint, carpeting, window coverings, etc. Service and Utility Hook-up Fees Property/Condominium Insurance Mortgage Application Fee Deed and/or Mortgage Registration Fee Additionally, once you have purchased your home, you will incur regular expenses on a monthly, quarterly or yearly basis. Some of these costs include: Mortgage Payment Water and/or Sewer Payments Electricity and Gas Services Cable and Telephone Services Property Taxes Strata or Condo Fees Repair/maintenance Expenses Homeowner's Insurance   In the following reports, you'll find the information you need to make a wise buying decision.  I'll take you through the planning process step-by-step , to help you determine which home is right for you.  You'll find a host of informative articles on mortgages, viewing homes, the offer, closing details and moving. Please contact me if you have any questions about buying a home in Osoyoos/Oliver or elsewhere in British Columbia.