| NADLAN Realty Ltd - Real Estate and Mortgage Brokerage. |
| BUYERS INFORMATION |
Most important for you and for us is Client Testimonials
Link for Free Reports for Buyers
What we SOLD ? residential re-sale and from builders plan pre-constructions and during construction
| NADLAN TIPS |
Bidding without sufficient information What price do you offer a seller? Is the seller’s asking price too high? Is it a deal? Without research on the market and comparable homes, you could lose thousands of dollars. Before you make that offer, be sure you have researched the market. Broker like myself, can offer an unbiased opinion on the value of a home, based on market conditions, condition of the home and neighborhood. Without knowledge of the market, your offer could be too much. Or worse, you could miss out on a great buying opportunity.
Buying a mis-matched home What do you need and want in a home? clearly identifying your needs and bringing an objective view to home shopping. Sometimes, home buyers buy a home that is too large or too small. Perhaps they didn't’t consider the drive to work, the distance to school, or the many repair jobs waiting for completion. Plan ahead. Use your needs list as a guideline for every home you view.
Unclear title. Your lawyer will do a title search before closing and can supply you with a copy of the title to ensure there are no liens, debts, undisclosed owners, leases or easements. Outdated survey Before the purchase is completed, an updated survey or plan of survey is essential. This report will indicate boundaries and structural changes (additions to the house, a new swimming pool, neighbor’s new fence which is extending a boundary line, etc.).
Unexpected repairs A home inspector will conduct a thorough inspection of the home. This way, you’ll have an idea of the cost of future repairs. Make the final contract subject to a favorable report. Shopping without pre-approval It only takes a few days to get financing pre-approval. When you are shopping for a home, this gives you more power. A seller is more likely to consider an offer from a serious buyer.
Remember additional cost Besides the funds for the purchase of a home, you’ll need funds for items such as loan fees, insurance, legal fees, surveys, inspections, etc. Rushing the closing Before you sign, ensure you cover all aspects
| THE HOME BUYER'S PLAN |
Buyer can withdraw up to $20,000 from RRSPs to buy a home. RRSP issuer will not withhold tax on these amounts and withdrawals that meet all applicable Home Buyer Plans conditions do not have to be included in your income. Before you can withdraw funds you must have entered into a written agreement to buy a home which you must occupy no later than one year after buying the home.
Details:
Up to $20,000 can be withdrawn tax-free from RRSPs to buy a principal residence. Couples, including common-law, will be able to withdraw up to $40,000. You are not considered a first-time home buyer if you or your spouse owned a home that you occupied as your principal place of residence in the past 5 years. The 15-year repayment period will begin in the second calendar year following the calendar year in which the withdrawal is made. A qualifying home must be acquired before October 1 of the calendar year following the year of withdrawal.
Home buyers withdrawing funds from RRSP’s do not have to pay income tax on the amount withdrawn, as long as the funds are repaid into an RRSP in the future. To get the tax break for a contribution and to use those funds under the plan, the money must be in your RRSP for at least 90 days before a withdrawal is made. Make sure that all documentation clearly reflects your understanding and conditions of the transaction. Has anything been forgotten? Don’t rush. You could lose money, financing or even the sale.
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