MENU		CHOOSING YOUR OWN TEAM		APPRAISERS
		When you are going to buy a home, you will want to have a team of professionals at your service. Although you decide exactly who is on your team, there are a few professionals without whom buying a home is nearly impossible. For example, just about every home buyer needs a mortgage, so you will have to find a lender.		You may wish to have an independent appraisal completed on a property before you make any offer. It can protect you from paying more than the market value.
		REAL ESTATE SALES REPRESENTATIVE		LENDERS
		Having your own real estate representative will not only save you time and trouble, but very likely money as well. You can deal with the seller's real estate agent yourself, but you should realize that the seller's real estate representative works in the best interest of the seller and has the obligation to tell the seller any information that will influence the negotiations, including your motivations for buying a home and even how much you would be willing to pay. There is no charge to you if you enlist your own real estate sales representative. Once you have selected a representative, you will want to establish a proper business relationship. Your real estate representative will explain the options available, describe how he or she typically works and provide you with complete disclosures (the ins and outs of the relationship). Once hired for the job, the real estate sales representative will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation. In addition, your representative will keep you updated and alert you to each step in the transaction process. For comprehensive information about what we can do for you as your real estate representatives, please take a look at the YOUR REPRESENTATIVE-page in this section.		Many different institutions lend money for mortgages, including banks, pension funds, trust companies, credit unions, insurance companies and finance companies. The key to finding the right lender for your situation is to shop around. It will save you money to speak with more than one lender because the terms and options vary enormously. Mortgage brokers don't usually lend money but rather put you in touch with others who do. Brokers are independent, which means that they are not affiliated with any specific lending institutions. Their role is to find the lender with the terms and rates that will best suit you. For additional information on mortgages, brokers and how to choose a lender. please visit the FINANCING-section.
		MORTGAGE BROKER
		For your convenience the House Hunting In Toronto website has selected Preferred Partners for several real estate related services. Our Preferred Mortgage Partner is Michael Pezzack, mortgage consultant for Buyingblock,. His job is to help you decide on the best mortgage package then find you the lowest rate - his service is free. To contact Michael, give him a call at 416-850-2642.
		HOME INSPECTORS
		A home inspection cost about $250 - $350 or more, depending on the size of the house and where the home is located, but it is a very wise investment when buying a home. A good home inspection is an objective, top-to-bottom examination of the home and everything that comes with it. The standard inspection report includes a review of the home's heating and air-conditioning systems, its plumbing and wiring, the roof, attic, walls, ceilings, floors, windows and doors, the foundation and the basement. The report should estimate the cost of repairs and the priorities: what should get fixed first and how soon. With older homes you may also ask an inspector to check for termites, lead paint, asbestos or other problems. If you have made a satisfactory home inspection a condition in an Offer to Purchase a home, the inspector's fees are paid by you. Note: Ensure that the inspector has errors and omissions insurance.
		INSURANCE BROKERS		LAWYERS
		Lenders will not let you close the deal on your home purchase  if you do not have home insurance, which covers your home and your personal property against losses from fire, theft, bad weather and other causes. Even if you pay cash for your home, you should buy home insurance. An insurance broker can provide you with all your insurance needs, including property insurance and mortgage life insurance. Property insurance covers the replacement costs of your home, so premiums vary not only depending on your home's worth, but also on the cost of rebuilding your home at the same location. Do not confuse property or life insurance with mortgage loan insurance which is mandatory for high-ratio mortgages.		In order to ensure that your legal interests are being protected when you buy your home, you need to hire a lawyer. Your lawyer will review any contracts you need to sign, especially the Offer to Purchase. If you make an Offer to Purchase that is accepted, your lawyer will be responsible for many of the closing arrangements. Lawyers fees range widely and depend on the complexity of the deal.
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CONTACT INFORMATION
		Rick McGuigan Toronto real estate sales representative Coldwell Banker Case Realty Phone: 416-696-5100 Pager: 416-461-0925
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