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Why Choose a Tech-Friendly Realtor?
As the Internet continues to simplify the way people do research on selling or buying their home, there are many good reasons to choose an agent who can harness the power of technology to provide you with exceptional service. As a tech-friendly realtor I can:
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Send up-to-date information by email for you to review at your convenience.
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Provide you with an online home evaluation so you can stay on top of current market value.
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Forward new home listings to you as soon as desirable properties hit the market.
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Deliver e-newsletters to keep you informed about market trends and other valuable pointers.
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Showcase your home on the web to help you sell it for top dollar.
Whether you're thinking about buying or selling, or simply want to stay informed about the real estate market and current mortgage trends, using new technology helps us consistently provide you with the timely information and outstanding service you deserve.
Hire a Buyer Agent for FREE
Buyers should be aware of their options so they are better able to protect their positions in a transaction. The role of the Realtor has been undergoing tremendous change over the past several years. Prior to 1995, all Realtors worked for the Seller in a Real Estate transaction. The seller, in many transactions, was the only party to actually hire a real estate agent under contract. When buyers made an offer to purchase a home, the agent would always disclose in the offer that they were working only for the seller! Now buyers hire a real estate agent to represent their interests in their home purchase - at no additional costs! This is the Buyer Agency.
A buyer who understands their options will typically want to select their Real Estate representative EARLY in the transaction in order to avoid potential conflicts of interest should they be making many calls to various Realtors (typically listing agents representing the Seller) or if shopping New Home sites (representatives are not necessarily Realtors – thereby having no accountability to the Buyer through RECO* or REBBA**).
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it's all about
Mortgages |
...mortgage approval and financing information |
Pre-Approved FAST & find the BEST financing!
When you are ready to purchase a home, it makes sense to negotiate from the strongest position possible. In a strong real estate market, sellers can be more selective in the final buyer they choose to negotiate with. In such a crazed seller's market, it's not uncommon for a home seller to receive multiple offers on their property. With that said; there are certain things you can do to make certain that your offer is the one Seller goes with.
The vast majority of Purchaser's today go about the process entirely wrong, putting themselves at an overwhelming disadvantage!
Look at this from the Sellers perspective for a moment. If you were the Seller and had multiple offers on your property, all things being equal, would you accept the one with Certificate of Financing Approval or the one that was still conditional on Financing? The answer is obvious. Why then, do so many buyers wait to start the financing until after they have found the home?
What I have found is that those buyers are usually very good, qualified buyers and are not worried about getting approved. Even though they usually are correct and will ultimately be Approved, the Seller in most cases has no guarantees.
Lastly, from a cost savings perspective...
As a prospective purchaser, it makes all the more sense to start the financing early on so you can get a firm handle on your interest rate and closing costs. If you do this before finding a home, you are not under any time constraints and are less likely to over pay like a buyer who has found a home and is under strict time constraints.
Should you decide that you wish to take advantage of a Pre-Approval or just discuss your mortgage options , simply contact Avi and Get the HOME TEAM Advantage! |
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loans for
Renovations |
...the home you want, the upgrades you need |
CMHC Purchase Plus Improvements Program
Canada Mortgage and Housing Corporation (CMHC) insured mortgage loans are available to cover the purchase price of a home as well as an amount to pay for immediate major renovations or other improvements that the purchaser may wish to make to the property. This option eliminates the need to obtain secondary financing after the purchase to pay for improvements. The home buyer obtains a single first mortgage, makes a single mortgage payment, and benefits from the first mortgage interest rates. To benefit from this program, contact Avi today!
Details
The insured loan will be based on the lower of:
- The purchase price plus the actual cost of improvements, or,
- The 'as improved' market value. Prior to approval, CMHC will determine the market value of the property after renovations or improvements. The lending value will not exceed the market value of the property after the renovations or improvements.
Successful applicants must meet the following criteria:
- A minimum of 5% down payment of the total cost (purchase price plus renovations or improvements).
- Cost estimates for renovations or improvements.
- Qualifications to obtain a CMHC-insured loan through an approved lender
Example:
| Purchase Price |
$200,000 |
| Renovations or Improvements Costs |
$25,000 |
| Total Cost |
$225,000 |
| Lending Value |
$225,000 |
| Maximum Mortgage Allowable (95%) |
$213,750 |
| Minimum Down Payment Required (5%) |
$11,250 |
Where the loan-to-value ratio is greater than 90%, the maximum house price in Toronto including the cost of improvements is $250,000.
Avi Ritter can make this dream a reality for many first-time home buyers. With strategic partnerships in the field of contracting and renovating as well as access to CMHC approved lenders, we can handle and coordinate your Purchase Plus Improvements project from start to finish.
Source: ©Toronto Real Estate Board (TREB).
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you can
Buy a Home |
...no down-payment? ...no problem! |
RRSP Home Buyers Plan
The Home Buyers' Plan (HBP) is a program under which you can, generally, withdraw up to $20,000 from your registered retirement savings plan (RRSP's) to buy or build a qualifying home. Withdrawals that meet all applicable HBP conditions do not have to be included in your income, and your RRSP issuer will not withhold tax on these amounts. However, before you can withdrawal funds you must have entered into a written agreement to buy or build a qualifying home which you must occupy no later than one year after buying or building the home, or the withdrawal will count as income.
If you buy the qualifying home together with your spouse or another individual, each of you can withdraw up to $20,000. You cannot withdraw an amount from your RRSP under the HBP if you or your spouse owned the home more than 30 days before the date of your withdrawal. To take advantage of this program, contact Avi today!
Details
Up to $20,000 per person could be withdrawn tax-free from RRSP's to buy or build a principal residence. Couples, including common law will be able to withdrawal up to $40,000.
You must meet the first-time buyer's condition to take advantage of the HBP program. You will not be 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. To determine the past 5-years, the 4-years preceding the year you make your withdrawal plus the period in the year you make your withdrawal ending 31 days before your withdrawal is the rule adopted.
Home buyers withdrawing funds do not have to pay income tax on the amount withdrawn as long as the funds are repaid into an RRSP within 15-years.
The 15-year repayment period will begin in the second calendar year following the calendar year in which the withdrawal is made. In addition, a qualifying home must generally be acquired before October 1 of the calendar year following the year of withdrawal. For example, those making withdrawals under the plan in 2005 will have until October 1, 2006 to acquire a qualifying home and their first annual repayment will be due by the end of 2007 or the first two months of 2008.
A special rule denies a tax deduction for contributions to an RRSP that are withdrawn within 90 days of the RRSP deposit being made. Consequently, to get the normal 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.
You can participate in the HBP more than once if:
- Your HBP balance for your previous participation is zero on January 1 of the year you want your new participation in the HBP to occur, and,
- You meet the first-time home buyer's condition and all other HBP conditions that apply to your situation.
- Existing homeowners can also use the HBP to purchase a more accessible home or a home for a disabled dependent relative.
Source: ©Toronto Real Estate Board (TREB).
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Avi Ritter
- B r o k e r - |
| aritter@trebnet.com |
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HomeLife/Vision Realty Inc., Brokerage |
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1945 Leslie Street, Toronto, Ontario M3B 2M3 |
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Phone 416-383-1828, Direct 416-988-HOME |
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Fax 416-383-1821 |
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Not intended to solicit properties currently listed for sale
or individuals currently under contract with a brokerage. |
The material provided in the pages of AviRitter.com is for informational purposes only. Although the site owner and creators assume the information to be correct, and attempt to keep information in the pages of AviRitter.com as current as possible, they do not warrant the accuracy or completeness of any information included in or linked to this page. | | | |
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