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Lessons Learned In Real Estate – First Time Home Buyers

My clients (first time home buyers) who had purchased their property and prior to fulfilling the conditions, the client confirmed their mortgage agent had said to go ahead and remove the conditions on financing. Just two weeks before their closing they had an issue with their financing. I was advised by my client due to financing they may not be able to close in time, and if they cannot get another lender, they will have to back out.  I met with them and discussed their options and also advised them of the consequences (Seller could sue the Buyers) what will happen if they do not close on the home on time.  

One of the options was to request the sellers & sellers lawyer for an extension of 7 Business days and ensure we can get another lender that can approve them.  My clients needed to move as they had already given notice to their landlord.  

With the clients permission, first I reached out to three different lenders and I introduced my clients.  I explained the situation and asked my clients to speak with the lenders and see which ones would ensure that their best interest and provide them with a firm approval and conditions that meet the requirements as per the original closing timeline.  

Luckily two of the lenders came through and confirmed that they could provide a firm approval based with couple conditions and terms.  My clients decided to go with one of them and needed to get some additional documents and funds.  They still required an extra 5 days to make this happen.  

Again with permission from my clients and their lawyer I reached out  the Sellers agent and coordinated a meeting with the sellers and lawyers to make an amendment to the agreement and closing date.  There was an additional fee on both the lawyers side that the buyers agreed to pay, but there was no penalties.  The sellers were cooperative to allow this and thankfully we closed on the revised date and my clients were very grateful. 

Most importantly I learned to stay kind, remain calm, cool, and collected. 

My approach has always been to provide support based on what I hear on what’s expressed.  Being a good listener, solution based and focused. 

Buying your first home in Canada?  Join our FREE webinar to learn how to achieve excellence and success with Jesse Johar and his team!

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What is an offer?

When buying a home, an offer is a legal agreement between two parties for the purchase of a home.  This offer is made by you, the buyer, and if accepted by the seller becomes a legally binding contract.

What’s included in an offer?

As you may have guessed, a price to be agreed upon for the purchase of the home is included in your offer to the seller.  But there are other aspects of an offer as well.  These include:

• Conditions – These are clauses in the offer contract that must be completed before a set date or the agreement becomes void.  Common conditions include financing, home inspection and review of status certificate.  Since the beginning of COVID, there are a number of other conditions to protect both buyer and seller from any complications arising due to COVID-19.
• Inclusions/Exclusions – Will you inherit those ugly curtains?  Will those beautiful light fixtures come with the home?  Inclusions and exclusions are clauses in the offer contract pertaining to any goods that may or may not come with the home.  These are often negotiable and Jesse can help you secure those beautiful light fixtures while ensuring those ugly drapes have seen their last days!
• Closing date – This is the date on which the funds and keys will be exchanged.  The property title will be registered in your name by your lawyer and the mortgage will be registered onto the title.  The offer must be completed by this date.
• Deposit – These are funds that are given to the seller’s real estate brokerage to be held as a deposit on the offer.  Once the offer is firm and there are no more conditions, the deposit becomes non-refundable if you are unable to complete the purchase agreement terms.

#ourfirsthome | OurFirstHome.ca

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Buying your first home in Canada?  Join our FREE webinar to learn how to achieve excellence and success with Jesse Johar and his team!

How To Buy Your First Home In Canada

Owning a house that one can call a home is every individual’s inherent wish. Financial institutions play an indispensable role in building a #dreamhome

When you decide to buy a #home, it can be tempting to pull up listings on your computer and schedule appointments to see your favourite #houses. But if you don’t already have a preapproval letter in your pocket, that can be a mistake. Taking the time to get preapproved can give you an advantage over potential buyers who aren’t preapproved.

A pre-approved home loan assumes paramount importance, bringing closer both the ends of the spectrum – your home and the required funds to make it possible.

How to Buy Your First Home in Canada

9 Basics Steps to Finding and Purchasing Your First Home

A #mortgage #preapproval helps you understand how much house you can afford, makes you more attractive to sellers, and alerts you to problems that may affect your ability to get a loan. To get preapproved, you’ll need to provide your lender with documents they’ll use to verify your personal, employment and financial information.

Fortunately, getting #preapproved is relatively quick and simple. Let’s explore what you need to do for a #mortgage #preapproval and how it can benefit you during the home-buying process.

 #ourfirsthome | OurFirstHome.ca

Spring Time Home Decor Ideas

Welcome #Spring with a splash of colour | #HomeStagingIdeas

At a time when many of us are spending more time at home than ever before, it’s a great time to perk up your surroundings with a fresh coat of paint. Keeping your #home décor neutral, with soft, light colours will create a feeling of spaciousness. Strong colours can then be introduced on a limited basis, such as on just one accent wall to add drama. 

Starting with a more neutral backdrop, you can welcome #Spring with a splash of colour. Introduce colourful accents like throw pillows, area rugs or artwork in bright shades to make your room ‘pop’. Your accents can easily be changed with the seasons to refresh your look throughout the year.

#SpringDecor Ideas to Freshen Up Your #Home’s Look and Feel

Book A Home Buyer Consultation 

Contact Us: https://www.jessejohar.com/contact-real-estate-agent-jesse-johar/

W: JesseJohar.com

#Staging #HomeStaging #Decor #HomeDecor #InteriorDesign #SellingYourHome #TheSoldGuru #SoldByJesse 

VIRTUAL HOME BUYING

In today’s stay-at-home environment, some prospective home buyers have put off their search, at least for now. It may surprise you to know that real estate activity is continuing, while keeping a safe distance. You can get a head start on your home search with some help from technology and your local real estate professional. 

Responding to the constraints of the pandemic, more homes are now being promoted with virtual tours, offering a 360° view of every room. Some listings even offer live virtual walk-throughs by the agent, with the questions answered in real time. Other ground-work, such as researching the neighbourhood to locate schools and shopping, or investigating future developments that may impact resale value can go forward now. 

The safety and comfort level of our customers is our priority. To view home in a virtual home buying experience visit us JesseJohar.com.  Contact Jesse Johar A Coldwell Banker Real Estate Professional to learn what options are available and choose what’s right for you.

W: JesseJohar.com | OurFirstHome.ca | TheSoldGuru.com

#virtualhomebuying #virtualtours #virtualhometours #jessejohar #ourfirsthome #thesoldguru

Property Valuation | #PropertyValuation #TheSoldGuru

An expert opinion which will assist property buyer seller to take informed and right financial decision about property.

Buying or selling of a #property is a very crucial decision, it should not go wrong in any circumstances. This decision cannot be driven by just availability of finances or resources. It should be a methodical and scientific decision based on certain data, research, checkpoints and expert technical opinion.

Property Valuation safeguards buyers and sellers interest and help them take a friction less decision and covert it into an Intelligent Investment.

FreeHomeAppraisals.ca | JesseJohar.com

#HomeAppraisal #WhatsMyHomeWorth #HomeValuation #HomeValues #HomeAppraisals #TheSoldGuru #Home #ResidentialRealEstate #CommercialRealEstate #RealEstate

Coldwell Banker Rebranding & Awards Celebration Event

Coldwell Banker Awards 2019 @ Eagles Nest Golf Course In Vaughan.
As we move further into 2020, I would like to take a moment and thank all of my wonderful clients for trusting me with their real estate needs during 2019, and for making last year such a tremendous success.
Thank you #team #collegues #clients #brokerofrecord for the support and trust.

CHMC First Time Home Buyers Incentive

In a highly anticipated announcement on March 19, 2019 the Finance Minister tabled the Federal Budget which included easing measures for housing.

Since 2008 there has been over 30 government imposed regulatory changes introduced. All were aimed at tightening the mortgage landscape making it more difficult to borrow. This is the first time in over a decade that we have seen easing to the rules. Although it wasn’t the results that were widely anticipated, many Canadians will benefit from these additions. More importantly this indicates a shift in perspective from a government level which hopefully begins a new era where we can expect further easing over the coming years.

There are 2 main proposals for housing affordability which were introduced; The First-Time Home Buyers Incentive Program and an increase to the Home Buyer’s Plan.

The First-Time Homebuyer Incentive Program is scheduled to be launched in the fall of 2019 and we expect further details in the coming months as the program gets finalized. Once we receive the final program and have an opportunity to assess we will certainly share this with you and your valued clients.

Today we will focus on the increase to the Home Buyer’s Plan (HBP), the final report was submitted yesterday making this program now active and eligible for qualified buyers. This increase to the HBP withdrawal limit will apply in respect of withdrawals made after March 19, 2019 given that the Purchase and Sale agreement was also signed after this date.

First-Time Home Buyers’ Plan

Currently, the Home Buyer’s Plan (HBP) allows first-time home buyers to withdraw up to $25,000 from their Registered Retirement Savings Plan to purchase or build a new home without having to pay tax on the withdrawn amount. Budget 2019 proposes to increase the HBP limit to $35,000 per first-time home buyer or $70,000 per couple. Clients that are going through the breakdown of marriage or common-law partnership will be permitted to participate in the HBP even if they are not first-time home buyers provided that the separated person lives separate and apart from their spouse or common law partner for at least 90 days.

Here’s an example of some of the ways this program could help your valued clients:

Increased Eligibility:

Clients that have access to this program can benefit from the flexibility of increasing their purchasing power by $10K. This provides leverage and further opportunities for you and your client.

Decreased Payment:

An increase to the down payment by $10K will provide your customer approximately $50 per month in savings on their mortgage payments.

Reduced Income Qualification:

An increase to down payment allows clients to qualify for slightly more home. In this specific circumstance a customer looking to buy for $500,000 would need about $3K less in income by increasing their down payment by $10,000. This will help borrowers that are on the cusp of qualifying.

As always, I’m happy to help answer any questions you may have.

Thank you to my team and supporters for making a momentous 2018.  Coldwell Banker Real Estate Centre.

Moving? Things to Consider Before Packing Begins

Most of us at some point in our lives have relocated. Whether it was moving to a new house with our family as a child or packing up and heading across state for college, we all can appreciate how much effort goes into the prepping, planning and packing. Wonderful, new beginnings await us when we move! Here are some handy tips to relieve some of the stress of moving, helping you enjoy the process and this exciting time instead.

Know you’re moving? Organize all of the paperwork

It’s important to keep all paperwork in the same spot so you don’t spend time looking for it when a question about the move surfaces. Did you hire movers? Have their information on hand. Is your new house a rental? Make sure you have contact information in case something goes awry upon arrival and you can’t access your new apartment or home. By keeping all moving documents in one spot, you’ll not only avoid the stress of not being able to find something in a jiffy but also enjoy a more efficient move from start to finish.

To Do Lists are Key!

As with any big event, keeping a list of “to-do’s” is crucial. You wouldn’t plan your daughter’s engagement party with no planning, invitees, or reservations, would you? With a move, it’s also important to keep track of the steps involved throughout the process. In many cases, it’s simply a good idea to keep a running list of things you may need to remember at a later time. This list can hold important numbers, due dates and more. It’s just one more way to stay organized during a very busy but exciting time.

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Take Pictures

You may be feeling sentimental as the move approaches, but this tip has a different motive in mind. Photos come in handy for many reasons. By taking pictures of your knick- knacks before and during the move, your life will be easier once you make it to the new place and you’re trying to unpack and decorate. Know what else? Taking photos of electronic wires and connectors will help you when you’re trying to hook up the TV at the new home just in time to watch the big game! Also, if items get damaged in the move, you’ll be able to let the movers know their condition prior to the move…with the proof of a photo.

Don’t pack items you won’t be needing anymore.

I’ve written about decluttering when trying to sell your home, but it’s important to also not spend the time and the effort to pack items you won’t be using in your new home. Moving is the perfect time to declutter! If you are no longer using that cabinet and it’s been in your basement’s storage room, try to donate or sell it. You can also ask yourself, “where will I need this item in the new place”? If you don’t have an answer to that question, it’s likely time to part ways with it.

The internet is filled with practical (and sometimes off-the-wall!) packing tips to prepare you for your next big move. A little preparation and forethought will go a long way, starting off life’s next phase in the right way. Are you interested in that new home or wanting to learn more about selling your existing home? I’d love to help! I’ve assisted many families and individuals in the Greater Toronto Area and beyond to find their dream home. Contact me for all of your real estate needs at (416) 858-7365 or email me @ jesse@jessejohar.com

www.JesseJohar.com

STUNNING LUXURY INTERIOR DESIGNS INSPIRED BY THE 70’s

70’S HUES

The 70’s are back in a big way. 70’s trends are dominating right now from music festivals, to bell bottoms and overalls, to Interior Design.  It is recommended that sticking to slightly saturated reds, oranges, deep blues, and forest greens.  Deeper gemstones and metals with wood accents and white contrast modernizes your home with beautiful colour that isn’t too overwhelming.

COOL CONCRETE

Anyone who loves contemporary architecture appreciates the concrete aesthetic.  It is tough, long lasting and easily maintained and that for the right buyer it is a cool and edgy addition to a home.  Concrete really shines when it is paired with bold design choices such as bright colors, plants and even wallpaper.

SEEING DOUBLE

Today’s Luxury Kitchens are about having a minimalistic look at feel.  That means finding a way to hide all your unsightly appliances.  The most popular ways to do this have been to incorporate a butler’s pantry that houses not only dry goods, but also has a counter space for items such as juicers, blenders and the like. Alternatively a huge trend that is on the rise is to simply have two kitchen spaces – one for cooking, and one for entertaining.  While we’re seeing double, we need to add that the biggest must have for a luxury kitchen in 2018 is a double oven.

AU NATURAL

2018 has been all about taking it back to the basics, and that means finding those natural textures in your home and really highlighting them. For some this may mean showcasing an exposed-brick wall. For others it may mean bringing in those natural textures in the form of stone or woven accents. Either way, the more down-to-earth the textures feel, the more luxurious your home will look.

BRINGING THE OUTSIDE IN

Plants are the ultimate multi-purpose house decor item. In addition to providing clean air they also have the ability to look stunning when displayed properly, and depending on the plant could provide you with an indoor medicinal or herb garden. No luxury home would be complete without bringing these natural beauties indoor in a spectacular way such as a plant wall or large installation.

Trending Dramatic 70’s Cool Aesthetics. www.JesseJohar.com

Creditview Activity Hub Now Open!

Brampton has just opened a new, fully accessible play area at Credit-view Road and Sandalwood Parkway. The entire facility is compliant with the Accessibility for Ontarian’s with Disability Act, making this a first for the City. While it looks like an ordinary playground, it has been carefully designed to be accessible and inclusive for people of all ages and abilities. Play elements include basketball, 4-square and hopscotch, swings, slides, sand tables, and a spray pad- all fully accessible for users.

The layout of the play area includes separate areas for younger and older children, and quiet zones for children who are sensitive to noise. Credit-view Park is more than 100 acres in size and features a variety of sports fields, a field house with change rooms and washrooms, walking trails and outdoor fitness stations. All of the amenities have been designed to minimize impacts on the environment.