Buying a Home in Norfolk County

Believe it or not, using a real estate agent to purchase your next home doesn’t cost you anything.  More often than not, the buyer’s agent is paid a commission by the seller of the home.  We will be happy to show you houses that meet your criteria, within your budget, and there won’t be any upfront costs to you!

As you’re probably aware, the further away from a large city centre you live, the lower the house prices generally are.  Norfolk County offers a lot of opportunity for those looking to purchase their first home or find a great deal in the real estate market!

Of course, the cost of a home can vary.  Factors that play into what your home will cost in Norfolk County are determined by:

• the town you choose and the neighbourhood within that town
• the square footage of the home
• the features of the home (how many bedrooms and bathrooms, finished basement, etc.)
• the quality of the finishes in the home (is it updated with quality materials, or is it dated and needing repairs)
• the inventory of similar homes that are available to purchase in the current market
• any comparable sales that have taken place in that neighbourhood over the past 6 months

Once we determine those factors, we get a pretty good sense of what you can expect to pay for a home.  The Kate Broddick Team can provide suggestions that will help check off as many boxes from your list of needs & wants, while still meeting your budget. 

We recommend that all our buyers start by get pre-approved for a mortgage.  By speaking to a mortgage broker, bank or lender, you’ll know how much your budget is when starting the home buying process.

Once you know that information, it helps to create a list of “wants” versus “needs” in your new home. If you NEED to live in a particular area of Norfolk County, you won’t want to compromise on that.  But if you just WANT a home with a finished basement, perhaps that is something you can work towards in the future.

By compiling this information for The Kate Broddick Team, we’ll be able to start suggesting properties you’ll be interested in and get the home buying process started!

We can set you up in our Our VIP Buyer System where you’ll receive every new listing (whether it’s one of ours, or not!) that comes on the market in your desired location, price range, and with the features you’re looking for.

Instead of having to spend hours scouring the web and contacting agent after agent only to be let down after the property you finally find that you love is sold – again! Our VIP Buyer system provides you with instant notification of new listings and allows you to pick which homes you want to view before most buyers ever get the chance.

That’s right!  Under most circumstances, buyers don’t pay their real estate agent’s commission.  Generally speaking, the REALTOR® commissions are paid by the sellers of the property.  So why wouldn’t you want to take advantage of all the knowledge and buying power that Team Kate has to offer? 

That is, your financial reserves plus your borrowing capacity. If you give us some basic information about your available savings, income and current debt, I can refer you to lenders best qualified to help you. Banks, credit unions or other lenders may be the best fit for you!

Sometimes the property you are seeking is available but not actively advertised on the market, and it will take some investigation to find all available properties. Our Team not only uses the MLS®, but other websites, forums and networking strategies to find all possible properties that fit your search criteria.

We have access to a variety of resources and can provide local community information on utilities, zoning, schools, etc. There are two things you’ll want to know: first, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell? These are the questions we can help answer.

There are a myriad of negotiating factors, including (but not limited to) price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. We will advise you as to which investigations and inspections are recommended or required for your situation.

Depending on the area and property, this could include inspections for termites, dry rot, asbestos, faulty structure, roof condition, septic tank and well tests, just to name a few. We’ll assist you in finding qualified responsible professionals to do these investigations and provide you with written reports. 

Between the initial sales agreement and closing, questions may arise. The required paperwork alone is overwhelming for most buyers. We’ll assist you in resolving these issues and move the transaction to closing.

If you’re looking to buy a property in the Norfolk County or surrounding area, please contact The Kate Broddick Team with Revel Realty Inc.

You’ll first start by speaking to your bank, credit union or a mortgage broker and find out what you could reasonably afford in the purchase of a home.

One of them will pre-approve you for a mortgage which will let you know how much financing you can get from a lender (bank). Having this information will also help you budget and help you narrow down the house or condo you can afford.

Read: The Basic Steps To Getting Pre-Approved For a Mortgage

If you are determined to own a home in a certain part of town, with a certain number of bedrooms and bathrooms, make a list of these must haves. Note all the neighbourhood information, house features, home upgrades, and number of rooms etc. that you desire the most.

From there you’ll be able to begin your search for a home using your list of must-haves as the search criteria. While doing your home search you may find that you may have to compromise on some of the things you want.

We will set you up with our free service that will automatically send you MLS® listings of houses that meet your budget and search criteria. These listings will be sent to your inbox up to 24 hours before the general public sees them, and you will find out about hot new listings first.

Simply email one of our real estate agents to start receiving listings in your inbox every day.

The Buyer Rep. agreement states that your real estate agent will be working on your behalf to find and negotiate on a property of your choosing. In most cases, your agent’s commission will be paid by the seller, so it generally doesn’t cost you anything to use their services.

If you find any particular homes for sale that you’d like to view in person, let your real estate agent know as soon as possible. They will book a private showing at these houses for you, at a mutually convenient time.

At showings, make sure to take a really good look around each property for things you want and possible issues. Above all, make sure you can see yourself living there and being comfortable. If you really like a place, you can even book a second showing a day or two later.

Once you’ve finally decided on a house you love, discuss it with your agent. Your agent will put together a reasonable offer, discuss it with you, and send you the papers to sign (usually done via email).

For the offer, your agent will look up comparable homes that have sold recently in the area, and help come up with an offer that works for you and the seller.

Find out the difference between a conditional offer and a firm offer.

Note: sometimes your first offer won’t be accepted immediately by the seller. This is when your agent will negotiate on your behalf and will work with you to come to an agreement that is mutually accepted.

Once your offer has been accepted, you will be required to put a deposit on the home. Deposits are a different form of payment than the down payment you put on the home.

A deposit can be anywhere from $5000 to $20,000 or more. The sellers determine the deposit amount and it is a good-faith payment to show the sellers that you’re truly interested and serious about buying the property.

The amount you put into your deposit goes towards the total sale price you’ll pay for the home. If you suddenly pull out of the deal before closing day, you will forfeit your deposit payment to the sellers.

If your offer was conditional to receiving financing, or a home inspection, or any other condition, you will need to fulfill these conditions within an allotted time-frame before the house can officially be yours.

You will want to ensure you have definitely secured the financing needed, and the house has been inspected for any problems before the deal is done. Your agent will guide you through these conditions, and show you how to get them fulfilled on time. It’s not hard at all.

Before you hire a home inspector, read our guide on important things to know before hiring a home inspector.

Once all of your conditions have been fulfilled, the sellers will put a sold sign on the front lawn which will soon be yours. Right now is a very good time for you to start getting organized for moving day (also known as closing day) when you’ll get the keys to your new house.

You can use our moving checklist as a guide to help get yourself organized before the big move.

You may request a final walkthrough of the property before closing day. This is always a good idea and highly advised because it is a chance to take measurements, snap a few photographs, and just reacquaint yourself with the home that will soon be yours.

Your agent will need to check with the sellers that the time/date you’re requesting is mutually acceptable.

In addition to booking the moving truck and setting up the new utility accounts at your new home, you’ll need to make an appointment at your lawyer’s office prior to closing day.

This is when you will sign all the final paperwork and ensure everything is ready to go with the sale.

On closing day, your lawyer will transfer the mortgage money from your bank into the account of your sellers. Once all money has exchanged hands, you will be advised on where you can pick up the keys to your new home, and start moving in.

You can read Closing On a House – Professional Tips and Advice for help getting your properly prepared for closing day.

Our REALTORS® are always happy to help you and will be there to guide and inform you during each stage. Take advantage of their knowledge and by doing so you’ll contribute to making the buying process as simple and hitch-free as possible.