Our essential home buyer & seller guides
Everything you need to know for a smooth, stress-reduced experience!
EXPERIENCED BUYERS
FIRST-TIME HOME BUYERS
SELLERS GUIDE
ESTATE SALE
FORECLOSURES
DIVORCE/ SEPARATION
CURRENT MARKET CONDITIONS
Buying a Home – Experienced Buyers
Let’s meet! Coffee at the nearest coffee shop? At your place after you drop off your kids? At your office after the workday is finished? Remember, it is about your time.
We want to ensure we are the right fit for you. We will discuss your ideas, budget, timeline and concerns. We also want to make sure you understand OUR value and what we bring to the process so that you feel great about working with us.
Do You Have a Budget?
Why are we asking? Knowing your budget allows us to provide you with the best opportunities and ignore the ones that are the wrong fit and a waste of your time.
The Choices
We build a list of properties that meet your budget, preferred area, amenities and community offerings.
You choose your favourite ones, and we will book the showings.
Roadshow!
We always take the TIME to research everything BEFORE we head out.
Sometimes the property you selected yesterday will have offers on it today, so we switch gears and go on to the next.
We provide you with a thoughtful itinerary that optimizes YOUR time and opportunities.
Our goal is to make you feel comfortable and at ease. We’ve found that most clients fade after visiting five houses in a day, but YOUR TIME may require us to show you more than that. You may only be in town for a day, you may have a small window of time to make your decision, or it could be your only day off in three weeks, and we need to strike while the market is hot. NO PROBLEM! We will maximize the schedule so that we see every opportunity.
Home Buying and Selling Tips in Chilliwack, BC
Whether you are thinking about buying or selling a home, this could be one of the most important transactions that you ever make. At Cervus Realty, we provide a range of real estate services in Chilliwack, BC designed to help home buyers and sellers enjoy a smooth and seamless transaction. Here we have put together a list of tips and tricks designed to simplify the process.
You think you’ve found the one, but what if you change your mind?
You loved something on your tour today, but now you’ve come home, had dinner, and the day’s momentum is dissipating. You are now questioning your instincts and are starting to feel unsure.
It’s aok! This is a huge decision.
Let’s find you the right property that resonates with all of your criteria that will be the perfect fit.
Stick to Your Limit
Your financing pre-approval must be in place, and you should always know your limit before any negotiation.
Not having your budget firmly set can be dangerous in the midst of an emotionally charged negotiation and will cost you not only money, but it may cause you to make an error you may regret for a very long time!
When we know your top-line price, we can help you stick to it and keep you on track to achieve your original goal.
What If You’ve Found the Right Home?
We find and review comparable properties that have been sold (if applicable) to formulate your opening offer within your budget.
We ensure we have included suitable subject clauses to protect your financial and personal interests based on the type of property you want to purchase. We consider inspections, financing, zoning and many other factors.
Once the offer is presented to the Buyer’s Agent, there are two possible outcomes:
- If the initial offer is not accepted, we can reconsider and submit a new offer. OR, we walk away and keep looking.
- The buyer will send us a counter-offer. We discuss and decide if you want to accept, reject or prepare another counter-offer. The negotiation process continues until we have the best deal for you.
Your Offer is Accepted
All parties sign and initial any changes to the contract.
The Subject Removal Phase. Even though you’ve done this before, we don’t want to leave any stone unturned. We will provide you with a detailed “to-do” list to make sure nothing is missed.
Next, we’ll prepare the documents you need to submit to your lender to finalize your financing.
We will walk you through the home inspection process, review title documents, property disclosure statements, strata or lease documents, and go over anything else deemed a subject that we’ll need to remove before handing over a deposit.
Show me the money.
You loved something on your tour today, but now you’ve come home, had dinner, and the day’s momentum is dissipating. You are now questioning your instincts and are starting to feel unsure.
It’s aok! This is a huge decision.
Let’s find you the right property that resonates with all of your criteria that will be the perfect fit.
You’ve Paid Your Deposit – What Next?
While waiting for possession day, we will remind you of the details that still need to be addressed.
- getting your insurance in place to be active on your completion day.
- talking to strata about your move-in details.
- talking to utility providers to ensure you have power, water, and internet when you move in.
- ensuring the appropriate paperwork is sent to the lawyer or notary of your choice who will prepare all the final purchase documents and transfer title with the Land Title Office.
YOU HAVE A NEW HOME!
Congratulations! It’s Completion Day. You pay for your property and officially own your home!
Time to Move
Possession Day.You finally get the keys!We will be there to celebrate with you, but someone else will have to move that heavy piano 😉
Ready to Find Your Home?
First-Time Home Buyers
Three Common Mistakes that can Cost You $$$
Geography
That $100,000 savings on the home in the suburbs will buy a lot of fuel. You may have your heart set on one area, but we encourage you to keep an open mind about your options!
Well Meaning “Helpers”
Family and friends certainly mean well when offering advice, but remember that they are not necessarily experts on the current & local market conditions. Your Realtor® is your trusted advisor when it comes to helping you find the right home. Everyone else will be happy to see that you made the right choice at the housewarming party!
Unrealistic Goals
We understand that you want to make the best choice and that it can be scary to take the leap and commit to your final purchase. Thinking outside of the box and having a realistic viewpoint are essential when buying your first home. You can miss out on some great opportunities by waiting too long pondering aspects that can be changed like paint and flooring, or concentrating on the perfect neighbourhood, the ultimate floor plan and that spacious corner lot. The next viable option may be too expensive and leave you “priced out” of the market.
The Steps to Buying Your First Home
Let’s meet! Coffee at the nearest coffee shop? At your place after you drop off your kids? At your office after the workday is finished? Remember, It is about your time.
We want to ensure we are the right fit for you. We will discuss your ideas, budget, timeline and concerns. We also want to make sure you understand OUR value and what we bring to the process so that you feel great about working with us.
Do You Have a Budget?
Why are we asking? Knowing your budget allows us to provide you with the best opportunities and ignore the ones that are the wrong fit and a waste of your time. Don’t worry if this is new to you, It’s not new to us so we will help you understand the nuances of financing.
The Choice
We build a list of properties that meet your budget, preferred area, amenities and community offerings.
You choose your favourite ones and we will book the showings.
Roadshow!
We always take the TIME to research everything BEFORE we head out.
Sometimes the property you selected yesterday will have offers on it today, so we switch gears and go on to the next.
We provide you with a thoughtful itinerary that optimizes YOUR time and opportunities.
Our goal is to make you feel comfortable and at ease. We’ve found that most clients fade after visiting five houses in a day, and viewing more than that may cause them to feel overwhelmed.
YOUR TIME may require us to show you more than that. You may only be in town for a day, you may have a small window of time to make your decision, or it could be your only day off in three weeks, and we need to strike while the market is hot. NO PROBLEM! We will maximize the schedule so that we see every opportunity.
Find Out More About Incentives for First-Time Home Buyers in BC Today
If you are wondering how to buy a house in Chilliwack, BC, or you are interested in learning about the incentives and programs available for first time home buyers, then you can count on the team at Cervus Realty. Find your dream home today. To start your search contact our team today by calling us at (604) 819-2880.
You think you’ve found the one, but what if you change your mind?
You loved something on your tour today, but now you’ve come home, had dinner, and the day’s momentum is dissipating. You are now questioning your instincts and are starting to feel unsure.
As you get a better understanding of the market, goals change.
IT’S AOK! This is a huge decision.
Let’s find you the right property that resonates with all of your criteria that will be the perfect fit.
Stick to Your Limit
Your financing pre-approval must be in place, and you should always know your limit before ANY negotiation.
Not having your budget firmly set can be dangerous in the midst of an emotionally charged negotiation and will cost you not only money, but it may cause you to make an error you may regret for a very long time!
When we know your top-line price, we can help you stick to it and keep you on track to achieve your ORIGINAL goal.
What If You Don’t Know Your Budget Before You Negotiate?
Your financing pre-approval must be in place, and you should always know your limit before ANY negotiation.
Not having your budget firmly set can be dangerous in the midst of an emotionally charged negotiation, and will cost you not only money, but it may cause you to make an error you may regret for a very long time!
When we know your top-line price, we can help you stick to it and keep you on track to achieve your ORIGINAL goal.
What If You’ve Found The Right Home?
We find and review comparable properties that have been sold (if applicable) to formulate your opening offer within your budget.
We ensure we have included suitable subject clauses to protect your financial and personal interests based on the type of property you want to purchase. We consider inspections, financing, zoning and many other factors.
Once the offer is presented to the Buyer’s Agent, there are two possible outcomes:
- It may be rejected…DON’T PANIC! If the initial offer is not accepted, we can reconsider and submit a new offer. OR, we walk away and keep looking.
- The buyer will send us a counter-offer. We discuss and decide if you want to accept, reject or prepare another counter-offer. The negotiation process continues until we have the best deal for you.
Your Offer is Accepted
All parties sign and initial any changes to the contract.
We enter the Subject Removal Phase – this is when we provide you with a specific “to-do” list.
Next, we’ll prepare the documents you need to submit to your lender to finalize your financing.
Due diligence – legal speak for research. We will walk you through the home inspection process, review title documents, property disclosure statements, strata or lease documents, and go over anything else deemed a subject that we’ll need to remove before handing over a deposit.
Show me the money.
We will prepare Subject Removal documents and you will make your deposit.
The deposit amount is negotiated depending on the property and is also part of your down payment. The deposit needs to be “liquid cash” that you can access within 24 hours of removing subjects.
You’ve Paid Your Deposit – What Next?
While waiting for possession day, we will remind you of the details that still need to be addressed.
- getting your insurance in place to be active on your completion day.
- talking to strata about your move-in details.
- talking to utility providers to ensure you have power, water, and internet when you move in.
- ensuring the appropriate paperwork is sent to the lawyer or notary of your choice who will prepare all the final purchase documents and transfer title with the Land Title Office.
YOU HAVE A NEW HOME!
Congratulations! It’s Completion Day. You pay for your property and you now officially own your first home!
Time to Move
Possession Day. You finally get the keys to your new home! We will be there to celebrate with you but someone else will have to move that heavy piano 😉
Ready to Find Your Home?
Selling Your Home
It is important that we are the right fit for you so let’s meet! We want you feel great about working with us.
Cleanliness
empty each room and give it a deep clean. Only put back the items you want to use for staging. Your home should look clean, smell fresh, and have a pleasing colour palate. These all contribute to the overall aesthetic and how people will respond when viewing.
Safety
we have to deal with slippery walkways, patios, loose outlets, exposed wires, loose railings or anything that is a safety issue. Mike’s renovation & firefighter background comes in really handy for this part!
Cosmetic
painting some walls, flooring touch-ups, landscaping, small (or large) renovations…this is always based on your budget and your timeline to define what is realistic and doable.
What Should You Do Before Selling Your House?
If you are wondering how to sell a house in Chilliwack, BC, then you can count on the team at Cervus Realty. We have extensive experience in the local market and provide valuable resources that will help you get the right price. It is a good idea to be informed about recent Chilliwack real estate listings in order to understand how much your home might be worth. Our team can help you with home inspections and other real estate services so that you can minimize the time your home stays on the market and receive offers for the price that you are looking for.
Decide on Your Bottom Line Before You Negotiate
Always set your limit before ANY negotiation – before you are in the heat of the moment, stressed out and emotional. When we know your bottom line price for the sale, we can help you stick to it and keep you on track to achieve your goal.
Sold! Now What?
We will provide you with a “to-do” list based on the timeline of your offer. You will know when to cancel utilities, insurance and security contracts.
We can also help arrange for a cleaning service after the final move out.
We will ensure your final purchase documents are sent to your lawyer or notary of your choice.
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Ready to Get the Best Price for Your Home?
Have You Found Your Next Home?
Click here to learn the essential steps to buying a home.
Estate Sales
Due to the potentially emotional circumstances of an Estate Sale, it is important that you feel comfortable and well taken care of.
We will meet first to make sure we are the right fit for you. We are here to alleviate your stress and ease the process.
We need to ask for documents proving you have the authority to act on behalf of the estate. Once that is confirmed, we will help you decide if it is best to list the property prior to the Court granting Probate or not.
After verifying that you have the legal authority to make decisions, we will work with you and provide the other family members with all of the information in a clear manner.
We will help you navigate the potential conflicts that can arise in this emotionally charged environment. Family members may work well together, or there may be disagreement over possessions and decisions on the sale of the estate.
Family members can sometimes disagree on the sale price of the estate property. We will provide accurate, comparable data (CMA) that supports the true value in the current market.
We are always on your side, so if a conflict arises, we will support you. If something is ever outside the scope of our licensing and education, we will never abandon you. We will refer you to the appropriate experts such as estate or tax lawyers, grief counsellors, mediators, or accountants.
We will make suggestions on how to stage your home to be ready for market.
Once the property is listed, we will ensure you are updated about showings, market activity, and all of the feedback we receive about the property.
We will go over all of the offers in detail and help you through the negotiations to arrive at the best price.
When the home is officially sold we will continue to be with you through all of the final steps until the process is completed.
Click here to view our complete selling process, or Give us a Call!
Time to Downsize?
We know that downsizing your home is a big adjustment. We help to lighten the load by developing a strategy that works on your timeline and respects that you are going through this transition.
You could be moving forward without the spouse you shared a home with for many years.
Your children may have moved away and you’re now an “empty nester”.
You loved living & working on your family farm but it is too much for you to care for anymore.
Whatever your circumstances, we want to help make the transition as smooth and easy as possible.
- We will ask you to meet with a lender to determine the best strategy for you financially.
- We will ask you to create a list of “must-haves” and “nice to haves”.
There are some great advantages possible when downsizing.
1
Less maintenance for the home and surrounding property.
2
Less maintenance for the home and surrounding property.
3
You may be able to move closer to family, friends, doctors or other health practitioners.
4
You may be living in a new community with others sharing the same life circumstances which leads to a whole new support system.
Let us turn this experience into a positive one for you and lead you into your next chapter excited for the future.
Interested in a Foreclosure?
Foreclosures can be complex, and require specific conditions to be met.
These are mostly investor level transactions, or require liquidity up front to close the deal. While the price may look attractive, these properties are not always the best, cheapest way to enter the market for the first time or when you are changing your primary residence.
The foreclosure market is very well suited to experienced buyers with the ability to self-finance most, if not all of the property.
It can be difficult to appraise the property before court proceedings, making financing challenging. Depending on the state of the home, a lender may not honour current market rates or even proceed at all.
The offer is accompanied by a deposit draft, and the deposit amount will be a deciding factor in the acceptance of the offer. Financing must be in place at the time of the hearing date, as you will be expected to complete the transaction within the time frame provided by the court once the offer is accepted.
The risk level can be very high as all Foreclosures are “as is, where is”, which means you have no recourse against a seller if the house is in poor condition or substantially damaged before you take possession. You take the chance of the property being in worse shape than when you first viewed it as damage could be incurred between the viewing and when the residents vacate the premises. This could lead to a much larger renovation budget to deal with new repairs.
Our expertise in this area is that we focus on mitigating as much risk as possible for you.
We will discuss all potential risks, and also all potential rewards.
We will prepare the contracts in accordance with the court-ordered details.
We will have multiple plans of action prepared before we appear before the court so we have pre-approved options ready in case of any outcome.
If you don’t have the financial means for a substantial downpayment and secured financing (meaning a line of credit or mortgage approved based on the foreclosed property specifically) we will likely try to dissuade you from this route because your best interest is always our priority.
However, if you are willing to take the risk, we are more than willing to take the time and talk you through this complex process so that you can make the decision that is right for you.
If You Have Your Heart Set On a Foreclosure – We Will Ensure You Have the Best Outcome
Going through a Divorce/ Separation?
We understand that this is stressful, emotional and difficult for the people involved. Our job is to work with all parties fairly and transparently to serve the collective’s best interest.
We are here to assist you in the sale of the property so that you both can move forward with the best outcome from a tough situation.
We will have to ask for confirmation on who has the legal authority to sign contracts, whether one or both parties have been granted conduct of the sale.
We will engage in goal setting with both parties either separately or together; and move through the process of selling the property.
We will engage in goal setting with both parties either separately or together; and move through the process of selling the property.
To streamline the communication process and continue to act in a neutral manner, we will ensure that all correspondence about showings, feedback or other information is sent to both parties at the same time.
For more information on our proven selling process, click here.
If you would also like our assistance in purchasing your new home, check out our essential buying guide here.
WINTER 2022/2023
Market Strategies to Avoid Costly Mistakes
The market is balanced and predictable. Sale prices have decreased, and buyers have plenty of homes to choose from. This will change the tactics for both buyers and sellers.
Buyers: No blind bidding, and suffering buyer’s remorse later on. Negotiation is back, multiple offers are rare and you will likely pay less than asking price. If you have a home to sell you can probably write an offer subject to the sale of your current home, and include other important subject clauses to protect yourself.
Sellers: talk to your lender prior to listing your home!! You want to make sure you know how much you need to sell for in order to make your next purchase a reality. You are now competing with other sellers for buyers’ attention so focus on making (and keeping) your home show ready.
Questions about important New Legislation?
We have taken the time to read through 3 new Acts of Legislation aimed to slow the market and bring prices down. We have strategies to deal with each of the changes below. Contact us today to discuss how the following may affect you as a seller or buyer.
- BC Strata Property Act outlaws rental and most age restrictions. Yes that’s right, as of November 24th 2022 you can rent your strata property even if the bylaws say no. Also, 55+ is the only age left for strata restrictions.
- A 3 day Home Buyer Rescission Period comes into effect Jan 3, 2023 in BC. This allows for buyer to rescind an offer without justification 3 business days after acceptance. If a buyer actually exercises the rescission right the buyer must pay the seller 0.25% of the agreed sale price. If however, a buyer goes through normal subject removal and collapses the deal based on a subject clause, no payment to the seller is required.
- Prohibition on the Purchase of Residential Property by Non Canadians Act was enacted in June 2022 to curb what the Government called “unproductive foreign ownership”. This prohibition will come into effect January 2023; however there are many exemptions to this new legislation and in our opinion it isn’t going to affect the Fraser Valley Real Estate market.