Welcome 2 Canada 05312010

WELCOME TO CANADAHOME BUYER’S SEMINAR

#welcome2canada

324-2664

276-7077

TonyMcDermottRealEstate.com

AGENDAAGENDA1. “Working with a Realtor” - Tony McDerrmott, Century 21 Action Power

Team

2. “Benefit of a Mortgage Agent” - Reg Bertrand, Mortgage Alliance

3. “Down Payment” & “Pre-approval” - Tom Taylor, First National Financial LP

4. “Credit” - Shannon Parker, Home Trust

BREAK (5-10 mins)

5. “Newcomer’s” - Anny Le, CMHC

6. “Why Home Inspection” - Jim Lepine, Fore Front Home Inspection

7. “Closing Day” - Paul Kelly, Kelly Manthrop Law Offices

8. Panel Q&A

Tony McDermottCentury 21 – Action Power Team

Thanks for coming out, and for the opportunity to present to you valuable information on the home buying process.

The CENTURY 21 Customized Home Search System is designed to help provide you with a full service, successful real estate experience.

I strive to deliver the highest level of service in the real estate industry.

I seek to address all concerns that buyers are challenged with when purchasing a home.

Let me show you how easy your real estate purchase can be.

My Professional ExperienceMy Professional Experience

My philosophy:

“Customer relationships are at the heart of what I do. If you don’t feel that I’ve built a strong relationship with you by the time we’ve purchased your home, then I haven’t done my job.”

My mission statement:

“I strive to make the purchase of your home and all of the associated activities free of stress, easy to understand, and at times, even fun. My goal is to exceed your expectations and provide you with exceptional service throughout our relationship.”

OverviewOverview

Agency Relationships

CENTURY 21® Customized Home Search Services

My Personalized Services

CENTURY 21® Connections

Comparative Property Analysis

Agency RelationshipsAgency Relationships

CENTURY 21CENTURY 21®® Customized Home Customized Home Search ServicesSearch Services

www.century21.ca

My Company Website My Personal Website Property Quick Search E-mail Communication Online Marketing

National Advertising Global Referral Network Seller Service Pledge Quality Service Survey AIR MILES® Reward Program

CENTURY 21Customized Services

Ordinary Services

Online MarketingOnline Marketing

The Internet influences home buying behaviour

Home BuyersHome Buyers

Nearly 3 out of 4 home buyers use the Internet as a tool when searching for a home*

84% of recent home buyers found photos “very useful”*

60% said the same about virtual tours*

* 2007 NAR Profile of Home Buyers and Sellers

Internet StatisticsInternet Statistics

Buyers use the internet to search for homes

84%

Buyers found their home on the Internet 29%First time home buyers used the Internet to search for a home

84%

Repeat buyers used the Internet to search for a home

54%

2007 NAR Profile of Home Buyers and Sellers

What is the implication?What is the implication?

0

5

10

15

20

25

30

35

40

45

50

2001 2003 2004 2005 2006

Real Estate Agent

Internet

Yard Sign

Where Buyer First Learned About the Home They Purchased

The Internet should be leveraged to attract more buyers

The World’s Best Real Estate The World’s Best Real Estate WebsiteWebsite

www.century21.ca

My Personalized ServicesMy Personalized Services

Professional adviceProfessional advice

As your CENTURY 21® sales representative, I am trained to answer your questions, provide professional advice and handle all the details.

Help you succeed in your home Help you succeed in your home searchsearch

Check MLS daily for new listings. Saving you time by screening for properties that best suit your

needs. Network with ALL realtors with listing inventory in the desired

area. Provide you with virtual tour information whenever available to

assist in pre-qualifying properties. Consult and advise in representing your best interests; acting as

a guide to help you make the most informed decisions. Maintain confidentiality. Monitor all activities/handle the details. Provide a Competitive Market Analysis on desired properties. Discuss financing options. Negotiate most favourable terms possible. Using a base of experience, knowledge, tools and training to best

serve you.

My Personalized ServicesMy Personalized Services

No stone goes unturned!My experience has taught me that the best properties are sold before they hit the market.My job is to actively search for those homes for you through proven marketing techniques.

Active pursuit of properties not yet listed...

Peace of MindPeace of Mind

Like you, today’s consumer wants comprehensive services from their real estate professional. CENTURY 21® sales representatives offer the services you want and provide you with the peace of mind you deserve.

Did you know...Did you know...

Buying a home through me willgenerate AIR MILES® reward miles for you!

$200,000 home = 400 air miles

Do you have an AIR MILES Collector

card?

® TM Trademarks of AIR MILES International Trading B.V. Usedunder license by Loyalty Management Group Canada Inc. and Century 21 Canada Limited Partnership.

Making An Educated Offer To Making An Educated Offer To PurchasePurchase

If you are planning to finance your purchase, the offer should be written as “conditional upon financing, (by a certain date).”

Banks can only finance the appraised value or the offer value, whichever is the lesser of the two.

The appraisal method of determining value for residential real estate is customarily the Comparison Approach and traditionally, appraisers use the same database of information as realtors in determining property values.

The following information, drawn from the MLS database, will assist you in making an educated decision on what your offer price should be.

An appraiser determines value based on WHAT BUYERS ARE WILLING TO PAY in today’s marketplace from properties that have recently SOLD!

Together we will execute a planthat will fulfill your dreams of home ownership.

Is there any reason why we can’thelp you find your dream home?

Reg BertrandMortgage Alliance / ServingYou.ca

Working with a Mortgage AgentWorking with a Mortgage Agent

We Know You Really We Know You Really

Don’t Want a Mortgage,Don’t Want a Mortgage,

You Want A Home!!You Want A Home!!

The RIGHTRIGHT counsel, the RIGHTRIGHT service, the RIGHTRIGHT convenience - all to help put you

in the RIGHTRIGHT home.


"The lowest rate will save you hundreds, but the wrong term can cost you thousands."


Popular Fixed Terms… 1-yr, 2-yr, 3-yr, 4-yr, 5-yr

Longer Fixed Terms… 7-yr, 10-yr

Variable Terms…

5-yr closed, 3-yr, 1-yr, 5-yr capped, 5-yr open

Other Terms and Features…

5-yr Cash Back, 5-yr no-frills, Readvanceables, HELOC, Hybrids


Working with me becomes more then just a mortgage.

Help navigate the process of securing financing for your home.

Can become the eyes and ears to the market place for you.

Tom TaylorFirst National Bank

Mortgage Down PaymentMortgage Down Payment

• What?• Why?• When? • Where?• How?


• What?

• Your Equity Stake

• Acceptable Risk


• Why?

Client –

• Reduced Mortgage

• Mitigates Fees

Lender - • Reduced Risk• Greater Flexibility


• When?• Before Broker Meet• During Process• At Lawyers

etc…..


• Where?• Family• Friends• Loan Facilities• Savings• Income• Previous Home


• How?• Gift Letter• Bank Statements• Sales Agreement• RRSP Statement• Corroboration

The Mortgage Pre-ApprovalThe Mortgage Pre-Approval

• What?• Why?• When? • Where?• How?


• What?

• Pre-qualify

• Acceptable Risk


• Why?

Client –

• $$$ Amount

• Rate Hold

• Reduced stress

Lender - • Reduced Risk• Less Paperwork


• When?• Before Shopping• Before Realtor• Before Offer

etc…..


• Where?• Bank?• Friends?• Internet?• Broker….


• How?• Appointment• Discussion• Options• Decision• Financing

Shannon ParkerHome Trust

How to Maximize your Credit Score

What is a Credit Score?

• A Credit Score is a numeric “snapshot” of your credit risk at a particular point in time. It indicates the credit risk associated with the corresponding credit application.


Credit Bureau Quiz????

What is the range of credit scores?

300-900

Who are the two providers of credit bureaus in Canada?

1. Equifax

2. TransUnion


Elements of a Credit Score

Types of credit

New Credit

Length of Credit History

Amount owed

Payment History


Factors That Lower Your Score

1. Too many consumer finance company accounts

2. Account Balances are too high (must be below 65% of your limit)

3. Not enough recent and revolving account information

4. Loan balances are too high in comparison with loan amounts


How to Improve My Credit Rating?

1. Pay or satisfy all outstanding collections and or judgments

2. Bring all trades up-to-date and within the limit

3. Establish a minimum of 2-3 trades with good repayment history for 24 months

• Trades should be a mix of credit cards, installment loans, and department cards


How to Improve a My Credit Rating?• Illustrate use and repayment on a regular

basis

4. Limit credit seeking

5. Limit the number of open trades and balances


Things to remember,• Always pay your bills by the due date, it’s

best to set up automatic payments through your bank account that way you will never forget or be late.

• If you pay your bills online remember it can take up to 5 business days to process, so pay early just to be sure.


Remember,

YOUR CREDIT RATING IS UP TO YOU

Anny LeCanadian Mortgage & Housing Corp

(CMHC)

Canada’s national housing agency

CMHC offers:1. Innovative Financing Options2. Housing Expertise and Advice3. Programs to support Affordable

Housing 4. Housing experience and expertise

globally

Millions of Canadians continue to benefit from mortgage insurance and much more from CMHC

CMHC NewcomerCMHC Newcomer With Permanent Residence Status:

Purchase up to 95% Loan-to-Value (1-2 units)

Purchase up to 90% Loan-to-Value (3-4 units)

CMHC Newcomer – Permanent ResidentsCMHC Newcomer – Permanent Residents

Credit history:

Recommended Beacon Score: 600 Alternatives:

International Credit Bureau Alternative Sources of Credit History

CMHC Newcomer - Permanent ResidentsCMHC Newcomer - Permanent Residents

Alternative Sources of Credit History include: Rent or Room and Board plus one other obligation for the

preceding 12 months Or 3 monthly obligations for the preceding 12 months

Examples of obligations include: Utilities Cable Childcare expenses Insurance premiums Documented regular savings

CMHC Newcomer – CMHC Newcomer – Non-Permanent ResidentsNon-Permanent Residents

Foreign workers with a valid Canadian Work Permit Special situations where a borrower is legally eligible

to work in Canada where a work permit is not required, which may include: Performing Artists Athletes and Coaches Clergy

For a complete list of jobs that are exempt from work permit requirements, see Citizenship and Immigration

Canada’s website (www.cic.gc.ca)

CMHC Newcomer – CMHC Newcomer –

Non-Permanent ResidentsNon-Permanent Residents

Purchase transactions, with a maximum loan-to-

value ratio of 90% Amortizing loan applications Single advance loans One-unit owner-occupied properties

No additional premium surcharge Diplomats are not eligible

CMHC Newcomer – CMHC Newcomer –

Non-Permanent ResidentsNon-Permanent Residents

Purchase transactions, with a maximum loan-to-

value ratio of 90% Amortizing loan applications Single advance loans One-unit owner-occupied properties

No additional premium surcharge Diplomats are not eligible

Jim LepineFore Front Home Inspections

Fore Front Home Inspections Fore Front Home Inspections Protecting Your InvestmentProtecting Your Investment

Active member of

International Association of Certified Home Inspections (InterNACHI)

The Professional Home Property Inspection of Ontario (PHPIO)

International Association of Certified Indoor Air Consultants (IAC2)

Follows Standards of Practices

Up and coming changes within the Home Inspection Business

Why have your home Inspected? Who should perform a home inspection? Where should your home inspector be

looking? What should a home inspector be looking for?

Tarion Inspection Process PDI, One year, Second year

Why Inspect a new home? It comes with a warranty

Questions to ask your home inspector Training Insurance – Errors & Omissions and

Property Liability Duration of inspection time

Paul KellyKelly Manthrop Law Offices

What to Expect on Closing DayWhat to Expect on Closing Day

http://www.slideshare.net/servingyou

Title: Welcome 2 Canada 05312010