Buying and Selling a Home for Canadians for Dummies (For Dummies) (3TH)

Buying and Selling a Home for Canadians for Dummies (For Dummies) (3TH)

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  • 製本 Paperback:紙装版/ペーパーバック版/ページ数 436 p.
  • 言語 ENG,ENG
  • 商品コード 9780470837405
  • DDC分類 643.120971

Table of Contents

Introduction                                       1  (1)
Are You Buying or Are You Selling? 1 (1)
Why Should You Read This Book? 2 (1)
How to Find What You Need 2 (3)
Part I: Deciding to Buy 2 (1)
Part II: Discovering Your Perfect Home 3 (1)
Part III: Getting the House You Want 3 (1)
Part IV: Deciding to Sell 3 (1)
Part V: Preparing Yourself and Your 4 (1)
House to Sell
Part VI: Sealing the Deal 4 (1)
Part VII: The Part of Tens 4 (1)
Part VIII: Appendixes 4 (1)
Icons Used in This Book 5 (2)
Part I: Deciding to Buy 7 (74)
Looking to Buy a Home? 9 (10)
Joys of Ownership 10 (2)
Should You Buy Right Now? 12 (7)
Knowing your finances 12 (1)
Comparing renting to buying 13 (1)
Considering homeowning concerns 14 (1)
Adding up the costs of homeowning 15 (1)
Understanding the market 16 (3)
Understanding Your Finances 19 (12)
Getting Up Close and Personal with Your 19 (3)
Finances
Determining What Size Mortgage You Can 22 (2)
Carry
Getting a Head Start with a Pre-approved 24 (1)
Mortgage
Anticipating the Closing Costs 25 (6)
Deposit and down payment 26 (1)
Three key closing fees 27 (1)
Appraisals, surveys, inspections, and 28 (1)
condominium certificates
Taxes 29 (1)
Little extras you may not have 30 (1)
considered
Your Mortgage Options 31 (22)
Types of Mortgages 31 (1)
Conventional mortgages 32 (1)
High-ratio mortgages 32 (1)
Mortgage Basics and Jargon 101 32 (8)
Mortgage principal 33 (1)
Interest 33 (4)
Blended payments 37 (1)
Amortization period 38 (1)
Mortgage term 39 (1)
Your mortgage mission 39 (1)
Mortgage-a-rama: All the Nifty Options 40 (5)
Payment options: Open, closed, or in 40 (1)
between?
Portable mortgages and blended payments 41 (1)
Assumable mortgages 42 (1)
Vendor (seller) take back mortgages 42 (1)
(VTB)
Builder/developer interest rate buy-down 43 (1)
Zero down payment 44 (1)
Line of credit 44 (1)
Mortgage Insurance 45 (2)
High-ratio mortgage insurance 46 (1)
Mortgage life insurance 47 (1)
Who Ya Gonna Call? 47 (6)
The information game: What your lender 48 (2)
wants from you
Changing places: Questioning your lender 50 (3)
Finding Your Kind of Home 53 (12)
Houses: So Many Choices 53 (8)
Pros and cons of buying a brand-new home 54 (3)
Resale houses 57 (2)
Move right in, or fix it up: The right 59 (2)
resale home for you
Your Neighbours: How Close Is Too Close? 61 (1)
Homeowning as an Investment 62 (3)
All About Condominiums 65 (16)
Weighing the Ups and Downs of Condo Living 66 (1)
Mondo Condos 67 (8)
Shiny and new 67 (5)
Previously enjoyed 72 (2)
Newly converted 74 (1)
Owning Your Piece of the Condominium 75 (3)
Corporation Pie
Establishing your expenses: The 76 (1)
condominium certificate
Living by the rules: Condos and 76 (2)
condon'ts
Living Co-operatively 78 (3)
Considering the co-op's pros 78 (1)
Weighing the co-op's cons 79 (2)
Part II: Discovering Your Perfect Home 81 (64)
Home-Buying Help 83 (18)
Understanding the Agent's Role 83 (9)
Figuring out your relationship with 84 (3)
your agent and the broker/manager
Choosing an agent 87 (3)
Making your agent work for you 90 (2)
Who Needs an Appraiser and Why? 92 (3)
What is an appraisal? 92 (1)
What will the appraiser look for? 93 (1)
What should I look for in an appraiser? 94 (1)
How much should I expect to pay? 94 (1)
How a Lawyer Fits into the Picture 95 (6)
What a real estate lawyer does for you 95 (2)
Where to find a lawyer or notary 97 (1)
What to look for in a lawyer or notary 97 (4)
Prioritizing Your Needs 101(14)
What's Right for You Now 101(2)
Considering your foreseeable future 102(1)
Saving space for change 102(1)
Knowing What You Want 103(6)
Focusing on your needs 104(1)
Making the list 104(5)
What's Close to Home 109(4)
You and your favourite hangouts 110(1)
Neighbourhood concerns 110(1)
Signs that a neighbourhood is improving 111(2)
Nothing Is Perfect 113(2)
Home Shopping 115(22)
Finding That Perfect Home 115(4)
Use your agent 116(1)
Neighbourhood watch 116(1)
MLS listings 116(2)
Word of mouth 118(1)
Read the news 118(1)
Open houses 118(1)
Sizing It Up: Do You Like the House? 119(1)
I Still Haven't Found What I'm Looking For 120(1)
All Systems Go 121(8)
Heating systems 122(4)
Electrical systems 126(1)
UFFI 126(1)
Septic tanks 127(1)
Well water 128(1)
Stacking Them Up --- How the Homes Compare 129(8)
This Home Is Great! (Except for . . .) 137(8)
Don't Fall in Love 137(1)
Reality Check: Can You Fix the Home's 138(3)
Problems?
Household cosmetics 139(1)
Things you can't change 139(1)
Know when it's not worth it 140(1)
Check It Out: Investigating Your 141(4)
Prospective New Home
Don't be afraid to snoop 143(1)
Ask questions! 144(1)
Has the home been looked after? 144(1)
Part III: Getting the House You Want 145(72)
Home Surfing 147(20)
Smart Searching (Or, Seek and Ye Shall 147(3)
Find)
Keep it brief (But not too brief) 148(1)
Quote me on this 149(1)
Advance your search 150(1)
Surfing Your Way Home 150(6)
A word to the Web-wise 151(1)
Sites worth surfing 151(5)
Follow up 156(1)
Financing Your Home Online 156(4)
Your bank --- virtually 156(3)
Mortgage brokers online 159(1)
Finding the Pros (Or Becoming One in the 160(7)
Process)
Your real estate agent online 161(1)
Appraisers on the Web 162(1)
But that's e-legal 162(1)
Inspectors in cyberspace 163(1)
Movers on the Internet 164(1)
Planning to renovate? 165(2)
Let's Make a Deal 167(8)
Preparing to Make an Offer 167(3)
Get your mortgage pre-approved 168(1)
Get to know the local market 168(1)
Get to know the seller 169(1)
Get to know your limits 169(1)
Making an Offer 170(5)
Who's who and what's what in your 170(2)
contract
All about terms and conditions 172(3)
(``subject to'' clauses)
Signing On to a New Life 175(10)
Taking Care of the Paperwork 175(4)
Removing conditions 176(1)
Paying your lawyer a visit 176(2)
Getting that mortgage 178(1)
Insuring Your Home 179(6)
What to protect 179(2)
How you're protected 181(1)
Extending your coverage 182(1)
Getting the best deal 183(2)
Closing Time: Inspections, Surveys, and 185(18)
Warranties
The Ins and Outs of Inspections 185(11)
Choosing a good inspector 187(1)
Inspecting a newly built home 188(1)
The inspection 189(4)
Condominium inspections 193(3)
You Are the Owner of All You Survey 196(2)
Why you need a survey 197(1)
Finding a professional surveyor 197(1)
Does This Come with a Warranty? 198(2)
What's covered 199(1)
With a warranty, you're in the driver's 199(1)
seat
Pre-closing Walk-through 200(3)
Closing Time: Closing Events and Moving Day 203(14)
What you sign 204(1)
What you pay 204(1)
A Moving Experience 205(7)
Moving day versus closing day 206(1)
Timing is everything 206(2)
Moving your life 208(1)
Moving your stuff 208(1)
Packing it all in 209(2)
Moving it yourself versus hiring 211(1)
professional movers
The moving timeline 212(3)
Two months and counting 212(1)
One month to moving day 213(1)
One week before 213(1)
The day before 214(1)
The big day 214(1)
After the move 214(1)
Getting Possessed --- We Mean, Getting 215(2)
Possession
Part IV: Deciding to Sell 217(38)
To Sell or to Stay 219(12)
Making the Big Decision 219(3)
Home sweet home: Your property 220(1)
Location, location, location: Your 221(1)
neighbourhood
Dollars and sense: Your finances 221(1)
Good Reasons to Stay Put 222(1)
Good Reasons to Sell 223(1)
Timing: Sell First and Then Buy, or Vice 224(7)
Versa?
Riding the real estate cycle 224(1)
Meeting your needs 225(1)
How much can you get for your house? 225(1)
What can you spend on your next house? 226(1)
The safety net: conditional 227(1)
subject-to-sale offers
Buying time with the closing dates 228(3)
The Price of Selling 231(12)
Pricing Your House to Sell 231(3)
How much is your home worth? 231(2)
The three most common pricing mistakes 233(1)
Sum Fun: The Math of Selling Your Home 234(5)
Estimating the costs of selling 234(4)
Tallying it up 238(1)
Some Good News about Taxes 239(4)
Principal residence exemption 239(2)
Moving tax credits 241(2)
Balancing Selling and Buying 243(12)
What to Do with Your Current Mortgage 243(4)
Paying off your mortgage early 244(1)
Letting your buyer take over your 245(1)
mortgage
Taking your mortgage with you to your 246(1)
new home
Trading Up: Your Options 247(2)
Trading Down: Your Options 249(1)
Reversing Your Mortgage 250(1)
To Sell Before I Buy, or Buy Before I 251(2)
Sell?
Selling before you buy 251(1)
Buying before you sell and bridge 252(1)
financing
Timing it right: The ideal selling and 253(1)
buying scenario
Changed Your Mind about Selling? 253(2)
Home equity loans and homeowner lines 254(1)
of credit
Refinancing your mortgage 254(1)
Part V: Preparing Yourself and Your House to 255(54)
Sell
Selecting Your Selling Team 257(16)
Identifying the Right Real Estate Agent 257(6)
What to look for in your agent 258(4)
What to ask your agent 262(1)
Choosing to Go It Alone 263(5)
Saving the commission 264(1)
Working out the costs of selling it 264(2)
yourself
Setting aside your emotions as a 266(1)
homeowner to be an effective homeseller
Getting some help 267(1)
Don't Let Your House Come Back to Haunt 268(5)
You . . . Hire a Good Real Estate Lawyer
Picking the right real estate lawyer 268(3)
Preparing to visit your lawyer 271(1)
Taking care of business: What your real 272(1)
estate lawyer does for you
Listings and Disclosures 273(8)
Listing Contracts 273(4)
Selecting your listing type 273(2)
Detailing your listing contract 275(2)
Disclosure Statements 277(4)
Who sees my disclosure statement? 277(1)
What do I need to disclose? 278(3)
Inspections and Appraisals for Sellers 281(10)
Inspections for Sellers 281(4)
Why you should have your home inspected 282(1)
Why not to have your home inspected 282(1)
What your inspector looks at 283(1)
How to prepare for the inspector 283(1)
What common problems to expect 284(1)
Appraisals for Sellers 285(6)
Does a homeseller need an appraisal? 286(1)
How is an appraisal performed? 287(1)
Appraisals for condominiums 288(1)
Preparing for an appraisal 289(2)
Making Your House Shine 291(18)
Undertaking Home Improvements 291(8)
Creating curb appeal 294(1)
Alluring interiors 295(4)
Going to Market 299(4)
Your basic ``For Sale'' sign 299(1)
Advertise, advertise, advertise 300(3)
Showing (Off) Your Home 303(6)
Fielding the calls 304(1)
Staying secure 305(1)
The open house 306(3)
Part VI: Sealing the Deal 309(30)
The Legal Stuff 311(16)
Recipe for a Successful Contract 311(1)
Reading the Recipe: Basic Contract 312(1)
Know-how
The Ingredients 313(9)
Especially for Condo Owners 322(2)
Deeds and Titles 324(3)
Conveyance 324(1)
Land registries 325(2)
Negotiating Tricks and Bargaining Chips 327(12)
Set the Stage to Negotiate the Offer 327(1)
Keep Your Eye on the Prize: What's Really 328(1)
Important
The Negotiating Process 328(7)
Only consider written offers 329(1)
How low will you go? 329(1)
``Only if you promise to . . .'': 330(2)
Negotiating the ``subject to'' clauses
``I never liked those drapes anyway'': 332(1)
Including appliances and household decor
The closing date 333(1)
Open for acceptance until 334(1)
Signatures 335(1)
Multiple Offers 335(1)
Back-up offers 336(3)
Part VII: The Part of Tens 339(24)
Ten Regional Concerns When Buying a Home 341(6)
Check Transportation Routes in Cities 341(1)
Be Cautious about Industrial Sites 342(1)
Stay Away from Major Roads if You're 342(1)
Noise-Sensitive (Or Nose-Sensitive)
Steer Clear of Emergency Routes 342(1)
Be Certain Your Street's on the Level 343(1)
Make Sure You're in the Good-School Region 343(1)
Avoid Rainy-Day Regions if You're a Sun 343(1)
Worshipper
Watch Out for Waterways 344(1)
Research Services in Rural Areas 344(1)
Think Twice about Lease Land 344(3)
Ten Tips for Condo Buyers 347(6)
Insist on Documentation and Read It as if 347(1)
Your New Life Depended on It
Put It under a Microscope: Condos Need 348(1)
Inspections, Too
Use Your Measuring Tape if You Buy New 348(1)
Get to Know the Board of Directors 349(1)
Stay Away from High-Rent Developments 349(1)
Watch Out for Maintenance Fees That Are 349(1)
Too Good to Be True
Ask about the Building's Commercial 350(1)
Property
Share as Few Walls as Possible, 350(1)
Especially if You Crave Quiet
Own Your Locker 350(1)
Check for Signs of Aging 351(2)
Ten Tips for Condo Sellers 353(4)
Wait Until Your Building Is at Its Peak 353(1)
Prepare the Suite for Sale 353(1)
Let Your Neighbours Know 354(1)
Know Where to Advertise 354(1)
Prepare Documents 355(1)
Fix the Little Things 355(1)
Don't Forget the Storage Areas 356
Familiarize Yourself with the Building 355(1)
My Dear Tenants 356(1)
Light It Up 356(1)
Ten Ways to Protect and Maintain Your 357(6)
Investment
Inspect the Exterior 357(1)
Look at What Surrounds Your House: 358(1)
Landscaping, Yard, and Deck
Maintain Heating and Cooling Systems 358(1)
Stay Warm: Insulation 359(1)
Breathe Easy: Ventilation 359(1)
Sleep Soundly: Home Safety 360(1)
Keep an Eye on Your Doors and Windows 360(1)
Cook Up a Storm in a Safe, Sumptuous 361(1)
Kitchen
Get Away from It All in a Leak-free 361(1)
Bathroom
Confront Your Childhood Fears: Visit Your 362(1)
Basement/Attic
Part VIII: Appendixes 363(64)
Appendix A: Glossary 365(16)
Appendix B: Sample Agreement of Purchase 381(6)
and Sale
Appendix C: Sample Inspection Report 387(18)
Appendix D: Sample Property Disclosure 405(4)
Statement (Residential)
Appendix E: Where Can I Get More 409(18)
Information? Real Estate Resources
Home Shopping or Selling 409(1)
Multiple Listing Service 409(1)
Listing Services 409(1)
Private Sales 410(1)
Mortgages 410(1)
Online mortgage calculators 410(1)
Canada Mortgage and Housing Corporation 411(1)
(CMHC)
Canadian Housing Information Centre 412(1)
(CHIC)
GE Capital Mortgage Insurance Canada 412(1)
Canadian Home Income Plan (CHIP) 413(1)
The Canadian Institute of Mortgage 413(1)
Brokers and Lenders (CIMBL)
Mortgage Brokers 413(2)
Credit Reporting 415(1)
Equifax Canada Inc. 415(1)
Inspectors 415(1)
Canadian Association of Home and 415(1)
Property Inspectors (CAHPI)
Real Estate Associations 416(1)
Surveys 417(2)
Appraisers 419(1)
The Appraisal Institute of Canada 419(1)
Lawyers 419(1)
The Federation of Law Societies of 419(1)
Canada
Provincial Lawyer Referral Services 420(1)
Finding specific lawyers or firms 420(1)
Warranties 421(1)
Homeowner Protection Office in British 422(1)
Columbia
National Home Warranty Programs 423(1)
Builders 423(1)
Canadian Home Builders' Association 423(1)
GST/HST New Housing Rebate 423(1)
Building Resources and Materials 424(1)
House Plans and Design 424(1)
Home Insurance 424(1)
Insurance Bureau of Canada 424(1)
Relocating 425(1)
Movers 425(1)
Packing Supplies 426(1)
Condominiums 426(1)
Canadian Condominium Institute 426(1)
Index 427