Is it a good time to buy real estate?
Thinking about buying a home or investment and have questions about the market? You are not alone. This is the number 1 question I am asked as one of Vancouver’s most active Realtors. This is why I have created a completely transparent Real Estate Market Update page. No sign ups or registrations needed. Just follow the link below. I want my clients to know what I know so we can work together to achieve your real estate goals.
Watch Leo talk multiple offers
What to expect when buying
Buying a home or investment will most likely be one your biggest financial investments. Working with a Realtor who has experience, knowledge and 24/7 availability is integral during the process.
As a Top Vancouver Realtor focused on your goals and with plenty of experience (Since 2006), Leo will be there every step of the way. Buying a home or investment in Vancouver is a complex and detailed oriented task that requires extensive industry and market knowledge. There are extra steps and processes in place which may be challenging for clients to navigate. Leo has the experience to guide your sale and make sure you are protected and 100% happy every step of the way.
“Helping my clients find the perfect home and/or investment is my passion and I look forward to seeing the family grow in the new home or watching their investment grow over the years.”
“Everyday I meet new clients looking to sell their properties because they had purchased it with an inexperienced realtor. They did not know about building flaws, skipped an inspection, did not read the documents properly or were unaware of the less savoury details of a location or house conditions. I make it my priority to be more than thorough when assisting a client in buying a Vancouver home. I insist on complete transparency so you are confident in your buying decision. This is why I make myself available 24/7 during the buying process as I know questions come up at all hours!”
My results speak for themselves. To see comments of past and current services simply “Google” Leo Wilk and see reviews on Google+, Facebook and Yelp! Or see my client testimonials here.
Leo has been a member of The Real Estate Board’s President’s Club since 2019 which recognizes the industry’s Top 1% of Greater Vancouver Realtors (based on homes sold) and Medallion Club (Top 10%) since 2013. With over 10 years of Real Estate experience in Greater Vancouver, Leo is guaranteed to have detailed knowledge of the building, home or location you are interested in.
Leo has all the resources one will need when buying in Vancouver from lawyers to renovation experts, and can help you every step of the way. With amazing relationships with Vancouver’s most experienced inspectors, Real Estate Lawyers and a Mortgage Specialist ensuring your are in the best care.
Buying Vancouver Real Estate: The Process
Step 1: Getting pre-approved for a mortgage
Getting pre-approved / pre-qualified for a mortgage is an integral part of buying Vancouver Real Estate. Without a loan, it is nearly impossible to buy. This quote will help us understand what you can afford and help narrow down properties based on these numbers. There will be many questions about the mortgage and having an experienced broker or banker is integral. To see my top mortgage brokers see my resource page.
Step 2: Finding a home
This is where the fun begins! First we meet in person, input all of your buying criteria into our MLS system, which is much more detailed compared to the public sites available to you. We narrow down specifics such as rental restrictions, outdoor space, pet restrictions, size, price, locations and much more.
I provide you with as much knowledge possible to help you in your buying journey. For example, if you are buying a new or presale home you will need to know about the payable GST and potential New Housing Rebate!
After that, we hit the road for some private viewings, open houses and go over all the information again in person. At this point, we start to narrow the results down to your preferred homes in preparation for an offer. Finding the home or investment that is perfect for you can take a few days, weeks or even years. You will at no point feel pressured to purchase or make a quick decision. I love walking away from a home because that means we are one step closer to finding your dream home. I am available to you as long as it takes!
Step 3: The offer
Now that you have found the perfect property, we make an offer. The contract of purchase and sale includes the price, closing dates, subjects/terms and much more. Negotiations can take a few hours, days or in extreme cases weeks. By this time you will be fully prepared to offer as we have already reviewed the contract in detail and are aware of your conditions and those of the seller
Watch this video below by the British Columbia Real Estate Association (BCREA) for a detailed explanation of the contract of purchase and sale document!
Once an offer is accepted by the seller we have the bank sign off, hire an inspector, prepare your deposit and read up on strata documents if you are buying in a condo or town home development.
If everything goes smoothly we then “remove subjects”, meaning you have legally agreed to buy the home! Time to decide on a lawyer or notary to finish the process.
To watch some tips on multiple offer situations, see the video at the top of the page to see how it works.
Step 4: Closing time and moving in!
3 to 7 days before closing you will meet with a lawyer or notary you have hired to finalize the purchase. The lawyers will handle the transfer of the property title to your name and of course all the financials. Once all that is complete, we get you the keys on your possession date, inspect the home to make sure it is in the same condition we agreed on and you can now start enjoying your new home or investment!
After you are all moved in, I will always be available for you 24/7 with any questions you have about the home. Whether you are considering renovations, wondering about rental rates or thinking about refinancing, I am always available to offer advice.