In Ontario, the minimum down payment is 5% for homes up to $500,000. For homes between $500,000-$999,999, you need 5% on the first $500,000 and 10% on the remaining amount. For homes $1 million and above, you need 20% down payment.

CMHC (Canada Mortgage and Housing Corporation) insurance is required when your down payment is less than 20% of the home's purchase price. This insurance protects the lender if you default on your mortgage. The premium ranges from 2.8% to 4.0% of your mortgage amount.

Beyond the purchase price, expect to pay: Land Transfer Tax (0.5% to 2% of purchase price), Legal fees ($1,000-$2,500), Home inspection ($400-$600), Appraisal fee ($300-$500), Property insurance, and moving costs. First-time buyers may qualify for rebates.

Typically 30-60 days from offer acceptance to closing. This includes financing approval (5-10 days), home inspection (within 5-7 days of offer), appraisal (1-2 weeks), and final mortgage approval. Pre-approval can speed up the process significantly.

Pre-qualification is an informal estimate based on self-reported financial information. Pre-approval involves a thorough review of your finances by a lender, including credit check and income verification, giving you a firm commitment for a specific loan amount.

Absolutely! A professional home inspection can reveal potential issues with the property's structure, electrical, plumbing, HVAC, and other systems. This typically costs $400-$600 but can save you thousands in unexpected repairs later.

On closing day, you'll do a final walk-through, sign final documents with your lawyer, transfer funds, receive keys, and officially become the homeowner. Ensure utilities are transferred to your name and you have home insurance active.

Your credit score is now the most important factor in determining how much house you can buy. Lenders use a credit scoring system (also called "FICO" scores) that ranges from 300 to 900. The higher your score, the less of a credit risk you're seen to be. When lenders look at your credit report, they can instantly see your debt levels, payment reliability, and any recent bankruptcies. This credit score determines which loan types you'll be eligible for, how much money lenders will offer you, and what interest rate you'll pay.

To get the highest credit score possible before home buying, avoid applying for any new credit cards or consumer loans. Don't take advantage of "no interest, no payments" offers at stores, and avoid financing a car before your home purchase. Each credit application can lower your score. Also, buying things on credit hurts your credit score and leaves less money for your down payment. Wait until after you've bought your home to shop for furniture and appliances - you can then get a loan for up to 100% of your home's value for these purchases.

There are several simple strategies: 1) Round up your monthly payments - if your payment is $734, rounding to $800 could save over $48,000 in interest and reduce your mortgage by 7.5 years! 2) Make one-time pre-payments using tax refunds - a $1,000 refund on a $100,000 mortgage saves $8,600 and shortens your mortgage by over a year. 3) Choose a 15-year mortgage instead of 30 - while monthly payments are about $200 more, you could save over $92,000 in interest over the life of a $100,000 mortgage at 8%.

Watch for these 6 critical warning signs: 1) Roof leaks - check attic for water marks. 2) Plumbing issues - ensure both fresh water and sewage systems work properly. 3) Electrical problems - test if you can run multiple appliances simultaneously without power failure. 4) Heating/cooling system issues - thoroughly inspect HVAC systems. 5) Bad paint and rotting - use eyes and a screwdriver to check underlying materials. 6) Foundation problems - look for wall cracks, doors not closing properly, and uneven floors, which could indicate serious structural issues.

The top 5 costly mistakes are: 1) Not getting pre-approved to know affordability before making offers. 2) Not understanding agent representation - unless working as your buyer representative, they represent the seller. 3) Choosing the wrong mortgage without consulting a specialist about total borrowing costs and early payment penalties. 4) Skipping professional home inspection, risking huge repair costs later. 5) Not understanding how credit score impacts purchasing ability - consult a mortgage specialist to improve your score if needed.

You can only back out during the condition periods (financing, inspection, etc.) specified in your offer. Once all conditions are removed or waived, backing out may result in losing your deposit and potential legal action.

I'll conduct a Comparative Market Analysis (CMA) examining recent sales of similar homes in your area, current market conditions, your home's unique features, and local market trends to determine an optimal listing price that attracts buyers while maximizing your return.

Key preparations include: decluttering and depersonalizing, deep cleaning, making minor repairs, enhancing curb appeal, staging key rooms, ensuring good lighting, and addressing any obvious maintenance issues. I can provide a detailed preparation checklist.

In the current GTA market, well-priced homes typically sell within 15-30 days. Factors affecting timeline include pricing strategy, home condition, location, season, and market conditions. I'll provide a realistic timeline based on your specific situation.

Typical selling costs include: Real estate commission (typically 5-6% total), legal fees ($1,000-$2,500), staging costs (if applicable), minor repairs/improvements, professional photography, and potential capital gains tax (if not your primary residence).

It's generally better for sellers to be absent during showings. This allows potential buyers to freely explore and envision themselves in the space without feeling rushed or uncomfortable. I'll handle all showings professionally.

Multiple offers are great! We'll review each offer considering not just price, but also conditions, closing date, deposit amount, and buyer qualifications. I'll guide you through comparing offers and negotiating the best overall deal.

Absolutely! Most sellers live in their homes during the selling process. We'll work together to schedule showings conveniently, keep the home show-ready, and ensure a smooth transition to your new home.

If your home doesn't sell as expected, we'll reassess the marketing strategy, pricing, presentation, and market conditions. Options include price adjustments, enhanced marketing, staging improvements, or seasonal timing considerations.