YOUR PATH
TO
A BUYER'S GUIDE
Kris Buzmion
416.832.0311 | kris.buzmion@exprealty.com
KRIS BUZMION | REALTOR®
homeownership
nice to meet you
KRIS BUZMION
REALTOR®
Hi there! 👋🏼 My name is Kris.
I started my career in Real Estate Industry year 2016 as an Office/Deal Administrator while I was finishing my Bachelor Degree in Finance at Sheridan College (HMC Mississauga Campus). By year 2018, I became an Operations Manager for a team and now also a licensed Realtor® in Ontario.
I bring a robust set of skills that I take immense pride in. My keen analytical abilities, honed through meticulous financial scrutiny, exceptional attention to detail, a hallmark of my auditing expertise. Moreover, my well-honed communication skills enable me to engage with clients effectively, deciphering your needs and negotiating deals with transparency and finesse to help you & your family make informed decisions and achieve your #RealEstateGoals
I can’t wait to connect with you & your referrals! ✨ #KrisLovesKeys
LET'S CONNECT
416.832.0311
KRIS BUZMION | REALTOR®
Scan Me!
My responsibility is to protect the interests of my clients in every transaction.
Dedicated to Your Trust: Providing Professional, Informative, and Reliable Service for Your Real Estate Journey
KRIS BUZMION | REALTOR®
ten steps
TO BUYING A HOME
PREPARE FINANCES
GET PRE-APPROVED
FIND THE RIGHT AGENT
START HOME SHOPPING
MAKE AN OFFER / OFFER SIGNED
BANK DRAFT DEPOSIT
DUE DILIGENCE
APPRAISAL ORDERED
SCHEDULING YOUR MOVE
CLOSING DAY
KRIS BUZMION | REALTOR®
process
HOME BUYING
step 1
step 6
PREPARE FINANCES
BANK DRAFT DEPOSIT
• Saving for your down payment (5%20%)
• Check Your Credit Score Report
• Know Your monthly payment
• Get Pre-Approved
• Earnest Money (Bank Draft) Deposit is part of the things that needs to be fulfilled. Due within 24 hours upon acceptance.
step 2
step 7
get pre-approved
DUE DILIGENCE
• Meet & Fulfil conditions (if any)
before due date
• Home Inspection, Financing Conditions, Status Certificate Review
• Meet with a mortgage broker/your bank
• Prepare your credit
• Set a budget
step 3
step 8
MEET WITH YOUR AGENT
APPRAISAL ORDERED
• Docs To Sign: Buyer Representation &
Working W/A Realtor
• Research area neighborhoods
• Set wants & needs
• Your lender will arrange this for you
• Title Search/Non-Title Search
• Homeowner Insurance
step 4
step 9
START HOME SHOPPING
SCHEDULING YOUR MOVE
• Best to get ready & Start Scheduling
• After Signing, 4 Weeks Prior Closing
• 3 Weeks Prior Closing, etc
• Send the MLS# & Address to the agent
• Schedule your house tour
• Adjust criteria if necessary
step 5
step 10
MAKE An OFFER /
OFFER SIGNED
CLOSING DAY
• Final walk-through
• Review closing statement
• Sign closing documents
• Receive your keys
• Celebrate!
• Research comps in the area
• Work with your realtor to set up the best offer
• All negotiations are finished
• Both parties have signed contract
KRIS BUZMION | REALTOR®
KRIS BUZMION | REALTOR®
PREPARING
for a home loan
PREPARE FINANCES
HOW MUCH HOUSE CAN YOU AFFORD?
Knowing your numbers & monthly payments will save you for being house poor. You want to make sure that you can still live the lifestyle that you want and not just living paycheque to paycheque. knowing your overall financial numbers is essential for effective financial management, avoiding financial pitfalls, and making informed decisions about your homeownership and long-term financial goals If you are not purchasing a home with cash, you will need a mortgage pre-approval provided by your mortgage lender. A lender will work with you to get a loan that meets your needs.
CHECK YOUR CREDIT
You want to know what’s happening and going on your records. You can improve your score by:
•Paying down credit card balances
•Continuing to make payments on time
•Avoid applying for a new credit card or car loan until you have been approved
•Avoid making big purchases until you have been approved
•If possible, avoid job changes until you have been approved
SAVE CASH FOR A DOWN PAYMENT & OTHER EXPENSES
In order to make your dream of buying a home a reality, you will need to save cash for your down payment, earnest money, closing costs & home inspector, etc.
•A Down Payment is typically between 5% - 20% of the purchase price
•Earnest Money (Bank Draft Deposit) is money you put down to show you’re serious about purchasing a home. It’s also known as a good faith deposit.
•Closing Costs for the buyer run between 2.5% - 5% of the loan amount
•A Home Inspection costs $400 to $800
GET PRE-APPROVED
Being pre-approved, unlike being pre-qualified, means you've actually been approved by a lender for a specific loan amount. You will need to provide documented financial information (income, statements, assets, debt & credit reports etc.) to be reviewed & verified by the lender.
KRIS BUZMION | REALTOR®
checklist
HOME LOAN
In order to assess loan eligibility, lenders/mortgage broker/banks typically request the following types of documents from each applicant:
EMPLOYED
- Home Loan Application Form
- Identification (2 pieces of Valid ID)
- Letter of employment
- Two current consecutive pay stubs
- Latest 2 years T4's
SELF-EMPLOYED
- Home Loan Application Form
- Identification (2 pieces of Valid ID)
- Articles of Incorportation
- Confirmation HST is up to date (if applicable)
- Min. six (6) months business bank statements
- Latest 2 years Full T1 Generals incl: Schedules
- Latest 2 years of Notice of Assessments
RETIRED or PENSION INCOME
- Latest year T4's/T5's, OAS, CPP, LTD,STD,WSIB
- Two months current consecutive bank statements
- with ownership confirming pension deposit
- LTD confirmation (Long Term Disability)
- STD confiramtion (Short Term Disability)
ASSETS
- Any savings, chequing, investments, RSP, TFSA
- Vehicle (Year, Make & Model, Approx Value)
- Boats, ATV's, etc. (Yr, Make & Model, Value)
LIABILITIES
- Clear and concise list of any outstanding debts
- Debts that shows outstanding on your credit
A HELPFUL TIP:
Ensure prompt completion and submission of your documents to prevent any potential delays when embarking on your home-buying journey & starting your home shopping!
KRIS BUZMION | REALTOR®
FIND THE RIGHT AGENT
Buying a home is one of the most significant purchases in a lifetime. It is essential to have an experienced agent in your corner, always looking out for your best interest. A buyer agent’s fiduciary responsibility is to represent the buyer and to ensure that they are protected.
After all, a seller has someone in their corner. A listing agent has an allegiance to the seller. Their goal is to get the seller top dollar for their home. There is incredible value in having someone working for YOUR best interests when buying a home.
Have a chat with Kris!
GETTING YOU IN THE DOOR
We will narrow down the homes that fit your unique wants and needs and get you in the door! I look at dozens of homes every week, and I can help you identify potential problems within a home.
HANDLING CHALLENGING CONVERSATIONS
When repairs or changes in price need to be made, I will be your guide and handle requesting any repairs or changes in price to the sellers.
STAYING ON TOP OF THE PAPERWORK
Buying a home involves many types of documentation. I have the experience and knowledge to navigate real estate contracts. Ensuring that nothing is overlooked, and that you truly understand what a paper means before ever signing on the dotted line.
ON YOUR SIDE
A buyer’s agent will represent your best interests. With a pulse on the local market and a sound understanding of how various amenities effect the value of a home, we will make sure we submit a competitive offer on the right house for you.
NEIGHBORHOOD EXPERT
I work daily in neighborhoods with inspectors, contractors, and negotiating with sellers. I have the market knowledge you need to get you the home at the best price! Understanding the local real estate market is essential when it comes time to make an offer on a house.
PROBLEM SOLVER
I will work hard to protect all of your interests and take on any issues that may arise throughout the entire process. I work tirelessly to make sure buying a home is a fun and stress-free process.
AFFORDABILITY
The seller typically pays the commission for both the seller’s agent and the buyer’s agent.
My services are complimentary for you, my buyer clients!
KRIS BUZMION | REALTOR®
START
shopping
KRIS BUZMION | REALTOR®
START HOME SHOPPING
Start touring homes in your price range
Time to start shopping! We will take notes on all the homes we visit. It can be hard to remember all the details of each home, so take pictures or videos to help you remember each home, and review the notes you have written. Once we have found THE house for you, we will present an appropriate offer based on recent sales and current buyer activity in the area, as well as the value of the property in its current condition. Negotiations may take place after the offer is presented.
TIP
Create a list of houses you wanted to visit (keep in mind your wants & needs)
•Send the MLS# & Address of the properties (choose 5-6 properties)
•Provide your availability to view the properties
We will make sure to check every little detail of each house
•Test the plumbing (Home Inspection)
•Test the electrical system (Home Inspection)
•Open and close the windows & doors to make sure they work properly
Evaluate the neighborhood and surrounding areas
•Are the surrounding homes well maintained?
•How much traffic is on the street?
•Is it conveniently located to schools, shopping, restaurants, & parks
KRIS BUZMION | REALTOR®
list
Needs & Wants
It is very important to differentiate between a NEED and a WANT. As a home buyer it is important to have a clear picture of what you are looking for in a home. Keep in mind: bedrooms, bathrooms, & neighborhood. Additional items may include: amount on taxes, maintenance fee, etc.
I NEED
# of Beds:
# of Bath:
Parking Space:
(Bedrooms, Bathrooms, Backyard, Amenities, Parking, etc),
I WANT
Ideas Cities & Communities
BIG NO’s
Items You Want To Stay Away From (3 Storeys, Close to Mainroads, etc)
A HELPFUL TIP:
When creating your buying checklist, prioritize 'needs' over 'wants.' Start with the essential features and then consider your wish list. This approach ensures you find a home that meets your requirements while allowing room for desirable extras.
KRIS BUZMION | REALTOR®
MAKE AN
offer
KRIS BUZMION | REALTOR®
MAKE AN OFFER
WHEN TO MAKE AN OFFER:
So you have found THE house! Congrats! In today’s market when the demand is higher than the amount of homes available it is important to act fast!
HOW MUCH TO OFFER:
We will sit down and look at recent sales and current buyer activity in the area, as well as the value of the property in its present condition. Putting all this information together, we will determine the price that you would like to offer.
SUBMITTING AN OFFER
There are some components to an offer that makes it more appealing to the sellers.
•Put Your Best Foot Forward
We will work together to discuss your options and create your very best offer. Depending on the circumstances, you may have only one chance to make a good impression.
•Put Down a Healthy Earnest Deposit
A large earnest money (bank draft) deposit shows the seller you are serious
•Cash Talks
A transaction that is not dependent on receiving loan approval (financing/mortgage) is more attractive to a seller
•Shorter Inspection Periods
Try shortening the inspection period to 5 banking business days
•Write the Seller a Letter
We will make your offer stand out by writing a personal letter to the seller, explaining why you fell in love with their home.
•Offer to Close Quickly
Many sellers prefer to close within 30 days. Depending on the situation
THE PROCESS
AFTER YOU SUBMIT AN OFFER
THE SELLER COULD
•ACCEPT THE OFFER
•DECLINE THE OFFER
This happens if the seller thinks your offer isn’t close enough to their expectations to further negotiate.
•COUNTER-OFFER
A counter-offer is when the seller offers you different terms. If this happens, you can:
•Accept the seller’s counter-offer
•DECLINE the seller’s counter-offer
•COUNTER the seller’s counter-offer
You can negotiate back and forth as many times as needed until you reach an agreement or someone chooses to walk away.
OFFER IS ACCEPTED - CONGRATS!
You will sign the purchase agreement and you are now officially under contract! This period of time is called the contingency period. Now inspections, appraisals, or anything else built into your purchase agreement will
take place.
KRIS BUZMION | REALTOR®
UNDER
contract
KRIS BUZMION | REALTOR®
BANK DRAFT DEPOSIT
After your offer is accepted, make preparations to secure your bank draft and deposit the funds in accordance with the terms outlined in your Agreement of Purchase and Sale (APS). Ensure this is done within 24 hours of receiving confirmation of acceptance.
DUE DILIGENCE
Conduct all essential tasks to meet any required conditions, such as a home inspection, financing approval, or review of status certificates. This includes scheduling a home inspection, conducting surveys, negotiating or requesting repairs, and more.
Issues typically arise after the home inspection, and those issues tend to result in another round of negotiations for credits or fixes.
1. Ask for credit for the work that needs to be done.
Likely, the last thing the seller wants to do is repair work.
2. Think “big picture” and don’t sweat the small stuff.
A tile that needs some caulking or a leaky faucet can easily be fixed. Repairs are still up for negotiation and perhaps a small credit would help with closing costs.
APPRAISAL ORDERED
Your lender will arrange for a third party appraiser to provide an independent estimate of the value of the house you are buying. The appraisal lets all parties involved know that the price is fair. The loan file then moves on to the mortgage underwriter.
If approved you will receive your final commitment letter that includes the final loan terms & percentage rates.
Property Title Search
This ensures that the seller truly owns the property and that all existing liens, loans or judgments are disclosed.
(Your Lawyer will conduct all title search & non-title search will do this for you)
Homeowner's Insurance
You'll need insurance for the new home before closing. This will protect against things like fire, storms, and flooding
KRIS BUZMION | REALTOR®
scheduling
your move
AFTER SIGNING
•Finalize Home Mortgage
•Schedule Home Inspection
•Declutter! Sort through every drawer, closet, cupboard & shelf, removing items you no longer need or like. Donate or sell items that are in good condition
•Get copies of medical records and store them with your other important documents
•Create an inventory of anything valuable that you plan to move
•Get estimates from moving companies
4 WEEKS TO MOVE
•Give 30 days notice if you are currently renting (if any)
•Schedule movers/moving truck
•Buy/find packing materials
•START PACKING
3 WEEKS TO MOVE
•Arrange appraisal
•Complete title search (Your Lawyers will do this)
2 WEEKS TO MOVE
•Secure Home Warranty
•Get quotes for home insurance
•Schedule time for closing
•Contact utility companies (water, electric, cable)
•Change address: mailing, subscriptions, etc.
•Minimize grocery shopping
•Keep on packing
1 WEEK TO MOVE
•Obtain certified cheque for closing
•Schedule and attend a final walkthrough (buyer visit)
•Finish packing
•Clean
•Pack essentials for a few nights in new home
•Confirm delivery date with the moving company. Write directions to the new home, along with your cell phone number
KRIS BUZMION | REALTOR®
CLOSING
day
KRIS BUZMION | REALTOR®
KRIS BUZMION | REALTOR®
closing day
CLOSING DAY
Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically, closing takes four to six weeks. During this time, purchase funds are held in escrow, where your money is held safe until the transaction is complete.
CLOSING DISCLOSURE
Lenders are required to provide you with a closing disclosure, at least three days before closing. This will show you what your final loan terms and closing costs will be. You will have three days to review the statement. This is done to ensure that there are no surprises at the closing table. If there is a significant discrepancy between the loan estimate and the closing disclosure, we must notify your lender and lawyer immediately.
FINAL WALKTHROUGH
We will do a final walk through the home within 24 hours of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to make has been done (if there’s any).
We will be sure to:
• Make sure all appliances are working properly
• Run the water in all the faucets and check for any possible leaks
• Open and close garage doors with opener
• Flush toilets
• Run the garbage disposal and exhaust fans
CLOSING TABLE
The closing typically happens as soon as the balance has been received by the seller’s lawyer. You will be signing lots of paperwork so get your writing hand warmed up! Some of the papers you will be signing include: the deed of trust, promissory note, and other documents
CLOSING COSTS
Closing costs can vary depending on your home’s purchase price and where you are located. You can generally expect your closing costs to be around 2.5% to 5% of the home’s sales price. These closing costs can sometimes be shared with the seller.
BRING TO CLOSING
• Government-issued photo ID
• Copy of the sales contract
• Homeowner’s insurance certificate
• Proof of funds to cover the remainder of the down payment and your closing costs
RECEIVE YOUR KEYS
Congratulations! It was a lot of hard work but you are now officially homeowners!!
CELEBRATE!
Take a moment to celebrate this new chapter in your life and your successful move! Time to throw a party and get to know your new neighbors!
REVIEWS
KRIS BUZMION | REALTOR®
REVIEWS
"My partner and I were first-time homebuyers looking to buy a place to settle down and start a family. We had no experience house hunting and got in touch with JLT. Kris and the JLT team were amazing and together we were able to purchase our dream home! We had a lot of fun looking through the different properties with Kris and her guidance helped put us at ease. Definitely will use their services again!"
-DANIEL T.
"Kris is very successful realtor, excellent negotiator and very honest during all ups and downs. As we were the first home buyers the road was a little stressful. I can say Kris was not only an agent for us, she became a friend. When we found the place, purchasing process was very seamless, too. I also loved the team that has been kept in touch with us since we purchased the home. Also they send us House & Home every month as a compliment. I love it! 😍"
-DOGA G.
"Having Kris’ assistance in my family’s real estate needs, made it easy for us. She have an extensive knowledge and dedication to help others and really cares about you and your family. She talks about generational wealth and how you can start building that. definitely recommending her!"
-PRINCESS P.
"Kris is an amazing agent, she is very knowledgeable and has amazing negotiation skills! She was able to negotiate and win our forever home for us. She is also very sweet and patient and she listened closely to what we wanted and was able to find our home for us. Thanks Kris!"
-NATALIE D.A
"Kris is an AMAZING agent! She helped me understand the process of being a first time home buyer! She's professional, personable and has excellent knowledge in real estate. She was able to help me with all my questions and I will definitely not hesitate to recommend her to friends and family, or hire her for my own real estate needs."
-SIDRAH M.
"Very proactive and dedicated"
-MICHEL G.
KRIS BUZMION | REALTOR®
YOUR PATH
TO
Kris Buzmion
416.832.0311 | kris.buzmion@exprealty.com
KRIS BUZMION | REALTOR®
homeownership