When it comes time to buying a home, let the Agents of the Terrace Real Estate Company help. 

Our Goal is to...

1. Identify Your Wants and Needs and to establish an Agency relationship.

By understanding what is important in buying a home, we can suggest your best plan of action and put that into play. With new regulations set, we are required to make sure the consumer knows about the types of relationships that can exist with an agent before we start providing any trading services. There are two types of Agency relationships you can enter into: Client relationship (full representation) or Non client relationship (no agency with limited services). These options are set by the regulators but chosen by the consumer. It is best to speak with one of our Agents so they can explain to you what is the difference and what services each relationship offers. Privacy of confidential information is another part of our role so the consumer needs to understand why we have to collect certain information, what we do with that information and then what other parties we will have to disclose to some of the information to as the deal moves along. There will be forms that we will present to and discuss with you prior to providing trading services to you.

2. Ensure your financial ability

Your real estate agent should have a starting point of your buying power BEFORE we head out showing you homes. The first step to purchasing a home is to meet with a financial adviser and obtain a pre-approval or pre-qualification. Remember: this isn't a final approval but more of a starting point. When you have that ready to go, contact an Agent @ the Terrace Real Estate Company and we will start the process of your house purchase. It's best to obtain an approval where a full credit check has been called for, eliminating any dissapointment afterwards in case there was any debt not known about at the initial meeting.

3. Organize Home Showings and Provide Information on Target Markets

Once you've picked an Agent to work with and have established the type of agency you will be in with that agent, we will now search for homes that fit your criteria and budget and start the showing process. Your Terrace Real Estate Company Agent can also set you up on an auto notification email system that will provide you general information on any new homes that show up on our hot sheet daily. Great benefit for serious buyers and it will include all Terrace listings, not just our own.

4. Write and help you understand the Terms And Conditions of an offer

Once you've found the right home and make the decision to write an offer, with our help, your offer is written on your terms, with professional guidance to ensure it's correct and that all conditions you require are included. Your agent will discuss with you the "conditions" or "subjects" that you may want to include so as to give you time to set up meetings with banks, appraisers, building inspectors, and insurance companies along with having time to do all extras that may be required. These can be water tests, septic searches and receiving strata documents for example. These conditions are written in for your protection so you can work to secure the home you desire. If you work with an agent in a non client relationship, your agent will be very limited on what they can help you with so keep that in mind before making a decision on the type of relationship you want to be in. There is a large risk for both the buyer and agent in this type of agency relationship.

5. Negotiations on your behalf

Most sellers understand that buyers will be looking to negotiate. Usually room for negotiation is available so presenting an offer that is in your comfort zone is important. Knowing a property's selling time on the market, sales in the comparable range, and local neighborhood pricing is valuable when negotiating. Your agent can assist you through the entire process making sure you have all the information at hand allowing you to make the right decisions.

6. Organize the deal

Feeling comfortable with your purchase is a vital part of the home buying experience. Securing the right financing options, hiring a professional home inspector or meeting with an insurance company are areas that an agent can provide guidance on. They can provide you with various options of professionals to call to allow you to decide which company will fit you best.

7. Assist in the Completion and Possession

Once the subjects or conditions have been satisfied on your contract and the sale becomes "unconditional", your agent will deliver to your conveyancer (Lawyer/Notary) all the documentation that will be required to complete the sale. You will be called to meet with the conveyancer to sign all the documents required. We will then contact you on completion date to arrange for you to get the keys on the possession date which is set out in the contract allowing you access to your property and start the adventure of home ownership.


If buying a home is in your future, contact us at the Terrace Real Estate Company. We'd be happy to help.