Larry's HHT (House Hunting Trip) Checklist

Bring the contact information for your lender (phone & fax) or ask your Realtor for suggestions for local mortgage specialists/brokers.  Using a local lender may be more effective if you are under time constraints to fulfill your financing condition during the HHT and may also SAVE you money!  Being Pre-Approved helps you establish parameters.

If you want to shop for a lender on the HHT, bring along:

• a valid copy of your posting message

• a copy of your most recent mid-month pay statement showing all entitlements and deductions

• Proof of down payment.  This should be either a copy of your current bank statement or bank book, or if your funds are in an RRSP, Term Deposit, Mutual Funds or some other form of investment, be sure to bring a statement showing the latest status.

• If the down payment is coming from the equity in your present home, please bring a copy of your most recent mortgage statement showing the balance outstanding, the term, monthly payments, interest rate, etc.  If your home has sold but the sale has not yet been completed, be sure and bring a copy of the Contract of Purchase and Sale, plus copies of any amendments showing the removal of any and all “subject to conditions”.

• If you have any outstanding personal obligations such as car loans, credit card balances, etc., please be sure to bring statements showing your current balances and repayment schedules.

Send the MLS #’s of the homes you want to visit to your Realtor prior to arrival for him/her to review and comment on.  This will help make the most efficient use of your HHT time.  Also request Sold Information to study prior to your HHT.

Advise your Realtor of any special requirements you may have prior to arrival, such as special school or medical needs, high speed internet access, daycare facilities and proximity, second language concerns or working spouse and one vehicle issues.  If required, look for Doctors, Orthodontists, specific practitioners and specialists while on your HHT; ask your Realtor for recommendations.

Bring along your video or still camera to take images of the homes you are viewing, keeping in mind you need the current homeowners permission to take any photos/videos of their home.  Memory is never as good as a picture to rely on for future considerations.

Contracts of Purchase and Sale require a secure monetary deposit.  The amount of the deposit varies, an example would be using $500.00 as a minimum or it could be 5% of the purchase price.  Check with your Realtor for the local standard.  In Cold Lake, the acceptable standard is usually $1000.00.  Bring along your cheque book for the deposit and to pay the Home Inspector (Appraiser), potentially.  In Cold Lake, Home inspections generally average $350.00 more or less.

Come prepared to buy on your HHT.  Please have your deposit funds pre-transferred into your account so you don’t have to worry about savings transfers, mutual fund withdrawals or having to pull limited amounts of cash out of ATM machines on a daily basis.

In some provinces, you require a Birth Certificate to purchase a home, check with your Realtor.

Set up mail, utility, telephone connections if time permits.  Your Realtor is a good source for local experts; lawyers, Inspectors, Contractors, etc.  Have them suggest a good quality hotel in a convenient location (some have non-smoking).  Your Realtor should have information and contact maps, agencies and costs for you.

If applicable, have your spouse bring along their resume to leave with potential employers.

Keep a short list of three homes in your mind and put the remaining homes on a “B” List or reject them altogether.  A good tip is to always eliminate one of the last two homes viewed, carrying one forward out of the two.  If the choice is too hard to make at the time, then carry the oldest one forward as one of the “A” List (further considerations).  This will help. 

Bring SLIP-ON shoes for easy removal when viewing properties.

If you are bringing younger children along, you may want to arrange for childcare for evening showings and for the time when you will be reviewing and signing documentation.  Some hotels offer these services. 

If you require a complimentary relocation package for your new location or a Market Evaluation for your home here, please contact

Larry Melanchuk, RRS, Your Cold Lake Real Estate Connection

At 1-800-707-8374 or via e-mail at larrym@remax-coldlake2000ab.com

No One, But No One, Will Work Harder Than I Will for You
To Help Find You That “Perfect Home”
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