DEXTER REALTY
BUYER’S GUIDE
Congratulations on
taking this rst step
toward buying a
home!
Buying a home, whether it’s your rst time or your fth,
can be a little overwhelming. While it’s easy to get swept
up in the excitement, it’s even more important to keep
your eye on the big picture. Your new home might be the
single most valuable purchase you’ll ever make—one that
can increase your future net worth as you build equity in
your home.
We have condensed four decades of in-house expertise
into an easy-to-use guide for rst-time home buyers and
seasoned investors alike.
When it comes to buying a home, we know real estate
stakes are high. That’s why we set our standards even
higher.
Key questions
Choosing the right realtor
Dexter’s promise
Mortgages & pre-approvals
Making an educated offer
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9
13
17
21
Contents
Conditions, inspections & waivers
Closing costs
Preparing to move
Moving checklist
Notes
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25
29
31
37
5
Key questions
to decide before
purchasing a home
Pride of home ownership can be one
of lifes greatest joys and biggest
accomplishments. It is an exciting
time, and our hope is that this guide
will offer helpful insights and peace
of mind during your home buying
journey.
Lets get started.
When embarking on your journey,
the rst step is to focus your
search through the answering of
key questions. These will help you
determine where you want to live,
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what type of home you’re looking for,
and ultimately separate the “must
have features from the “would be
nice to have features in your new
home.
What type of home are you looking for? Single family,
semi-detached? Apartment or townhouse?
What about the age of the home?
How many bedrooms and bathrooms do you need?
What are you looking for in a kitchen or family room?
Do you want a separate dining room? What is your
preferred layout?
What are your high priority features? Hardwood
oors, ensuite, replace? View?
What other types of rooms do you need? Main oor
laundry room, home ofce?
What about parking & storage space?
Is proximity to transit & schools important?
Is energy efciency important? Newer windows or a
high efciency furnace?
How is your daily commute? How easy is it to get to
the places you need to go?
How close do you need to be to transit, shopping,
schools, hospitals?
Are there any important location factors? Backing on
to parks, road trafc?
What size of yard or balcony are you looking for? Is
the backyard important? Or is a side yard okay? What
about the front yard?
What other landscaping features are important?
A fenced yard, play areas, pool, gardens?
Is it important what direction the house or condo
faces?
How much do you want to invest beyond the
purchase price of the home in terms of nancial or
sweat equity, if you can’t nd all the features that you
want?
How long do you plan to live in your new home?
This can impact the type of home, the location
and how much you will spend.
If you are looking for a condo, is the possibility of
having a pet important?
Invariably there will be tradeoffs, but rest assured that
the right REALTOR® is here to help you sort through
your options and help you nd your new home.
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Choosing the
right REALTOR®
What do we mean when we talk about “the right”
REALTOR®?
We mean nding the professional real estate agent
whose expertise and approach to nding a new home will
perfectly compliment your particular style.
Why work with a REALTOR®?
In the purchase of a property, you’ll be negotiating with a
home owner who has an experienced REALTOR® working
for their best interests—and you deserve the same. But
the reasons for working with a professional agent, backed
by a reputable brokerage, don’t stop there.
First, it’s important to understand whose interests
REALTORS® are legally bound to serve in a
real estate transaction.
The Listing Agent
The Listing Agent is under contract with the home seller to
market and sell their property for the best possible price.
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A listing agent can:
Arrange a showing of a property of interest.
Act in the best interest of the seller at all times.
Provide details about the property.
Cooperate with agents working with buyers.
Your Personal REALTOR®
As a buyer, when you engage the services of your own,
personal agent, you get an experienced professional
working in your best interests, who provides:
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Showings for all properties that match your search
criteria.
Expert advice on essential clauses such as home
inspections and nancing, to ensure you’re fully
protected.
Expert negotiation of the offer to purchase
to achieve the best possible price and terms,
for you the buyer.
Expert advice on market value and inclusions, and
insight into when you might want to walk away
from an offer.
Discovery and disclosure of all information about
the property, including liens, warranties, disclosures,
market statistics and planning activity in the area.
As your Personal REALTOR®, your agent’s job is to
ensure you are an educated buyer in all aspects of
your home buying process.
It’s our goal at Dexter Realty that every buyer enjoys the
highest standards of professional service from their Real
Estate Professional.
Dexters promise
Dexter only accepts the most dedicated, empathetic,
and motivated agents. When we use the title of “agent”
to describe our 160+ team members, that designation
was earned, not given.
Our clients can rest assured that they’re always getting
the cream of the crop—we wouldn’t have it any other
way.
We don’t just follow the standards for quality—we set
them. We’re meticulously above-board in every dealing.
Our agents and clients alike take condence in the
faultless integrity that denes our very DNA.
Integrity, we believe, is what ultimately denes the
highest level of service. It’s also a fundamental aspect of
what denes us as a company. Thats why we’re careful
to have honest, thorough discussions with each and
every one of the buyers we work with. We don’t inate
expectations or badger clients into making a quick
purchase, because our goal is your best experience, not
a fast sale. We’re happy to show you every property of
interest and to seek out others that meet your
“must haves”—we’ll support you in your search for as
long as it takes to nd the home you want at a price
you’re happy to pay.
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A Reputation Earned
Through our unwavering dedication to our clients, we
earned our place as the company to use in the Lower
Mainland.
No one gets lost in the shufe at Dexter. A proud
independent brokerage, were big enough to be
effective, compact enough to offer an unmatched
level of personal attention. This care is reected in
our approach to every segment of the marketplace,
extended to customers of every kind and any price
range, and seen in every Dexter agent from anywhere in
the Lower Mainland.
Each buyer’s purchase is of the utmost importance
to their lives—and we feel the same way about their
success. Enjoy the security and condence that comes
from dealing with professionals who care.
Well Informed
Being well-versed in rules and regulations requires
ongoing commitment, not just a license. We’re typically
the rst to hear about any changes to British Columbia’s
real estate process. Our agents are so well informed that
others often compliment their professional skills, even
when representing the other side on a contract.
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Dexter Realty is completely independent and not
afliated with any nancial institution, which means that
if we are asked to help arrange nancing, we are free to
seek the best rates and terms. There is no conict and
no bias. Our loyalty is to you alone.
That’s the quality of professional you deserve to have on
your side, making sure you get the best deal and avoid
any unwanted surprises.
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What to know
about mortgages
The mortgage industry is a highly competitive eld, one
where interest rates can change at any time. Partnering
with a reputable mortgage broker or nancial institution
to help you nd the right mortgage product, at the best
rate, is a key aspect of the home-buying process.
What is pre-approval?
Put simply, pre-approval is conrmation that a lender
has stated, in writing, that you qualify for a mortgage
loan based on your current income and credit history.
This approval usually species a term, interest rate and
mortgage amount, and will be valid for only a specied
amount of time. So if your search for the perfect home
takes a bit longer, you may need to re-do your
pre-approval.
While theres really no downside to getting a mortgage
pre-approval, there are a lot of potential benets—
especially if you’re house hunting in a competitive city
like Vancouver. Not only can this conrmation of your
mortgage give you condence that you’re looking in
the right price range, but it can also let sellers know
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you’re serious about buying a home. In a multiple-
offer situation, a pre-approval might be the difference
between losing that perfect home and a successful offer.
Benets of Pre-Approval
While it is not mandatory, mortgage pre-approval is
strongly recommended—particularly for rst-time
buyers—as it can offer several advantages that can save
you time and money.
Know your budget
Start your search with the condence of knowing what
you can afford, and what you’d be looking at for monthly
payments.
Simplify your search
Save time by focusing on properties in your ideal price
range.
Save money
Rate guarantees and mortgage terms can save you
money for years to come.
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Enhance your credibility
With a pre-approval in hand, you are announcing that
you are a serious buyer and that your nancial situation
is sound.
Get a better deal
That credibility can translate into negotiating power.
Sellers like to know that buyers already have nancing
in place, and can be more willing to negotiate with those
buyers—which can mean you ultimately get a better
price
5 easy steps to get your mortgage
pre-approved
1. Talk with a mortgage specialist.
There are hundreds of options to choose from when it
comes to lenders. Independent mortgage brokers tend
to offer the most options because they do not just work
with one lender. However, if you have a good relationship
with your bank or nancial institution, contact them as
your rst step towards nding the right mortgage for
you. But be sure to compare rates.
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2. Complete and submit your application with the
mortgage broker.
They will collect your nancial and personal information
in order to nd out how much mortgage you can carry.
This can be done online if your schedule is too busy for a
face-to-face meeting.
3. Gather all the necessary documents.
The mortgage broker will give you a list of documents
that the banks/lenders need to nalize the mortgage.
4. Verication of your details.
They will do their checks and balances to make sure
that you are not getting in over your head.
5. Obtain a copy of your pre-approval.
This is a powerful negotiating tool. The seller of your
dream home will feel more condent that you are the
right person.
At Dexter, we only recommend trusted advisors.
And while we dont have any industry afliations,
we also dont hold back when it comes to telling our
clients about the best in the business. In the mortgage
industry, that’s Jerry and Stephen Jackman of
ThinkMortgage.com
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Making an
educated offer
You’ve found the right REALTOR® and secured your
mortgage pre-approval. And now you’ve found that
perfect new property, the one that meets your
“must haves” and ts in your budget.
Fantastic! You’re doing everything right, and you’re
ready to work with your REALTOR® to make an offer.
What happens now?
1. Your REALTOR®
will conduct a detailed CMA
(Comprehensive or Comparative Market Analysis)
complete with comparable active and expired listings,
recent solds and historical data relevant to determining
the market value of the home. This will empower you
to make an informed decision.
2. Your REALTOR® will then prepare an offer that
protects you, follows your instructions and matches
your schedule and needs.
3. Your REALTOR® will explain the details of the offer,
the terms and suggest options for specialty clauses
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ensuring you know exactly what you are agreeing to.
4. Your REALTOR® will present and negotiate the offer
on your behalf to get you the home that you want at the
best price and terms available.
5. You will need funds for a deposit—typically
approximately 5% of the purchase price. This can be
paid upon acceptance or upon subject removal, and will
go towards your purchase price on closing.
What happens next:
The seller may accept your offer—congratulations!
The seller may reject your offer—not common, but it
can happen and your REALTOR® would endeavor to
nd out why.
The seller may counter your offer, changing the terms
of the offer and presenting that counter offer to back
to you.
Negotiations then continue until agreeable terms
between the seller and yourself are reached, or until
your REALTOR® knows an agreement cannot be
reached and it is time to walk away.
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Conditions, home
inspections and
waivers
Your offer has been accepted.
Congratulations! Now we need
to satisfy the conditions of your
successful offer.
This usually involves performing a home inspection,
getting the rest of your personal information and the
property information to your mortgage broker or bank,
and arranging for any other information that might be
necessary, such as surveys, reviewing the title and any
strata documents. Your REALTOR® will help you make
all the necessary arrangements to ensure that the entire
process runs smoothly before the deadline, and help
obtain answers for any questions you might have.
Finding a Home Inspector
Home inspections allow you to scrutinize the details of
the home and can be vital in saving you from unpleasant
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surprises. Your Dexter REALTOR® will be happy to
recommend a number of highly reputable home
inspectors.
We advise considering the following when making your
nal decision as to which inspector to bring onto your
team, and what to look for when working with them:
Ensure that the home inspector is a qualied and
licensed professional.
Ensure the home inspector checks for visible issues
with plumbing, electrical systems, the roof, insulation,
walls, ceilings, oors and windows, and the condition
of the foundation. They can also check that included
chattels, like furnaces and air conditioners, are in
proper working order.
Ensure your home inspector gives you an up-close
and personal look at your new home. It takes at least
3 hours to go through all the systems and complete
the home inspection, and, if there are any problems,
you'll want to see them rst-hand. Your inspector will
also give you maintenance tips and recommendations
for easy x-ups, if necessary.
Ensure that in the end, you receive a detailed report
that summarizes the condition of your home.
At that point it is your decision whether or not you
proceed with your purchase, or walk away from the
property.
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Closing costs
You’ve done it all—identied your needs, found the right
REALTOR®, gotten pre-approved for a mortgage, found
the home of your dreams and had your offer accepted.
With the help of your REALTOR®, you have navigated
negotiations, conditions, home inspections and waiver.
So all that’s left to do is hand over your down payment,
collect your mortgage funds, pay the seller and get the
keys, right? Not quite.
You’re near the end of your journey. But there are still
some nal costs between you and your new home.
You may have to pay fees, taxes and legal fees when the
purchase of your new home closes. Here are some costs
to consider. Please note that all prices are approximate:
GST 5% OF PURCHASE PRICE ON NEW
CONSTRUCTION. THERE IS A
POTENTIAL REBATE ON THE GST*
INSPECTION $400 TO $800 – WE CAN PROVIDE
YOU WITH A LIST OF QUALIFIED
HOME INSPECTORS WHICH YOU
CAN CHOOSE FROM
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PROPERTY
PURCHASE
TAX
THE TAX IS CALCULATED AS 1%
ON THE FIRST $200,000 AND
2% UP TO $2,000,000, 3% UP
TO $3,000,000 AND 5% ON THE
BALANCE.
FIRST TIME HOMEBUYERS ARE
EXEMPT FOR PURCHASES UNDER
$500,000 AND PARTIALLY EXEMPT
UP TO A MAXIMUM OF $525,000
(HAVE TO BE A RESIDENT OF BC
FOR ONE YEAR).
SURVEY
CERTIFICATE
(HOUSES)
$250 TO $350 THIS CERTIFICATE
THAT SHOWS THAT THE HOME
AND OUTBUILDINGS ON A
PROPERTY DO NOT ENCROACH
ON OR CROSS PROPERTY
LINES. THE VENDOR MAY
BE IN POSSESSION OF THIS
CERTIFICATE AND IT IS NOT
NEEDED FOR STRATA BUILDINGS
(USE THE STRATA PLAN).
STRATA
COST
ADJUSTMENT
THE VENDOR WILL BE
COMPENSATED FOR STRATA
FEES AND PAID AFTER
ADJUSTMENT DATE.
FORM A
(STRATA)
$50 REQUIRED BY THE STRATA
ACT TO SHOW VENDOR DOES
NOT HAVE OUTSTANDING
STRATA FEES.
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INSURANCE
BINDER
$35 NECESSARY TO SHOW
THE MORTGAGE LENDER THE
PROPERTY IS SUFFICIENTLY
INSURED.
PROPERTY
TAX
ADJUSTMENT
THIS AMOUNT WILL VARY
DEPENDING ON THE AMOUNT
OF THE PROPERTY TAXES AND
THE CLOSING DATE OF THE
PURCHASE. PROPERTY TAXES
ARE TRADITIONALLY DUE ON OR
ABOUT JULY 1
ST
OF EACH YEAR.
IF ONE PURCHASES A PROPERTY
BETWEEN JANUARY 1
ST
AND
JUNE 30
TH
THEN THE SELLER
WILL OWE THE PURCHASER
TAXES AS THE PURCHASER
WILL BE RESPONSIBLE FOR
PAYING THE YEARS TAXES COME
JULY 1
ST
. IF ONE PURCHASES A
PROPERTY BETWEEN JULY 1
ST
AND DECEMBER 31
ST
THEN THE
PURCHASER WILL OWE THE
SELLER TAXES AS THE TAXES
WILL HAVE BEEN PAID FOR
JULY 1
ST
. PROPERTY TAXES ARE
ADJUSTED TO THE EXACT DAY
THE PROPERTY IS TRANSFERRED.
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* GST REBATE 36% OF THAT PORTION UP TO $350,000, PHASED
OUT UP TO $450,000
* BUYERS WHO ARE NOT CANADIAN CITIZENS OR PERMANENT
RESIDENCE ARE SUBJECT TO A 20% TAX
INSURANCE INSURANCE IS AN IMPORTANT
PART OF OWNING A HOME,
WHETHER THAT HOME IS
A STRATA PROPERTY OR A
DETACHED HOUSE. YOUR
OFFER SHOULD BE SUBJECT
TO OBTAINING INSURANCE
COVERAGE AND REVIEWING
THE COSTS INVOLVED. FOR A
STRATA PROPERTY, THERE WILL
ALREADY BE AN INSURANCE
POLICY IN PLACE FOR THE
STRUCTURE. YOU WILL WANT
TO RECEIVE A COPY OF THIS
POLICY AND SPEAK TO YOUR
OWN INSURANCE AGENT AS TO
WHAT ADDITIONAL COVERAGE IS
NEEDED.
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Preparing to move
Congratulations, you're about to
move into your new home!
Typically you will have anywhere from 30-90 days to
get everything ready for your home. This period could
be shorter or longer, though, depending on what you
need and have agreed upon with the seller. The closing
date is when you take ownership of your home. You
take possession a day or two after, typically, and thats
when you’ll be able to move in.
It is a good idea to get things organized well in advance
of the closing date to reduce the stress of the move.
Lawyers/Notaries
Your REALTOR® will send your lawyer/notary the
information about your purchase. You will need to
provide them with additional information such as:
insurance, down payment information, fee payments,
adjustment payments and possibly other signed
documents that they ask you for. You will then meet
with the lawyer/notary about a week before the
closing to nalize everything & sign all the required
documents.
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Down Payment and Closing Costs
Make the necessary arrangements to have the funds
available when the lawyer asks for it. Liquidating some
assets can require some additional time.
Movers
Whether you are using professional movers, renting a
truck or getting a bunch of friends together, plan and
organize it early.
Insurance
The lawyer/notary will need a copy of your home
insurance before closing so that the nancial institution
will release the money to them. Call your insurance
broker with the property information. They might also
want to know the age of the house, the condition of the
roof, furnace, electrical system, as well as other general
information.
Change of Address
It’s time to start giving out your new address to
everyone. Use our checklist to make sure you have
everyone covered.
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Utilities
It is important that you call the local utilities to get their
services changed into your name. These include phone,
internet, television, gas, electricity, water, and any rental
agreements. Remember, too, to cancel the services at
your old address.
Moving checklist
There are few times in our lives that are busier than when
were moving homes. We’ve compiled this checklist to
help you feel condent you’ve covered all the details as
you approach—and reach—the big day.
6 Weeks Before
Get estimates & hire a mover. Here are several questions
to ask:
F Are on-site estimates offered?
F How is pricing determined?
F Will the movers pack items? (If so, additional cost?)
F What insurance is included?
F What additional charges may arise?
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F Or, call and get an estimate on renting a moving
truck.
F Get all estimates in writing, and request signed
copies.
F Contact your insurance company for additional
coverage (optional).
F Create a binder to hold all move-related
paperwork (checklist, contracts, receipts)
5 Weeks Before
F Conduct a room-by-room survey. Sort items to
keep, donate, discard & sell.
F Organize & hold a garage sale, if desired.
F Have valuable items appraised. Photograph or
videotape—note any damage.
F Phone to arrange for transfer of homeowners/
rental insurance.
F Locate health practitioners in the community
you are moving to, make arrangements to have
standing prescriptions at a pharmacy near your
new home.
F Notify kid’s schools, transfer records.
F Register at a new school.
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4 Weeks Before
Gather packing supplies, including:
F Boxes (various sizes, wardrobe & specialty boxes)
F Box cutters
F Tape (packing, masking, blue painter's)
F Tape dispensers
F Wrapping materials (bubble, plastic, tissue paper)
F Labels
F Fill out the Change of Address form with the post
ofce
F Send friends and family a “were moving”
announcement
3 Weeks Before
F Pack contents of garbage, attic, and storage areas,
as well as other infrequently used items.
F Mark boxes and furniture with appropriate labels.
F Label & number each box. Keep a master
inventory list with contents of each box.
F Make arrangements to have electricity, phone, gas,
water, sewer, garbage/recycling, cable/satellite
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disconnected in your old home the day you leave
and installed in the new home the day before you
arrive.
F Call a locksmith to have your new home changed
on moving day or shortly thereafter.
F Arrange to have a cleaning company prepare the
new home before you arrive, if desired.
2 Weeks Before
F Pack the bulk of your items.
F Notify magazines, newspaper deliveries, banks,
and credit card companies of your new address.
1 Weeks Before
F Print an information sheet for the movers. Include
new address, directions & your cell phone number.
F Finish packing. Set aside enough clothing for the
week ahead plus a suitcase to pack.
F Place small valuables & important documents in
a box/bag. Ask a friend to hold onto it until your
settled, or keep it in a safe place on moving day.
F Discard any hazardous materials that cannot be
moved in the moving truck.
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Create a last-out, rst-in box with all day to day
necessities, including any of the following that are
acceptable:
F Bedding & Towels
F Toiletries & Toilet paper
F Basic tools
F Cleaning supplies
F Medications
F Snacks
F A few dishes
F Make sure essential tools are handy (screwdrivers,
wrench, pliers, tape etc.)
F Consider hiring a cleaning company to come in and
do a quick clean after the movers leave or schedule
a day that you will come back and make sure
everything is in place for the new occupants.
Moving Day
F Do a walk through before the movers arrive to
make sure everything is packed & labeled.
F Make sure there are no items left behind.
F Give keys to your Dexter REALTOR®.
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F Arrange for someone to direct the movers at your
new home.
Moving Into Your New Home
F Test faucets, toilets, utilities, smoke detectors &
phone systems.
F Begin to unpack.
F Flatten boxes. Set them out for recycling or store
for future use.
F We recommend getting new locks or re-keying
the current locks at your new home and making at
least 2 copies of your new keys.
Within 30 Days of Your Move
Pick up mail being held at the local post ofce and
change address for the following:
F Driver’s License
F Bank
F Revenue Canada
F Auto Registration
F Nexus Card (if you have one)
Would you like a printed copy of this document?

It would be my pleasure to provide you with one if you'd like.




* By providing your information you give Dexter Realty permission to contact about their services.

South Granville
560 – 2608 Granville Street
Vancouver, BC V6H 3V3
604.263.1144
Yaletown
1399 Homer Street
Vancouver, BC V6B 5M9
604.689.8226