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Things to know when buying or selling a home in Guelph, Kitchener, Waterloo and Cambridge

Middle-aged male on phone with title "By asking now about my mortgage pre-approval, I'm way ahead. What are you doing?"

Things you’ll need to know when successfully buying or selling a home in Guelph, Kitchener, Waterloo and Cambridge.

Get pre-approval before you list your home – requalify your mortgage.

Other considerations are:

  • Job changes
  • Credit history changes
  • Calculate the equity you’ll have
  • Budget to help you keep on track

Do a Buy/Sell Calculation

Contact us and we’ll send you a free resource that will help you calculate the costs including:

  • Reduction of current debts
  • Realtor commissions and HST
  • Lawyer’s fees
  • Provincial land transfer tax
  • Any mortgage penalty
  • Creating a savings cushion for the unexpected

It’s important to share your information with your realtor so they are better able to serve you.

Ramifications Of Bridge Financing

What to do when closing dates don’t match? It’s normally straight forward if you have a firm purchase AND sale agreement.

Downsizing

Ensure you reduce your household content before you sell. Not only do you need to declutter your home, you also need to prepare the financing even before you list your home. This is a critical step even if you don’t expect to end-up with a mortgage in your new smaller home or condo.

Mortgage Questions?

If you have questions about mortgages and pre-qualifying, contact us! At The Mortgage Centre we love helping people through transitions. We are trustworthy and reliable brokers serving customers in Guelph, Kitchener/Waterloo, Cambridge and beyond!

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