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Buyer'sGuide705 731-9802 | taradrealtor.ca| tdibranou@gmail.com
ContentsBUYER'S GUIDEThe Home Buying ProcessOffer Accepted!Closing DayMortgage GuideWhat Not to DoSuccess StoriesMeet Your AgentHouse Hunting TipsMaking an OfferFinal Steps Before ClosingHouse Wants & Needs ListBut First, Get Pre-Approved!Questions to Ask LendersLoan Application Checklist705 731-9802 | taradrealtor.ca| tdibranou@gmail.com
Loyalty & RespectExpert GuidanceSERVICES OFFERED I am here to guide you through the process!Honesty & IntegrityWHAT YOU CAN EXPECT FROM ME Pricing & Statistics onMarket Condition Buyers FAQ’s Post Closing Costs ConsultationShowing Etiquette 705 731-9802 | taradrealtor.ca| tdibranou@gmail.comBuyers Consultation Buyer ContractsExplainedProperty Search OptionsNegotiation ExpertiseVendor ReferralsResponsive & Timely
Let's ConnectMEET YOUR REALTOR®Hi, I'm Tara tdibranou@gmail.comtaradrealtor.ca850 Lansdowne Street West Peterborough, Ontario K9J-1Z6You can also find me on:705 731-9802Tara Dibranou, a dedicated professional, derives great satisfaction from assistingclients in navigating the dynamic real estate market. With a straightforward anddirect approach, Tara is committed to achieving your goals while prioritizing yourbest interests. She perseveres until she attains success, demonstrating a steadfastdedication to client satisfaction.Over the past five years, Tara has accumulated extensive knowledge in her realestate practice, successfully guiding numerous buyers and sellers. Her ability topivot and adapt in tumultuous market conditions is evident in her track record ofnavigating multiple offers, bidding wars, and crafting numerous successful offers.Tara excels in delivering service excellence with unwavering tenacity.Recognizing the importance of continuous improvement, Tara remains dedicatedto professional development. She has obtained her ABR® (Accredited BuyerRepresentative), SRES® (Seniors Real Estate Specialist) Accreditation and AEA(Advanced Elite Advocate) Designation, ensuring fiduciary excellence. Taraprovides competent, loyal, ethical, and prudent service to her clients, specializing inthe Kawartha Lakes, Peterborough, and Haliburton areas, focusing on Waterfront,Residential, and Rural Residential Markets.Outside of her professional pursuits, Tara actively engages in community service,volunteering for The Local Food Bank and The Lions Club. In her leisure time, sheenjoys baking, hiking, live theater, wine tasting and birding. Tara also cherisesfamily moments with her eleven-year-old son, Quinn, and her husband, David.Mobile Business Card -Text: tarasoldit to 85377
Get YourKeys!HouseShoppingUnderContractInspection& AppraisalMake anOffer705 731-9802 | taradrealtor.ca| tdibranou@gmail.comTHE HOME BUYING PROCESSSteps to Finding Your Dream HomeGet Pre-ApprovedMeet withAgentSAVE FOR A DOWN PAYMENTCHECK YOUR CREDITDETERMINE HOW MUCH YOU CAN SPENDGET PRE-APPROVED FOR A HOME LOANWhere to StartWhen it comes topurchasing a homein Ontario, findingthe right mortgagelending option iscrucial. Withnumerous optionsavailable,understanding thedifferent types ofmortgages can helpborrowers makeinformed decisionsthat align with theirfinancial goals andcircumstances. Readbelow the variouslending options formortgages inOntario, sheddinglight on theirfeatures, benefits,and considerations.PRO TIP
DOWNPAYMENTMINIMUMCREDIT SCORETERMS20%3.5 - 20%MORTGAGEINSURANCE680-700600640MORTGAGE GUIDEFixed rate mortgages are popular among homeowners seeking stability and predictability in their monthlymortgage payments. With a fixed rate mortgage, the interest rate remains constant throughout the term of themortgage, providing borrowers with peace of mind and protection against potential interest rate hikes. Fixed ratemortgages are available in various terms, typically ranging from one to five years. Borrowers should be aware thatbreaking a fixed rate mortgage before the term ends may result in prepayment penalties. Variable rate mortgages are linked to the lender's prime lending rate and can fluctuate over time. This type ofmortgage often comes with a lower initial interest rate compared to fixed rate mortgages. However, borrowers shouldbe prepared for potential interest rate fluctuations throughout the mortgage term. Variable rate mortgages offermore flexibility, allowing borrowers to make additional payments without penalties. It is essential for borrowers tocarefully assess their risk tolerance and financial situation before opting for a variable rate mortgage.TYPE OF LOAN15-30 YearsOn downpaymentsunder 20%None1-5Years1-5 YearsCMHCThe Conventional mortgages are the most common type of mortgage in Ontario. These mortgages typically requirea down payment of at least 20% of the property's purchase price. Borrowers with good credit scores and stableincomes often opt for conventional mortgages as they offer competitive interest rates and flexible terms. CONVENTIONAL LOANH I G H- R AT I O M O RT G AG E SWhich Type of Loan is Right for You?High-ratio mortgages are ideal for homebuyers who have a down payment of less than 20% of the property'spurchase price. To qualify for a high-ratio mortgage, borrowers must obtain mortgage loan insurance through theCanada Mortgage and Housing Corporation (CMHC) or other private mortgage insurers. While this insuranceprotects the lender in case of default, it allows borrowers to enter the housing market with a lower down payment.High-ratio mortgages often come with slightly higher interest rates to compensate for the added risk.H I G H- R AT I O M O RT G AGE SFIXTED RATE MORTGAGES Insured Conventional oruninsured (Banks )705 731-9802 | taradrealtor.ca| tdibranou@gmail.comUnisured (Blenders) Private Lender varies None5501-5 years 3.5 - 20%
To be pre-approved, the lender will pull your credit and askyou for documentation to verify your finances. Beforemaking an offer on a house, it is best to get pre-approvedto show sellers your offer is serious and that a lender hasalready approved you for enough money to purchase thehome.705 731-9802 | taradrealtor.ca| tdibranou@gmail.comBUT FIRST, GET PRE-APPROVED!Be Ready to Make an OfferPre-QualifiedIn order to be pre-qualified, a lender may or may not checkyour credit score and won't require documentation, onlygoing off what you tell them. This will give you an idea ofwhat you could qualify for, but when you're serious aboutbuying, you'll need to get pre-approved.Pre-ApprovedPRE-QUALIFIED VS PRE-APPROVEDGet pre-approved for a loan first so you can be ready to make anoffer when you find a home you love.VSWhat You Should Know?The minimum credit score required for a mortgage is 600 for banks and insured mortgages, 550 for Blenders, and no minimum for private lenders.If you have bad credit, B lenders and private lenders are generally your only options, but they canrequire you to have a large down payment or existing home equity.You’ll want to aim to have a credit score above 680 to gain access to lower mortgage rates.
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comQUESTIONS TO ASKWhen Choosing a LenderNot all Lenders are the Same.What will my interest and annual percentage rates be?Do I qualify for any special programs or discounts?Which types of home loans do you offer?What estimated closing costs can I expect to pay?What is your average loan processing time?QUESTIONS TO ASK LENDERS the type of loans available, interest rates, and fees can vary. Interviewinglenders is an important step in determining what type of home loan is bestfor you. Can they provide you with a pre approval letter ?Ensure you bring up the DEPOSIT as a topic ofconversation with your lender. It’s important to have your deposit funds readilyavailable. Five percent of the purchase is the industrystandard for deposits. The standard timeline to have thedeposit submitted is within 24 hours of the acceptance ofthe Agreement of Purchase and Sale.PRO TIP
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comto determine loan eligibility, lenders typically require thefollowing types of documents from each applicant:T-4's: last 2 years Pay slip(s) at least 2 months worth showing the most recent fullmonthly income, Bank statements showing direct payroll deposits Bank statements: 2 most recent checking and savings account statementsAddresses for the past 2-5 years and landlord's contact info if applicableRRSP or retirement account statement and summaryAny additional income documentation: pension, spousal support, retirement, childsupport, disability income etc.. Other assets: statements and summaries of TFSA, stocks, bonds, etc.Documents relating to any of the following if applicable: divorce, bankruptcy,collections, judgements or pending lawsuitsStudent loan statements: showing current and future payment amountsCopy of driver's license or ID and Social Insurance CardINCOME DOCUMENTSASSET DOCUMENTSOTHER DOCUMENTSLOAN APPLICATION CHECKLISTDocuments Typically Required by Lendersself-employed; you will need at at least two years of income to be considered, &provide proof such as your income tax returns.Recent letter of employment or current contract executed between the employer andemployee
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comDetermine the features you are looking for in your ideal home and prioritizewhich items are most important to you. No house is perfect, but this willhelp us find the best match for you.____ Bathrooms____ Car GarageIdeal Square Footage:____ BedroomsDesired Location/Neighborhood/School District:Single Family Home Townhouse CondoMove-In ReadySome Work Needed is OKTYPE OF HOMECONDITION OF HOMEFixer UpperSmall or Large YardDESIRED FEATURESMust Have Would Like to Have(Circle)HOUSE WANTS & NEEDS LISTImportant Features You're Looking for in a PropertyOther ___________
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comHOUSE HUNTING TIPSWhen you find a home you want to buy, keep in mind there may be othersinterested in it as well. Be ready to make a solid offer quickly in order to havethe best chance at getting that home.Talk to family, friends and co-workers to see if anyone might know of a housefor sale in an area you're interested in. One of them may even know ofsomeone that's thinking about selling but hasn't put the house on the marketyet. If that is the case then reach out to me so we can orchestrate the bet wayto proceed. Drive around neighborhoods that interest you to get a feel of the area, observehow the homes are cared for, what traffic is like, etc. Go to OPEN HOUSES , seewhat you can get for what you are approved for. Then reach out to me to get theaffordability stats on the area or put on real time property search for active or soldstats in the areas of interest. Be Ready to Make an OfferTake NotesAsk AroundFinding your dream home isn't always an easy task! Have a priorities list butkeep an open mind when viewing houses. Keep an Open MindInvestigate the AreaTips for Finding Your Ideal HomeWhen you seriously start searching … it’simportant to have your deposit fundsreadily available and take intoconsideration any digital transfer times PRO TIPIf there is something you would like to capture as a photo or video, ask your agentto first get the seller’spermission.When visiting a property for sale, remember that it is someone else’s home. Useyour discretion and be respectful of their home and privacy.Avoid capturing personal or identifying information about the homeowners. Thisincludes things like framed family photos and certificates displayed on walls andtables.Do not take photos or videos of contents within cupboards and drawers, or of anypersonal belongings.
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comMAKING AN OFFERFactors that can Make an Offer More EnticingCurrent market conditionsComparable properties recently sold in the areaThe property value of the houseThe current condition of the houseWhen we have found a home that you're interested inbuying, we will quickly and strategically place an offer. ADD A PERSONAL TOUCHInclude a letter to the sellers with your offer, letting them know whatyou love about their home. Adding this personal touch can give you anadvantage over other offers by making yours stand out from the rest.PUT DOWN A LARGER DEPOSITAn offer that includes a larger earnest money deposit presents a moreserious and competitive offer.PAY IN CASH VS. LOANPaying in cash versus taking out a loan offers a faster closing timelineand less chances of issues arising, making it more appealing to sellers.OFFER A SHORTER CLOSING TIMELINEAn offer with a shorter timeframe for closing is generally more attractiveto sellers over one with an extended time period with a house salecontingency. A typical closing timeframe is 30-45 days.PUT IN A COMPETITIVE OFFERWe will decide on a reasonable offer price based on:
When buying a home, the buyer gives a deposit along with their offer to the seller of the property.It is a part of the final purchase price and is paid on successful agreement of the deal. It lends asense of security to the seller as it establishes a stake that you the buyer has in the agreement. Real estate deposits are paid by certified cheque or money order and serves to a) assure the sellerthe buyer is serious, and b) protects the seller should the deal fall through. Generally, your deposit funds will be held in a real estate trust account of the listing brokerage, akathe seller’s brokerage. Trust accounts are exceptionally regulated and routinely audited.705 731-9802 | taradrealtor.ca| tdibranou@gmail.comOFFER ACCEPTED!What's NextCOMPLETE YOUR MORTGAGE APPLICATIONOnce you've come to an agreement on the final offer, it's time to finalize your loan applicationand lock in your interest rate if you haven't done so already. You may need to provide additionaldocumentation to your lender upon request. If you come across any problems in this processplease inform your REALTOR®ORDER AN APPRAISALAn appraisal will be required by your lender to confirm that the home is indeed worth the loanamount. The appraisal takes into account factors such as similar property values, the home's age,location, size and condition to determine the current value of the property. Results of theappraisal need to be communicated to your REALTOR®. ABOUT MY DEPOSITOnce the seller has accepted your offer, both partiessign a sales agreement and you're officially undercontract.Communication with your REALTOR® iscritical especially DURING THIS PHASEOF BUYING PROCESS! PRO TIPSCHEDULE A HOME INSPECTIONHome inspections are optional but highly recommended to make sure that the home is in thecondition for which it appears. A home inspection clause is a provision in a buyer agreement thatstates that the sale of the property is contingent on the results of a home or specializedinspection, and are typically completed within 10-14 days after signing the sales agreement. Thehome inspection will tell you if there are any dangerous or costly defects in the home that needto be addressed. You can then choose to either back out of the deal completely, ask for the sellerto make repairs, or negotiate a lower price and handle the repairs yourself. Renegotiate ifnecessary.
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comBUY OR LEASE A CARWHAT NOT TO DODuring the Home Buying ProcessIt's extremely important not to do any of the following untilafter the home buying process is complete:Any of these types of changes could jeopardize yourloan approval. It's standard procedure for lenders toalso do a final credit check before closing.MAKE A MAJOR PURCHASECHANGE JOBSMISS A BILL PAYMENTOPEN A LINE OF CREDITMOVE MONEY AROUND
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comFINAL STEPS BEFORE CLOSINGYou're Almost there!Insurance RequirementsMost lenders require both homeowner's insurance and title insurance.Homeowners insurance protects your home and possessions againstdamage and theft, while title insurance protects the lender and/orhomeowner from financial loss against claims regarding the legalownership of a home. Policies vary so it's recommended to get quotesfrom multiple companies to compare price, coverage and limits.Closing DisclosureAt least 3 days before closing, lenders are required to provide you with aClosing Disclosure with your final loan terms and closing costs for you toreview. Closing costs for the buyer typically range from 2-5% of the purchase price,which can include Land Transfer Tax, Lender Fees, Lawyers Fees, Proof ofHome Insurance (if using a lender), Title Insurance, and HOA dues ifapplicable.Within 24 hours of closing we will do a final walk through of the homebefore signing the final paperwork. This last step is to verify that nodamage has been done to the property since the inspection, that anyagreed upon repairs have been completed, and that nothing from thepurchase agreement has been removed from the home.Final Walk throughNext Step: Closing!Tips for reducing closing costsClosing costs are inevitable, but there are ways you can try to make them more affordable! Making a down payment of at least 20%. You won’t have any mortgage default insurance premiums to pay tax on.Negotiating with the seller. If a seller is particularly motivated, they might agree to pay some of your closing costs.Comparing Lawyers. Don’t start working with the first real estate Lawyer you call. Find out what a few different Lawyerscharge, both by the hour and for carrying out different tasks.PRO TIP
705 731-9802 | taradrealtor.ca| tdibranou@gmail.comCLOSING DAYCongratulations, You Made it to Closing!ITEMS FOR YOUR LAWYER:Government Issued Photo IDHomeowner's Insurance CertificateCertified Funds or Cashier's CheckFinal Purchase AgreementClosing day is the day when you take legal possession and finally get to call your newhouse your home.There are quite a few things that need to be done on closing day:Your lender will provide the mortgage money to your lawyer or notary.You must provide the rest of the purchase price to your lawyer or notary as well asthe closing costs.Your lawyer or notary pays the person who is selling the house, registers the homein your name, and then gives you the deed and keys to your new home.Always clarify with the lawyer what time you are allowed to go to the home onthe day of closing. Enjoy your new home!Closing is the final step of the buying process.Property ownership is then officially transferred from the seller to thebuyer.
SUCCESS STORIESHere's what our Clients are SayingI cannot recommend Tara enough for the wonderfulexperience my wife and I had when looking for aproperty earlier this year. Tara combines localknowledge with her inherent instinct to look out forclients and place the customer's best interests aboveall. She is thinking about all the little things beyondthe headline items that buyers may not know orforget when looking at a beautifully staged property- Srini V - First time cottage buyer- Ken C -Relocating to the Kawartha LakesWe met Tara last summer (2022) during an open house she washosting. After a 3 year search for the Lake House of our dreams, wehad all but given up hope of finding our family cottage. Tara waswarm and friendly and made us feel like we were a priority. Herextensive knowledge and professionalism provided us withdetailed information and sound advice on the properties weviewed, while always keeping in mind our wants and needs. Shemost definitely went above and beyond for us! Tara was alwaysavailable to talk with either a phone call or text msg and addressany questions or concerns we had. Tara's experience and tenacityshone through, and with her help, we were able to purchase theLakefront property of our dreams. Thank you so much from thebottom of our hearts.See you on the water!- Steve and Elaina - Waterfront Cottage705 731-9802 | taradrealtor.ca| tdibranou@gmail.comWe worked with Tara to buy a house in the Kawartha's. So glad we took ourlocal realtors advice and used an agent who was familiar with the area. Theprocess was actually enjoyable and minimum stress. We ended up finding ahouse we are very happy with and look forward to moving in.Tara was very pleasant and understood what we were looking for.She was always available when needed and even rushed home from a trip toget our deal done since timing was tight to get all the paperwork in.Anyhow, we couldn't be happier with our experience with Tara and wouldrecommend her without hesitation.
Buy with ConfidenceThe dragonfly symbolizes change and personal growth,embodying adaptability and resilience in life's challenges.Its life cycle represents renewal and starting anew.Dragonflies are known for their agile flight and ability tomaneuver with grace. They are seen as a symbol ofadaptability and resilience, inspiring individuals tonavigate life's challenges with flexibility and resilience.705 731-9802 | taradrealtor.ca| tdibranou@gmail.comThe Lifestyle you Deserve!REALTOR® ABR® SRES® AEA