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Please think about using one of our REALTORS to help you with your search. We are trained professionals that know the market and are willing and able to help you with all your needs. Selecting one REALTOR to help you with your home search will give you the peace of mind that you have someone working for you.

Your REALTOR will represent your best interests at all times and take the stress and pressure off you. As licenses industry members we have access to all listings in Edmonton and the surrounding areas and are happy to show you anything you want to see.

• Financing - We can help determine how much home you can afford and can investigate different financing options.

• Selection - We have the resources to investigate available properties and provide objective information about each property, neighbourhood, the community and other relevant issues.

• Negotiation - It takes special skills to negotiate successfully. We can help you negotiate factors such as price, financing, terms, date of possession, chattels and repairs.

• Inspection - We can help in negotiating enough time in the purchase contract to complete inspections and investigations, as well as advise which ones are required or recommended.

• Closing - We knows all about the unique closing requirements in the Edmonton region and will advise you accordingly.

Your main expenses will include the down payment and mortgage as well as the costs of completing the transaction

Down Payment and Mortgage

For a conventional mortgage, you will need to pay at least 25% of the purchase price as a down payment. You can obtain a high ratio mortgage— that is, pay 5% down and get 95% financing— if you meet CMHC (Canada Mortgage and Housing Corporation) qualifications.

While you cannot borrow your down payment, gifts from relatives or friends are acceptable. However, if eligible, you can borrow up to $20,000 as an individual (or up to $40,000 as a couple) from your own RRSP through the government's Home Buyers Plan. There are definite advantages to getting pre-approved for a mortgage before you start house hunting.

You may also find a quick answer in our list of frequently asked questions below.

1. Who holds the deposit when I make an offer to purchase?
   It is negotiable between you and the seller. Usually the seller's brokerage holds the deposit “in trust” for both you and the seller.

2. What is the minimum deposit?
   This is negotiable. Discuss with your REALTOR the implications of various options regarding the size of deposit that will best assist you in your negotiations with the seller.

3. What's the difference between chattels and fixtures?
   Chattels are unattached goods that go with the seller; fixtures are attached goods that stay with the property. Any chattels that you want included must be written into the purchase contract and agreed to by the seller.

4. Who does the appraiser work for?
   The appraiser works for whomever contracts for his services. If you are taking out a mortgage and the lender orders an appraisal, the appraiser works for the lender.

5. Who pays the appraiser?
   The appraiser is paid by whomever contracts for his services. If that was the lender, the lender may pass on those charges to you.

6. Do I have to use a lawyer?
   It is highly recommended. If you are getting a mortgage, your lender will probably require that the transaction be handled by a lawyer.

7. Do I have to pay GST when I buy a home?
   Not on private previously-owned primary residential property. All other types, please contact Revenue Canada. Note: there will be GST on any goods and services that you buy or employ in relation to your purchase.

8. Do I have to have an inspection?
   No. The decision to have an inspection is up to you. Discuss the advantages and disadvantages with your REALTOR prior to making your decision.

9. Can I withdraw my offer before it is accepted?
   In most cases, yes. Check with your REALTOR or lawyer regarding the specifics of your offer.

10. Can I withdraw my offer after it is accepted?
    In most cases, no. Check with your REALTOR or lawyer regarding the specifics of your contract.