Why Buy With Sotheby's International Realty Canada

General

• What are the main steps in buying a home?

  Finding and buying a home involves the many steps outlined in this section—and more. An experienced real estate agent can provide specialized advice and assistance based on your unique financial, property, and personal needs. Whether you’re searching for your first home, looking to buy property from overseas, or aiming to expand your investment portfolio, our experienced agents are trusted guides who will work to support your interests at every step.
  
  

  
  
  1. Define your goals: Define your personal property preferences, lifestyle, and goals
  
  
  2. Secure your financing: Define your budget and price range
  
  
  3. Selecting your agent: Determine the right real estate professional to advocate for your best interests
  
  
  4. Find your home: Searching for the right home for you
  
  
  5. Submit your offer: Understand market conditions
  
  
  6. Negotiate successfully: Negotiate a favourable price and terms for your purchase
  
  
  7. Managing the sale: Coordinate inspections, financing, moving, and necessary paperwork
  
  
  8. Close the deal: Your new home awaits. Welcome home
  
  

  
  
  For an overview of typical steps and considerations in a home purchase, download our Buyer’s Guide.

• What are the top reasons to work with a Sotheby’s International Realty Canada Realtor?

  Trusted by the world’s sophisticated buyers and investors, our real estate agents are market leaders who have supported many clients in building wealth through real estate. We help you work toward maximizing the long-term value of your property with negotiation skills and strategies that help secure your home at a competitive price given today’s market conditions.
  
  We have processes to assist you in avoiding costly oversights and minimizing potential challenges by guiding you through complex property disclosure reports and documents, identifying potential risks, navigating stressful negotiations and procedures, and prioritizing your interests every step of the way.

• How do I choose the right Realtor when buying a home?

  Working with a real estate agent gives you a valuable edge when navigating a significant financial transaction you’ll make. Begin by reaching out to one or more real estate agents who have experience in your local market and are familiar with the type of property you’re interested in. Meeting with a few agents can help you compare their services and find someone whose approach and communication style align with your needs.
  
  During your initial consultations, ask about their search strategies, the tools they use to find and evaluate properties, and how they support clients throughout the buying process. This is also the time to outline your goals, including your preferred timeline, price range, or specific must-haves for your home.
  
  If you’re also looking to sell a property, share this information early so that they have a clear picture of your overall plans and priorities.
  
  Sotheby’s International Realty Canada agents have access to an exclusive network of thousands of agents across Canada and beyond, ready to help you find your perfect home.
  
  To help you confidently make informed decisions, schedule a complimentary consultation with one of our agents. They can provide the latest market insight, research, strategic advice, and more.

• How does a Realtor help with the homebuying process?

  Purchasing a property is a major milestone; having the right agent can make the entire experience smoother, well-informed, and less overwhelming. From your very first conversation, your agent should take the time to understand your lifestyle needs, budget, and long-term goals.
  
  They’ll guide you in refining your search criteria, help you explore different neighbourhoods or property types, and provide tailored advice at every step of the buying journey.
  
  Your agent will stay on top of the latest listings and proactively share options that fit your preferences. In some cases, they may even have access to exclusive or off-market properties, giving you a competitive edge in a changing market. As you tour potential homes, they should help you assess each one objectively, highlighting key features, noting possible concerns and issues, and advising how each property aligns with your short and long-term goals.
  
  When it is time to make an offer, your agent should recommend a strategy based on current market conditions, your level of interest, and recent comparable sales in the area. They will draft and submit the offer, negotiate on your behalf, and advise you on including any conditions you might want to include, such as financing, property inspection, or appraisal contingencies to help protect your interests.
  
  After your offer is accepted, your agent should continue to manage the details, including scheduling a property inspection, staying in touch with your mortgage broker or lender, liaising with your lawyer or notary, and ensuring that all required documentation and deadlines are met. Your agent’s role is to facilitate communication and assist in coordinating with other professionals involved in the transaction to avoid last-minute surprises as you approach closing.
  
  Throughout the entire process, your real estate agent is your trusted advisor. They are there to help you simplify the process, answer any of your questions, and ensure your best interests are top of mind. Our Buyer’s Guide includes general insights to help you better understand the home-buying experience.

• Why is mortgage pre-approval important when buying a home?

  When there is a high demand and a low volume of the type of property you wish to purchase, written pre-approval is essential and gives you the competitive edge for securing your desired home. For example, when a seller receives two similar offers — one accompanied by a letter confirming financing pre-approval and one not — the former offer is often considered first. Getting pre-approved reassures you that you’ll most likely be able to secure financing for the price/budget you want. It also prevents the worry of load delays, which could result in the home you want going to a different buyer.

• What additional costs can I expect when purchasing a home?

  Along with the down payment and mortgage fees, there are several additional costs to be prepared for when deciding to purchase a home. Generally, you can expect to pay between 2% and 3% of a home’s purchase price in additional fees on top of your down payment amount and regular mortgage payments.
  
  In general, some of these costs can include:
  

  
  
  • Property appraisal fees: Often, lenders will require that you hire an appraiser to determine the market value of a property as a condition of securing a mortgage. The cost of an appraisal may range from about $350 to over $800, but this varies greatly depending on the home and your local market.
  
  
  • Inspection fees: Most real estate agents or lawyers will advise you to include a property inspection contingency in your offer to purchase. A property inspection uncovers any potential issues that need to be repaired. This may cost about $500, but this varies greatly depending on the property and your local market.
  
  
  • Legal fees: The associated fees vary but may be between $1,500 and $3,000. This range varies greatly depending on your needs and your local market.
  
  
  • Mortgage loan insurance premium: If your down payment is less than 20% of the home’s purchase price, you might be required to take out mortgage loan insurance. The premium is calculated as a percentage of your mortgage loan amount.. This varies greatly depending on the specifics of your transaction.
  
  
  • Sales tax on properties: Real estate in Canada is subject to GST or HST at the time of purchase, but there are a number of exceptions depending on the type of sale and the property’s location. Sales tax regulations can change over time; always consult your real estate agent and lawyer to understand the current tax implications when purchasing a property.
  
  
  • Land transfer tax: Upon closing the sale, you’ll be responsible for paying a tax to your province or territory, and in some cases, to your municipality or to the city. This tax is typically calculated as a percentage of the property’s purchase price. There are also exceptions depending on the region, your real estate agent and lawyer would be able to provide you with expert advice.
  
  
  • Moving costs: Hiring a professional moving company can cost anywhere from $50 to $250 per hour and more, depending on factors such as location, distance, level of service, and the size of your move.
  
  

  
  
  For a list of common cost considerations and general guidance, download our Buyer’s Guide. It's always wise to consult your real estate agent and professionals — such as a mortgage broker, lawyer, or notary — to gain a clearer understanding of the costs involved in your property purchase.