Frequently Asked Questions

Q: As a buyer, is there a fee that I must pay to an agent or consultant?
A: One of the most common misunderstandings! There is NO FEE to you as the buyer to use me as your consultant and agent.

Q: When should I have my insurance activated?
A: As early as possible or one week before possession in case the seller deactivates early.

Q: How and where are the utilities and taxes adjusted?
A: This is done by your lawyer and are part of your closing costs.

Q: When is my deposit required?
A: Within two business days of your accepted offer.

Q: When do I take the remainder of the down payment in?
A: Your lawyer will call and arrange for you to bring your funds in.

Q: What happens to my deposit if I don’t remove my conditions due to deficiencies?
A: Your full deposit is refunded.

Q: Can I lose my deposit?
A: Yes. If you remove your conditions and do not complete on possession.

Q: I know what day I get possession but what time?
A: The offer to purchase states that 12 o’clock noon is the possession time.

Q: What do we do when deficiencies are found in the inspections?
A: We will negotiate around them and if we can’t, we will obtain our full deposit.

Q: What do inspections cost?
A: Home inspections: $300-$400. Furnace & Chimney: $70-$100. Wood Stove: $95-$300

Q: What are the closing costs(lawyers fees, land title registration, mortgage registration)?
A: These fees are combined at your lawyers office. Typically they should be 1.0% - 1.5% of the purchase price.

Q: Do you have access to all the homes for sale in Saskatoon?
A: Yes. The term MLS mean Multiple Listing Service which acts as an umbrella for all Realtors to trade under.

Q: Where do I take my down payment?
A: You will convey the remainder of the down payment to your lawyer approximately four days prior to possession.

Derek Morgan
Realty Executives Saskatoon

1 306 880.SOLD (7653)
Email Me