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Are you buying in the Greater Calgary Area?

House hunting can be both exciting and stressful. When purchasing a home, you are faced with a multitude of decisions - Are you actually prepared to purchase a home? Have you decided where you want to live or the type of home you prefer? Is your financing in place? Once these questions are answered and you are ready to move forward, the rewards are unquestionable.

The resources here will help you find the answers to most of your questions. Then, when you’re ready, we can show you some of the best neighbourhoods in Calgary. We have the best possible resources and communication systems available today to help you locate the homes that match your specifications. You can start with our listings here. 

We Are Here to Help Every Step Of The Way

We will use our 20 years of experience to help guide you through all the obstacles so that your experience is a positive one. Our top priority is to make sure that your home buying experience is pleasant, cost-efficient, and successful.

Buyers Resources

Take a look at the list below for some helpful advice when you’re in the home-buying market:

New Mortgage Stress Test Starts Jan 1, 2018

15 Tips For The First-Time Homebuyer

Determining Which Kind Of Home Is Right For You

What Can A REALTOR Do For Me?

Making An Offer

Handing Over The Keys – Closing Day

What can a REALTOR^® do for me?

Purchasing real estate is likely the biggest financial commitment you’ll make. The details are complicated and the advice we can offer can make most of the decisions you make along the way a little easier. You will use several professionals in the transaction – your real estate agent, mortgage broker/lender, real estate lawyer and home inspector. Our collective job is to ensure you understand the buying process, have the money to finance the deal, have checked all the legal terms of the property and the contract, and that the home is livable.

With hundreds of transactions under our belts, we have an intimate knowledge of the Calgary housing market. Let Tony and Sheryl Thompson sent your mind at ease through the journey. Here are 7 reasons why we should be part of your transaction:

1. Are you ready to buy? When we first meet we will listen to what brought you to this decision. We will explain the commitment home ownership entails and confirm that you have your financing in place. Home ownership has its rewards but we want to be sure you understand the risks too.
2. Numerous resources to help you in your home search. We have resources beyond the MLS. Sometimes properties are available but aren’t actively advertised in the market. Whether in Calgary or in one of the surrounding communities we can search for what is available.
3. We know the best neighbourhoods in Calgary and the surrounding area. We can provide local community information on schools, shopping and community activities, as well as local information about utilities, zoning, and land use planning. You want to be sure that your new home will be the property that provides the environment you want and will have resale value when it’s time to sell.
4. Provide current information on what is happening in the Calgary real estate market. You want to be sure you are getting the best property for your budget, in the best neighbourhood for you, and for the best price.
5. Timing on your terms. We will help you with your house hunt at your pace. Whether you are looking to move next month or next year, we won’t push you to make a decision you might regret later.
6. Professional negotiation. We will always have your best interest in mind when it comes time to negotiate the terms of an agreement. When you find the home of your dreams we will prepare the paperwork and discuss every detail with you so you are comfortable with your offer. We will compare your offer to other similar closed transactions in the neighbourhood to confirm you are going in with the strongest offer. We will discuss the price, financing, terms, possession date and any additional details such as required repairs or furnishings included. As your agents, we will be sure to include time for a home inspection before you are required to complete the purchase.
7. We make sure everything flows smoothly at closing. Tony and Sheryl Thompson will make sure you ask for the appropriate paperwork from your lender and lawyer and will guide you through the closing process. If a complication arises such as unexpected repairs needed to obtain financing or a complication in the title, we can walk you through the required paperwork, so it’s not too overwhelming. Our experience will help you to objectively resolve these issues and get the transaction closed. 

Looking For More Information About Calgary Homes?

Tony and Sheryl Thompson know the Calgary Real Estate Market and are here to help you. Search for your new home now or contact us to discuss your housing needs.

Making an offer

For some, this can be a stressful period. You’ve created scenarios in your head, checked your bank account to confirm the deposit is already there and considered the layout for your new living room. But the reality of making the offer in person can cast your mind to doubt. That’s why you have a real estate agent on your side. To calm your fears and confirm that all the pieces are in place.

When you find the property you want to buy we will make a formal, written offer to purchase. This is a legally binding contract outlining what you are prepared to pay and the timing, in exchange for the home. Remember, everything is negotiable. You should ask for what you want, but keep in mind this is a two-way exchange and you should be prepared that there may be terms you will need to give up. Tony and Sheryl Thompson will put everything in writing and review the details with you, so you are comfortable with every element of the offer before it is presented. Of course, the more conditions in your offer, the less attractive it will be to the seller. Understand that the seller may counter your offer with terms of their own, such as a higher acceptance price and/or a longer closing period.

Conditional vs. Firm Offers

Before making any offer take the time to confirm your financing and think hard about the investment. You need to be certain this is the purchase you are willing to commit to.

A conditional offer to purchase means that you have placed one or more conditions on the purchase. The sale could be conditional to a home inspection, financing (unless it’s cash) or the sale of your existing home. The home is not sold until all the conditions have been met.

In rare cases, some people make a firm offer. A firm offer means that you are prepared to purchase the home without any conditions. If the offer is accepted, the home is yours. This is usually preferable to the seller, but if you are unable to close you will lose your deposit and may get sued.

A Deposit is Required

Be prepared to provide your realtor with a deposit cheque of about $5,000 to $10,000 to accompany your offer. The full amount will depend on the price. This will be held in trust until closing and is fully refundable if the deal is not accepted. It is credited towards to full down payment for the home. Ask us for details if you have any questions regarding the full amount required.

Acceptance of the Offer

We will present your offer to purchase to the selling agent. After the seller has reviewed the offer, it may be accepted as is, rejected, or returned with a counter offer.

The counter-offer may be any number of variables. Most common are in reference to the price and closing date. The offers can go back and forth until both parties have agreed or one ends the negotiations.

It is always best to know your absolute upper limit before you begin negotiations and be prepared to walk away if the terms are too strict or the price gets beyond what you can afford. Remember, buy with your head, not your heart.

If you would like to talk further about the offer process, please contact us. We are here to set your mind at ease and to make your home buying experience a positive one!

Handing over the Keys – Closing Day

Your offer has been accepted and closing day is here! Today is the start of a new chapter as you are handed the keys. It’s also the day that the final legal and financial details are put in place. Tony and Sheryl Thompson and your lawyer will be on call to ensure every detail is covered. The small details will have been taken care of ahead of time, so in most cases, it will be just a day of waiting by the phone.

You should keep in mind that it is also a hectic day for the seller. Often it’s their moving day and they are trying to move out at the same time that you are anxious to move in. 

Documents prepared prior to closing

1. A copy of the offer will have been forwarded to your lawyer. Your lawyer will have reviewed the conditions of the sale and you will have made him/her aware of how you, and any co-buyers, will be registered on the title of the property. 

2. All of the conditions in the offer to purchase will have been cleared by the closing date. For example, if one of the conditions of your offer was a home inspection, this will have been undertaken and a report provided to you prior to closing. (Usually, the home inspection is undertaken and the report provided prior to the final terms of the offer being accepted by you.)
3. You will have met with your lender and all of your financing details will have been finalized and ready to fall into place on the closing date. 


4. Your lawyer will search the title of the property to ensure that you can purchase the home without any legal problems. (This is a very important detail, as sometimes a seller will list a property that includes another co-owner who may not agree to the sale.) You will also review the Real Property Report (RPR – land survey). Finally, your lawyer will make sure that tax payments have all been made and there are no liens on the home or on any personal property the seller has agreed to sell you as part of the deal. 

5. Your lawyer will prepare a statement of adjustment. This confirms the selling price, adjustments, and the balance (less the deposit you provided with the offer). Your lender will prepare a certified cheque for your lawyer to hold in trust. 

6. Prior to closing, you should have contacted all of the utility, cable, and phone companies to ensure an easy transition of service and billing. If the seller has pre-paid, you'll have to pay them for the portion of the service you assume.
7. Also, your lawyer will need a copy of your homeowner's insurance policy for your new home and property. 

Additional fees paid at closing

Making the final payment on your home isn’t your only expense on closing day. Meet with your lender and lawyer ahead of time to get a full grasp on what is owed as it can be as much as 1.5% to 5% of the purchase price. For example, a purchase could include the following expenses.

• Mortgage Application and Appraisal (sometimes waived by bank)
• Legal Fees & Disbursements
• GST (for new homes only)
• Home and Content Insurance
• Moving and/or Storage Expenses


Tony and Sheryl Thompson are here to help and support you. If you have any questions or want additional detail to any of the information provided here contact us. We look forward to making your home purchase an enjoyable experience!