THE FOURNIER REAL ESTATE GROUP
TOP 1% OF ROYAL LEPAGE REALTORS IN CANADA (2023)
HIGHEST TEAM AWARD IN ONTARIO (2023)
BUYING A HOME WITH THE FOURNIERS
Ranked within the top 1% of Royal Lepage realtors in Canada (2023) – the Fournier Real Estate Group proudly stands as one of the top-producing real estate teams in the greater Ottawa area.
Born and raised in the Embrun region – the group managed to carve a niche in some of Ottawa’s greatest suburbs, including: Embrun, Limoges, Russell, Casselman, Crysler, Rockland, Wendover, Orleans, along with all surrounding housing markets.
The Fournier Real Estate Group is a bilingual, family-owned & operated real estate team that shares a deep-rooted passion for all things real estate. Furthermore, they are proud members of the Royal Lepage network – Canada’s largest real estate brokerage. Opting to collaborate with the Fournier’s ensures you benefit from a combination of nationwide coverage, and potent local expertise, a proven recipe for our buyers, sellers, and developers.
Whether you’d like to buy a home, or would simply like to get a better sense of the market, one of our experienced realtors will be happy to assist.
Curious to know more? Scroll through this page to get a better grasp of our team’s full-service approach.
SCHEDULE A BUYERS CONSULTATION, AT YOUR CONVENIENCE
BUYING A HOME WITH THE FOURNIERS, STEP BY STEP
STEP I - DETERMINING YOUR BUDGET
Embarking on the quest for the perfect home starts with a pivotal first step: defining your budget. Your budget forms the bedrock of your entire house hunting expedition, ensuring that we only focus on properties that align with your specified purchase limit.
To establish your budget, we strongly recommend individuals contemplating a home purchase to begin the process by obtaining a mortgage pre-approval letter.
Consider the following industry insights and crucial factors when setting your budget:
'ALL CASH' PURCHASE
An all-cash purchase signifies that the buyer is acquiring a property using existing assets, or cash readily available to them. In this scenario, the buyer covers the entire purchase price without relying on external financing, ensuring a swift transaction on closing.
A financed purchase means the buyer acquires a property using a portion of their assets/cash, and secures the remaining balance of the purchase price from an external institution (such as a bank, credit union, or private lender).
If you’re in a situation where you have to opt for financing to facilitate your purchase, we strongly advise starting with the crucial step of obtaining a mortgage pre-approval. The pre-approval determines the mortgage amount for which a lender has pre-qualified you for, based on the information you’ve provided them (including details like: debt, income, debt-to-income ratio, down payment, current employment, and more).
DETERMING YOUR BUDGET
Even if you receive an $800,000 pre-approval, it doesn’t necessarily mean that you should purchase an $800,000 home.
We encourage our clients to thoroughly assess their financial situation, their desired lifestyle, and to establish a budget that aligns with their unique circumstances. Here’s a short-list of key considerations when determining your budget: housing cost of living, lifestyle cost of living, potential home repairs, vacations, etc.
In addition, it’s crucial to factor in closing costs. There are three primary closing costs to include in your budget:
- Land transfer tax
- Legal fees, including lawyer’s services
- Moving expenses (covering items like: furniture, appliances, hiring a moving company, groceries, house supplies, and more).
For an accurate estimate of the land transfer tax and lawyer fees specific to your purchase, we suggest consulting directly with your real estate lawyer.
STEP II - IDENTIFYING YOUR WANTS & NEEDS
Once you’ve determined your budget, it’s time to identify your list of wants & needs.
Defining the type of home that suits your preferences and determining the necessary interior space is a crucial aspect of the home search process.
In today’s real estate market, popular home types include condos, semi-detached houses, townhouses, single-family homes, duplexes, 4-plexes, and more. Additionally, it’s essential to narrow down your preferred layout, whether it’s a bungalow, 2-story, slab-on-grade, split-level, apartment, and so on.
Consider various home styles, such as open-concept, closed-concept, modern, traditional, industrial, and others.
When assessing interior space requirements, take into account factors like total square footage, the number of bedrooms and bathrooms, the use of the basement and garage, available storage space, kitchen layout, overall home design, and more.
It’s important to establish the type of home you wish to have, and how much interior space you’ll need.
Here’s the most popular types of homes we encounter in today’s marketplace: condo’s, semi-detached, townhouses, single-family, duplexes, 4-plexes, and more.
It’s also important to narrow down what style of structure you wish to have: bungalow, 2-story, slab-on-grade, split-level, apartment, etc.
As for the interior space, here’s some important choices to make: total square footage, # of bedrooms, # of bathrooms, basement use, garage use, storage space, kitchen space, overall layout, style of home, etc.
HERE'S A COMPREHENSIVE CHECKLIST OF THINGS TO THINK OF WHEN ESTABLISHING YOUR WANTS & NEEDS:
III - LET THE HOUSE HUNTING BEGIN
With your budget set and your list of wants and needs in hand, it’s time to embark on your house-hunting journey!
CUSTOMIZED EMAIL PORTAL
Initially, we will establish a customized email portal tailored to your specific preferences. This portal simplifies your ability to stay informed about the market and ensures that you receive timely updates on properties that match your criteria.
When we discover a property that piques your interest, we’ll arrange a showing so you can visit the property in person. This allows you to thoroughly examine both the interior and exterior of the property, as well as assess the neighborhood, nearby amenities, and more.
THE DUE DILIGENCE
Our team takes the initiative to perform a thorough due diligence on the property you’re interested in before proceeding with an offer. It is of utmost importance that you are well-informed about all the property’s particulars and disclosures in advance, enabling you to make a well-considered decision when formulating your offer.
IV - MAKING AN OFFER
When you’ve discovered the perfect property, it’s time to get ready to submit your offer. Rest assured, our team of experts is here to assist you in crafting a well-prepared offer, navigating negotiations effectively, and ultimately securing the acceptance of your offer on favorable terms.
Our team is committed to offering sound guidance to ensure that your offer is accurately crafted and your interests are safeguarded.
Your offer will encompass essential details such as the purchase price, closing date, deposit amount, irrevocable period (the deadline for offer acceptance), inclusions, exclusions, rental items, and any specific conditions, such as financing approval, inspections, or other applicable conditions.
THE ACCEPTED OFFER
Upon the acceptance of your offer, we will enter the ‘conditional period,’ during which you will have a set deadline by which to meet your specified conditions. These may include securing financing approval, carrying out a home inspection, conducting septic and well/water inspections, and any other relevant conditions.
FULFILLING YOUR CONDITIONS & FIRMING UP THE DEAL
After completing thorough due diligence, you’ll reach a pivotal decision point. You can opt to proceed with the purchase by satisfying your conditions, request necessary repairs or financial compensation for any issues discovered during the conditional period, or explore other alternatives.
Your realtor’s expertise is instrumental in guiding you through the process of fulfilling these conditions. Once you’ve successfully met your conditions, congratulations, your purchase transitions to a firm and final status!
V - THE CLOSING DAY
With your offer now finalized, it’s time to ensure everything is in order for your closing day!
LAWYER / MORTGAGE
Once your offer is firm, we will facilitate a seamless handover to your attorney and mortgage representative to ensure all the necessary preparations are in place for the successful closing of your transaction.
UTILITIES / SERVICES TO CONTACT
You’ll also want to get in touch with a variety of utility and service providers to set up your essential services. Here’s a helpful checklist: electricity, gas, internet/phone, water/sewer, property taxes, post office, home insurance, and more.