1. Get Your Finances in Order

• Check your credit score – better credit means better mortgage terms.

• Save for a down payment – minimum is 5% of the purchase price (higher if over $500K).

• Budget for closing costs – usually 1.5%–4% of purchase price (land transfer tax, legal fees, inspections, adjustments).

• Mortgage pre-approval – secure a rate hold (usually 90–120 days) and know your budget.

2. Define Your Needs & Neighbourhood

• Decide what type of home fits your lifestyle: condo, townhouse, detached, rural property, etc.

• Research Ottawa neighbourhoods (e.g., Kanata for tech, Orleans for families, Centretown/Glebe for urban living, Manotick/Greely for larger lots).

• Factor in schools, transit (LRT), commute, and amenities.

3. Engage Equity One

• We will provide MLS® access, arrange showings, evaluate properties, and negotiate offers.

4. Start House Hunting

• View homes online and in person.

• Compare property taxes, utility costs, and resale potential.

• In competitive Ottawa markets, be prepared to move quickly.

5. Make an Offer

• Your agent prepares an Agreement of Purchase and Sale (APS).

• Decide on price, closing date, deposit (usually 1–5%), and conditions.

• Common conditions:

  • Financing approval

  • Home inspection

  • Status certificate (for condos)

6. Negotiate

• Seller may accept, reject, or counter your offer.

• In Ottawa’s hot neighbourhoods, you may face multiple offers—sometimes without conditions.

7. Satisfy Conditions

• Arrange a home inspection to check for issues (roof, foundation, plumbing, etc.).

• Finalize mortgage financing with your lender.

• If a condo, review the status certificate with your lawyer.

8. Firm Sale

• Once conditions are waived, the sale is “firm.”

• Your deposit is applied toward the purchase price.

9. Hire a Real Estate Lawyer

• They handle title searches, land transfer tax filing, closing funds, and registration.

• They’ll also ensure property taxes and utilities are adjusted fairly between buyer and seller.

10. Closing Day

• You provide your down payment + mortgage funds + closing costs to your lawyer.

• Lawyer registers you as the new owner.

• Keys are released (usually late afternoon).

11. Move In

• Arrange movers, set up utilities, forward mail, and update your address.

We’ll keep showing you homes until you find the one that feels just right—no limits, no rush.

A real estate commission rebate is when a portion of the agent’s commission is returned to the client, usually the homebuyer, after the transaction closes. For example, if an agent earns $12,500 on a home purchase and offers a 20% rebate, the buyer would receive $2,500 back. Rebates are legal in Ontario under TRESA as long as they’re properly disclosed, and they provide buyers with savings without affecting the price paid to the seller.

No. A kickback is a payment to a third party (often called a “birddog fee”) who simply connects two parties and has no real involvement in the transaction. A rebate, on the other hand, is a return of part of a payment to the person who actually made it.

In real estate, the buyer purchases a home from the seller, and the seller pays commissions to the agents involved in the deal. A rebate is a portion of the commission earned that is then given back to the buyer from his or her agent.

Real estate commission rebates are legal in Ontario under the Trust in Real Estate Services Act, 2020 (TRESA).

While we do not offer mortgage services directly, we have partnered with a few terrific mortgage brokers who can assist with the pre-qualification process.

Greg Lamoine
Capital Home Lending
PHONE: 613.852.4201
https://capitalhomelending.ca/greg-lemoine/

Tibor Schultz
Smart Debt Mortgages
PHONE: 613-762-5696
https://www.tiborschultz.com/

Yes, here is a breakdown of the costs associated with buying a home.

• Down Payment – Minimum 5% of purchase price (higher if you want to avoid mortgage insurance).

• Land Transfer Tax (LTT) – One-time provincial tax, with first-time buyer rebate up to $4,000.

• Legal / Lawyer Fees – About $1,500–$2,500 for closing, paperwork, and registration.

• Disbursements & Registration Fees – A few hundred to around $1,000 for title search, registration, courier, etc.

• Title Insurance – Usually $200–$500 depending on home value and lender.

• Home Inspection – Typically $350–$700 in Ottawa.

• Appraisal Fee – Around $300–$500 if required by the lender.

• Mortgage Insurance (CMHC / default insurance) – Required if down payment is under 20%; premium varies.

• HST / GST on New Builds – May apply on new homes/condos (with possible rebates).

• Adjustments – Reimburse seller for prepaid property taxes, condo fees, or utilities.

• Home Insurance – Required by lenders; typically $800–$2,500/year.

• Survey / Boundary Survey – $1,000–$2,000 if needed.

• Moving Costs – Around $1,000–$2,500 locally, more for longer moves.

• Utilities & Setup Costs – Deposits, account changes, and monthly bills.

• Property Taxes – Ongoing annual cost; in Ottawa, about 1–1.2% of assessed value.

Rule of thumb: closing costs (not including the down payment) usually run 1.5–2% of the purchase price.