Mortgage borker/Realtor/Lawyer suggestion in Langlye/Surrey area?- first time hombuyer

[werner]

Hi,



I've just moved to BC and now looking for a principal residence here (possibly a townhouse) in langley/Surrey area. I'm planning to stay in the property for about 2 or 3 years and use it a rental property afterwards. I'm looking to move-in to the new property by the end of March 2011.



1)I would really appreciate any recommendation for a mortgage broker/realtor/lawyer who had experience working with REIN members?



2)I would also appreciate if you could me tips/checklist (or links to resources) on things I should be doing as part of my financial/legal preparation and due diligence for the purchase of the property.



Thank you in advance.



Werner

 

[RobMacdonald]

Hi Werner,



One of the first things you should do is get a pre-approval rate hold for the potential mortgage. There is some pressure on the bond market and if you're considering a fixed rate mortgage, there is a good chance we may see an increase in the upcoming weeks.



Getting pre-approved is probably one of the first steps as that will give you an indication of the price range you will be looking in. That's the information your realtor will need in order to narrow your property search.



Additionally, if you are considering a high ratio purchase and want to take advantage of the longer amortization periods, you will have until March 18th to geet approved for the financing. Taking a longer amortization will aslo have an impact on your overall debt servicing, and may also help you when it comes to buying eventual rental properties.



I'd be happy to discuss your option with you!

 

[werner]

hi rob,

thanks..i will send you an email to duscuss my option..

werner

 

[sdolson]

Hi Werner,



Glad to hear you are taking your time and setting up a quality team. I have a few people in mind that I would refer you to that work in the langley and surrey areas. Before I give you a referral I would like to know a little more about your investment strategy (multi-family vs. single family, duplex, condo, detached etc.) as this will definitely impact who I would refer you to.



My e-mail address is [email protected]



Talk soon,



Scott