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tom@tomikonomou.com

Vancouver's Ultimate Buyers Methodology

"Quickly Narrow Down

The Best Home

For the best price in the shortest amount of time possible..."

(Without losing sleep in the process!)

My Value Proposition

Objectives

To go above and
beyond the MLS
service to findyou
the best deals.

To communicate to
you, weekly results
of my Buyer Plan
of Action.

To find your home
for the lowest price
possible in the time
frame best for you

My Commitment To You

•Provide exceptional five star service.
•Negotiate the highest price and mostfavorable terms for you.
•Exceed your expectations.
•Provide you properties that fall within your search criteria.

My Qualifications To Sell Your Home

•Full time Real Estate Agent for 12 years.
•Have had the great fortune of selling hundreds of homes.
•Award Winning Realtor.
•Top 10% of all 14,000 Agents in Greater Vancouver. (2019)
•Professionally Affiliated!

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Here's A Few Other FAQs We Get A Lot:

 When's the best time to buy a house?

The best time to buy a house is whenever you are ready! It sounds cheesy, but it’s true. The market ebbs and flows with the changing of the seasons here in Vancouver, and there are pros and cons to each season.

For example, the Spring market provides more inventory to choose from but the market is substantially more competitive. In Winter, there are less houses on the market, but there is also less competition (less folks want to move in the winter). Schedule a short telephone call today

 What exactly are the closing costs?

Closing costs are fees and expenses that you pay when you close on your house, beyond the down payment. They include things like title insurance, homeowners insurance, appraisals, taxes and more.

The closings costs for Canadian residents are typically around 2.5% of the purchase price. Your lawyer and accountant will be able to give you a more accurate estimate of your actual closing costs. Foreign buyers are currently subject to an additional 20% tax. 

 Do I need 20% down to buy a house?

No you do not need 20% down to buy a home. Unless of course it is over 1 million dollars. Some lenders will ask for a minimum of 25% over 1.5 million.
With conventional loans you can have as little as 5% down. CMHC loans are similar, and have better terms for folks with lower credit scores or high debt-to-income ratios. 

With less money down other things will arise with your monthly payment though, like Private Mortgage Insurance (PMI).
This is all stuff you will talk to a lender about! A good lender will go through your finances with you and talk over all of your options.

 Do I pay my Realtor's commission?

Typically, no.
Most of the time the seller pays for both the Listing Agent’s commission and the Buyer’s Agent’s commission, which comes from the price the buyer and seller have agreed upon.

The only thing you will have to make note of is that some brokerages charge an admin fee. These range from $300-700 dollars and go directly to your agent’s brokerage, not into their own pocket. They typically help support full time office admin roles and other brokerage expenses.

 What additional costs are there?

There are a few additional costs to consider besides your downpayment when buying a home.
The first thing to note are closing costs. While we can negotiate who will pay these, they will still have to be paid at the time of closing. They are typically around 3% of the purchase price.

Secondly, home inspections are always highly recommended! They start at $500. Your Realtor will have a few great recommendations.

There are two other optional inspections that have gained traction over the years and these are Radon Testing and Oil Tank Scans. Both are around $250 each.

As noted in the question box above, a majority of brokerages have administrative fees. These can range from $300-700 dollars and go directly to your agent’s brokerage, not into their own pocket. They typically help support full time office admin roles and other brokerage expenses.
And other than any additional moving expenses you may have, that is it!

 What's the average price of a home in Vancouver?

Typically the actual median price of homes better reflects the most common price, compared to the “average” price. 

If the most expensive home sold at the time you're looking to buy, this price would skew the average price higher than most homes for that area. The median price takes that sale price out of the equation. 
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Buyer Plan of Action

1. Conduct an in-depth consultation
/interview to determine your wants and
needs.
2. Assist you in arranging all financing,
appraisals and inspections.
3. Enter your search criteria into the
Multiple Listing Service (MLS)
database
4. Schedule you for instant property match
email notification.
5. Prospect daily, our database of
clients. Leads and neighbourhoods
that you want to live in leaving no
stone unturned to find the home of
your choice
6. Develop a shopping plan that’s right
for you.
7. Research all For sale by owners,
expired, withdrawn and canceled
listings for additional potential
matches.
8. Contact other top listing agents to
discuss potential pocket listings.
9. Call you daily or as matches occur.

10. Show you the properties you select and
obtain all the information you need to
determine the type of offer you want to
make.
11. Write the purchase contract with
favorable terms to you and
arrange for it to be presented.
12. Handle and keep you informed of all
negotiations of the contracts.
13. Supervise the completion of all the
paperwork.
14. Call you each week and advise you of
the status and answer any questions
you may have.
15. Assist in scheduling inspectors and
appraisers.
16. Review closing documents and arrange for
the closing .
17. Arrange a final walk-through (New
construction only).
18. Deliver the keys on possession day.

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CONTACT US:

Tom Ikonomou 
RE/MAX City Realty
102-2806 Kingsway
Vancouver, BC V5R 5T5
Ph: 778.879.8366
Fax: 604.439.2299
Email: info@tomikonomou.com
TOM IKONOMOU

Vancouver Real Estate REALTOR®
Portfolio
Executive Club 2016-2022
Top 100 RE/MAX Western Canada
100% Club Award
MLS Medallion Club Member
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"Trademarks REALTOR® & MLS® owned or controlled by the Canadian Real Estate Association. Used under license."
All material herein is intended for informational purposes only and has been compiled from sources deemed reliable. Though information is believed to be correct, offering is subject to errors, omissions, prior sale and withdrawal without notice. This is not intended to solicit property already listed. Equal Housing Opportunity.