3. Your allies

Early on in your property search, it will become obvious that you can't see to everything yourself or just with the help of your loved ones.

Get the support of a team of professionals.

Your Desjardins Financial Advisor

The pillar of your team! In addition to helping you choose the mortgage that best suits your borrowing profile, this partner also will also act in your best interest throughout the property acquisition process.

Building inspector

Before buying your home, make sure it passes the final test: the inspection. An engineer, building technician, architect or chartered appraiser can do the job and provide you a written inspection report. The inspector will check the state of the foundations, roof, structural elements, windows, insulation and plumbing, as well as the electrical, heating and ventilation systems, etc. With a professional inspection, you'll get:

• an expert opinion confirming that the asking price is reasonable with regards to the quality and value of the property;
• an evaluation of the cost of any repairs needed;
• detection of hidden defects, if any.

Surveyor

A surveyor will prepare the certificate of location, a document required by most mortgage lenders. The certificate contains the following information:

• a description of the lot and building;
• any illegality or irregularity (e.g., fence encroaching on a neighbour's property);
• servitudes and easements (e.g., right of way);
• specific bylaws or regulations that may restrict a property owner's rights.

Notary¹

The role of the notary is to ensure that the transaction is carried out in accordance with all the proper rules. To this end, the notary draws up the mortgage deed and deed of conveyance.

The mortgage deed is an official document that specifies the mortgage conditions, along with the rights and obligations of the borrower and the financial institution. Drafted from the offer to purchase, the deed of conveyance is an official document by which the seller transfers the property title to the buyer.

The notary also performs a title search, examines documents published by the Registry Office and examines documents supplied by the seller such as tax receipts, certificate of location, marriage contracts or divorce papers. The goal of these procedures is to ensure that no real rights to the property belong to anyone other than the seller, or that nothing exists that might compromise the seller's title to the property (i.e. previous mortgages, servitudes, pending probate settlements).

The notary then has the mortgage deed signed by the buyer and the mortgage lender (financial institution) and publishes it at the Registry Office. Finally, he convenes the seller and buyer (and spouses if necessary) to have the deed of conveyance signed.

¹ A lawyer for residents of Ontario.

Real estate agent

Real estate agents are housing specialists. Their role is to help you find the home that's right for you. To help your agent do this, explain to him your budget, lifestyle and type of area that you are looking for. Armed with this information, he will put his knowledge of the market to work to help you find the home that meets your needs in the shortest time possible. The real estate agent will arrange appointments and accompany you on visits, to reassure you and help you save time. Finally, the agent will advise you during negotiations and help you with your offer to purchase.

Contractor

When buying or building a new home, always ask for the contractor's references to be certain of his credibility and competence. Find out also if he offers new home guarantees, or visit homes built by the contractor you've selected. If you're having a home built, an architect can also be of great help.

Here is a list of contacts who can help you each step of the way.