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How to be ready when the perfect home presents itself

by Marshall Homes , Nov 14 2017

If you’ve been to the launch of a new housing community, you’ll know emotions can run high from excitement to frustration.

As demand for new homes continues at historic levels, grand openings can see huge lineups and as you’ve likely seen in news stories, free-for-alls.

Out of respect for you and your time, we plan our launches to try to encourage the excitement and limit the frustration.

Here are a few pro tips so you can arrive prepared and avoid disappointment:

Are you “registered”? That means you’re on our email list. The people on our list will be the first to know about important things like launch dates, presentation centre location, and links to secure a coveted time slot in advance (if applicable). Those details go out via email so be sure you’re on the list.

Mortgage pre-approval letter. You’ll need to bring your mortgage pre-approval letter with you to the opening. Getting pre-approved for a mortgage is win-win. You want to know exactly how much you can borrow so you know what you can afford and to ensure you don’t overspend. And as your home builder, we want to know that you will qualify for a mortgage when your new home is ready. If this is your first mortgage, you may find our Mortgage 101 article handy. Be sure to book your appointment with your bank in advance of opening day.

Certified cheque or bank draft. Please bring a certified cheque or bank draft in the amount of $10,000. This is the initial deposit on your new home. The fees for drafts and certified cheques can vary so you may want to ask which has the lower fee.

Personal cheques. Be sure to bring your chequebook (with at least 3 cheques). These post-dated cheques will make up the balance of your down payment according to the following schedule:

$10,000 certified cheque or bank draft upon signing the agreement (as outlined above).
Balance of 5% in 30 days
2.5 % in 60 days
2.5% in 120 days
5% on occupancy

All cheques should be payable to Harris, Sheaffer LLP (in trust)

Photo ID. And last but not least, you’ll need to bring government-issued photo ID. Things like your passport, driver’s license or health card are all acceptable.

And that, in a nutshell, is how to arrive prepared. You’ll be ready to seize the day and capitalize on the excitement of a new home.

Here’s a handy checklist you can print out to make sure you have everything you need.

This article is about:

First time buyers

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