Preparing to Buy

Before you start shopping for your property, it is a good idea to make some preparations.

Build Your Green File.

A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:

• Financial statements
• Bank accounts
• Investments
• Credit cards
• Auto loans
• Recent pay stubs
• Tax returns for two years (Notice of Assessment)
• Copies of leases for investment properties
• RRSP and TFSA statements, life insurance, stocks, bonds, and any other account information.

Check Your Credit Rating.

Your credit score will have a huge impact on what type of property you can buy, and at what price. You may wish to check your credit rating with an experienced lending institution so that we can determine what you can afford. The lender will research your credit ratings and often offer feedback or recommendations for improving your purchasing position. We will be happy to recommend experienced, knowledgeable lenders in the residential, commercial and investment real estate fields.

Be Careful With Your Finances.

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.