What NOT to Do Before House Loan Qualification

Are you gearing up to qualify for a home purchase? It's an exciting journey but beware of certain pitfalls that can derail your dream. Here, we uncover the top 10 mistakes you should avoid to ensure a smooth path to homeownership. Perfect for those in the market for a new home, these tips are a must-read:

  1. Changing Jobs: Stability is key. Lenders favour a steady employment history. Avoid switching jobs, quitting, or starting self-employment until your purchase is complete.

  2. Shuffling Finances: Keep your finances steady. Moving money between accounts can complicate the lender’s verification process.

  3. Purchasing a Vehicle: A new car loan can impact your mortgage borrowing capacity. Postpone any vehicle purchases until after closing.

  4. Overusing Credit Cards: High credit card usage can lower your credit score. Keep your credit utilization in check and keep up to date with payments.

  5. Spending Closing Funds: Guard your closing cost savings. Using this money prematurely can risk your mortgage approval.

  6. Hiding Debts: Transparency is crucial. Disclose all debts and liabilities upfront to avoid surprises during the loan process.

  7. Big Purchases: Delay buying appliances or furniture. Such expenses can alert lenders and potentially disrupt your mortgage process.

  8. Excessive Credit Checks: Too many hard inquiries on your credit report can decrease your score. Limit credit applications before closing.

  9. Unexplained Deposits: Consult your mortgage broker before making large deposits. These need proper documentation and verification.

  10. Co-Signing Loans: Co-signing increases your financial obligations and can impact your loan eligibility.

Navigating the home-buying process can be complex and it is important to set yourself up for success. Avoiding these common mistakes can make your journey to homeownership smoother and more successful. For more insights and personalized advice, feel free to reach out to our team. Happy house hunting!


Benefits of Using a Cowichan Valley Realtor to Sell your Home

Selling your home is a complex process that can be stressful and time-consuming. An experienced Cowichan Valley realtor has the knowledge, skills, and connections to help you through the process every step of the way. Consider the following benefits of working with a local realtor.

Professional Experience

With knowledge and training in marketing strategy, negotiation tactics, and the workings of the current real estate market, a realtor will be able to guide you through the steps of the home-selling process and be able to explain exactly what to expect. S/he will make you aware of your rights and responsibilities, work with you to strategize the best moves according to your own goals, discuss financing options, and point you in the direction of other specialized professionals who will aid you in different stages of the process.

Best Price

Realtors have their fingers on the pulse of the current real estate market, and will know what comparable properties in your area are selling for. They have the resources and knowledge to establish the best asking price and to attract the highest selling price. With access to their company’s professional marketing resources and connections, they will ensure potential buyers are immediately made aware of your home and market the property to sell as quickly as possible and for the most money.

“Showcasing” Experience

Your realtor will know the importance of a property’s first impression. S/he will have experienced first-hand, for example, the impact a property’s “drive-up appeal” has on the rest of a potential Buyer’s experience of your home. Your Realtor will be able to offer you tips and information on how to get your home in the best selling shape possible, in order to sell your property quickly and for top dollar.

Access to Qualified Buyers

Realtors save time and effort by dealing only with qualified buyers. They have access to a pool of pre-screened and pre-qualified buyers who are serious about buying a home in your neighbourhood. Realtors work hard to develop this base of qualified buyers which will become an invaluable resource for you.

Negotiation Skills

Realtors serve many functions, but perhaps the most important is their role as primary negotiator on your behalf. Your realtor realizes your goal is to sell your home as quickly as possible, and for the most money possible, and will work closely with you during the negotiation process to facilitate this goal. Realtors bring to the process the knowledge and skills to draw up legally binding contracts, to assist in negotiating offers and counter-offers, and to offer counsel and perspective as you work toward your selling goals.


How does a Great REALTOR® Provide Value?

Agreat REALTOR® is focused on maximizing interest in your home from the moment it’s listed. They generate excitement and anticipation for your listing to increase interest from potential buyers and ultimately, the best possible offer with the most favourable conditions.

What does a Great REALTOR® do for You?

They provide guidance before listing in regards to preparing your home for sale. They’ll offer suggestions on maintenance that should be done, upgrades that would be a worthwhile investment, and staging your home. They diligently organize the property file with concise and accurate information for potential buyers.

This can include visiting the municipality to review the building file, contacting VIHA for septic data, investigating well data, confirming property lines, investigating zoning and obtaining receipts and permits for recent work on the home.


They present the home professionally in listings, advertisements and on-site during open houses by way of professional photographs, videography, and documentation.

They build relationships with prospective clients, reaching out when there’s a listing that would suit their needs. They network with other Cowichan Valley real estate agents and across Vancouver Island to promote your existing listing as well as finding the next place you’ll call home. They understand the best time to list your home to maximize exposure and interest right from day one.

They're actively engaged in marketing your home via multiple channels including MLS, lawn signage, and social media marketing campaigns. They provide constant feedback and communication throughout the process of selling your home. They're completely confident in their ability to negotiate the best price for your home.

As an experienced Cowichan Valley and Duncan realtor, these are all things that I do for my clients. Let me know if you have questions.


Excitement and Urgency and WHY Does it Matter?

Simply put, the amount of excitement surrounding a new listing determines the amount of call-ins and showings. The urgency surrounding a new listing determines how quickly, how many, and how strong the offers might be.

As a Duncan REALTOR® covering Cowichan Valley real estate, it's important to know these things in order to provide the best service to the seller.

Excitement is generated by correct pricing (and that doesn’t mean pricing low), excellent curb appeal, complete visual package with PROFESSIONAL photographs, PROFESSIONAL floorplans, video and aerial photography if it enhances the property, an accurate write up, and complete information packages for buyers and for agents.

Complete Information Matters

Complete information packages include receipts for work on the home, data from the municipality about the home, data from VIHA on the septic field, any well information including portability reports, any insurability issues like wood stoves, zoning information, zoning maps so on and so forth.

This information will help agents write STRONG offers and buyers to move forward with purchasing your home with confidence.

The day when write-ups or photos following a day or two after a home is listed is long gone and simply not acceptable.

Prepare for Multiple Offers

All listings should be featured on a modern website, on social media, and broadcast to other agents operating in the market. Whether it's for the Ladysmith real estate, the Cowichan Valley real estate, or the Shawnigan Lake real estate market, it's important as a Duncan REALTOR® to cover these areas well.

Excitement leads to urgency. A buyer feels the need to move quickly on a home which has been properly prepared, presented and marketed – they are more likely to feel comfortable offering more favourable terms and conditions to the seller.

In this market, it will often lead to multiple offers which is very beneficial for the seller.

I feel strongly a seller can benefit even more in this hot seller’s market through proper preparation, presentation and marketing as there is even greater urgency. It’s easier to sell a house right now, that is for sure, by all sellers should be trying to MAXIMIZE every bit of value.

If you have further questions on this topic, please contact our team today.

MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification.