i want to buy a home

Team vanRahan are your trusted local REALTORS®, voted 2021 Community Votes Best Real Estate Agents

Thinking about buying? Team vanRahan is there for you every step of the way

Thinking about buying a home in the Peterborough area? We can enhance your search process by helping you uncover what matters most to you. Whether it is school zones, your specific lifestyle, or investment value. Start by using our property search tool below to get started finding the home that checks all of the boxes right away. With extensive knowledge of the market in Peterborough, Havelock, and surrounding areas, we'll help you get the best possible deal when buying your home.

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Ben vanVeen: My First Home-Buying Journey

Even though I’m a seasoned REALTOR®, there was a time I wasn’t and I knew nothing about the home-buying process. It was as mysterious and daunting for me as it is for today’s first-time buyer, and I haven’t forgotten that.

This means that Team vanRahan takes great care in educating first-time buyers. We can provide a free First Time Buyer Workbook and can sit down with you in our one-on-one First Time Buyer Seminar.

*Not intended to solicit buyers already under contract

HOME BUYER'S GLOSSARY

AMORTIZATION PERIOD

The number of years it takes to repay the entire amount of the financing based on a set of fixed payments.

APPRASIAL

The process of determining the market value of a property.

CLOSED Mortgage

A mortgage that can not be prepaid or negotiated for a set period of time without penalties.

Closing date

The date on which the new owner takes possession of the property and the sale becomes final.

Collateral

An asset, such as term deposit, Canada Savings Bond, or automobile, that you offer as security for a loan.

Deposit

A sum of money deposited in trust by the purchaser on making an offer to purchase. When the offer is accepted by the vendor (Seller), the deposit is held in trust by the listing real estate broker, lawyer, or notary, until the closing date of sale, at which point it is given to the vendor.

Equity

The difference between the market value of the property and any outstanding mortgages registered against the property. This difference belongs to the owner of that property.

MORTGAGE

A mortgage is a loan that uses a piece of real estate as a security. Once the loan is paid-off, the lender provides a discharge for that mortgage.

Term

The period of time the financing agreement covers. The terms avaialbe can be short or long term and the interest rates will be fixed for whatever term one chooses.