Home Purchase Program Benefits
Dewar Realty Brokerage will buy your home directly and give you the closing time frame of your choice. After we take possession, we'll take care of all the necessary repairs and staging preparations. Then, we'll resell the home.
If you're also a buyer, that means you'll navigate the market with confidence and peace of mind, knowing that your home is sold. You can act immediately once the right property becomes available, without the worry you'll miss it should your home not sell.
Eliminate Uncertainty & Inconvenience
It's required for a property to close within 60 days of its purchase date. With the Home Purchase Program, you'll have the flexibility and assurance of selecting the closing date of your choice, provided it falls within this timeframe. Should something change on your end, you may adjust the date, as long as it remains in the 60-day mandatory window.
It takes a great deal of preparation and effort to get a home sold. You could easily save yourself hours/days/weeks of work by selling it straight to Dewar Realty.
Our Simple, Transparent, Two-Step Process
First, we'll book a free, no-obligation home evaluation visit. I'll come by to meet you and have a quick look around the property. This initial conversation will give us both a good idea of what your home could be worth, and if the Home Purchase Program is right for you.
Then, you'll obtain and cover the cost for a home inspection from a certified inspector, and an appraisal from an officially-licenced independent appraiser. We ask for a home inspection report to ensure no significant structural, mechanical, or safety issues exist with your home.
Once these two conditions are met, we'll simply subtract the 13% purchase fee to determine the offer price.
13% Purchase Fee Breakdown
6.78% (this includes HST) = Our Service Fee
This is what it costs us to run the program and make a profit. 2% + HST is reserved for paying an agent’s commission in the future when we list and resell the property.
4% = Financing Expenses
This amount allows us to purchase your home and pay for the cost to carry it until a new buyer is found. These charges cover lender fees, mortgage payments, taxes, utilities, and insurance.
2.22% = Legal Services & Obligations
This fee pays for mandatory legal and taxation requirements. On the closing day, just like any other buyer, we must pay a land transfer tax. We’ll also incur legal costs for both the purchase and sale.
We’ll reduce our fee by 6.22%! If we can obtain a firm purchase agreement from a buyer within this time frame, we’ll drop your purchase fee to an all-inclusive 6.78%. Please note: This considers that the sale is for the full value of your home’s appraisal and compatible with your preselected closing date.
Home Purchase Program Eligibility Criteria
- Qualify as a single-family home, townhome, or condo
- Homes where the seller has clear ownership of the property
- Are located within our service area (Waterloo Region)
- Are appraised between $150K and $700K
- Are on municipal water, sewer, electrical, and gas services
- Are owner-occupied or vacant at the time of closing (not leased or rented)
- Are not in or near a flood zone and have not been previously damaged by floods
- Are not in an age-restricted community
- Are not under GRCA control
- Don’t have any unpermitted additions or significant foundation issues
- Don’t have a solar lease (panels are owned or pre-paid)
Conditions and availability are subject to change, and some exceptions apply. Let’s schedule a fast, free, no-obligation chat to discuss your property!
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