Hi, my name is Raj Sidhu. Nice to meet you!
Your Real Estate Specialist
Utilizing his exceptional experience and knowledge of the residential and commercial real estate markets in the lower mainland and world wide client base.
My Mission
To provide unparalleled real estate services that work with your long term financial objectives for generations to come. I want to help my clients build generational wealth through real estate in Canada.
My Values
I value family above all else. It is my strong belief that strong societies and communities are built by families. I endeavour to provide one of the most fundamental services to ensuring that families thrive. Ensuring and securing living spaces and spaces for business for today’s families and tomorrows societies.
My Vision
My vision is to ensure that every client that seeks my help thrives by generating wealth through real estate.
My Resources
With my years of experience, building and construction knowledge, clientele, and unparalleled knowledge of the market and sought after properties I feel that I have all of the relevant insights to ensure my clients are always well taken care of.
Frequently Asked Questions
You can use this guide to familiarize yourself with rules, laws and other important information relating to your property.
Yes! In 2020, the National Association of Realtors (NAR) reported 12% of home buyers opted not to use a real estate agent on their home-buying journey. But as a buyer, you don’t pay realtor fees. The seller pays your agent’s fee out of what they make on the home and often factor the cost into their selling price from the beginning.
If you want to reduce these fees, though, you can work with a real estate company to find top agents in your area that charge a low commission. Plus, some brokerages offer home buyer rebates or cash back on your purchase.
When might it make sense not to consult a real estate agent? Maybe you’re pretty knowledgeable about your local market or you’re buying a familiar property from someone you know and trust.
Whatever the reason may be, working with a buyer’s agent isn’t a requirement but it is recommended.
Top real estate agents often have in-depth knowledge of local markets and can save you time and money. An agent is typically an experienced negotiator, too, so they’re prepared to help you navigate your transaction with a seller. Agents also have access to the multiple listing service (MLS) database and may know about local “pocket listings,” or homes that are for sale but haven’t hit the market yet.
A buyer’s agent commission is included in the sale price of the home you’re purchasing, so they’re paid from the seller’s proceeds when you close on the property.
The average total commission is around 5–8% of the sale price. This percentage is split evenly between the buyer’s agent and the listing agent.
Each agent then splits their commission with their brokers. Meaning your agent goes home with a percentage of proceeds of the sale price while their broker can also be intitled to the same percentage depending on your agents contract with their brokerage.
For example, if a home sells for $1,275,000, the total commission would be approximately 3.5%, and your agent would receive approximately 1.2%.
Getting pre-approved for a mortgage is generally a good idea. Pre-approval involves a firm promise on the part of the lender to issue you a mortgage, following an exhaustive investigation into your finances.
Pre-approval thus shows sellers that you are a serious, qualified buyer and gives them confidence you won’t run into problems getting financing during the home purchase process. This can give you an edge in a competitive housing market.
Many home buyers confuse pre-approval with pre-qualification. Pre-qualification is simply a lender’s recommendation of the types of loans you might qualify for, based on self-reported financial information.
Pre-approval is taken much more seriously by sellers, because a qualified lending professional verifies all of your information. To determine how much you’re pre-approved for, the lender will consider your credit score, credit history, debt-to-income ratio, employment history, and assets and liabilities.
On your end, you’ll fill out an application and provide the required documentation. This will generally include proof of income, proof of employment, a detailed list of your debts, and recent bank statements.
Pre-approval can take seven to ten days, or longer if your initial application isn’t complete. By contrast, pre-qualification can be completed in as little as an hour.
Your down payment — the money you pay upfront to your mortgage lender — gets calculated as a percentage of the total value of the home you’re purchasing.
With most lenders, you’ll need a down payment of at least 5% of the home’s value. But your minimum down payment will vary based on numerous factors, such as your income, credit score, and the loan type. It is suggested that you speak with a qualified mortgage professional when trying to understand your lending needs.
Making a traditional down payment of 20% can be ideal, as it exempts you from paying mortgage insurance and may decrease the interest rate of your loan, but it’s not often required depending on your circumstances. It is recommended to speak with a qualified mortgage specialist before getting into a purchase and sale agreement to understand the nuisances of your mortgage.
There also a multitude of programs available to you as a first time homebuyer which can allow you to enter the market with additional supports. Please contact you local mortgage broker to understand what these programs are to help expediate your path to becoming a home owner in BC.
The best time of the year to sell your home is during the spring and summer months.
Late fall and winter are usually the slowest months for selling a home.
Studies have also shown that listing your home on a Thursday can lead to faster sales, as it gives agents time to schedule showings before the weekend.
And, of course, local market conditions are a big factor in how quickly you sell your home.
In a seller’s market, demand for homes exceeds the number of homes available to sell. These conditions lead to higher home prices and greater leverage for the seller. Buyers may be willing to pay more than the list price, and bidding wars over a home may even break out.
In a seller’s market, homes may sell quickly in the winter months as well.
The best way to sell your home quickly is to hire a real estate agent, present the home well, and list it for an appropriate price.
Closing numbers vary greatly depending on location, market conditions, and the time of year. The buyer’s financing situation can also affect how quickly you close.
Here are some tips on how to sell your home quickly:
- Stage your home. Move some furniture into storage to make the home appear roomier. Remove personal items such as family portraits so potential buyers can imagine themselves in the home.
- Hire a real estate agent.A real estate agent’s experience and local knowledge can influence the speed of a sale. If you’re worried about the cost of an agent, luckily, there are ways to save on commissions, too.
- Price your home appropriately. Price is one of the most important factors for buyers when searching for a home. A real estate agent can help you navigate the market conditions and determine the right price to sell quickly.
- Showcase what makes your home unique. What does your home have that other homes don’t? Built-in bookshelves? A picturesque view? A sunlit family room? Hire a professional photographer to photograph your house. Consider having a 3D tour of your home made.
- Make necessary repairs.Fix any problems that will be red flags for buyers before listing the home. A real estate agent can help you identify major issues and what you might let slide.
Market conditions determine your home’s market value, while the appraised or assessed value is calculated by a professional and used for mortgage or tax purposes.
Your home’s value on the market is largely determined by what people are willing to pay for it. This number varies based on the number of homes available and other economic factors.
For example, in the midst of a seller’s market, when demand for homes is high and supply is low, your home’s market value may rise.
Appraisals are used to determine the value of the property for mortgage insurance purposes, based on the condition and location of a property. Licensed appraisers look at the structural integrity of the home, recent renovations, and comparable home sales to determine this value.
And just because a home is priced high due to market conditions, it doesn’t necessarily mean a lender will provide a loan for that amount if the appraised value is much lower.
Tax assessors work for local governments and value real estate for property tax purposes. They usually assess the value of homes not individually, but neighborhood by neighborhood. Homeowners generally don’t want their property to be assessed for too much because it means they’ll pay higher property taxes.
The seller pays for the agents’ commission based on the final selling price of the home.
Typically, the selling agent and the buying agent split the commission (usually 6% of the sale price of the home), with half going to each.
The buying agent and the selling agent each split half of their take with their brokerage. Part of everyone’s cut is used to cover the costs of business, like advertising, MLS fees, insurance, and licensing.
Most agents don’t get paid a salary and work on commission; they only get paid when the home sells. This model incentivizes the selling agent to sell the home for the highest price possible, which also benefits you, the seller.
Sellers and agents negotiate the commission up front and write it into a contract at the beginning of the selling process. While the 6% commission is standard, it’s not set in stone.
Some agents negotiate their commission if they can make up the difference in other ways, such as taking advantage of a market with higher home values. Agents may also choose to discount their commission in exchange for dropping some of their usual services, like marketing campaigns