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GETTING PRE-APPROVED FOR A MORTGAGE

The decision to purchase a new home can be an extremely exciting time; however, without proper education and a proper team in place it can quickly turn into a huge headache. The first thing to do once you have made the decision to purchase a home is to become pre-approved for a mortgage loan. This can be done through your local bank or a mortgage broker. 

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COMMON QUESTIONS ABOUT REAL ESTATE

Real estate is always a hot topic regardless of current market conditions. People are always curious as to what their property is worth, which is understandable as the real estate market is ever-changing. What Realtors take for granted as common knowledge isn't exactly common knowledge to the general public.


Here are some common questions we answer regularly:


What is MLS?

MLS is the Multiple Listings System, also known as the Multiple Listing Service. MLS is a tool available on the internet for public use. Anyone can access information about current properties in any market across Canada. MLS is an excellent resource of information; exterior and interior pictures of each property, total square footage, number of bedrooms and bathrooms, land size as well as a general description about the property.


Can you show me a house even though it's not your listing?

Every licensed Realtor in Saskatchewan has the ability to show any active MLS listing within Saskatchewan, unless the property in question is an Exclusive MLS listing which means only the listing agent has the authority to show that particular property. Please keep in mind that proper viewing arrangements must be made in advance with the listing agent with the approval of the seller.


How are Realtors paid?

Realtors do not make an hourly wage or salary - we are self-employed. Realtors are paid at the end of a successful real estate transaction. If a Realtor doesn't sell a house for six months, then that Realtor has not made money nor been paid. Please keep in mind that each Realtor is personally responsible for his or her own business expenses such as office rent, administrative costs, advertising, brokerage fees and other related expenses. The real estate industry typically has a high turnover rate of Realtors. Being self-employed takes a lot of discipline, a solid business plan and perseverance to be successful.


What's the difference between a "withdrawn" listing contract and a "cancelled" listing contract?

Life happens and sometimes due to circumstances, listings are withdrawn or cancelled. To withdraw a listing contract simply means that the listed property is on hold or not available for showings, however the property is still bound to its original listing contract. If you have signed a one-year listing contract and three months into the contract you have to withdraw the listings, the listing agent is still legally entitled to the agreed financial compensation if the property is successfully sold before the listing contract's expiry date. Your Realtor or the Realtor Brokerage will provide you with the proper paperwork to withdraw the listing contract.


If a listing contract is cancelled then the listing contract ceases to exist. Please keep in mind that cancelling the contract does have one catch, if you choose to break the contract because your listing agent brought you a competent buyer and you are attempting to avoid paying the commission fees, the Realtor is in a position for legal recourse if the real estate transaction is successful with that buyer within three months of the cancelled contract. Your Realtor or the Realtor Brokerage will provide you with the proper paperwork to cancel the listing contract.


What is a Buyer's Brokerage Agreement?

A Buyer's Brokerage Agreement is a legally binding contract between a Realtor and his or her buying client. The contract is designed to give both the client and the Realtor piece of mind - the Realtor agrees to find suitable properties for the client to view, on both MLS and/or For Sale by Owner and the client agrees to work exclusively with the Realtor named in the contract. Finding the perfect home can happen quickly or it can take months. This depends on how specific the desired requirements are for their dream property. The desired end result for the Realtor is to work for and with the client in finding a suitable property for them in order to receive financial compensation for the time and expense invested into the buying process. The length of the contract can vary depending on what you and your Realtor are most comfortable with.


What is a deposit cheque?

When a Realtor is working with a client to buy a suitable property, a deposit cheque is attached to the Offer to Purchase. The deposit cheque safeguards not only the seller but also the buyer - the seller uses the deposit cheque as security that the buyer is serious about the property and the buyer uses the cheque to buy time in order to satisfy the conditions in the Offer to Purchase. If the buyer can not receive final mortgage approval or is not satisfied with the results of the written conditions, the deposit cheque is returned to the buyer. Deposit cheques are written to the buyer's Brokerage or to the buyer's real estate lawyer's law firm. The deposit cheque is cashed then held in a trust account when the Offer to Purchase is accepted by the seller. Please note that once conditions are satisfied and removed, if the buyer decides to walk away from the transaction, the deposit monies are surrendered to the seller.

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SASKATOON RESIDENTIAL ZONING CODES

Zoning and bylaws are important as they are used as guidelines to control the design of community landscapes. Though zoning and bylaws can seem somewhat restricting, it helps protect real estate investment by creating consistency and flow. Zoning bylaws are designed with purpose, permitted uses, discretionary uses and development standards which include parking regulations and landscaping requirements. Always refer to your local zoning map for specifics about a property and refer to your local zoning bylaws for definitions and descriptions for zoning uses.

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COMMERCIAL REAL ESTATE SASKATCHEWAN

Commercial real estate is designed to serve the needs of industrial, commercial and investment buyers and sellers. There are significant differences between commercial real estate and residential real estate. Residential real estate has a quicker turn around time in order to successfully close a transaction - typically five business days to satisfy written terms and conditions. Commercial real estate can sometimes take months to satisfy written terms and conditions in order to complete a successful transaction.

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COMMERCIAL ZONING CODES

M1 - Local Institutional Services District

This district is designed to facilitate a limited range of institutional and community activities which are compatible with low-density residential areas and suitable for a neighbourhood setting. The suggested uses are: one-unit dwellings, two-unit dwellings, semi-detached dwellings, secondary suites, offices and office buildings, funeral homes, art galleries and museums, places of worship, private schools, photography studios, a variety of care homes, ambulance stations, medical and dental clinics, veterinary clinics, public parks, playgrounds, sports fields and more. Please refer to zoning maps and bylaws for clarification as well as additional information about discretionary uses.

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[Monday Motivation] Sometimes We're Tested...

[Monday Motivation] Sometimes We're Tested...

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711 Whelan Way, Saskatoon SK

360 Matterport - Click Image Below

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[Monday Motivation] Sometimes It Takes Failure...

[Monday Motivation] Sometimes It Takes Failure...

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HOW TO REMOVE STINK FROM YOUR GARBAGE DISPOSAL

HOW TO REMOVE STINK FROM YOUR GARBAGE DISPOSAL

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[Monday Motivation] The Only Real Mistake...

[Monday Motivation] The Only Real Mistake...

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Bridge City, Brewhouse & Bailes

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[Monday Motivation] Hundreds Of People Who...

"For Every Reason It's Not Possible, There Are Hundreds Of People Who Have Faced The Same Circumstances and Succeeded." Jack Canfield

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[Monday Motivation] You Have POWER Over Your Mind...

[Monday Motivation] You Have POWER Over Your Mind...

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[Monday Motivation] Are You Adding The Value Needed To Accomplish Your Goals?

[Monday Motivation] Are You Adding The Value Needed To Accomplish Your Goals?

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Saskatchewan Real Estate Finishes 2020 on a High

 

Saskatchewan Real Estate Finishes 2020 on a High

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[Monday Motivation] It's Not About Perfect. It's About...

Hey Internet!

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October 2020 Market Stats - Saskatoon

Saskatoon Real Estate Market Stats - October 2020

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Go After it...

I hope you had an amazing weekend! 

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You Cannot Become What...

Hey Saskatoon!

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When Something Is Important...

Hey Internet!

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Make Your Life a Masterpiece...

I hope you had an amazing weekend!

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Happy Halloween 2020

?Wishing you and your family a Safe & Happy Halloween?!


I love seeing all the creative costumes, post a pic or comment below with your costume!!!???

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Monday Motivation - The Bridge Between Your Goals...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"Discipline Is The Bridge Between Goals And Accomplishment." Jim Rohn


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Monday Motivation - Your Rainbow...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"Keep Walking Through The Storm. Your Rainbow Is Waiting On The Other Side." Heather Stillufsen

I hope you have an amazing day and week!

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360 & Virtual Tour 745-150 Langlois Way "Little Tuscany" Stonebridge, Saskatoon

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HAPPY CANADA DAY 2020!!

From my family to yours - Have a Happy Canada Day 2020!

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Monday Motivation - Laying Bricks...

As always, I like to start the week off right with some words of Motivation...

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360 & VIRTUAL TOUR "PINE CREEK" 312-303 SLIMMON PLACE, SASKATOON SK

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Monday Motivation - Follow Your Heart...

Monday Motivation - Follow Your Heart...

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Monday Motivation - Do Not Wait To Strike...

Happy Monday!


I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"Do Not Wait To Strike Till The Iron Is Hot; But Make It Hot By Striking." William B. Sprague


I hope you have an amazing day and week!


Sincerely,


Your Realtor, 

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Monday Motivation - Only Walking On Sunny Days...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"If You Only Walk On Sunny Days You'll Never Reach Your Destination." Paulo Coelho


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Monday Motivation by Your Realtor James Bailes

Happy Monday! I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation....


"Some People Want It To Happen.... Some Wish It Would Happen.... Others Make It Happen!" Michael Jordan

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Monday Motivation on a Tuesday???

Monday Motivation on a Tuesday???

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Monday Motivation - I refuse to walk carefully through life only to arrive safely at death

Happy Monday! I hope you had an amazing weekend! As always I like to start the week off right with some words of inspiration.


This is a quote for Paulo Coelho that I like to re-reference every time I find myself wanting to take the "Safe" route in life...

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Monday Motivation - Time To RISE...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"The Greatest Glory In Living Lies Not In Never Falling, But In Rising Every Time We Fall." Nelson Mandela


I hope you have an amazing day and week!


Sincerely,


Your Realtor - James Bailes

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Monday Motivation - Today's Struggles...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"The Struggle You're In Today Is Developing The Strength You Need For Tomorrow." Robert Tew

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435 HENICK CRES, SASKATOON - 360 MATTERPORT TOUR

CLICKE IMAGE BELOW FOR 360 VIRTUAL TOUR

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Monday Motivation - The Person with BIG Dreams...

I hope you had an amazing weekend!


As always, I like to start the week off right with some words of Motivation...


"Never Give Up On What You Really Want To Do. The Person With Big Dreams Is More Powerful Than One With all The Facts." Albert Einstein


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254 Whalley Cres, Saskatoon MATTERPORT 360 Virtual Tour and Video

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A Pro-Active Approach To Preventing The Spread of COVID-19 Mixed With A Bit Of Humour.

If you are sick or showing symptoms of illness, stay home. If after 3 days your symptoms have not improved, seek medical attention prior to returning to work. 

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Mike Holmes On Radon

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302 Henick Lane, Saskatoon SK - Check out the 360 Virtual Tours below

302 Henick Lane, Saskatoon SK - Check out the 360 Virtual Tours below

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James Bailes Real Estate REMAX CTV AD Saskatoon, Saskatchewan

"Whether it's your first home, next home or investment James Bailes has you covered."

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360 Virtual tour - 301 D1 - 1121 McKercher Drive, Saskatoon, SK "Woodland Crossing"

CLICK THE LINK BELOW TO VIEW THE 360 VIRTUAL TOUR!!

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