Buying Property on Manitoulin
If you are considering a property purchase on Manitoulin Island, I hope you will find this section informative.
In particular I have provided information that will hopefully help you answer the following questions:
- Why I should use a REALTOR®?
- Why I should use a Local REALTOR®?
- Why I should consider utilizing the services of Scott McDougall, sales representative for J.James Bousquet Realty Inc., Brokerage?
If you are just getting to know Manitoulin Island or if you haven’t decided for sure if it will be your chosen designation, then take advantage of the information About Manitoulin that is available on this site.
If a decision has already been made to use local REALTORS®, then at some point it is likely in your best interest to select one local REALTOR® to work with. I believe it is better for you and it definitely better for us.
It is a small community of REALTORS® on Manitoulin Island and we don’t want to create unnecessary friction by appearing to work with each other’s potential clients. Until one is selected be open and inform us that you are also working with others.
However we can better justify getting ourselves fully immersed into your search effort once a commitment has been made to work exclusively with our brokerage. For further information, ask me to send you my overview of Customer versus Client Service.
The Canadian Real Estate Association has prepared a Homebuyer's Road Map. This a great resource for buyers starting this journey, especially for the first time.
Should I use a REALTOR®?
Some benefits of using a REALTOR® are;
Increasing Area/Technical Knowledge
- Ablility to provide area knowledge.
- If you are new to private septic and water systems we can provide some insight and/or direct you to resources for further learning.
- Identification of insurability considerations. A property may have been insured for some time in its current state, but due to changes in criteria no insurance company would write a new policy today. Know when to recognize these and what is typically expected of a seller in this market.
- Through on-going education and experience we are able to identify potential problems or obstacles to achieving your objectives.
- When beneficial, conduct research on your behalf with the Manitoulin Planning Board or at the Registry Office. (They are both located in Gore Bay, which is very beneficial to me since that is where my office is.)
By using the following information provided by you we can help determine prospective properties.
- Locations of interest
- Mandatory property features
- Preferred property features
- Preview properties on your behalf.
- Arrange all showing tours and visits.
- Provide insight in to reasonable selling prices. Can also provide comparable sales for review.
- Explain all the potential purchase costs.
- Even when your search efforts are distracted by other priorities in your life, we continue to work on this exercise on your behalf.
Offer to Purchase
- Ensuring that a buyer’s interests are protected and eliminate liability potential.
- Limit emotions that can sometimes negatively impact the outcome of a negotiation.
- Ensuring offer deadlines and timeline is reasonable.
- Inform buyer when a seller’s demand is unreasonable or not typical for a particular market.
- Ensure deadlines are met and dealt with in a timely manner.
- Communicate and coordinate with the parties involved with the fulfilment of the conditions of the agreement (buyers, sellers, lenders, inspectors, municipalities, etc..)
Once an offer to purchase has become firm and binding, the role of a buyer’s agent does not end.
- Ensuring that outstanding tasks are met and that all parties involved, (buyers, sellers, lenders, lawyers, etc.) are provided the information they need in a timely manner.
- Coordination of a pre-closing site visit. This is a good opportunity to not only take final measurements etc., but you can confirm in person if any tasks required by the seller have been completed to your satisfaction.
- When beneficial, assistance of buyers with getting access to keys once it has been confirmed by the seller’s lawyer that the deal is closed.
More information about the benefit of using a REALTOR® can be found on the following link:
Should I use a Local REALTOR?
A local REALTOR® is your invaluable resource who lives, works, and plays in the area – therefore knows the Manitoulin.
- Buyers want to be sure that their agent is able to answer questions about land claims, location of current and proposed wind farms, availability of municipal services, etc..
- As with any area, the Manitoulin Island does have some areas with “idiosyncrasies” which a buyer should be aware of.
- Lake levels are a significant concern today. Understanding the local impact could be important to waterfront buyers.
- Many buyers of Manitoulin property reside a significant distance away. As a potential buyer you may only decide after arriving that you wish to view a property. As a local REALTOR® I can react quickly to a showing request.
- We can direct you to a range of local resources (contractors, other service providers, etc. ...) to help you make a more informed decision.
Should I consider Scott McDougall as your Buyer Agent?
- With my almost 20 years of experience in this industry, strong knowledge of Manitoulin Island, and strong work ethic (link to About Scott – Value Added Service section) creates a good foundation for a successful working relationship with Buyers.
- The demands of this profession are forever changing and I embrace any opportunity I have to increase my knowledge.
- I am registered with a well known local brokerage, J.James Bousquet Realty Inc., that has been serving the Manitoulin and area for over 40 years
- With over 1000 square miles, Manitoulin Island is a large area to service. Being centrally located in Gore Bay does provide an advantage.
To further assist my buyer clients I have prepared reference documents that I can provide to them to help them better understand various aspects of the buying process.
- Offer to Purchase Process – Described in a Flow Chart
- Offer to Purchase Timeline (typical offer with buyer conditions)
- Home Inspections
- Multiple Offer Guideline
- Calculation Worksheet – Net Proceeds from a Sale
- Available on our Broker Website are useful resource material for buyers and sellers.
- Once an offer has been accepted I record on a Deal Checklist form all tasks/deadlines that need to be accomplished in order for the deal to close on schedule. I review weekly at a minimum to ensure that pre-closing tasks are not overlooked and left to the last minute.
- I find that the Project Management skills that I developed in my previous career useful with the monitoring and management of deal files.
- Typically within a couple of weeks after a deal has closed I contact my buyer client to see if there were any concerns about the process or experience.
See also Testimonials from some satisfied clients.
Also provided are SOLDS of real estate deals that I had the pleasure of assisting clients with.