If you are buying a property with the assistance of a realtor, they should provide you with various documents to help you make an informed decision about the purchase. Here are some of the key documents your realtor should show you:
Consumer Relationships Guide: This document is a regulatory requirement which explains the different relationships you can have with a real estate professional/brokerage. It also discusses the responsibilities you and your realtor have if they act or not act for you and the conflicts of interest that can happen and how they need to be handled.
A Buyer's Representation Agreement: It is a contract between a realtor and the buyer detailing the relationship, services to be provided and how your realtor expects to be paid.
Property Disclosure Statement (PDS): If the seller is awn material latent defects, they are required to complete a PDS, which is a document that outlines any knon issues with the property. If disclosed, your realtor should provide you with a copy of the PDS to review before making an offer on the property.
Real Property Report (RPR): An RPR is a document that shows the physical boundaries of the property and any structures on it. It also identifies any encroachments or potential issues with the property. Your realtor should obtain an up-to-date RPR from the seller, and provide you with a copy to review. Sometimes the seller does not have the updated copy, this becomes a negotiation or decision to buy or not.
Title search: Your realtor should obtain a copy of the property's title to verify that the seller has the legal right to sell the property, and to identify any liens or other encumbrances on the property. If their are registrations on the title, ensure these have also been pulled.
Purchase contract: Your realtor should provide you with a copy of the purchase contract, which outlines the terms of the sale, including the purchase price, closing date, and conditions of the sale.
Home inspection report: Your realtor should recommend that you obtain a professional home inspection of the property, and provide you with a copy of the inspection report once it is completed.
Condominium documents: If you are buying a condo, your realtor should provide you with the condo corporation's bylaws, financial statements, and other relevant documents.
Your realtor should also be available to answer any questions you have about the documents and the home buying process in general. It is important to review these documents carefully and to seek legal and financial advice if needed, to ensure that you are making an informed decision about your purchase.