1983 - 2008
Celebrating 25 Consecutive Years As #1
We list and sell family homes, waterfront and waterview homes and cottages, rural properties and hobby farms, commercial and agricultural properties and businesses.
Our logo symbolizes an accumulated total of 49 yrs of real estate experience in this area.
We are full-time realtors and as such are dedicated to serving your real estate needs.
We offer both exclusive and MLS listing services. We maintain a 70% sales success rate.
We are #1 in this area because we sell a higher dollar volume of property than anyone else. We welcome out-of-province and international inquiries.
We thank all the people who have supported Coulson Realty over the last 25 years and look forward to serving your future needs.
General Steps in the Buying Process
Decide the area in which you wish to live. We specialize in the Kensington/North Shore area, truly a fine locale. Close to the famous Cavendish National Park and beaches, schools and shopping, it is a rural parkland, characterized by rolling, green meadows - however we can help you find a property anywhere on PEI.
Determine what you can afford.
Apply for a pre-approved Mortgage Certificate. This will guarantee you a specific amount of money at a particular interest rate. By having a pre-approved mortgage you will shop for homes in your price range and you will enjoy the advantage when negotiating of vendors confidence that you can afford to purchase their home.
Now you can begin looking for that perfect place. You can start by looking through our listings - you can also check MLS listings. If you want to browse through properties to get an idea of what's available, have a look through the MLS website. We can help you with your search, just call us at (902)836-3845 or email us.
Now let us arrange for you to view homes that are of interest to you. Also attend OPen Houses in the area. We will be happy to assist you to compare homes to see what would be the most suitable and the best value.
Once you find a home that suits you, you will have to make an offer. Your offer, once accepted by the vendor is a legally binding contract, but you may safeguard yourself with "subjects", eg offer subject to sale of purchasers home. These subjects protect you against unforseen circumstances. We will prepare your offer to purchase.
The vendor may accept your offer, as is, reject your offer totally, or counter offer.
After your offer is accepted you will need to arrange a home inspection. You will also need to arrange for homeowners insurance and finalize the mortgage, which will include an appraisal for your lender performed by a certified real estate appraiser.
You will require a lawyer to arrange the conveyancing. The lawyer will work out your share of property taxes, utility bills, including such items as oil left in the tank, etc. On closing day, you will meet at your lawyers office to go over and sign all the necessary paperwork.
The Home is Yours!
The Costs of Purchasing a Home
Basic purchase price
Legal fees
Disbursements (Out-of pocket expenses a lawyer incurs)
Closing Adjustments
taxes
rental income
condominium maintenance
utility charges
New mortgage
application fees
appraisal fees
Avoid Surprises! As Professional Realtors we can guide you through the buying process
Use our knowledge of the area to assure that your property is marketed at a price that best reflects its value. We know the history of the homes in our area, including the previous owners, what improvements have been made, and what the property has sold for when previously marketed, because chances are we handled the previous transactions. Your home isn't simply a statistic we look up when necessary, but a home we have followed for the last 25 years.
During the listing we are always available to discuss the marketing of your home. We are full time realtors. This is all we do. We are always only a call away to answer your concerns
We can make recommendations to enhance the marketability of your property.
We will market your property with signs, media advertising and internet advertising as well as through our sizable network of personal contacts.
We will show your property to pre-qualified buyers as well as holding periodic Open Houses.
We will submit to you all written offers, assist with negotiations, and provide an estimate of your net sales proceeds, so you understand all implications prior to any acceptance.
Tips for Sellers
Small, inexpensive touches can greatly add to the attractiveness and curbside appeal of your home. These include:
Keeping grass cut, flower beds weeded and brightly planted in summer - Driveway and paths cleared of snow in winter.
Remove any outside debris
Sweep decks and walkways
Clean basement, garage and/or attic
Do minor repairs ie leaky faucets, small holes in walls etc
Make certain appliances and extras eg burglar alarm, are in working order
Make sure that house is well aired and that there are no smells. Some do think that the smell of baking, particularly bread makes people feel more disposed to think of the house as a home
Have carpets cleaned professionally
Tidy any clutter in the home
Since different areas of renovation have a greater or lesser impact on the saleablility of your home and a greater or lesser pay-back in terms of increased value versus cost, consult with your realtor before renovating prior to selling
What can I Afford?
You will qualify for a mortgage based on the size of payment that you can handle comfortably considering your current financial situation. You are allowed to borrow an amount such that the monthly payment not exceed 32% of your gross income. Further all debt service including mortgage, car payments, credit card payments, alimony/child support etc must not exceed 40% of your gross income.
Calculating an Affordable Mortgage
Your monthly payment may be the lesser of these two calculations:
Income x 0.32
(Income x 0.4) - Monthly Payments
Income includes all regular income from employment or self-employed income supported by documentation (balance sheets) for both you and your spouse, as well as investment income, including rents from other properties and from this property, providing that the rental accomodation is legal. This is gross income - before taxes.
Monthly Payments include all charge cards, Visa, Mastercard, Amex etc and also department stores, oil company cards etc. Also included car payments and any other regular payment such as child support or alimony.
The First Step
Get a pre-approved mortgage certificate
A pre-approved mortgage certificate guarantees a specific mortgage (amount and interest rate) for a time period of 30-120 days, subject to property appraisal
A pre-approved mortgage helps you focus your house-hunting on properties that you know you can afford. A pre-approved mortgage may also give you an advantage when negotiating with vendors as they know you are serious. Your offer therefor may be more readily accepted, since it doesnt depend on securing financing later.
Applying for a Mortgage
The following steps will be undertaken to assure that you qualify for a Mortgage.
Your Lender will require:
A copy of the real estate listing.
A copy of the accepted Offer to Purchase.
Information on the source of your down payment.
Income verification if you are employed.
A letter from your employer verifying your place of employment and income, or T4s and Notice of Assessment, or T1 General Tax Return and Notice of Assessment.
Income verification if you are self-employed.
3 years of Financial Statements and 3 years of Notice of Assessments, or 3 years of T1 General Tax Returns and 3 years of Notice of Assessments.
Your Lender will order a property appraisal and credit report.
If your down payment is less than 25%, yours will be a high ratio mortgage on which you will pay insurance premiums. You may pay the premium in cash or have it added to your mortgage. Your lender will apply to Canada Mortgage and Housing Corporation (CMHC) or GE Capital Mortgage Insurance Company of Canada (GEMI).
You will be required to pay for the mortgage application, credit report and property appraisal.
View Our Listings
Residential |
Land and Lots |
Waterfront |
Cottages |
Commercial |
