Buying or selling a home is one of the biggest financial decisions you will make, and it is normal to have a lot of questions. Below, Saskatoon Realtors Clayton McNally and Jessica Hamel of Trusted Realty, Powered by RE/MAX Saskatoon, answer the questions we hear most often from home buyers and sellers in Saskatoon, Martensville, Warman and the surrounding communities. Don't see your question? Send it to us using the form at the bottom of the page.

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Working With a Realtor

Why do I need a Realtor to buy a home?

Buying a home is a complicated, expensive transaction, and having a professional on your side protects you from costly mistakes. Realtors in Saskatchewan must be registered with the Saskatchewan Real Estate Commission, which regulates how real estate is traded in the province, and we follow the REALTOR® Code of Ethics of the Canadian Real Estate Association. That means your interests come first. We also complete ongoing continuing education so our advice stays current.

Practically speaking, we get you instant alerts when new MLS® listings match your search, book your showings, research what comparable homes have sold for, negotiate on your behalf, keep your information confidential and guide you through the paperwork and deadlines right up to possession day.

Can you show me homes listed by other real estate companies?

Yes. Through the MLS® System, we can show you virtually any home listed for sale in Saskatoon and area, no matter which brokerage or agent has it listed. We can also arrange to see For Sale By Owner homes. Working with one agent is easier for you: we can book everything you want to see and plan showings around your schedule.

Do I have to buy through the Realtor who listed the house?

No. The listing agent was hired by the seller to market their home and represents the seller's interests. As your buyer's agent, we represent you and your interests throughout the purchase.

What if I find a home on my own online?

Perfect, that happens all the time. Finding the home is only about half of our job. The other half is protecting you through the purchase: advising on price and conditions, writing and presenting your offer, handling the paperwork and keeping track of every deadline. Just send us the listing and we will set up a showing.

I liked a home at an open house. What should I do?

Let the agent hosting the open house know that you are already working with a Realtor, so you can look around without a sales pitch. If you like the home, call us. We will book a private second showing at a time that works for you and help you decide on an offer.

Can you help me buy a For Sale By Owner (FSBO) home?

Yes. Many private sellers are happy to work with a buyer's agent. We will contact the owner, arrange a viewing and discuss how our commission will be handled before any offer is written. Our job is to make sure you don't overpay and that your purchase includes the same protections you would get on an MLS® listing.

Can you find out why the sellers are moving or the lowest price they will take?

We dig up everything we properly can to strengthen your negotiating position, such as how long the home has been on the market, its listing and price history and what similar homes have sold for. The seller's agent is not allowed to share confidential information like the seller's motivation or bottom line without the seller's permission, so sometimes that information simply isn't available. This is a big reason to have your own agent representing you.

Do you help with rentals?

No. Our team focuses on helping people buy and sell homes. If you are thinking about buying an investment property, take a look at our income properties page for homes with suites and duplexes.

What areas do you serve?

We help buyers and sellers in every Saskatoon neighbourhood and the surrounding communities, including Martensville, Warman, Dalmeny, Osler, Clavet, Delisle and many more. Not sure which area fits you? Try our Saskatoon neighbourhood match quiz.

Commissions & Fees

Do I pay you for your services when I buy?

In most purchases, no. Our commission as the buyer's agent is normally paid out of the seller's proceeds when the sale closes, so buyers usually pay nothing out of pocket for our services. The exception can be a For Sale By Owner home where the seller won't pay a buyer's agent. In that case we would discuss it with you first, and the commission is often built into the price you offer. We will always explain how we are paid, in writing, before we start working together.

How do Realtors get paid?

Realtors are paid a commission based on the sale price of the home. The commission is agreed between the seller and the listing brokerage when the home is listed, and it is shared with the buyer's brokerage. It is paid from the sale proceeds only after the deal is firm and the sale has closed, which means we only get paid when our clients successfully buy or sell.

What does it cost to sell my home?

The main cost is the real estate commission, which we will discuss with you openly before you list. Sellers should also budget for legal fees, any mortgage discharge or prepayment penalty from their lender, property tax and utility adjustments, and moving costs. Ask your lender about any mortgage penalty early so there are no surprises.

Down Payment & Financing

How much do I need for a down payment?

In Canada, the minimum down payment is 5% of the first $500,000 of the purchase price plus 10% of any portion between $500,000 and $1.5 million. Homes priced at $1.5 million or more need at least 20% down. If your down payment is less than 20%, your mortgage must be insured through CMHC, Sagen or Canada Guaranty, and the insurance premium is usually added to your mortgage. With 20% or more down, you can get a conventional mortgage with no mortgage insurance. Your lender or mortgage broker can confirm exactly what you qualify for.

Can I use my RRSP or an FHSA for my down payment?

If you are a first-time home buyer, yes. The federal Home Buyers' Plan lets you withdraw up to $60,000 from your RRSPs tax-free toward your first home, which you then repay over time. The First Home Savings Account (FHSA) lets you save up to $8,000 a year, to a lifetime maximum of $40,000, with tax-deductible contributions and tax-free withdrawals for a qualifying first home. You can use both. Talk to your financial advisor or mortgage professional about the rules that apply to you.

Should I get pre-approved before I start house hunting?

Yes, we strongly recommend it. A mortgage pre-approval tells you how much you can borrow, locks in an interest rate for a period of time with many lenders, and shows sellers you are a serious buyer. It also keeps you from falling in love with a home outside your budget. We are happy to recommend local mortgage professionals.

How much are closing costs?

Saskatchewan has no provincial land transfer tax, so closing costs here are lower than in many provinces, but you still need to budget for them on top of your down payment. Typical closing costs include legal fees and disbursements, Land Titles registration fees for your title and mortgage, title insurance, property tax and utility adjustments with the seller, a home inspection and home insurance. Mortgage lenders generally want to see that you have about 1.5% of the purchase price set aside for closing costs. Ask your lawyer for a written estimate once you have an accepted offer.

Making an Offer

What are homes selling for, and what is a good offer?

Before you make an offer, we prepare a comparative market analysis showing what similar homes in the same area have recently sold for, how long they took to sell and how the current market is moving. Combined with our local market experience, that tells us what the home is likely worth and helps you choose a confident offer price and terms. You can also look up recent sold prices in your area.

What is the deposit for?

The deposit shows the seller that you are serious about your offer. It is held in trust, not given directly to the seller, and it is applied toward your purchase price when the sale closes. We will recommend a suitable deposit amount for the home you are buying.

Can I get out of the deal after I make an offer?

Your offer will normally include conditions that protect you, such as financing and a home inspection. If a condition can't be satisfied by its deadline, the deal can end and your deposit is typically returned. Once you are satisfied and we remove all conditions, the sale is firm. Only at that point is your deposit at risk, and backing out of a firm deal can have serious financial and legal consequences. That's why we make sure you have the time and information you need before conditions come off.

What conditions are common on an offer in Saskatchewan?

The most common conditions are approval of financing, a satisfactory home inspection, review of the seller's Property Condition Disclosure Statement, and confirmation of home insurance. Depending on the property, we may also add conditions for the sale of your current home, a review of condominium documents, or a water and septic check for acreages. We tailor conditions to each purchase.

What happens if there are multiple offers on a home?

When several buyers want the same home, the seller can choose any offer, and it isn't always the highest price. Terms like possession date, deposit size and the number of conditions matter too. We will explain how the process works, help you decide on your strongest offer, and make sure you are comfortable with any risk before you waive conditions.

Inspections, Lawyers & Closing

Why do I need a home inspection?

A home inspection gives you peace of mind. A qualified home inspector evaluates the home's major systems and components, such as the roof, foundation, plumbing, electrical and heating, and points out problems that may not be obvious during a showing. If issues come up, you can go into the deal with your eyes open, ask for repairs or a price adjustment, or walk away while the condition is still in place.

Can you recommend home inspectors, lawyers and mortgage professionals?

Yes. We can provide a list of qualified local home inspectors, real estate lawyers and mortgage professionals our clients have had good experiences with. The choice is always yours.

Why do I need a lawyer?

Your lawyer is the last key piece of the purchase or sale. They confirm the title is clear, transfer the title into your name through the Land Titles Registry, register your mortgage, make sure property taxes are paid and any liens are cleared, and handle the transfer of money between lenders and lawyers. Once everything is in place, they arrange for the keys to be released so your possession day goes smoothly.

How long does it take to buy a home?

It varies, but a typical timeline is a few weeks of searching, a few days to negotiate an accepted offer, about one to two weeks to remove conditions, and then roughly 30 to 60 days until possession. Possession dates are negotiable, so we can work around your lease, the sale of your current home or other plans.

Possession & Moving In

When do I get possession of my new home?

In Saskatchewan, possession is usually at noon on the possession date. We caution buyers not to schedule things too tightly. Occasionally the sellers are not completely moved out right at noon, or funds are slightly delayed moving between lawyers' offices. Leave yourself some breathing room when booking movers and time off work.

When should I set up my utilities?

Contact your utility providers as soon as conditions are removed and the sale is firm. Otherwise the seller may cancel service and you could move in without power, heat or water. In Saskatoon, electricity comes from either Saskatoon Light & Power or SaskPower depending on your address, natural gas from SaskEnergy, and water and sewer from the City of Saskatoon. Outside the city, check with the local town or RM. Don't forget internet, cable and mail forwarding.

Do I need home insurance before possession?

Yes. Your lender will require proof of home insurance before releasing mortgage funds, and you should have coverage in place from noon on possession day. Get quotes early, especially for older homes or acreages, since things like the age of the roof, wiring and heating system can affect coverage.

Selling Your Home

How do you decide what my home should be listed for?

We look at what comparable homes in your neighbourhood have recently sold for, what is currently competing with your home on the market, and your home's condition, updates and features. Pricing it right from day one attracts the most buyers and usually leads to the best result. Start with our free home value estimate, then we will prepare a detailed market analysis for you.

Should I buy first or sell first?

Both can work. Selling first gives you certainty about your budget but may mean a short-term move. Buying first lets you secure your next home but carries the risk of owning two homes for a while. Common solutions include an offer conditional on the sale of your current home, a carefully matched possession date, or bridge financing from your lender. We will help you weigh the options based on the market and your finances.

What is a Property Condition Disclosure Statement?

A Property Condition Disclosure Statement is a form sellers fill out about their home's history and condition, such as past water problems, renovations, and the age of major systems. Buyers commonly make their offer conditional on reviewing it. Being honest and thorough on the disclosure protects you as a seller and builds trust with buyers.

How long will it take to sell my home?

It depends on the price, location, condition and type of home, plus the market at the time. Well-priced, well-presented homes in popular Saskatoon neighbourhoods can sell quickly, while acreages and unique properties may take longer. See what homes are selling for in your area, or contact us for a no-obligation conversation about your home.

Still Have Questions? Talk to Local Saskatoon Realtors

Clayton McNally and Jessica Hamel of Trusted Realty, Powered by RE/MAX Saskatoon, are happy to answer any question about buying or selling a home in Saskatoon and area, with no pressure and no obligation. Send us a message using the form below, browse all MLS® listings, or explore Saskatoon homes for sale.

The information on this page is general in nature and is not legal, tax or financial advice. Rules and programs can change, so confirm the details that apply to you with your lawyer, lender or financial advisor.