Buying your new home can be very exciting! My home buying guide will help you understand the process – describing each step in detail, from the very beginning through closing. Below, I’ll take you through a short outline of the main steps – then, contact me for your own Buyer Prep Package so you’ll be ready to hit the ground running.
But first, Coffee!
Before beginning your home search, let’s go over your needs & goals and set a game plan. Meeting with your Realtor is a great way to start as you can get your ideas organized, and gain some knowledge of the market so you’ll be prepared to navigate it. Knowing what you want, and more important what you definitely DON’T want, will help both of us to zero in on a perfect home in less time.
Get Pre-Approved for your Mortgage
Visit a Mortgage Advisor (I can recommend one if needed) to discuss your financial position before you start dreaming about the homes for sale out there. There’s nothing worse than finding your dream home and realizing it’s way out of your price range. The mortgage advisor can also help you to know what kind of upfront costs you’ll want to account for to keep in the bank.
These days, most sellers prefer only pre-approved Buyers view their homes, and once you get to the offer stage you’ll have more power to negotiate if you can show your approval is secured. You’ll also have the comfort of knowing exactly what you can afford before you start the hunt.
Want an initial idea of what you might be able to afford? Fill in your details in this mortgage calculator.
Search for Homes
Once you have your criteria worked out, I set you up to receive emails of any active listings out there that suit what you’re looking for. These come to you as soon as they’re uploaded on the back-end, and before they reach Realtor.ca – so you could have an edge on the newest listing before the public sees it. Then, we put together the properties you love and make sure we view those in person. Each showing gives you a chance to learn more about what you can get in your area at your price point. You’ll find a place to call home.
Make an Offer and Negotiate
Once you’ve found the home you’d like to buy, it’s time to make an offer. Here is my time to go to bat for you! First, I will explain every detail of the contract forms so you know exactly what all the terms are. Then, I will help you to bring forward the best offer at the best price. If the offer is countered and goes back and forth, I will work to negotiate on your behalf to get the deal done that you’re happy with!
Once we have an accepted offer, we get to work on next steps including getting your deposit in, and fulfilling any conditions (like financing, inspection, etc.). I will go over everything you need to know and ask to make sure there aren’t any surprises before we ‘firm up’ a done deal.
Arrange your Lawyer & Your Move
While your Mortgage Advisor works to finalize your financing there may be some questions they have along the way, and this is also the time to get a real estate lawyer working on your purchase & movers booked.
Your lawyer will look over the title to your new property and make sure all is straightforward to change ownership, and they will meet with you before your closing date to sign off on documents.
Whether you’re hiring a moving company or getting some friends to help you move in exchange for pizza, it’s always a good idea to book them in as early as possible. Movers can book up early, especially in the busy warmer months, and your friends might need some time to prepare as well.
Close the Deal
Your offer always has a date of completion, otherwise known as a Closing Day, when the ownership/title to the home is officially switched over to you and the purchase money is delivered to the sellers. You will likely have signed off on this paperwork days before with your lawyer, and your lender has organized transferring the funds for this date.
Sometimes there can be delays, which can result in you not getting your keys until later than hoped, or questions will arise – I am there, on call for you for anything you need. A good Realtor is there to help make your process go as smooth as process, through to Closing Day and beyond.
Have a look at my Buyer Prep Package to read more about the ongoing work I offer beyond your Closing Day – my clients never stop being my priority, and I love to show them my appreciation!