Thinking Of Buying?
1. GETTING PRE-QUALIFIED FOR A MORTGAGE:
The first step to buying a property is finding out how much the bank is willing to lend you. This will help establish the price point and define your search. Without the pre-approval, you may be looking at homes with prices above what the bank is willing to lend you which can lead to disappointment if you found a place you fell in love with. Or vice versa, you may be approved for a higher price point and get that dream home you’ve always wanted without settling due to price setback.
2. YOUR WISH LIST:
It is important to be well informed of the real estate market when searching for your dream home. Amid the excitement involved in buying a home, to help you with this process, consider the following factors: What features do you require in a home to satisfy your lifestyle? Will your needs change? What’s your budget? It will help define between the home of your dreams and the home you can afford.
3. HOUSE HUNTING:
Now that you are pre-qualified and established your wish list, we are able to build your search portfolio. We will send you custom listings that fit the criteria you desired. This allows you to preview the properties online. Finally, we’ll go out to view the selected homes.
4. MAKE AN OFFER:
Now that we’ve found the property that meets your search criteria, we will begin by drafting the Contract of Purchase and Sale. It is a detailed legal binding contract that specifies all the terms and conditions that needs to be accepted by both parties (buyer[s] & seller[s]). In most cases, there will be back and forth in the negotiation process before coming to an agreement. We are experienced and skilled to help you negotiate and secure the best possible price, with the most favourable terms, in the shortest period of time.
5. ACCEPTED OFFER & REMOVAL OF SUBJECT CONDITIONS:
Depending on the offer, most buyers will include subjects (ensuring they are able to obtain financing, have an inspection done on the subject property, checking title search, property disclosure, strata documents, environmental analysis, seek legal and accounting advice, etc.). Once all subject conditions are satisfied, we can remove subjects. Upon subject removal you’ll need to provide a deposit- amount as per Contract of Purchase and Sale (usually approximately 5% of purchase price).
6. CLOSING PROCESS:
Our conveyance team will forward all required documents to your solicitor of choice. You, your solicitor and your lender will be involved in the closing process. From there, he/she will give you further details & help with the transfer of ownership on title. Lastly, it’s possession date. We will meet you with keys to welcome you at your new home!
