1. The Starting Line. How much can you afford?

Speak to someone at your bank or a mortgage specialist to get to the process started They will be able to tell you roughly how much you can receive and what you will need to begin your journey of searching for a home.

 

2. Searching For Locations.

Once you have an understanding of how much you can spend, it’s time to narrow down areas and neighbourhoods. Go for that drive, walk around the area, research the location.

 

3. Find A Realtor.

You have a budget and have found key areas. Now is a good time to reach out to a realtor if you already haven’t done so. Choose someone you know will truly have your best interest at heart, Integrity, honesty, consistency and that passion to go the extra mile all matter. A buyer’s realtor receives a disclosed compensation from the sellers upon completion. 

 

4. Finding A Home’s Value.

In today’s market, it’s crucial that you have a solid understanding of the home you are looking to put an offer on. Make sure your realtor is doing everything possible to give you a breakdown of the home and finding out as much information as possible. Be confident in your offer!

 

5. Writing An Offer.

So you are ready to write an offer, now what? Make sure all documents such as The Contract Of Purchase & Sale is thoroughly explained. Always ask questions so there are no surprises later.

 

6. Dates, Dates & More Dates!

One of the most important factors which some neglect are the dates. Completion, Possession & Adjustment. Carefully pick a date that works for you to not only complete on the home but also to move in. Ensure your finances will be ready to complete & you’re not moving on a date you were scheduled to travel to Fiji. Both parties will have to agree on them, but choose wisely.

 

7. Get Everything In Writing!

Want that big screen T.V in the master bedroom or that pool table in the rec room? The owner might even say they will include certain things, but don’t take anyone’s word for it. Get everything in writing. Even things you may think are included such as appliances need to be stated on paper.

 

8.. Subject Removals.

Once an offer has been accepted, there may be a specific time frame you have to remove your subjects if you have any at all. Things such as subject to financing or subject to inspection. Once you successfully remove subjects, a subject removal document will then be signed & sent off to the sellers realtor. There is only one thing left to do now...

 

 9.. Deposit.

A deposit is normally necessary for any offer and is usually about 5% of the purchase price. This is something which is done to show good faith and serious intent to purchase. This is NOT your total down payment amount but will be held in trust until completion. At this point it will be  included into your purchase price along with the remainder of the down payment amount.

 

10. Seeking a Lawyer or Notary for Closing.

Don’t leave this step to the last minute as many people are extremely busy and might need to have specific documents on time. Ask your realtor for a few names or find one on your own. Much like a realtor, ask lots of questions and don’t leave anything to surprise you later on. Every Lawyers & Notaries have their own closing costs/fees, so make sure you discuss this before hand.

 

11. Moving In!

It’s finally getting close, the big day. Get the keys to your home and move on in. Some key things you should do are to book your movers or moving trucks ahead of time. Don’t leave your packing to the last minute and start slowly getting those boxes ready to go. Make the proper arrangements with your cable & internet providers to ensure you have services right away. If you are moving into strata, book the elevator if applicable and make arrangements with strata management.