Buying Tips

Buying a home can be intimidating; it’s a big investment that you’re committing to. If you’ve never bought a house before, here are some of the most important considerations to make:

1. Find a Realtor You Can Trust – The home buying process begins with finding an experienced professional realtor you can trust to look out for your best interests. Look for a full-time realtor who can give you advice and guidance from your first meeting right through possession and who will at all times put your needs first.
2. Set Clear Requirements – Before you begin shopping, it is important to first identify and then prioritize the features you want in your new home. Once you have a clear, detailed picture, make sure your agent has the same picture. This communication is critical otherwise you’ll both be wasting your time looking at homes you’re not really interested in.
3. Arrange a Mortgage – Shop for a mortgage before you shop for a home. Getting a mortgage pre-approval is the smart way to shop for a home. It tells sellers that you’re a serious prospect, and you know in advance the maximum mortgage you can afford. Make sure you get the commitment in writing.
4. Viewing Homes – A good realtor brings to the table an in-depth knowledge of the current housing inventory in his or her area, and continually updates that knowledge by touring homes as they come on the market. This is to your advantage. If you are thorough in communicating your needs and what you can realistically afford, your realtor can help you narrow down the list of prospective homes to those that meet your needs, saving you time and energy. On average you will need to view 6-12 homes to find the right one.
5. Making An Offer – When you find your dream home, we suggest that you present a competitive offer immediately. Your realtor has extensive experience in preparing contracts and negotiating. We will work with you in developing an offer price based on recent past sales of similar homes in the same neighbourhood. We will ensure you get just what you want for fair market value.
6. Conditional Agreement – Once you have an accepted conditional agreement, traditionally, the property will be temporarily off the market until conditions are met. Conditions can include home inspections, financing and other conditions specific to your circumstances and to the property you a-re buying. These final details are handled and inspections are performed to ensure the property is perfect for you. As each condition is satisfied, you will be required to sign a notice of fulfillment of conditions.
7. Successful Closing – When conditions are met, the property becomes sold firm and binding. At this time all documents are forwarded to your lawyer. The next steps will be handled through your lawyer who will then prepare documents for closing. It’s now time for you to start packing!