The Buying Process
Buying a home may be a confusing process. Although we take great care in explaining all of the steps that will happen when you are purchasing, we have found that purchasers often forget what comes next because they are excited and even a little nervous!
- The Initial Buyer Interview (Qualification)
We will meet and discuss your wants & needs and of course your wish list! We will discuss and arrange (if necessary) your pre-approval for financing, review contracts, Buyer’s Agency and will also address any of your questions & concerns. Remember, we are a team and communication is key…we can work best for you if we are working together.
- Finding a Home
We work with a property database that is updated throughout the day and is accessible to Realtors only. Although you may find various websites (such as mls.ca) with properties for sale, these sites are outdated which usually means that homes are often unavailable and may not meet your most important requirements. Let US do the work for you.
- Making an Offer
We will ask you for feedback on each home we view. This helps us to determine if we are meeting your requirements for your new home and/or do we need to change the parameters. When you find the right home we will then prepare an offer.
- How Do We Know What Price to Pay?
We will prepare a current Market Evaluation for the property. This report will let us know what comparable homes are selling for in comparable areas. We will then look at the unique features of the home, the details or motivation of the Seller and adjust the price accordingly. Normally there is a range that we work within…our job is to get you the best deal possible on the property.
- The Offer
We will prepare an offer (using standard forms as reviewed at our initial meeting) that incorporates your preferred dates, included items (such as appliances), price, plus any conditions or subjects that allow you to confirm financing, inspection and/or any legal documents required to make an informed decision. We normally allow 7 days to satisfy all your conditions (slightly longer for Strata properties due to availability of required strata documents).
The Seller has 3 options in dealing with your offer:
- Accept the offer
- Reject the offer or
- Counter the offer.
If accepted…Congratulations are in order!
If rejected…we will re-evaluate your offer
If countered…we have the same 3 options that the Seller had. The offer is now in our ballpark. This process will repeat itself until the offer is accepted or rejected outright by either party.
- When We Have an Accepted Offer
Once the offer has been accepted we will deliver the offer to your Lender, we will obtain and provide to you any documents required (e.g. Title Search). We ask that YOU do the following:
- Arrange your Building inspection (if applicable)
- Confirm your lender has all required information
- Choose a Lawyer or Notary
- Arrange for deposit (if necessary)
- Be aware of Subject Removal dates!
Once you are satisfied with your Inspection, the Title Search and/or any of the other conditions outlined in the offer, we will prepare another amendment that confirms that you are happy with the home and wish to buy it unconditionally. You must sign this document and provide your deposit at this time. * Your deposit forms part of your purchase price and is not extra monies paid.
What’s Next For You?
1. Advise appropriate parties of address change
2. Arrange for movers
3. Arrange utilities, hydro, telephone, cable etc.
4. Start packing!
5. Arrange to re-key or change the locks
6. Move in to your new home!
- What’s Next For Us?
Prior to your move in we will send all the contracts to your chosen Lawyer/Notary. We will prepare for your moving day, arrange access, schedule a walk through and will be readily available for any questions or concerns you may have.