BUYING YOUR FIRST HOME

There's nothing quite like owning your first home. Use this guide to help you with the home-buying process:

1. Consultation

Help me to thoroughly understand your needs, then enter into an agency relationship:

• Buyers Agency Acknowledgement Form • Buyers Exclusive Agency Agreement • Working with a Realtor™ • Fintrac Form

2. Contact Your Mortgage Broker

Obtain a pre-approval: getting preapproved is important for a couple of reasons. You will get a better idea of what type of property you should be looking at based on how much money you have, sellers will only entertain offers from qualified buyers and once you have been preapproved at a specific interest rate that rate is guaranteed from the lender for an allotted amount of time. 

3. Find Your Dream Home

So you’ve found your Dream Home! What next? I will assist you with deciding on key elements of your offer: Price, Deposit Amount, Dates and Subject Clauses / Conditions.

4. The Offer

I will prepare your written Contract of Purchase and Sale, and then present and negotiate your offer to purchase.

5. Due Diligence

• Inspection
• Title Search
• Property Disclosure
• Environmental
• Home/Fire Insurance 

REVIEW STRATA DOCUMENTS

• Form B
• Strata Minutes and By-laws
• Financial Statements
• Engineers Report
• Registered Strata Plan
• Depreciation Reports

6. Remove Subjects

At this point we remove our conditions and the deal goes firm. Congratulations, we have a firm and binding contract! This is when the deposit is due. It is important to make sure you have these funds available in your bank and/or if you’re borrowing this amount that your broker has enough time to organize the funds for you.

7. Choose A Lawyer / Notary For Closing

You’ll also need to contact your cable provider, the local gas company, water provider and electricity company to inform them of when you take possession Arrange movers.

8. Possession

Completion Day: Congratulations you are officially homeowners. This is the day the money and ownership of the property officially transfer hands. 

Possession Day: Exciting day! Today is the day you get your keys. Finally time to move in!

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