Choosing to buy a home is one of the biggest decisions you’ll make in your life.I’m here to help. Together we will strategize, using variables like affordability, style, must haves and must not haves. Here is a general overview of what to expect and prepare.
I recommend strongly to meet with a mortgage broker. A mortgage broker has access to all mortgages available on the market. They will explain all the advantages and disadvantages to every part of the mortgage process. It isn’t just the rate! Your banks rep, gets paid whether you get funded for your home or not. A mortgage broker only gets paid if you get funded.
Using the property search on this site and consulting with your REALTOR, you will be able to find homes in your desired area. They’ll update you frequently regarding new listings and schedule you appointments with sellers.
After we’re negotiated an offer to purchase we will enter into the ‘Condition Period’ of the sale. Typical conditions are Financing, Home Inspection and Review of Condominium Documents, (if purchasing a condo). You will need to book a home inspection, (see my Preferred Partners link), and finalize your mortgage with a visit to your lender, and you’re ready to sign off for the Waiver of Conditions. Your dream home is now considered SOLD and you are the new owner. Signing the documents for the official purchase, typically takes place in a lawyer’s office a week or so before possession.
These items are typically the elements that will be addressed in the condition period! Once these conditions have been met, we will waive the conditions and the sale is considered “Firm”! If the conditions are not met, we will not waive the conditions and the deposit will be refunded without penalty.
Your REALTOR can can help you place an offer that the seller will either accept, counter, or reject. After we’re negotiated an offer, you’ll need to book a home inspection and we can discuss any repairs (the cost of which you can also negotiate with the seller). Finalize your mortgage with a visit to your lender, and you’re ready to sign off on ownership. This typically takes place in a lawyer’s office. The purchase of a condo will also involve the review of condo documents.
At this point, congratulations are in order! Becoming a new homeowner is one of the most liberating things you’ll ever experience. There are many benefits to home ownership – pride of ownership, the ability to make home improvements, building equity, appreciation and of course, hosting amazing soirees.