Home Buying Process
What to expect during your exciting journey.
We thought it would be helpful to outline the major steps in the order they will occur as you advance from purchaser to homeowner.
- Meet with us and begin the home purchase journey with a commitment to service via the buyer representation agreement.
- Together, develop the most advantageous strategy to find the right home for you, based on your needs, wants and specifications.
- If you do not already have a mortgage broker, we will assist you in finding one.
- Pre-qualify for financing for your home purchase.
- View homes and neighbourhoods.
- Find the perfect house that will become your home.
- Sign Purchase and Sale Agreement.
- Negotiations will take place to secure the property at the best price possible.
- Finalize Agreement and receive a copy for your records.
- Provide the deposit monies in the form of a certified cheque or bank draft.
- Conduct a home inspection, if this was a condition of the agreement, within the stated time limits.
- Finalize Financing with lending institution.
- If you are purchasing a property with a condominium fee, all documentation regarding the corporation will need to be acquired and reviewed by your lawyer.
- Waive all conditions, as applicable, on the Agreement of Purchase and Sale, or amend agreement as required and receive copies of all signed paperwork for your files. Congratulations, your deal is done.
- Agreement of Purchase and Sale and all accompanying documentation (waivers, amendments) will be forwarded to your Lawyer.
- Make contact with your lawyer, they most likely will have a check-list for you. As well, they may require a retainer.
- Lawyer and Bank will review the agreement.
- Book movers.
- Contact all utility, phone and cable companies, post office and alarm service (as applicable) providers to advise them of your moving date.
- Schedule appointment to sign closing documents with lawyer.
- Discuss Title Insurance with your Lawyer.
- Contact a Home Insurance Company and arrange to have the property and home insured beginning on the day of closing.
- Contact bank to ensure everything is in order for the mortgage of the property.
- Closing day - you will meet with your lawyer to sign all documentation (Government photo I.D. will be required) to take possession of the home. Keys will be provided at the time of signing and the lawyer will require the balance of the funds. This may all take place as late as late as 5:00 p.m.
- You may be able to access the home immediately after signing and receiving the keys. The Agreement of Purchase and Sale stipulates that you are allowed access to the home and property as of 6:00 p.m. on the day of closing.
- Once you've settled in, invite us back to see how you've transformed the house into your home.
We believe it is important to keep the lines of communication open throughout the home searching and buying process, from the day we first meet right through to the closing date and beyond. We look forward to having each and every client as a lifetime client. Listening to what our homebuyers have to say helps us to ensure that we are with you every step of the way. It is an honour and a privilege to work with you and be a part of such an exciting process.
There may be other circumstances that are specific to your purchase that may impact some of these processes and the above steps should be considered a general guideline only. Any questions should be directed to me and most often your lawyer, for advice and direction to best handle whatever the situation may be. This may include such things as: zoning, permits, building questions, tenancies, non - Canadian residencies, power of attorney and tax related questions.