Buying with Jessica

STEP-BY-STEP HOME BUYING PROCESS

HERE IS THE PATH TO HOME OWNERSHIP...

1. Get Pre-Qualified/ Pre-Approved

  • Meet with your mortgage broker/bank and find out what you are approved for 
  • Ask for the best possible rate and the right term for your lifestyle and establish a reasonable budget and plan with whoever is advising you financially 
  • There is no point viewing properties you can't afford right? Let's make the most out of your valuable time

2. Interview with Buyer Sales Representatives and Select one to Hire

  • Contact a Sales Representative you may know, or ask friends and family you trust to refer you to someone in the business
  • A Buyer's Agent will represent you and have a fiduciary duty and responsibility to look out for your best interests regarding the real estate transaction
  • A Buyer's Agent will guide you through the process step-by-step
  • You will be asked to sign a Buyer's Representation Agreement - which is your contract between you and your Agent in Buying a Home

3. Look at Homes for Sale

  • Ask your Buyer's Agent to look at homes for you before showing them to you (filtering) if you have a pretty broad range of what you would like to see
  • Narrow down your search to those that fit your parameters and budget
  • Ask your Buyer's Agent to to give you MLS listing printouts of comparable sales in your target market

4. Write a Purchase Offer

  • Request advice and guidance from your Buyer's Agent on what a reasonable offer may consist of for that particular property. Your Agent can go through recent comparable sales, expired listings as well as active properties to help guide your pricing strategy
  • Make an earnest money deposit upon acceptance of an offer
  • Give enough time to complete your conditions (5-7 business days)

5. Negotiate and Write Counter Offers

  • Expect a counter offer
  • Let your Buyer's Agent guide you through the counter offers always taking into consideration your best interest

6. When Offer is Accepted

  • Deposit is made to the listing brokerage
  • Start fulfilling your conditions:
    • Mortgage: send all paperwork to your mortgage broker/bank
    • Insurance: call to obtain a quote on home insurance
    • Inspection: your Agent will have a list of home inspectors to choose from, or you may choose to bring in specific tradespeople 
    • Other Conditions (if country: septic/well, water testing)

7. Condition is not met

  • If the inspection turns up health and safety concerns, major repairs needed, you may go back to the negotiating table: request for repair by seller, price negotiations or abatements on closing

8. Conditions met

  • Offer is finalized, home is sold
  • Sold sign goes up
  • The property may not be offered on the real estate market at this time
  • Lawyers will search title a week or two prior to closing

9. Closing day - Happy Dance Day! 

  • Prior to closing, you will want to do a final walkthrough with your Buyer's Agent, make sure that all fixtures/chattels included have been left with the house and that they are functioning, and make sure there is no significant damage from the move
  • Lawyer may need final signatures 
  • Lawyer fees will need to be paid at this time 
  • Home closes on day of closing, Buyers receive keys as new home owners
    • Caution: you may not start to move things in prior to the closing, you must wait for the keys. Also there is no specific time that we can tell you when you will have possession, it's all in how quickly the Lawyers can get to it that day. We advise that you book movers in the afternoon. 
Jessica Diggles

Jessica Diggles

Sales Representative
CENTURY 21 Blue Sky Region Realty Inc., Brokerage*
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