Eight Steps To Follow When Buying A Home

If You’re Going To Buy A Home

In the Next 60 Days, Our FREE HomeFinder Service Is Just For You...

Whenever you’re ready to start looking at homes, you may want to take advantage of our FREE HomeFinder Service, where we will search and match your exact wants and needs with ALL the new homes that come on the market each day. Our HomeFinder Service is perfect for when you’re starting to look at homes, and you want to find out about NEW listings as soon as they come on the market.

But before we do all this here are 8 Steps to follow when buying a home...

1.  Decide to buy a home. That sounds reasonable, doesn’t it?  Yet, so many of us are really “just looking” rather than seriously considering changing the location of our home.  Why is it that you want to find a new home?  Has your lifestyle changed enough to warrant this type of investment?  Until you identify your NEEDS and your WANTS, you’ll find it very hard to find just the right home for you.

2.  Find a great real estate consultant. Once you’ve decided to buy a home, find a great real estate consultant.  What you’re looking for is a Buyer’s Agent.  This means that the consultant represents YOU as the buyer, rather than the person selling the home.  They will have YOUR best interests at heart. Really good consultants know their markets, and will help you find the best match for your needs and wants. They can also recommend mortgage brokers with whom they’ve worked in the past.

3.  Secure financing. If possible, get “pre-approved” for a loan in the amount you’re willing to borrow.  With this pre-approval, you’re in a stronger position to buy a home when you’re ready – rather than finding your dream home, only to lose it to another buyer, because you were waiting on the approval.

4. Find your dream home. Now that you have your “wish list,” your consultant, and your “pre-approval” in hand, go forth and find yourself a home. As you go through homes, make sure to express your likes and dislikes of a home as your consultant will take notes of your impressions of the house, and have fun naming each house (the stinky house) so you can remember all the homes you’ve seen.

5.  Make a written offer and negotiate the price. Once you find your home, work through your consultant to make an offer.  Typically your first offer is going to be lower than the listing price.  Listen to your consultant; they’re representing you and know what homes have sold for in that neighbourhood.  Rarely will the seller accept this first offer, so they’ll counter with another price.  Back and forth you’ll go until you settle on a price.  (This is where the consultant is really using their expertise).

6.  Time to Oversee the Transaction. Once you and the seller have agreed on a price through your consultant, it's time to start overseeing the transaction, What this does is put a “good faith deposit” in a hands of the Sellers Brokerage, to demonstrate that you’re serious about buying this home.  Many buyers offer 2.5% to 5% of the selling price of the home. Your consultant will handling all the deposits, paperwork to lenders, lawyers, and oversee that all the conditions to the sale are addressed.

7.  Have an inspection. The home inspection is to protect you from buying a home that may have serious hidden structural problems or defects. 

8.  Sign the final documents, get the key and move into your new home.

Finally!  The home has been inspected, you’ve cleared the title to the property, and you’ve “closed” on the deal.  All you have to do now is move in.  Don’t forget to put out the welcome mat!

These tips and many more are available as part of your Buyer Consultation, whether you are a 1st time buyer or move-up buyer.

Whenever you’re ready to start looking at homes, you may want to take advantage of our FREE HomeFinder Service, where we will search and match your exact wants and needs with ALL the new MLS homes that come on the market each day.

 

Our HomeFinder Service is perfect for when you’re starting to look at homes, and you want to find out about NEW listings as soon as they come on the market.

 

If you would like to be part of our "HomeFinder Service" along with receiving our "How To Buy Your Home" Handbook just give us a call or email and we can arrange a convenient time to get together.

 

Courtesy of Century 21 Team Realty Ltd. FREE to our Buyer Clients.

 
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Justin Lepore

Justin Lepore

Broker of Record
CENTURY 21 Team Realty Ltd., Brokerage*
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