The Step-By-Step Home Buying Process

Step One: Be qualified by a mortgage specialist
It’s much easier to search for a home when you know what price point you’re comfortable with. And, being pre-approved by a mortgage specialist before making an offer on a home can save you thousands of dollars later. When you call me to set up our counselling session, I can recommend top mortgage brokers for you to contact before our consultation.

Step Two: Your consultation
I will quickly go over the basics of buying a home and provide you with the Working With A REALTOR® brochure. Next, I’ll ask you many important questions to help me get a clear picture of what your needs, wants and desires are. This takes about 30 to 45 minutes.

Step Three: Sign the Buyer Agency Agreement
I will go over your rights as a buyer and the different services offered to you. To receive the highest level of service, you must be a client. Think of the Buyer Agency Agreement as an exchange of commitments—I am committed to providing you 110% of my time, energy and expertise, and in return, you provide me with your loyalty. Sounds fair, doesn’t it?

Step Four: Find your new home
Once I know all your particulars, I use technology to search the Multiple Listing Service, review exclusive and ‘pocket’ listings to find properties that meet your needs. I have also been known to door knock or cold call a neighbourhood to find properties for clients.

Step Five: Draft the Agreement of Purchase and Sale
Once we have found your dream home, I will write up the Agreement of Purchase and Sale (AP&S), review with you and have you sign. A sample of copy of this is given to you at your consultation.

Step Six: Write your deposit check
At this time, you may also need to submit your deposit in the form of a certified check or bank draft. Alternatively, your deposit will be required 24 hours after acceptance of the offer. I take the check and the AP&S to the seller’s agent and negotiate the sale on your behalf. If the seller accepts your offer by signing the sales contract, you will have a “mutual acceptance.”

Step Seven: Fulfillment of any conditions
Many times your property purchase is conditional on a home inspection, financing or status certificate (condo). Any condition needs to be completed to your satisfaction, after which we firm up your offer to purchase the property.

Step Eight: You bought your new home
YAY! Although the majority of my buyers are very excited, some still feel a bit of nervousness. This happens because it’s time for a commitment, and legal documents. So remember, the butterflies you feel are normal. Rest assured…I haven’t lost anyone yet!

Step Nine: Choose a lawyer
All of the documents will be sent to your lawyer so they can search the title of the property along with any liens or encumbrances, confirm any adjustments and assist with closing matters. Your new keys will be picked up at your lawyer’s office on your possession day. I can recommend top lawyers for you to contact.

Step Ten: Prepare to move
Your closing and possession dates will be determined when you write the AP&S, and are agreed upon by both the buyer and seller. I work hard to make sure that everything runs smoothly and to make it as easy and pleasant for you as possible. I will coordinate your home inspectors, appraisers and lawyers; identify problems; and find solutions.

Step Eleven: After the move
Our relationship is just beginning. Should you ever need assistance, I’m only a call or email away. I will also visit with you twice a year – once over coffee to check in on how you are doing, and once to provide an equity evaluation on your home.

Closing Costs
Remember to set aside 1.5% – 2.5% of the purchase price to cover closing costs. I will provide you with a full list of closing costs at your consultation.