When you buy a home the steps to a successful purchase are very important, after all this is your future home. Below I've organized what I believe to be 10 steps to achieving your desired result. Have a look and then feel free to call me with any questions.
1. Know What You Need And Be Ready Before You Start Shopping. Make sure that you are ready. Decide what your wants and needs are. Make a list of what your dream home will include, maybe a 5 piece bathroom suite. Perhaps you want 4 bedrooms, a pool and a back yard facing south for all the summer sun. Urban, sub-urban or rural? List your "needs" along with your "desires." This way, you and I both have a clear understanding and when we start looking for your home the chance of settling becomes greatly diminished.
2. Don't Shop Without A Pre-Approved Mortgage. Get pre-approved, this speeds up your qualifying stage. How much will your bank lend you? This is very useful when there comes time for a bidding war with buyers who are not pre-approved. Make sure! you get a firm commitment in writing from your bank otherwise the lender can back step.
3. Choose a Realtor That Is Perfect For You. I am a licensed professional and I can help you with all the information on properties that might suit you. I have knowledge and experience that comes from helping different types of buyers and sellers.. In addition, with hiring me you are also hiring a large team of professionals to place at your disposal such as lawyers, lenders, inspectors and so forth. Once we start working together I will become an expert on your specific needs and tastes and we will work towards getting you there.
4. Let's Go Tour! Now that you've given me your dream list I can utilize all the tools available to myself as a Realtor to hunt for that perfect home. We may see something right away that excites you and we may not but you need to know that your home is out there and I will help you find it.
5. Lets List Your Home! List your current home. Not too many people can hold on to 2 homes, so lets sell the home your in now. See also my page on "Tips For Listing & Selling Your Home." We can make your offer conditional on the sale of your existing home.
6. The Comparative Market Evaluation. Once we find a home that suits your dream list, I will do a complimentary & detailed Comparative Market Evaluation. This is a list of active, sold and expired homes in order to determine whether the seller is asking a reasonable price in today's market.
7. You Have An Offer. Great! You've found a home that you want to make yours, congratulations. We will write the offer on the Contract of Purchase and Sale. I'll take it to the listing agent or seller and I will negotiate on your behalf to get the best price. You'll need a deposit, it's your way of saying your offer is serious.
8. The Contract of Purchase & Sale. We'll have clauses/conditions inserted which are important to you for example completion dates, inspection reports, your financial institution will want to appraise the home before they lend money. Once you've agreed to the terms and conditions you must fulfill the obligations and remove the subjects. The home becomes yours at this point.
9. Find A Lawyer. You need to find a lawyer to do your conveyance, it's where they transfer the title of the property to your name. Ask them how they structure their fees and get an estimate of all other costs you can expect. Please see my Completion Costs Guide page.
10. Get Ready To Move! You move into your property at 12 noon on the possession date. To be prepared, have all your utilities and home insurance transferred.
Move In! Congratulations.