Purchasing a home can be an intimidating process. As you would like to get a home that can last as a long-term investment, it is important to focus on your home buying journey and ensure you have a skilled agent to take you through the process. If you have ever wondered what the process of buying a home might mean for you, we have created this step by step guide on the process and what you can expect:
Prepare yourself
Mentally and financially preparing yourself can be important before you enter the market.
Preapproval
Work with a broker or find a bank that will offer preapproval. You may need to submit a few applications, but when you are approved, you can determine what your budget will be.
Consult with a relator
Work with an experienced relator. Talk to an agent to find your ideal price range, location, current market conditions and more.
Begin your search
Your real estate agent will let you know about homes that suit your specifications and you can search online to find homes that match your needs as well.
Check market conditions
Consider the market conditions of current properties and keep specific points in mind where you might walk away from a deal. Look at market conditions and remember what the average value is for your neighbourhoods of choice.
Make offers
When you decide on a home that you like and that is priced well for the area and market conditions, make an offer. Your agent will help you find an offer that contains the right clauses and a fair price to be competitive.
Negotiation
If you receive a counter offer you do not need to be intimidated. Your agent will work with you to determine the best terms for your deal.
Accept the offer
When you find the details of the offer acceptable, work with your agent to satisfy the conditions of the offer. You may need to schedule a home inspection, appraisal, get your financing approval with your lender for the property, put a deposit in trust with your relator, and work through the steps. Your agent will help you navigate these stages for an easier process.
Subject removal
If you complete the subject clauses, sign the deed and the home will be yours.
Receive notarized documents
Work with your agent and a notary to receive your documents and to have all of them completed by your move in date. Most of the documents will be completed a few days before you move in.
Move in
Move into your new home by the date and enjoy your home!
The process of moving into a home is one that can be guided by your real estate agent. By working with a local agent, you can make sure that you get all the answers you need throughout the process and some of the best experiences in purchasing a home. If you feel intimidated by the process of buying a home, remember that an experienced agent can help ease the process and keep you on track.
If you would like more information on working with an experienced real estate agent, contact us today.
