This is our starting point! Your first step is to sit down with a Mortgage Broker and/or bank to get a better sense of your budget and timeline. Knowing what you can afford is an important step in our ability to match you with desired properties.
We work with highly experienced, friendly mortgage experts on a daily basis that represent banks and other lenders to match you with the proper products that lead to your mortgage approval.
It’s important to think about what your needs are in a property, while it’s equally important to then realize what are actual wants vs needs and what ‘features’ in a home would be deal breakers or not. Are you looking to live in a specific area of town, need a minimum number of bedrooms, move in ready vs a bit of a fixer upper? All of these are important questions to ask yourself during this time. Feeling confused or overwhelming is normal and natural for the starting stages of your search. Although, this is where we come in and help guide you step by step along your exciting journey!
After discussing budget and search criteria, we can send you listings before they hit the market that are applicable to what we’re looking for. While pictures can be hard to gauge for a sense of size and feel, we encourage visiting as many homes as you can to get your feet wet and become familiar with a variety of locations, neighbourhoods and more importantly, style of homes. It’s important to know the market you’re in while searching, since depending on the market, homes can move FAST! Sometimes we can schedule a ‘tour’ of showings and knock them all out in a few hours, but on the other hand, in the example of a Seller’s market, sometimes we will need to see a listing the same day it gets listed, to ensure you don’t miss out!
As we tour properties, you’ll begin to learn what you love and hate; it may start to change your mind on your original criteria and make us move in a different direction… All of this is normal!
There’s a few key components that can help you become more appealing as a Buyer of a property and other aspects that can protect you to make sure you’re satisfied before making it official. When drafting an offer, keep in mind, once an offer is accepted, it does not mean you’ve purchased the home, yet.
Here are the key highlights when writing an offer:
What does it mean to go firm? Even with an accepted offer, we likely will still have conditions to meet, so until we sign and hand over the Notice of Fulfillment, Waivers and/or an Amendment, the house isn’t quite yours yet. Usually within 24 hours of having an offer accepted, you will need to put down a deposit(previously discussed and reminded while writing an offer) to hold your offer in place. We will have an average of 5 to 10 business days from the date of acceptance to get all your conditions (financing, home inspection and any other inspections we discuss), fulfilled before purchasing the property. Feeling uneasy or not ready to pull the trigger? You are able to walk away from the deal during this conditional period and have your deposit returned to you in full without penalty. Once you waive your conditions, you’ve purchased the home! Congrats!
This stage can feel a bit drawn out, one because of the excitement of purchasing your first home, and two, because the last couple of weeks have been go, go, go! But, now it’s time to relax and think about your ideas for the property! During this period, you will also need to finalize your insurance and financing, set up utility accounts for the property, and meet with your lawyers.
We also would have negotiated a few walkthrough allowances (in our offer clauses), which allow for us to have another peek at the property after officially purchasing the home. We generally always save one, the final walkthrough, for a day or two before closing to ensure the home is good to go(no damage or concerns) and appliances/mechanics are working correctly as agreed upon in the offer, giving us time to rectify any issues that may come up with your lawyer.
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