When you buy a home the steps to a successful purchase are very important, Below I have organized 10 steps to achieving your desired result as stressfree as possible. 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. Decide what your wants and needs are. Make a list of what your home will include. Perhaps you want 4 bedrooms, a pool and a back yard facing south for all the summer sun, or a view or wood burning fireplace are important to you. Urban, sub-urban or rural? List your "needs" along with your "desires." This way, we both have a clear understanding and when we start looking for your home I have good idea of what you will like.
2. Don't Shop Without A Pre-Approved Mortgage. Get pre-approved, this speeds up your qualifying stageand tells you how much the bank will lend you. This is very useful if you are in a bidding war with buyers who are not pre-approved. Make sure! you get a firm commitment in writing from your bank .
3. Choose a Realtor That Is right For You. I am a licensed professional and 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. As well as experience in negotiation.
4. Let's Go Tour! Now that you've given me your dream list I can utilize all the tools available to me as a Real estate advisor to hunt for that perfect home. We may see something right away but it may also take a while to find the right place. Be patient- 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 you are in now. You can purchase a home with long closing dates to enable you try and sell your house or You can sell your house with long closing dates to enable you to find a new home. We can also make your offer conditional on the sale of your existing home, or Your home sale can be conditional on you finding an alternate within a given amount of time. This is all dependant on your risk tolerance.
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. I would be doing the same when I was recomending a price to sell your house.
7. You Have An Offer. Great! You've found a home that you want to make yours, congratulations. I will write the offer on the Contract of Purchase and Sale, take it to the listing agent or seller and I will negotiate on your behalf to get the best price. You will need a bank draft deposit and an idea of what date you'd like this house to be yours.
8. The Contract of Purchase & Sale. I will 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.
10. Get Ready To Move! You move into your property at 12 noon on the possession date, Have all your utilities and home insurance transferred-generally you will want home insurance to overlap with the seller so not a moment is left uninsured.
Move In! Congratulations.