1:The Pre Approval
Arrange a meeting with your Mortgage person and get things moving by filling out your application. Be prepared and take with you income verification, an employment letter and confirmation of your down payment. Be sure ask exactly what the lender will need ahead of time and once approved, ask for a Pre Approval Letter of confirmation.
2: View Homes & Condos
Work on which are your preferred areas and what is your maximum budget and we will email you the active listings within those areas and parameters. At a time/date that works for both of us we will set up a tour of all the properties that fit your criteria and you want to see.
3: Selecting Your New Home
Most people go with their “gut feeling” when they enter the home they really like. Once they are inside then we start to tick the boxes. The location will of been decided beforehand and logistics for work, schools etc already decided. Once we we the short list we can second view and be “objective” does it REALLY work and shall we make an offer.
4: Putting In The Offer
Our offer will be based on relevant comparable sold’s in the area, time on the market and upgrades to the property. We will have a “Starting Point” this can’t be too low because you want the seller not to dismiss your offer, but to work with you so that both sides are happy. Our goal is to achieve the best terms and price for our clients, based on our combined 24 years experience.
5: Offer Accepted
The offer is firstly accepted on price, we add to that our conditions and possession date. The most common conditions are usually Financing, Home Inspection and (or) Condo Document Review, and sometimes review of Bye-Laws if applicable. In a Rural Property Purchase we could add to this Septic Inspection, Well Inspection & Water Analysis (or Co-op Water Analysis if applicable). Usually our length of condition period would be 10-14 business days before we remove our conditions after we are satisfied.
After all is accepted we are in the condition period and need to set up all inspections and reviews.
6: Removing Conditions
All our conditions have been met, if a few smaller things pop up during the Home Inspection we will amend the contract to have the seller put them right before our “Walkthrough” prior to possession. (usually 48 hours)
7: All documents To the Lawyers Office
We will see that all documents are sent to your lawyer’s office as soon as possible. You will then arrange to meet with your lawyer, usually 7-10 days before possession to sign all the required paperwork. Make sure you bring a check or your credit card as the lawyer will be making adjustments for down payments and work done as previously agreed with them.
8: Keys are Releasable
We will make arrangements to meet you at your new home for the “Walkthrough” and we also meet you there when Keys are released by the Sellers Lawyer on possession day. The only thing we suggest is not to book your Telus /Shaw or removal company until the next day, in case there are any hold ups, it doesn’t often happen, but it can.
Then you can just enjoy your new home!!
Call us to discuss your options 403.850.0669
Stu Lowe & Lora Greco