There are many steps involved during the process of buying properties and understanding the process is a critically important first step.
- Financing Pre-Approval is extremely important as this will determine the price range for your property purchase. Sellers prefer to receive offers from a buyer who is financially pre-qualified and financially pre-approved. This can add weight to your offer.
- Determining location, & other criteria, including size, style & age of home, number of bedrooms, bathrooms, proximity to schools & services, age & price. Buyers often eliminate what they are not looking to purchase before settling on the search criteria for their perfect home.
- Reviewing & sending properties that match your search criteria for on-line viewing. Electronic searches can be set-up through the Multiple Listing Service at the Real Estate Board which auto-sends listings matching your criteria as they come to the open market.
- Scheduling appointments to view properties matching your search criteria.
- Preparing an offer with terms and conditions which protect and benefit you. Recommending an initial offer price based on the sale price of similar properties and discussing the strategy for successful negotiation to offer acceptance. Subject conditions are typically 7-10 business days from offer acceptance to allow time for you to fulfill your subject conditions. Most offers will include subject conditions for financing approval & property inspection as well as review of Title Search, Property Disclosure Statement, & strata documents for strata-titled properties. If the subject conditions are met to the satisfaction of the Buyer, subjects are removed, and a deposit (typically 5% of purchase price) is placed into trust and the accepted offer becomes a firm and legally enforceable contract.
- Completion of the Sale occurs typically between 30-90 days after subject removal. A lawyer or Notary Public will prepare final documents for the conveyance approximately 3 days prior to Completion. Possession generally occurs 1-2 days after Completion at which time the keys to the home are handed over to the Buyer.
There are many important questions to consider when purchasing a home. Avoid time-consuming and costly mistakes and put my experience to use. To get the ball rolling, all you need to do is fill out the form below or simply get in touch and I will help you find your dream home!