Home Purchase Process
There are many individual steps involved in the home purchase process. And managing these steps successfully the attention of a seasoned real estate sales professional. I will be guiding you through each and all of these steps as necessary.
- Decision to purchase home
- Sales associate selection
- Initial counseling interview
- Home search
- Home selection
- Write the offer to purchase agreement
- Negotiation with Seller
- Contract is agreed upon by both Buyer and Seller
- Mortgage application
- Credit Report
- Verification of Assets
- Verification of employment
- Arrangement of inspections
- Mortgage Approval
- Pre-closing inspection
- Obtain homeowner's insurance
- Transfer of utilities
- Send Agent referrals
Step-By-Step Through the process
We will participate with you through the following steps:
- Conduct an in-depth qualifying analysis to determine the price range of the property that would suit you, the buyer. We recommend you be pre-qualified for mortgage financing.
- Review the features and amenities you desire in a home.
- Select the most desirable properties in your price range selected from our extensive inventory of available properties:
||MLS Sort and Select process
||Estimated closing costs
||Familiarization with the Real Estate Purchase Contract.
- Pre-selection process for desired homes and arrangements will be made for showings:
||View properties and obtain all pertinent information from Realtor, if any are of interest
||When you have selected the home you want to own, we prepare a Real Estate Purchase Contract.
- Engage in the process of negotiations through your Realtor with the Seller.
- When the Real Estate Purchase Contract is accepted by the Seller, the property is sold. Copies of all the documentations are processed and sent to the Purchaser's and Seller's solicitors.
- If a mortgage is required, we can assist in the mortgage application and approval process up to obtaining a mortgage commitment from the lending institution.
- We recommend a lawyer be chosen to handle the transfer and registration. You may even want to consult with them regarding the Purchase Contract before presenting to the Seller.
- When the transaction becomes a binding agreement, the Buyer's solicitor searches title to determine:
||An accurate description of the lawful use of the property
||Restrictions as to the insurability of the property
||Encumbrances, liens, easements, restrictions, encroachments or other claims registered on title (e.g. undisclosed mortgages, right-of-ways etc.)
- Buyer's solicitor makes requisitions to the Seller's solicitor within the pre-determined date set out in the Real Estate Purchase Contract.
- Purchaser's solicitor verifies financing commitment with the lending institution.
- When all searches are satisfied, the solicitors arrange with the lenders for the transfer of funds.
- Buyer arranges insurance coverage from the date of closing.
- Buyer's solicitor contacts the utility companies and the tax department to determine amounts, if any, are in arrears before closing adjustments.
- Buyer and Seller meet with their respective lawyers to review and sign closing documents (mortgage, deeds, declarations, undertakings etc.).
- Solicitors for both parties meet on the date of closing to exchange documents, funds, keys and register all documents on title.