SCHEDULING THE VIEWINGS
It’s time to start looking at listings and homes. Once you’ve selected the properties in Toronto/GTA you want to view, just let me know. I will take care of scheduling, and ensure that showings are at times that are convenient for you. You should see a wide range of properties to truly understand what’s available in your price range.
MAKE AN OFFER
Now that you’ve found the home that you are set on, it’s time to make an offer. The offer process is both exciting and nerve-wracking. I will begin by drafting the Agreement of Purchase and Sale; and will help you with specific terms and conditions, that will be specified in the offer. This includes the price you want to pay, financing conditions, etc. Once you’ve submitted your offer, the seller can accept it, reject it or sign back a counter offer. During these back-and-forth negotiations, you may need to compromise on small things, but I will work hard to get you what you want. After your offer gets accepted, you’ll need to submit a deposit. Typically, it’s an amount up to 5% of the purchase price; which is held in trust until closing.
MEET CONDITIONS AND CLOSE THE DEAL
On the offer that was submitted, you may have included some conditions. Such as condition on finance, home inspection; or a condition that allows your lawyer to review the legal details. Once the legal and financial obligations have all been fulfilled. Meaning that both you and the seller have agreed on agreement terms, price, deposit submitted, and all conditions have been waived. You will be in the closing process, doing paperwork with your lawyer and lender. The remaining balance in the form of a certified cheque will need to be provided. Ownership and possession of the property would be transferred from the seller to you. Finally, you pick up the keys from your lawyer and celebrate!
GET PRE-APPROVED FOR A MORTGAGE
The first step towards buying a property is to get pre-approved for a mortgage. Your potential lender will require you to show your income, credit history; and disclose your debts. Once approved, you will receive a written letter that includes an interest rate guarantee. It is typically valid for 90 days. The letter will also mention the amount the lender is willing to lend you. As well, what your mortgage payments will be like. This is important in determining what property price ranges you should be focusing on.
MAKE A DECISION ON WHAT TO BUY
Now that you know what your budget is, lets narrow down some options about your new home! Do you want to live in a condo or a house? What Toronto/GTA neighbourhoods do you love? What are your must-haves in a home? How many bedrooms and bathrooms do you need? Do you want to live close to a school or public transportation? These are just some of the things you should consider before beginning your search. Once you have made your decision, I will set up a customized search based on your needs on MLS® and send you a list of Toronto/GTA property matches daily
HIRE ME AS YOUR AGENT AND PICK A TEAM
I will create and execute a strategy that meets your purchasing goals and achieves your home-owning priorities. I will be on your side to look out for your best interests. Remember, as a buyer, you don’t need to pay me as your realtor; as it’s the seller who pays me. You’ll also need a lender to take you through your financing options. As well, a lawyer to help with the legal aspects of the purchase.