Knowing what you can afford is (obviously) a very important step in this process. Connect with a Mortgage Broker who can walk you through the financial side of buying a home and submit your pre-approval so you know how much you can afford.  The Mortgage world is constantly adjusting to new Government policies, new lender policies, changing interest rates and unique client situations. Mortgages are complicated and require a good Mortgage Broker to help you understand your options and take advantage of opportunities. I can happily connect you with a Mortgage Broker.

Every purchase will have some one time costs and then ongoing monthly costs to consider. All of these costs should be considered prior to purchasing so you know what’s expected of you and can feel comfortable going forward. Such as: Home Inspection, Appraisal, Survey, Legal Fees, Title Insurance, Property Transfer Tax and more.

Think about your list of criteria, your “must haves” and where you want to live. This step requires some significant lifestyle decisions, and don’t worry you can adjust your criteria as you start to learn more about your options. I have some clients who start you with a really specific and then open it up as they realize what’s possible, and others who start with an open ended search and narrow down as they realize what’s important.

So you’ve found a fantastic property, I’ve done some initial due diligence to ensure the home is in good repair and your initial questions have been answered – it’s time for your offer to purchase. We’ll talk about the comparable listings and sales, a negotiation strategy and what I know about the Seller.

Now that we have an accepted offer, it’s time for your final due diligence. During the subject removal period – the amount of time you have for due diligence is until the “subject removal date” on the contract – we’ll go through all the property documents, bring in the home inspector (I can give you referrals to thorough inspectors), and you’ll work with your mortgage broker to ensure your financing is officially approved. If you learn anything from the documents, during the inspection or regarding your financing that you don’t like, you can terminate the contract and walk away from the purchase, or ask for a price reduction.

Once all of your questions are answered and your financing is approved, you can remove the subject clauses on the contract to create a firm offer. All that is required to remove the subject causes is to sign a few forms prepared by me, and submit your deposit! I’ll meet up with you to collect the bank draft. The deposit is held in trust by my brokerage (office) until the Completion Date, at which time we send it to the Lawyer who packages the deposit with the rest of your down payment and mortgage funds and sends it to the Seller to complete the purchase!

Now that the purchase is official, we’ll be waiting for the Completion Day and Possession Day! On the possession date at 12pm (or whatever time is in the contract), we’ll meet at the property to ensure everything is as expected (i.e. is it clean? did they leave specific pieces of furniture?). Finally, you can start moving in!

On the Possession Day, you’ll finally get the keys! We’ll do a walk through of the property to make sure it’s clean and the appliances work, and then you can start moving in and planning your first shindig. It’ll be a whirlwind few days for you, but oh so exciting! This is your chance to create a lovely space that inspires and supports your lifestyle with the opportunity to create new routines.