First-Time Home Buyers Guide

The following are the general steps that are taken when buying your first home. Of course, our team is always there to help you during the entire buying process and the following is simply a guideline.

First-Time Home Buyer’s Guide Checklist

Get Pre-approved For a Mortgage

One of the first things you need to do is speak with your bank, credit union or a mortgage broker and seek pre-approval for a mortgage. During this meeting you’ll find out what you can afford and when you’re pre-approved for a mortgage you’ll know how much financing you can obtain from your lender. This information helps you plan your budget and narrow down the home you can afford.

Sign a Buyer Rep. Agreement With a REALTOR®

A Buyer Rep. agreement confirms that your agent will work on your behalf to find and negotiate on properties you’re interested in. Generally, it doesn’t cost the buyer anything to use an agent’s services.

Get Setup to Receive Free MLS® Listings

Our team will set you up to receive automatic updated listings from the MLS® service that meet your budget and listing preferences. You’ll receive updated listing 24 hours in advance of the listings being publicly published online.

Arrange to View Homes with Your REALTOR®

Your agent will send you listings they feel are important to you so when you find one that you’re interested in, make an appointment to view it with your agent as soon as possible. Your agent will book a showing at a convenient time so you can look around the property and see if it’s a good fit for you. Any issues you may find will be noted and if you really like a place, your agent will book another showing a few days later or advise you to put in an offer.

Put in Your Offer on the House or Condo

When you have finally decided to purchase one of the homes you’ve viewed, your REALTOR® will draft an offer on your behalf and send you the relative papers that need to be signed. Your agent will come up with an offer that works for you and the seller. If your offer is not immediately accepted your agent will negotiate for you to come to an agreement that is mutually acceptable.

Pay Your Deposit on the Home

After your offer is accepted by the seller, you will have to pay a deposit to the seller in the amount they stipulate. The deposit shows the sellers that you’re truly serious about buying the property and it goes towards the sale price of the home. The deposit helps assure the sellers that you won’t back out of the deal before closing day and if you do it will be forfeited.

Fulfill Any Conditions on Your Offer

Much of the times, offers to purchase a home are made with conditions. Some of these conditions include obtaining financing, or having an inspection done on the home. You must fulfill any of the conditions before the house can officially be yours.

Sign All the Final Paperwork

Prior to closing day you’ll make an appointment with your lawyer to sign all the final paperwork and ensure everything is ready to go with the sale. Your real estate agent will guide you through this process and make sure everything runs smoothly.

Obtain Your Keys and Move In

On closing day your lawyer is going to transfer the money from your bank account into the account of your sellers and after this exchanged you will be able to pick up the keys and start moving in.

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