Step By Step Guide Of Buying A Home

Step By Step Instructions On How To Buy A Home

Early Stage 1

At this stage you are shopping around on Realtor.com, realtor.ca, Zillow or one of the other multiple listing services. You do not have a realtor yet and are not yet serious.

Early Stage 2

You see something that peaks your interest and maybe view some show homes or open houses, During this stage you may meet a realtor.

Early Stage 3

Everyone is suggesting you should get preapproved so you get a realtor to refer you to a good mortgage broker or you find one online.

Recommendation: You should always get approved for a mortgage first before you go shopping to avoid disappointment, wasting time and wasting money. You really want to shop with confidence and know that you will be able to complete a transaction.

Step 1

Contact your mortgage broker or me! 780-278-4847

We will have an initial conversation about your mortgage goals and I will get an understanding of what you require.

Step 2

I will text or email you a mortgage application to fill out.

Please ensure you fill this out with as much detail as you can, so that I can get all of the information I need to get you approved.

Step 3

Once you fill out our application, you will be prompted to upload some documents. Some of these documents will include your employment letter and pay stubs!

You can also email these documents, or drop them off at our office.

Step 4

Once you have sent in your documentation, I will call you to discuss and write you a preapproval letter. This letter will state how much you are approved for based on the down payment you have!

Step 5

You actually go shopping for a home, you explain what you are looking for to the realtor of your choice and they will email you some properties. Let them know which one you would like to see and when, they will book appointments to view.

Step 6

You choose a property and place an offer on it. Normally you will request an inspection and a certain amount of time to get your firm financing in place by. This is called a condition and conditions have dates that they need to be done by. Failure to remove a condition by the date specified will result in you forfeiting your interest in the property.

Step 7

The sellers accept your offer, you are now in the PENDING stage! Congratulations, have your realtor email me the offer and mls.

Step 8

At this point I will start searching for the lowest rate for you.

Step 9

1-2 Days later, I will receive an approval through my internal system and I will send it to you for signing. I will contact you by phone to go through the approval.

Step 10

You sign the approval, and we send this in to your new bank with all of the required documents.

Step 11

The bank will then send us something that says all conditions satisfied, and we instruct you to remove your financing condition.

Step 12

You will book your inspection and appraisal if required. The reason I place this step here is so that you save money on the inspection if the financing does not get approved. Some agents will push you to do the inspection right away. This is wrong and should be avoided.

Step 13

If all goes well in the inspection and appraisal, your realtor will have you sign the condition removal and will email this to us.

Step 14

We will instruct your lawyer, and they will call you to come in and do the final signing.

Step 15

You sign off and take possession of your new home!

Step 16

Book the movers and move into your new house!

Thanks for reading!