WHAT TO EXPECT WHEN BUYING A HOME OR PROPERTY
During the buying process and beyond it is important to keep the lines of communication open. Don’t hesitate to contact us. TEAM THOMSON is here for you every step of the way to make your buying experience the best possible one. It is our pleasure and honour to work with you during such an important and exciting time and we look forward to helping you in the future. Here are the steps outlined to guide you through the process.
PLEASE NOTE: These steps are guidelines. There may be other circumstances specific to the buying of your home. We are here to help you with those issues and if not direct you to someone who can. This may include things like zoning permits, building questions, tenancies, non-Canadian residencies, power of attorney and tax related questions.
- Meet with us and begin the home/property buying journey knowing you have our commitment to service excellence as we always strive to exceed your expectations.
- Attend a Lifestyle Consultation to determine your needs, wants and expectations. Then together we develop the most advantageous strategy to find a home or property for you, based on those needs, wants and expectations.
- If you do not already have a mortgage broker, we will assist you in finding one.
- Pre-qualify for financing your home purchase so you know exactly what you can afford.
- We show you homes and neighbourhoods, until we find your ideal home or property.
- Sign the Purchase and Sale Agreement.
- We negotiate to secure the home or property at the best price with a closing date that works for you.
- Provide deposit monies in the form of a certified cheque or bank draft unless otherwise specified.
- If a condition of the agreement, conduct a home inspection within the stated time limits.
- Finalize financing with your lending institution.
- If you are purchasing a property with a condominium fee, all documentation regarding the corporation will need to be acquired and reviewed by your lawyer.
- All conditions as applicable on the Agreement of Purchase and Sale will be waived or amended as required and you will receive copies of all signed paperwork for your files. Congratulations, your deal is done.
- The Agreement of Purchase and Sale and all accompanying documentation (waivers, amendments) will be forwarded to your lawyer and your lawyer will review all documentation.
- Make contact with your lawyer, they most likely will have a check list for you and they may require a retainer.
- The lawyer and the bank will review the agreement.
- Start packing and book movers.
- Contact all utility, phone cable companies, post office and alarm service providers to advise them of your moving date.
- Schedule an appointment to sign closing documents with your lawyer.
- Contact a home or property insurance company and arrange to have the property and home insured beginning on the day of closing.
- Contact the bank to ensure everything is in order for the mortgage of the property.
- Closing day- you will need to meet with your lawyer to sign all documentation. Government Photo ID will be required to take possession of your home or property. Keys will be provided at the time of signing and the lawyer will require the balance of the funds. This may take place as late as 5 p.m.
- You may be able to access the home immediately after signing and receiving the keys however the Agreement of Purchase and Sale stipulates that you are allowed access to your home or property as of 6 p.m. on the day of the closing.
- Let us know once you have settled in as we would love to see how you have made your new house a home.