Buying Process

Buying a property, whether it is a house, condo, recreational or investment property, is one of the largest investments you will make. As a buyer, it is important to fully understand the steps involved in purchasing a property. Mark will walk you through each step of the buying process from start to finish. Mark’s experience and expertise will make this process easy and enjoyable!

Initial Meeting

Deciding what you are looking for in a property is the first step in the buying process. For some people, this is straight forward, but for the majority of buyers, this can be overwhelming and daunting. Mark meets with you to help determine what type of a property will best suit your needs. It is useful to differentiate between the “must haves” and the “want to haves”. Importantly, as you begin the process, your criteria may change. A few key items to consider in thinking about your property needs are:

 

• Community
• Budget
• Property Size (total square footage)
• Number of Bedrooms/Bathrooms
• Age of Property
• Number of Floor Levels
• Parking

Mortgage Pre-Approval

Once you have decided on type of property you would like to purchase, the next step is to obtain mortgage pre-approval. Mortgage pre-approval provides valuable information to save you time and money. To get pre-approval, you can go to your bank or a mortgage broker. Mark’s years of expertise in mortgage finance can help clarify the details of the financing process and illuminate the various options.

 

Finding a Property

Going on “tour” is the fun step! Mark and his team of real estate professionals will carefully search to find a selection of properties that best suit your needs. As well, Mark previews properties on a weekly basis to check out hot new listings with your criteria in mind. Mark coordinates a “property tour” to view properties selected based on your feedback. Viewings are arranged to suit your schedule, this includes evenings and weekends. Often, more than one tour is required to find your perfect property.

 

Offer to Purchase

When you have found your dream property it is time to make an offer. Mark meets with you to carefully discuss the terms of the contract and strategize on price. Mark’s knowledge of the market, contract expertise, negotiating skills and excellent reputation are critical.

 

Offer Acceptance

Once the terms of the contract have been agreed and signed by you and the seller, the offer is accepted. Usually, there is a subject removal period of about a week to allow you time to arrange for items such as inspection, financing, bank appraisal, and title search.

 

Once subjects have been removed, you have a firm offer and a deposit is required. A deposit is typically 5 per cent of the purchase price however; this can vary depending on your purchase strategy.

Purchase Completion

There are a number of important legal and administrative items needed to complete your purchase. On completion day, you will meet with your lawyer or notary for the final sale completion which includes the transfer of funds and title, closing costs and insurance.

 

Moving Day

Yahoo!! You are ready to move. The date and time is the Possession Date on your contract. Mark’s team of real estate professionals arrange for the keys to your new home and ensure a smooth transition.