Step By Step Guide To Buying A Home!
3 Easy Steps To Buying A Home!
STEP 1 - GET EDUCATED
| 1. First Time Home Owner
You will need 5% of the purchase price saved to obtain a mortgage, getting pre-approval helps to find what price range you can be looking in. Give your Bank or a Mortgage Broker a call and get a pre-approval done. Once you have your pre-approval in place, we then start looking for your perfect home within the area and price you want. I’ll set you up on a new homes alert that matches your search criteria, so you won’t miss any new homes that might work for you
2. Home Owner Looking To Buy A Bigger Home Once you feel you've outgrown your home, and need to purchase a bigger home there are hidden costs for you to consider. Contact your mortgage holder, find out what the pay-out penalty is, which sometimes can be considered unless your mortgage is up for renewal. They can also suggest options to port your existing mortgage over to your new home penalty-free, so they're your first call to find out the financial facts. You need to know if you must sell your home first or if you qualify for bridging financing to buy and sell later. |
Use The Latest Technology To Make Searching For Your New Home Easy!
STEP 2 - START THE SEARCH
We want to schedule a sit-down meeting, with your pre-approval in place we will go over your wish list of must-haves in a home. The real estate market is constantly changing and you must be aware of where you stand. Once you have assessed your situation, this is where you will express your goals and determine an appropriate action plan so you can confidently move forward.
This is when most of the excitement really starts to happen. You already know the type of home you're looking for and the price you can afford. A property search will have to be set up to notify you (typically via email) when a new property enters the market that matches your criteria. Once you have identified some potential properties, it's time to hit the pavement.
~New Listing Alert~
Get notified as soon as a home in the neighbourhood you love comes on the market.
Get Started!
I will supply you access to my free app CLICK HERE for iPhone or Android, which will provide an easy-to-navigate map for you to view homes while driving around neighbourhoods.
You Find A Home To Write An Offer On
STEP 3 - WRITE AN OFFER!
Once we find your dream home, the next step is to prepare and present an offer. There are several steps that have to be taken when you write your offer
Property Research – This is where I will supply you with the other recently sold homes compared to the home you want. This is where you will know what is the fair market price for determining your offer price.
Conditions – Conditions, are clauses in the contract that must be fulfilled in order for the transaction to even proceed forward. Typical conditions are for a home inspection, or for the buyer to be approved for financing. The buyer or seller is then given a few days to fulfill the conditions (typically 7 to 10 days). This is what is meant by a property status that is listed as pending (P) or conditionally sold (C/S). If something happens where either the buyer or seller is not satisfied with the results of their trying to satisfy their conditions, then they may walk away from the contract at no cost and with no further obligation (deposit cheques are returned). Conditions are most commonly for the buyer, but you may have a seller's condition as well.
Deposits – In order to write an offer, you will need a cheque and some available money for a deposit. This will depend on the price of the home how much you need, it is a show of good faith in the transaction and is fully refundable if the conditions on the purchase are not removed. After the conditions are satisfied and removed in writing, the deposit becomes part of the sale price/part of your downpayment, it's the seller's security that you will complete the purchase, and is non-refundable.
New Listing Alert!
Get alerted as soon as new listings come on the market in the area you want.
Fill out the form to get started.
INFO & SERVICES
CENTURY 21 Foothills Real Estate
Serving Calgary and Surrounding Areas
Office:
High River, AB
Okotoks, AB
Turner Valley, AB
Claresholm, AB
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