The process of buying a home can be overwhelming! Even if you're not a first time buyer, there are many small (but significant) details that are easily overlooked in the process. Primeau & Co. has you covered! Outlined below is the process from start to finish, including a list of useful tips. As always, if you're ready to start your home search, contact our professional team. We can't wait to help you live your life beyond the keys!
Choose a licensed mortgage broker to work with and get pre-approved before starting your search. This is a crucial step in the process because knowing your budget will help you narrow down your search. It's also likely that unexpected details could arise during the financing approval process and it's best to deal with these items beforehand so you don't risk losing out on your dream home due to being unprepared!
Working with a licensed Realtor® is a great decision because they will negotiate the best terms and price possible in your purchase contract. It's important to have your own Realtor® who will represent your best interests during the transaction right from day one. During this time it's crucial to discuss the terms of your exclusive buyer representation agreement and the consumer relationship guide. A licensed Realtor® is also able to send you properties that match your search criteria as soon as they are listed so you don't miss out on your perfect property!
Narrow down your home search by determining what your "must-haves" are in your new home. Send this list to your Realtor® so they can find you suitable homes that meet your criteria and are within your budget. Pick homes to view from this list. Schedule a time with your Realtor® to view the homes that you've selected and start shopping!
Once you find your perfect home, discuss the offer and terms with your Realtor®. Don't forget to discuss things like material latent defects, unattached goods, RPR, and any other concerns you might have. Sign the paperwork and have your Realtor® present the offer to the seller or their agent. Negotiate the terms of the offer with the sellers and you have a pending contract!
Schedule and attend a home inspection with a licensed property inspector. Discuss any inspection findings with the home inspector and your Realtor®. Gather all necessary paperwork for your mortgage broker to finalize your financing approval. Plan to remove any other conditions that are in the offer.
When ready, remove conditions. Upon satisfaction of conditions, select a lawyer to represent you in the purchase and contact them to schedule a meeting to sign the paperwork. The real estate offices will convey all necessary paperwork to your lawyer's office.
Purchase a home insurance policy. Set up or transfer all necessary utilities - including natural gas, electricity, water, town/city taxes, internet/cable, etc. Schedule a moving van and movers, and cleaners to complete a move out clean of your current property, if you require them. Register your pets if you're moving to a new town. Update your information with the post office, your doctor's office, your child's school, your bank, and anywhere else that maybe require your new address.
The final funds should be sent and keys should be released by noon or early afternoon on closing day. Arrange to meet your Realtor® at the property and do a walk through of the home. Receive your keys and start loving your new home!