11 Steps to Buying a Home
The Home Buying Process
With the current Real Estate Market, it can be difficult for buyers to know what to do and when. While the market for May has become slightly less competitive, it remains a record high since 2016.
To help buyers out, we put together a list of steps to take to make sure you are on the right track and on your way to purchasing your dream home:
- Decide to purchase a home: Make the decision to purchase a home when you are both financially and emotionally ready to do so.
- Get pre-approved: You can work with either your bank or a mortgage broker to find out what you need to be able to apply for a mortgage. Once you have been approved, this will help you determine how much you can afford to spend when looking for a new home.
- REALTOR ® Consultation: A RE/MAX agent will make things easier by guiding you through the process. They will help you discuss important things such as: price range, ideal locations, current market conditions and much more.
- Start your search: Your REALTOR® will find newly listed homes that meet your criteria and send the information to you. They will work with and for you to help you find your dream home.
- Current Market Conditions: Your RE/MAX agent will be able to help answer questions you might have about the homes you are interested in – and will be able to tell what a good deal is and when you should choose to walk away from it.
- Make an Offer: Your REALTOR® will help you write up a good offer – including subject clauses you want included – to make sure you get the best deal possible. They can even help negotiate the closing date that works best for you.
- Negotiate: It is not unusual to receive a counteroffer, so do not worry! Your RE/MAX agent will negotiate with the seller to ensure you get the best possible del for the house that you have fallen in love with.
- Accepted offer: Once you have got an accepted offer, things will start to get busy! Now you need to: Provide a deposit to put down on the home (Do not worry, this money goes towards the purchase of the home if all goes well!) as well as schedule an inspection, appraisal and financing approval.
This is a busy time, and it’s completely understandable if you are feeling a bit overwhelmed. Your RE/MAX REALTOR® will be there to answer any questions you have and calm your nerves if you are unsure about the next steps.
- Subject removal: Once all the inspections and other subject clauses has been completed, and everything has gone smoothly, it is almost time for you to sign on the dotted line and consider your new home yours!
- Official documents: You will need to provide your RE/MAX agent with a preferred lawyer or notary to have the official title transferred into your name. To do this, you will need to meet with the lawyer or notary in person to sign all the legal documents before you move into your new home. This typically happens a few days before you take possession of your new home.
- Move in!
11 Steps to Buying a Home
Congratulations, you have successfully purchased a home and are now officially a homeowner!
The date you previously agreed on is your move-in day and you can now move into your new home. Your RE/MAX agent will be there excited to hand you the keys.
With the exception of the first step, we are here to guide you through the entire process.
If you require specific information on property values please contact one of our REALTORS® or call (250) 751-1223.