Buying a home is one of the biggest lifetime investments, both in terms of dollars and energy! That's why it is important for buyers to understand this process in order to make a wise decision. Calgary Home Team has developed a flowchart that identifies the major home buying steps:
- First, you should contact your real estate agent to determine your wants and needs such as your house style and requirements (size, bedrooms, amenities...), other factors to consider are work location, schools, shopping and public transit.
- Before you start any home search you should know how much you can afford, your real estate agent will direct you to mortgage professionals who can help you understand your financial options and get you pre-qualified.
- Then comes the fun part, looking for houses! Once you find the one you like, your agent will help you write an offer to purchase and present it to the seller. The seller has three options: 1. accept the offer, 2. reject it, or 3. counter it by changing the price, terms or both.
- When you receive the counter offer, you have the same three options that the seller has. At this stage It is very important to have a professional real estate agent representing you and maintain control of the negotiation process so you can make the right decision in what could be a very overwhelming process.
- If an agreement is reached, it is time to take care of many legal issues before closing day. Timing is an important factor here, as the mortgage documents should be processed and approved, a home inspection should be scheduled and done, not to mention the title search and home insurance. AGAIN, a professional real estate agent will help make this process smooth and hassle-free.
- Finally, the closing day! Meet with your lawyer to sign the papers, pay the down-payment and closing fees ( the not so fun part!!) and voila, you are now a proud homeowner, congratulations!!
Are you thinking of buying a home in Calgary? Visit our website for a wealth of information that will help you understand the home buying process. When you are ready to purchase a home or if you have any questions give us a call at 403-519-9102 or send us an email. We'd love to help you find your dream home and assist you with all your real estate needs.