Step-by-step Buying Process

1. Contact your sales representative.

2.Conduct an in-depth analysis to determine the price range of the property that would suit you the buyer.

Recommend you be pre-qualified for mortgage financing. More information on “What can I afford?” and “Introduction to Mortgages”.

3. Review the features and amenities you desire in a home.

4. Select the most desirable properties in your price range selected from our extensive inventory of available properties:
a) MLS Sort and Select process.
b) Estimated closing costs.

c) Familiarization with the Agreement of  Purchase and Sale.

d) Process of negotiating an offer.

5.Pre-selection process for desired homes and arrange for showings:

a) Show properties and obtain feedback from buyer.

b) When you have selected the home you want to own, we prepare an Agreement of Purchase and Sale.

6. Engage in the process of negotiations with the seller (sign-backs, change of terms).

7. When the Agreement of Purchase and Sale is accepted by the seller, the property is sold:

a) the buyer gives feedback to the agent if they are satisfied.  If so, get an endorsement and referral.

b) Copies of Agreement of Purchase and Sale go to the buyer's and seller's solicitors.

8.If a mortgage is required, we can assist in the mortgage application and approval process up to obtaining a mortgage commitment from the lending institution.

9. When the transaction becomes a binding agreement, the buyer's solicitor searches title to determine:

a) Outstanding work orders issued by the municipality.

b) An accurate description of the lawful use of the property.

c) Restrictions as to the insurability of the property.

d) Encumbrances, liens, easements, restrictions, encroachments or other claims registered on title (e.g. undisclosed mortgages, right-of-ways. etc.)

10. Buyer's solicitor makes requisitions to the seller's solicitor within the pre-determined date set out in the Agreement of Purchase and Sale.

11.Buyer’s solicitor verifies financing commitment with the lending institution.

12. When all searches are satisfied, the solicitors arrange with lenders for the transfer of funds.

13. Buyer arranges insurance coverage from the date of closing.

14.Buyer's solicitor contacts the utility companies and the tax department to determine amounts, if any, in arrears for closing adjustments.

15.Buyer and seller meet with their respective lawyers to review and sign closing documents (mortgage, deeds, declarations, undertakings, etc.). See also “Introduction to Mortgages”.

16.Lawyers for both parties meet on the date of closing to exchange documents, funds, keys, and register all documents on title. For more information on closing costs see “Cost when buying a home”