BUYERS

Buying your first home or your next home can be a very stressful process. I’m here to take away that stress and make it an enjoyable experience.
Here are the Steps I will be walking you through.

Contact Paul

Call: 778-551-1901
Visit: 116 – 4061 200th Street,
Langley, BC, V3A 1K8

Home Buying Process

Step 1 : Choose a home style and location (Wants and Needs)

What features are important to you? The layout, number of rooms, bathrooms, yard space? Proximity to work, schools, shopping, recreation centres, family & friends.

Step 2 : Arrange pre-approval

Book an appointment with your financial institution or broker to get your pre-approval. If you don’t have a Broker I have relationships with some very good local Brokers I can introduce you to.

Book an appointment with your financial institution or broker to get your pre-approval. If you don’t have a Broker I have relationships with some very good local Brokers I can introduce you to.

Step 3 : Organize showings, gather information on the listings

This is when the excitement begins. You know the type of home you’re looking for and the price you can afford. Property searches will 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 book appointments view the properties.

Step 4 : Prepare an offer with all the proper Subjects and Conditions

Once you have found a home that will suit your needs, 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 ResearchReview the selling history of the home and also where the price is relative to the market. To do this, an assessment of the current homes on the market and properties which have recently sold will be done.

TermsTerms are the clauses that make up the contract. These are the items that are agreed to and will be upheld, otherwise there is a breach of contract. In addition to the standard terms that will be reviewed with you when preparing the offer, you can add in whatever else you need, however, these are open for negotiation.

Subjects Subjects are clauses in the contract that must be fulfilled in order for the transaction to even proceed forward. Typical Subjects are for a home inspection, or for the buyer to be approved for financing. The buyer or seller is then given time to fulfill the Subjects (typically 7 to 10 days). Subjects are most commonly for the buyer, but you may have a seller’s condition as well.

DepositsAfter the Subjects are satisfied and removed in writing, the deposit is usually due 24-48 hours after all Subjects have been removed and becomes the seller’s security that you will complete the purchase (non refundable).

PriceThere are only two things that are negotiable in a real estate transaction, price and terms. Once you know what terms and Subjects you would like on the contract, and have completed your property research, you can now effectively determine the appropriate offer price. The offer price will be determined based on all the variables affecting this specific property. What terms do we need? How many offers are there? How long has the property been on the market? And many, many more. We will not be discussing negotiating strategy here, but remember this: What unique way can we meet the seller’s needs and still achieve our goals. This isn’t always strictly involving price.

Step 5 : Removing the Subjects

Send Documents to Bank/Broker and Lawyer/Notary, book inspection and review all documents that are to form part of the contract that need to be signed.
Once the necessary information is verified, a decision to proceed (or not) is made, and the appropriate written notice is provided to the sellers agent. Once the Subjects are removed, the sale is considered “firm” and the property will be marked “sold” for advertising purposes.

Step 6 : Preparing for possession

Typical possessions are 30 – 60 days, it may be quicker. . . much quicker. Get the following items completed as fast as possible, as this will alleviate a large amount of stress. Movers, Cleaners if needed, Insurance, Utilities, Mailing change.

Step 7 : Possession Day

On the possession day we can meet at the property half hour beforehand (usually 11:30am) for a complete walk through of the home. At this time, we will look around the home and make sure that everything is as it was agreed to be in the contract. The common things to look for are damage from moving, and things that don’t work when it was agreed upon that they would (appliances, furnace, etc).

Step 8 : Follow up

After a few days in the property you will receive a follow up call to ensure things are in order. Write down your questions so you will be prepared for the follow up call.

Paul McCallum Real Estate Aim Commit

Phone

778-551-1901

Location

116 – 4061 200th Street,
Langley, BC, V3A 1K8

Get In Touch

Interested in working with Paul? Contact us today and one of our agents will get back to you shortly.

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