The thought of purchasing a home – especially if you’ve never done so before – can be overwhelming. The process can be complex. While representing one of the largest investments you will make in a lifetime, this decision should not be taken lightly. Nicole will put your mind at ease by educating you about what to expect. Looking after your best interests, she prides herself on being a complete resource for her clients in order to make your real estate experience rewarding and turbulent-free! Ask Nicole for a comprehensive guide outlining important steps in the process of purchasing a home. To kick-start your plans, check out the summary below for some helpful hints to get you moving
1. Mortgage Pre-approval. Understanding your finances is key, and obtaining a pre-approval from a lending institution should be an essential first step in your plans. Not only should you have a clear sense of how much money is available to you from a lender, but you should be aware of where your comfort level lies when it comes to your mortgage payment and lifestyle/expenses relative to your income and debt load.
2. Ensure you have a Realtor looking out for your best interests as you begin your house hunt. Call Nicole to discuss how a Realtor can simplify your search, and ensure you are well-represented through the process of purchasing your home. From unbiased feedback, to experienced input, Nicole prides herself on informing and educating her clients so they can make a sound and responsible decision. Not only will Nicole offer you professional advice along each step of the way, she will provide an edge to your search, allowing you to see properties before they’re available to the general public, as well as help you navigate the negotiating process in an effective and competitive way.
3. Consider your ‘wish-list‘ to decipher what type of home will suit your needs best. There are plenty of factors to consider… Proximity to amenities? School zones? Room to grow? Resale potential? Fixer-upper? Ensuite? Garage? Every consumer brings a unique perspective to the process and should carefully think through their ‘wants’ and ‘needs’ while being realistic about how their budget fits into the equation. Nicole will help you identify important features to be mindful of, perhaps some you may not have thought of yourself! You can trust that when it is time to make a decision, you will be informed, educated, and aware.
4. Begin reviewing listings that match your search criteria via a customized Buyer search. This will provide an aggressive way for you to explore the market from the comfort of your home. Perusing available inventory that is emailed to you as soon as it hits the market will begin educating you on what is available, prices relative to location, and other important trends within our marketplace. Of course, Nicole will be available to provide feedback and offer insight on particular properties that catch your eye.
5. Start Shopping! Once you have a green light from your lender, and a comfortable sense of your budget, you can begin visiting properties that may be of interest. Don’t worry about touring a few properties that might not be a good fit – seeing a few ‘duds’ firsthand will help you to feel confident when the right fit comes along.
6. Negotiate a contract. Once you have found a home to purchase, deciding to submit and offer is an exciting step. Committing to the process might make you nervous, but Nicole will guide you through the Agreement of Purchase and Sale – from establishing a reasonable price to including the appropriate terms and conditions. This contract is a lengthy document outlining the terms of ownership transfer. It is full of legal language, but Nicole will ensure you are well-informed each step of the way.
7. Once your Agreement of Purchase and Sale is firm and binding (when the conditions have all been fulfilled), your lawyer will become involved to begin the legal transfer of the property. Many documents are required and a long list of tasks must be completed before the keys to your new home land in your hands. Nicole can happily refer you to a lawyer who will help you get the job done.
8. Set up Utilities and prepare your move. Nicole will provide all the necessary contacts to simplify your to-do list when it comes to activating accounts with your service providers and ensuring your address will be properly updated.
9. Sign off on insurance, financing and legal documents. As your closing day approaches, you will need to ensure your business is in order so the transaction will be completed smoothly. Confirming that your insurance is in place is vital. A meeting with your lender to tidy up your paperwork is also essential so that a bank draft will be forwarded to your lawyer by closing day.
10. Congratulations – it’s time to move in! Whether you have renovation projects in mind, or fresh paint to make your mark, collecting the keys to your home is an exciting milestone. It is Nicole’s hope that you will enjoy the space you purchased. Of course, Nicole is always just a phone call away with any questions you may have along the way pertaining to resale value, recommended service providers for your renovation projects, and any other real estate related inquires.