The Buying Process
Our role is to ensure your buying process runs as smoothly as possible through constant communication with yourself, the seller and all other parties. For more details, please read on.
Step 1 - Establishing your Needs
The first step to finding the right property is to sit down to discuss your needs and wants. We will review the Disclosure of Representation in Trading Services form to discuss how we will be representing you. Once this is signed we will set you up on an online property search system which will notify you of any relevant properties as they come onto the market. At this meeting we can discuss various options to purchase, details of the initial deposit and recommendations for mortgage lenders.
Step 2 - Viewings
We are committed to providing the most flexible service possible meaning we will do our best to work around you in terms of viewing times. Once you have selected your wish list from the property search system we will coordinate a time for a tour of the properties. We will always be present throughout the viewing to answer any questions you have.
Step 3 - The Offer Process
Great news! You’ve found a suitable property and you’d like to make an offer. We will provide a market valuation of the property, comparing recent similar sales, to help you establish an offer amount. You will need to provide photo ID in person but all other paperwork can be done electronically, if needed.
Step 4 - Offer Agreed
If your offer is accepted by the Seller we will need the contact info for your mortgage lender and will assist you in fulfilling any conditions, for example:
- Subject to financing
- Subject to inspection
- Subject to receiving documents
Once these conditions are fulfilled we will sign the final paperwork removing these conditions from the offer and we will need the following:
- Deposit cheque (usually 5%)
- Lawyer or Notary name
You will now need to instruct your lawyer to proceed with the conveyancing process and your lender to proceed with your application.
Step 5 - Completion Day
Completion is when the residual monies (usually 95%) are transferred from your lawyer to the Seller’s lawyer’s account. On the day of completion we will be in communication and will notify you when the money is cleared and the home is registered in your name with the Land Title and Survey Authority of BC. As soon as this takes place, you become the legal owner of the property.
We will meet you at your new property on the possession day to check the home condition and deliver the keys.
Finally, Congratulations on your new home!