{"id":7873,"date":"2018-01-12T11:11:44","date_gmt":"2018-01-12T19:11:44","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=7873"},"modified":"2018-01-03T10:35:20","modified_gmt":"2018-01-03T18:35:20","slug":"the-home-buying-process","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2018\/01\/the-home-buying-process\/","title":{"rendered":"The Home Buying Process"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>1. Choosing an Agent<\/strong><\/p>\n<p style=\"text-align: justify;\">Picking the right real estate agent is crucial to making your home search a success.<\/p>\n<p style=\"text-align: justify;\">Your agent should be experienced, full-time, and always put you first. Your agent should consistently search for new listings to show you, act as a voice of reason while giving you advice, and expertly negotiate to get you the best deal.<\/p>\n<p style=\"text-align: justify;\">You should interview potential agents and ask about their experience and service, and obtain references from previous clients. Once you\u2019ve chosen an agent, sign a buyer\u2019s representation agreement to get started.<\/p>\n<p style=\"text-align: justify;\"><strong>2. Research and Plan<\/strong><\/p>\n<p style=\"text-align: justify;\">Research what you need, want, and can afford\u2014from your housing costs to closing costs. Consider your current budget and lifestyle, and how they might change in the next five years.<\/p>\n<p style=\"text-align: justify;\">Things you should consider :<br \/>\n\u2022 Your ideal home<br \/>\n\u2022 Your preferred neighbourhood<br \/>\n\u2022 Your budget<br \/>\n\u2022 Your savings for your downpayment<\/p>\n<p style=\"text-align: justify;\">Work with your agent to :<br \/>\n\u2022 Walk through the process so there are no surprises<br \/>\n\u2022 Determine your future needs<br \/>\n\u2022 Discuss neighbourhoods and housing types that meet your needs and maximise return on investment<br \/>\n\u2022 Connect you with a reputable mortgage broker<\/p>\n<p style=\"text-align: justify;\">You&#8217;ll want a mortgage broker early in the home buying process. They will help you by :<br \/>\n\u2022 Giving you a pre-approval with the maximum home price you can afford<br \/>\n\u2022 Locking in an interest rate for 90\u2013120 days<br \/>\n\u2022 Helping you get the mortgage that best meets your needs<br \/>\n\u2022 Head to our mortgage centre for even more in-depth information\u2014from getting pre-approved to mortgage terms and conditions.<\/p>\n<p style=\"text-align: justify;\"><strong>3. Find a Home<\/strong><\/p>\n<p style=\"text-align: justify;\">Based on the criteria you gave your agent, they will hand-select homes for you to view. While you should see homes quickly, as they can be scooped up in popular neighbourhoods, you should also be viewing homes carefully to determine whether or not they suit your needs. Also, keep in mind that listing photos can be deceiving, so viewing them in-person is very important.<\/p>\n<p style=\"text-align: justify;\">Spend time in neighbourhoods you\u2019re considering, to be sure they\u2019re right for you. View all homes that your agent has suggested, based on the criteria you\u2019ve given them, because your agent has more experience viewing homes and can find hidden gems that will surprise you.<\/p>\n<p style=\"text-align: justify;\"><strong>4. Make an Offer<\/strong><\/p>\n<p style=\"text-align: justify;\">When making an offer, there are many terms to consider. For competitive markets you will need to be strategic about which conditions to include, and you may need to move quickly to submit an offer. Having a plan can help you be prepared to negotiate on your terms.<\/p>\n<p style=\"text-align: justify;\">While making an offer, you have to :<br \/>\n\u2022 Name your price and terms<br \/>\n\u2022 Understand your current and future financial position<br \/>\n\u2022 Be ready to make a firm offer when required<\/p>\n<p style=\"text-align: justify;\">Your agent will :<br \/>\n\u2022 Analyze comparable properties with you<br \/>\n\u2022 Work with your mortgage broker on a financing plan and risk assessment<br \/>\n\u2022 Advise you on how to reach your desired outcome in the current market<br \/>\n\u2022 Present your offer to the listing agent or seller<br \/>\n\u2022 Negotiate the best deal for you<\/p>\n<p style=\"text-align: justify;\">Your mortgage broker will also confirm whether you can get financing for your chosen property and price.<\/p>\n<p style=\"text-align: justify;\"><strong>5. Closing the deal<\/strong><\/p>\n<p style=\"text-align: justify;\">The final steps can be overwhelming and tedious but they are important and time-sensitive. Each person plays an important role, including your real estate lawyer.<\/p>\n<p style=\"text-align: justify;\">You will :<br \/>\n\u2022 Visit the home a few days before close for a final inspection<br \/>\n\u2022 Purchase home insurance<br \/>\n\u2022 Sign legal documents<br \/>\n\u2022 Pay closing costs and down payment (less deposit) via your lawyer<\/p>\n<p style=\"text-align: justify;\">Your agent will :<br \/>\n\u2022 Arrange and attend your final home visit<br \/>\n\u2022 Help you arrange insurance, lawyers, movers, utilities, cable, and anything else you need<br \/>\n\u2022 Handle any issues that may come up that risk closing<br \/>\n\u2022 Begin planning your budget for monthly carrying costs<\/p>\n<p style=\"text-align: justify;\">Your mortgage broker will :<br \/>\n\u2022 Discuss mortgage insurance options<br \/>\n\u2022 Remit mortgage money to your lawyer<\/p>\n<p style=\"text-align: justify;\">Your real estate lawyer will :<br \/>\n\u2022 Explain legal documents to you<br \/>\n\u2022 Conduct title search and purchase title insurance on your behalf<br \/>\n\u2022 Handle fund transfers<br \/>\n\u2022 Register the property in your name and hand you your keys!<\/p>\n<p><a href=\"https:\/\/www.zoocasa.com\/education-centre\/buying\/home-buying-process\" target=\"_blank\" rel=\"noopener\">The Home Buying Process<\/a> by Zoocasa<\/p>\n","protected":false},"excerpt":{"rendered":"<p>1. Choosing an Agent Picking the right real estate agent is crucial to making your home search a success. Your agent should be experienced, full-time, and always put you first. &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/the-home-buying-process\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-7873","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Home Buying Process &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2018\/01\/the-home-buying-process\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"The Home Buying Process &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"1. 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