David Silletta’s 8 steps to purchasing a home!
Step 1: Get a Pre-approval
When you first decide you want to purchase a home, it is wise to get a pre-approved mortgage. The mortgage pre-approval will tell you how much of a mortgage you qualify for, ensuring you are looking at homes in your price range. I’m happy to refer a Mortgage Broker if you don’t know where to start.
Step 2: Choose a REALTOR ®
No need to look any further! I’ll walk you through the steps at a pace that works for you.
David Silletta REALTOR
RE/MAX Camsoun 250-888-6924
Step 3: House Search
Work directly with your REALTOR viewing homes that fit your criteria. It’s important to keep your budget in mind when looking online and attending open houses. If you decided to stop into an open house without your REALTOR, make sure to let the agent on site know who you are working with so they can provide info in a timely fashion to your agent.
Step 4: Make an Offer
Once you’ve found the home you are interested in, you make an offer! A due diligences period of about 10 days will be incorporated into the offer for: Subject to financing, Subject to inspection, and other important Subjects you and your REALTOR find important. Once the offer is accepted, you will provide a copy of the purchase agreement and property features to your Mortgage Broker.
Step 5: Mortgage Approval
Your Broker will work with the lender, insurer, and appraiser to get you a final approval on the financing. They may ask you for further documentation at this time, such as income verification and down payment verification. You will want to collect the requested paperwork and submit it to your Broker in a timely fashion. The faster you can provide the required documents, the faster you can remove your conditions and get ready to move in!
Step 6: Firm Sale
Once you have met all your conditions, and are satisfied, in consultation with your Real Estate Agent, you may choose to remove the conditions on your offer. Once all the conditions are removed, and your deposit cheque has been placed in trust, you have a firm sale pending possession. Instructions from the lender will be sent to your lawyer’s office at that time. Start planning your move…you just bought a home – congratulations!
Step 7: Final Signing With Your Lawyer
Your lawyer will call you in to sign documents, usually about two weeks prior to the completion date. The completion date is the day that the money is given to the sellers and the property is transferred to your name. It’s just a matter of time now! You’re almost ready to move in!
Step 8: Move In Day
Usually your possession date will be the day after the completion date. This is the day that you receive keys and can move into your new home!!
If you have any questions about my 8 step procedure, feel free to drop me a line or give me a call!
David Silletta. RE/MAX Camosun. 250-888-6924. firstname.lastname@example.org