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Step 1 - Get Pre-Qualified for a
mortgage
The first step in obtaining a mortgage is the application stage.
You will need to meet with a mortgage broker to
discuss the amount you are qualified to
purchase. I have an excellent mortgage broker in
my team that can help you determine your qualification
and assist you with the paperwork . |
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Step 2 - Search for a home
With a pre-approval in your hands, the next step is to shop for a home. You need to contact a real estate buyer's agent such as myself. I have access to more properties than you do. In addition, I can provide the expertise to help you negotiate the best price and terms since I have access to market information. Lastly, there is no cost to using my service since I are paid by the seller. |
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Step 3 - Home inspection
The property needs to be inspected by a
certified home inspector. A home inspector
will view the home and provide you with a
written report on the condition of the
home. If you do not have a home inspector,
I can refer you a competent home inspector. |
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Step 4 - Subject removal
Most purchase contracts will have conditions (or
subjects). The most common subjects are
"subject to a satisfactory home
inspection" or "subject to obtaining
financing". You will have a certain
number of days to "remove" these
subjects. Once subjects are removed, you
have a binding contract and you must complete the
transaction. I will discuss the process in
more detail when we get to this point.
Step 5 - Completion
This is when title is transferred to your name and
funds are paid to the solicitor. I can refer
you to a competent lawyer or notary who can assist
in completing the transaction |
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