Our comprehensive guides to buying residential, commercial and multi-family properties will help guide you in making one of your largest investments. Our team of qualified real estate agents have the experience and knowledge to help guide you through the entire real estate process.
The first thing you should consider when you’re thinking about buying a home is how much you want to spend. Speaking with a mortgage professional and getting a pre-approval can help you to identify all the potential costs involved in your purchase. This allows us to focus our search on properties that we know are going to be within your comfort zone. Being prepared and knowing what paperwork you may need to provide will go a long way toward helping us to meet your financing condition on time. The second thing you will need to consider is where you want to buy and what kind of home you are looking for. Schools are always a consideration for families in Alberta.
Being close to recreation and the mountains is a common one. Do you want a detached home or do you want a semi-detached home? Or maybe you’re looking for a townhouse. Are you interested in a unit with condo fees and how does that fit in your overall cost? All these factors can help you zero in your search so that we can find a home that will fit your dreams. Finally, we set you up on a tailored, automated search that will automatically send you homes as soon as they hit the MLS system that fit within your criteria.
Now it’s time to start looking at homes. We’ll arrange showings for any properties that pique your interest or fit what you’re looking for. Through this collaborative process, we help narrow down exactly what you’re looking for. We can also attend open houses and show homes together so that you get a good sense of the market as a whole. We will sign an exclusive buyer representation agreement which outlines our contractual relationship, our professional responsibilities and obligations to you as our client, and it clarifies how we get paid for a completed transaction.
It also outlines your rights and responsibilities as our client.
Once you’ve found that perfect home for you, it’s time to do some research and write an offer. This can be done in person or electronically. In the offer, we include the purchase price, the closing date, the deposit, and any additional conditions and term. The deposit is typically held in trust by the listing brokerage and forms part of the overall purchase price. This deposit will be refunded to you in the event that you are unable to meet your conditions. Generally speaking, we’ll want to discuss including conditions like financing, home inspection, and a condominium documentation review
if applicable. If after any counter offers or negotiation the seller chooses to accept your offer, you have a conditional sale. We can send a copy of the signed condition to your mortgage broker to initiate the financing condition. Meanwhile, we’ll work with you to satisfy any outstanding conditions.
We will work together to satisfy any conditions. A financing condition is completed by your bank or mortgage broker. A mortgage commitment letter is often prepared for you and states that you are now able to waive your financing condition. We can suggest a home inspector if you don’t have anyone in mind. A home inspection typically takes between two to three hours depending on the size of your property. They check for any potential issues or code violations and can answer any questions you may have about the property. If a serious or unexpected issue comes up during the inspection, we have the option to either renegotiate with the seller to a resolution that’s satisfactory to all parties.
Or, if we’re unable to come to a resolution, you may terminate your contract with your deposit being refunded in full. Once you are satisfied with your due diligence, we sign a Notice of Waiver to remove any conditions, and your sale is now considered firm.
Congratulations, you have a firm sale. We’ll convey all your purchase documents to your chosen legal representation. As they work to prepare your closing documents, this is the time that you’ll want to start shopping around for home insurance and your utility connections. Within 24 to 48 hours of closing, we arrange a pre-possession walkthrough. This allows us to ensure that a property is substantially the same condition as when you purchased the home. We check to make sure that the appliances are all in good working order and any additional terms such as repairs or cleaning have been completed.
If you are arranging for professional movers, cleaners, or any contractors to come in once you’ve taken possession of the home, it would be prudent to schedule them for the business day following your possession date. Why do we do this? Closings can sometimes be delayed for a variety of reasons. When your closing funds have been received by the seller’s lawyer, we will notify you to arrange keys to access your new home.
Congratulations!
With years of experience helping local home Buyers and Sellers just like yourself in Cochrane and Calgary, Alberta, we know how to find the finest real estate properties and help you negotiate the best rates.
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504 1st W Cochrane, AB T4C 1B3
Box 1242 Station Main Downtown, Cochrane, Alberta
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