IMPORTANT QUESTIONS
The Basics
What are your top priorities and must-haves in a new home?
What is your preferred location or neighbourhood for your new home?
What is your budget range for purchasing a home?
Are there any specific features or amenities you desire in your new home?
Do you have any specific timeline or deadlines for purchasing a home?
Are you pre-approved for a mortgage, and if so, what is your approved loan amount?
FREQUENTLY ASKED QUESTIONS
How do I know if I'm ready to buy a home?
Assess your financial stability, job security, and long-term goals to determine if homeownership is right for you.
What are the steps involved in buying a home?
The process typically involves assessing your finances, getting pre-approved for a mortgage, searching for a home, making an offer, conducting inspections, securing financing, and closing the deal.
Do I need a real estate agent to buy a home?
While it's possible to buy a home without an agent, having a professional on your side can simplify the process, provide valuable expertise, and help negotiate the best deal.
How much money do I need to buy a home?
The amount you'll need varies depending on factors like the home's price, your down payment, closing costs, and other expenses. Typically, you'll need a down payment of 3% to 20% of the home's purchase price.
What is a mortgage pre-approval, and why do I need it?
A mortgage pre-approval is a lender's commitment to lend you a specific amount of money based on your financial situation. It shows sellers that you're a serious buyer and can help you stand out in a competitive market.
What are closing costs, and how much should I expect to pay?
Closing costs are fees paid at the closing of a real estate transaction. They typically range from 2% to 3% of the home's purchase price and include expenses like loan origination fees, appraisal fees, and legal fees.
What type of mortgage is best for me?
The best type of mortgage depends on factors like your financial situation, risk tolerance, and long-term plans.
What should I look for when viewing homes?
Consider factors like location, size, layout, condition, and potential for future appreciation. Don't forget to assess the neighborhood, schools, amenities, and commute times.
Should I get a home inspection?
Yes, a home inspection is crucial for identifying any potential issues with the property, such as structural defects, plumbing problems, or electrical issues. It can help you make an informed decision and negotiate repairs with the seller.
10.What happens if my offer is accepted?
If your offer is accepted, you'll typically enter into a purchase agreement with the seller. From there, you'll proceed with inspections, secure financing, and prepare for closing.
11.What if my offer is rejected or countered?
If your offer is rejected or countered, you can choose to submit a higher offer, negotiate the terms such as possession date or which appliances are included in the transaction, or continue searching for other properties.
12.How long does it take to close on a home?
The closing process typically takes between 30 to 45 days from the time your offer is accepted. Typically the possession date is negotiated between the Seller and the Buyer.
