Buyers Check list

1. Find a local Realtor.

2.  If not already pre-approved, find a Mortgage Broker or go to your bank to start the pre-approval process. By the end of this process you should feel comfortable with:

  • pre-closing costs; including a home inspection, well or septic inspections.
  • closing costs (includes legal fees, land transfer tax, moving expenses)
  • initial cash layout (deposit & down payment)
  • if first time home buyer- RRSP options (discuss with your mortgage broker)

3. Based on your feedback from the bank/mortgage broker, establish a budget for your next home that you are comfortable with.

4. If you have a home to sell, establish if you would prefer to buy and then sell or vice versa. (your Realtor can also advise you on this depending on the market).

5. Establish your wants and needs. (school districts, size/type of home or lot, age of home, special features like a pool or ravine, finished basement).

6. Establish an area that would work for you in terms of commute, proximity to shopping, walking distance to amenities).

7. Review all the legal documents with your Realtor well in advance of finding “the one”. Ask any questions you may have prior to placing offers. This will also help get you familiar with the process when you do find the right home.

8. Lawyer: if you don’t have one, ask for a recommendation.

9. Your offer has been accepted. You will need to take the following steps:

  • deposit will be due within 24 hours
  • if doing a home inspection, have this booked asap.
  • forward all documentation to your bank or mortgage broker so they can
  • get the approval process done in time.
  • Firm up the deal within specified time according to the agreement.

10. If renting, make sure to give sufficient notice as per your rental agreement.

11. Book a mover.

12. Contact utility/cable/internet companies to have your name put on contract.

13. Contact your insurance company.

  • Send out change of address cards as necessary and/or set up forwarding with Canada Post.