The Home Buying Process

1. Choosing an Agent

Selecting the right real estate agent is crucial for a successful home search. Your agent should be experienced, full-time, and prioritize your needs. They should actively search for new listings, provide sound advice, and negotiate the best deals for you.

Interview Potential Agents: Ask about their experience and services, and request references from past clients.

Sign a Buyer’s Representation Agreement (BRA): This contract ensures your agent is legally bound to follow your instructions, maintain confidentiality, and provide honest advice.

2. Research and Plan

Understand what you need, want, and can afford—from housing costs to closing costs. Consider your current budget and lifestyle, and how they might change in the next five years.

Key Considerations:

Your ideal home
Your preferred neighborhood
Your budget
Savings for your down payment

Work with Your Agent to:

Understand the entire process
Determine your future needs
Discuss neighborhoods and housing types that meet your criteria and maximize ROI
Connect with a reputable mortgage broker

Mortgage Broker Assistance:

Provide pre-approval for the maximum home price you can afford
Lock in an interest rate for 90–120 days
Help you find the best mortgage options
Visit our mortgage center for more detailed information.

3. Find a Home

Based on your criteria, your agent will select homes for you to view. It's crucial to visit homes in person, as photos can be misleading. Spend time in prospective neighborhoods to ensure they meet your needs.

Tips:

View homes quickly to avoid losing out in popular areas.
Trust your agent's experience to find hidden gems.
For more specifics, including buying condos and pre-construction, read our guide on finding your home.

4. Make an Offer

When making an offer, consider various terms and be prepared to act swiftly in competitive markets.

Steps to Make an Offer:

Determine your price and terms
Understand your financial position
Be ready for a firm offer if needed

Your Agent Will:

Analyze comparable properties
Collaborate with your mortgage broker for a financing plan
Advise on market strategies
Present your offer to the listing agent or seller
Negotiate the best deal

Your mortgage broker will confirm financing for your chosen property and price.

Learn more about making an offer, including negotiations, conditions, home inspections, and bidding wars.

5. Closing the Deal

The final steps can be overwhelming but are crucial and time-sensitive. Each person involved plays an important role.

You Will:

Conduct a final inspection of the home
Purchase home insurance
Sign legal documents
Pay closing costs and down payment via your lawyer