The first step to buying a home is to understand your buying power and establish a price range. A licensed lender can help evaluate your financial standing and provide a pre-approval. They will review your income and credit history to determine how much the bank will lend you, which will help you determine the price range for your search. Having a pre-approval letter in-hand can also increase the attractiveness of your offer, particularly when a seller has multiple offers to choose from. Please reach out for a list of lender recommendations.
The Buying Process
Buying a home can be an exciting and emotional experience. As a local expert, you can rely on me to guide you through the process so you can feel comfortable and confident each step of the way.
1. Get Pre-Approved
2. The Home Search
You can start your search for the perfect home right here with up-to-date MLS listings in your favorite neighborhoods. Create your free account to save your favorite properties, request showings and more! As your REALTOR®, I will also search for homes on your behalf. When you find a home that you like, we'll schedule a showing tour for you to preview the property in person.
3. Making An Offer
When you're ready to move forward with a purchase, we will discuss work together construct the strongest offer possible. From there, I will draw up the necessary paperwork on your behalf. There is a lot to consider when making an offer. We'll discuss the purchase price, the closing date, sale conditions and any special stipulations for your particular purchase. Once an offer is submitted, the seller may accept, reject or counter the offer. If the seller returns a counter, we will enter a negotiation period until an agreement is reached, or the offer is rejected by either party.
4 Under Contract
If your offer is accepted, you will be officially under contract. The purchase will not be complete until closing, but the home cannot be sold to anyone else while the contract remains in effect. At this point, unless you are making a cash purchase, it will be time to make an earnest money deposit and secure your mortgage loan. Lenders offer a wide range of loan programs, so it's important to work with a lender you trust to help you determine the best loan for your specific circumstances. We will also move through other conditions, discussed next.
.jpg)
5. Home Inspection & Other Conditions
Inspecting the physical condition of your next home is a vital part of the home-buying process. A licensed home inspector will conduct a comprehensive evaluation of the entire property and report any problems with the condition of the home's structure or systems. The inspector will also investigate potential issues such as pest infestations or mold. Depending on the purchase agreement, we may enter additional rounds of negotiation to resolve any problems discovered during the inspection. We will also work through other conditions together such as insurance, septic inspection and others.
6 The Final Walk Through
Prior to closing, we will conduct a final walkthrough of the home to ensure that all negotiated repairs have been completed, and that the home is in the same (or better) condition as when the original offer was made. This is the final opportunity to call out any problems identified with the home before closing. This is typically completed on the day before or day of closing.
7. Closing!
Time to celebrate! Your lender will provide a final closing disclosure that summarizes the loan terms, monthly payments, taxes, and other costs associated with the closing. They will also confirm that you are clear to close, and you will sign all of the paperwork required to complete your purchase and loan agreement. Once the paperwork is signed by all parties and your loan is funded, you will receive keys, and you'll be ready to move into your new home!
.jpg)
Location
161 Maypoint Rd Suite 4
Charlottetown, PE, C1E 1X5
