Buyer Action Plan
Take the next steps to buying a house.
Our comprehensive list of tasks below will help you get started with buying a new home
- Discuss financing options and affordability
- Discuss costs associated with purchasing a home
- Determine your needs and preferences in a home
- Review types and styles of houses
- Review areas and districts that fit your needs, wants, and affordability
- Search the MLS system to locate homes within parameters determined.
- Apply to lending institution, you require
- Letter of employment confirmation
- List of your assets
- List of your liability
- Social Insurance Number
- Checking Account Number
- Lawyer contact information
- Lender will confirm maximum mortgage they will loan you; or determine the size of mortgage based on the payments you are comfortable with. These are generally determined using two lending principles
- Gross Debt Service (GDS) – which means your housing cost should not exceed 32% of your gross family income
- Total Debt Service (TDS) – which means that your monthly debts should not exceed more than 40% of your gross family income.
- Together we write your “Offer to Purchase” with price, terms, conditions, possession date, and chattels (what’s included) that will be proposed to the seller
- A deposit check must accompany the offer
- We will meet with the sellers and their Realtor to negotiate on your behalf the differences you and the seller may have until an agreement is reached. We will be in constant contact with you through these negotiations and will follow your instructions
- Sometimes the sellers can counter offer, at this time flexibility goes a long way
- While working with you, we provide objective, experienced advice
- We provide you with a signed copy of the accepted offer
- Satisfy and remove by a notice any buyer’s conditions on the “Offer to Purchase”. These include the following:
- Subject to financing approval
- Subject to home inspection
- Subject to any other condition in offer
- Upon removal of conditions, the house is considered “SOLD” to you pending the exchange of funds and transfer of the title on the agreed possession date
- We are available to guide you through all the details
- Arrange for insurance coverage on home
- Arrange for gas, utilities, telephone, and cable/TV
- Meet with me to inspect the property and take possesion on closing date prior to
Ready to get started? Great. Fill out the form and we will get right back to you within 24 hours.
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