1. Pre- Qualify for a mortage.

This will help give you a good idea of what price range you should be looking at. Talk to your loan officer at your bank or any mortage center. Definitely shop around and look for your best interest rate. Remember you are under no obligation to deal with the first loan officer you meet.

2. Shop Around

After you have looked at different homes in your price bracket and have a good feel what is the best home for you. It is suggested to view the home on at least two occasions you will not see everything on one visit. On your second visit bring someone that is experience home buyer (family, friend, neighbor, etc.) Most people will be very willing to assist you such an important purchase.

3. Make an Offer in Writing

If you are serious about buying a particular property, don't make the mistake of presenting a ridiculously low offer. It will only upset the seller and make further negotiations very difficult. You want the seller to think you are serious and this will make the negotiations go a lot easier. It is in your best interest not to make offers verbally, before consulting a lawyer or notary and instead have a written contract..

IMPORTANT. Have your written offer prepared by a Lawyer or Notary. You will need a lawyer or notary at closing, and alot of lawyers will help you, if you are using them at closing. Remember your lawyer or notary are professionals and they are qualified to answer all legal questions.

4. Give a Deposit

It is always a good idea to attach a deposit to the offer because this shows the seller you are serious. The amount is usually around 10 %. The deposit cheque should be made out in trust to the Vendor's lawyer or notary.

5. Conditions

Write your conditions in the contract. Your conditions may include arranging financing with your bank, selling your home. Again please check with a lawyer or notary as they are the professionals.

6. Presenting the Offer

Once you present the offer to the seller, the seller will either reject your offer outright or present you with a counter offer. A counter offer is signed by the seller. If you accept the offer, all you need to do is sign and the offer becomes a binding contract. If you are still not happy with the counter offer, you can present the seller with the changed offer. This can go back and forth as many times as it takes before both parties reach an agreement.

Important - The document becomes a binding contract when both parties have signed.

7. CONTRACT SIGNED

Once the contract has been signed and dated, copies are sent to the lawyer/notary, to the seller and to you (the buyer). Your lawyer/notary will check the title, etc. and it is your responsibility to fulfill the conditions of the contract. Example arranging financing with your bank.

8.Have a walk thru before money is exchanged

Check the property to make sure that nothing is damaged or missing. If there are any problems contact your lawyer immediately, before money is exchanged.

9. Possession

When the money is paid out and on possession date, you are entitled to take possession and move in. ENJOY

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