First Time Buyers


  1. 1. DETERMINE - Your wants and needs. Your needs are more important that your wants. Make a list of both and decide the really important ones.
  2. 2. PRE-APPROVAL - Contact your mortgage broker. They will discuss your current financial situation and determine the amount of mortgage you would be approved for.
  3. 3. CONTACT - You will need to find a way to get information on properties that might suit you. Contacting a Realtor is the best way. They will sit down with you and go over your needs and wants list.
  4. 4. TOUR - The Realtor you choose will set up a time to go and tour some properties. You may see something the first day that exites you or you may see nothing at all. Both of these situations are important.
  5. 5. RE-EVALUATE - The needs/wants list may be too aggressive or not aggressive enough. Your sights may be set too low or high with your financial abilities.
  6. 6. MARKET EVALUATION - When you find a property that will work for you, your Realtor will prepare a market evaluation. This helps determine if the price the seller is asking is reasonable in today's market.
  7. 7. OFFER - This is where pen comes to paper. An offer is written. This has, among other things, the price you are willing to pay, the dates you want to pay and move in, the subject condition (financing, inspection, etc.) and the things you want included in the price.
  8. 8. NEGOTIATE - Now is the time for your Realtor to help you get the best price. They will take your offer to the Listing Realtor and present your offer.
  9. 9. FULFILL - Once you have agreed on terms and conditions in the contract, you will need to work on fulfilling the obligations in the contract. You will need to hire a Home Inspector or have the property appraised by the financial institution. Once they are fulfilled, you must sign a subject removal making the home yours.
  10. 10. LAWYER/NOTARY - You will need to choode a Lawyer or Notary Public to do you conveyance. This is when the title to the property is transferred into your name.
  11. 11. GET READY TO MOVE - Now it is a waiting game. You will move into your property at 12 noon on the possession date (unless ohterwise specified in the contract).
  12. 12. MOVE IN - On the assigned day you can physically move into the property. This is the day you have been waiting for.