Real Estate 101

The Buying Process with Joanne Wilkins

Wednesday, October 2, 2019

A Step-By-Step Guide to Buying a Home

Buying a home is very exciting and rewarding. It is usually the biggest purchase of your life so it only makes sense to be fully informed and use a professional to guide you through the process. There are many important details to purchasing a home. My goal as an agent is to make sure you have all the necessary information,  walk you through the process and fully explain each step so you can make informed decisions. With my knowledge of the city, organization and attention to detail, I help my clients find a home within their budget that suits their lifestyle as well as negotiate on their behalf to obtain for them the best possible price.

Get a Pre-approval

The very first step is to speak with a mortgage specialist or mortgage broker to get a pre-approval so you can find out the amount of mortgage you qualify for. This is a very important step because it determines the amount that you can spend on a home and it insures that you are shopping in the right price range. The mortgage broker or specialist will request documents related to your job and income in order to complete the approval process. Once you know how much to qualify for, then you can start shopping for your perfect home.

What do You Want and Need in a Home

Now that you know your price range you can actively see what the market has to offer in that price range. You will want to determine the timeline in which you want to be in your new home. You will also need to determine the features of a home that would best suit your lifestyle. What style of home do you prefer, how many bedrooms and bathrooms do you need? Do you know what area of town you would like to live? Once you have made a wish list of must haves and things that are negotiable then we can set up private showings to view the homes that meet your criteria.

Private Showings

After you get a pre-approval and you determine what you are looking for in a home I will set you up on Matrix so you can start seeing the active properties on the market. Together we will select homes that suit your taste and I will set up private showings for a time that is convenient for you.

Writing an Offer

When you find your home you will want to move quickly because if you find it desirable, most likely other people do too. With my professional guidance I will prepare a comparative market analysis to determine current market value for the home you want to purchase. This is how we determined what price we should start out at when submitting the offer. We don’t want to go so low that the seller will take offence and reject the offer but we also don’t want to go in too high that you over pay for the property. I will gather all the necessary documents and information to fully inform, protect and guide you through this process. I will write an offer that is in your best interest and make sure all your questions and/or concerns are addressed and met. The offer will have conditions in your favor to ensure you are satisfied with the home. The two main conditions are financing and a home inspection. We are able to have other conditions tailored to you and can be added to make sure you feel confident and secure in your purchase. With these conditions written for your protection, you can move quickly and confidently to obtain the home you desire.

The Negotiation

From the comparative market analysis that I prepared for you we will know what other similar properties in that area have sold for. This is how we determine what price we should start out at when submitting the offer. We also know what price range the house should sell for. With this information and my knowledge of the different types of negotiating tactics, I will work on your behalf to get you the best price for the desired home and incorporate appropriate terms into the contact to protect you.

Conditional Offer

If the offer is accepted then the property status will go conditional. During this time it is very important that you gather all financial documents in a timely manner. You will need to send all the documents to your bank or broker so they can fully approve your financing. Once your financing is in place you will arrange for a home inspection of the property at your cost as the inspector is working on your behalf. If you are satisfied with the financing, the home inspection and any other conditions there may be, then the conditions are removed and the property is considered sold.


The real estate brokerage will arrange to send all the offer to purchase details to your lawyer. The lawyer will contact you once all purchase and mortgage documents are prepared, to arrange a time to attend for signing the documents and to pay the remainder of the down payment, lawyer fees and taxes.

Possession Day

On possession day once funds have been transferred through the lawyer's office, the lawyer will call me to release keys to you, the new owner. This usually happens around noon on possession date if there are no delays. I will then meet you at your new home and do a walk-through of the property with you to make sure everything is in working order and to hand you the keys to your new home!

Throughout the process I will be there every step of the way, making it as easy as possible for you. From the beginning I will provide you with recommendations on mortgage brokers, inspectors, lawyers and any other professional you may seek. My goal is to ensure you have a smooth and enjoyable experience where you’re protected and thrilled with your new home.

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