How To Buy Your First Home - Step 7: Make an Offer

How To Buy Your First Home - Step 7: Make an Offer

You've found the home you want to make your own! So exciting! The next step is to prepare an offer to submit to the seller, which is technically called an Agreement of Purchase and Sale.

Let's discuss the details of an offer, whether you should include a financing and home inspection condition in your offer, the offer process, and how a bidding war could impact your offer.

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How To Buy Your First Home - Step 6: Let The House Hunting Begin

How To Buy Your First Home - Step 6: Let The House Hunting Begin

Now that you have your finances in orderhave been pre-approved  for your mortgagehave calculated the costs of buying your new homehave the necessary money saved, and have picked your real estate agentthe fun starts! Let the house hunting begin!

But before you starting house hunting, you need to have a rough idea of what you’re hunting for. That’s where a real estate agent can help.

Check out these questions to help you narrow down what kind of home you want.

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How To Buy Your First Home - Step 5: Pick Your Side Kick

How To Buy Your First Home - Step 5: Pick Your Side Kick

If you haven’t done so already, now would be a good time to pick a real estate agent to assist you through the process of finding and purchasing your new home. It can be a jungle out there, so it's best to have a trusty guide to help navigate you through the process.

Do you really need the help of a real estate agent? How do you pick the best real estate agent for you? Should you sign a Buyer Representation Agreement?

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How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

How To Buy Your First Home - Step 4: Gather The Funds Needed To Buy Your New Home

If you’re like most future first time home buyers, the idea of needing to save up money for your deposit, down payment, land transfer tax, and legal fees can seem really daunting. That’s why it is ideal to start saving as early as possible. Even though you might not be looking to buy a home for another 2 years, stashing away money now can help make the process of handing over so much cash a little more manageable. 

Check out the break down of the costs you can expect as a home owner, and a trick to help you start saving for your down payment.

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How To Buy Your First Home - Step 3: Calculate the Cost of Buying Your New Home

How To Buy Your First Home - Step 3: Calculate the Cost of Buying Your New Home

I know talking about finances and expenses can be depressing, but encountering unexpected costs in the process of purchasing your new home is a sure fire way of killing your home buyer’s high. So below I lay it all on the line and hope that this helps eliminate any unexpected (and potentially expensive) surprises for you.

The following costs are what you could expect to have to pay by the time you take possession of your new home, otherwise known as the “closing costs”. 

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How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

How To Buy Your First Home - Step 2: Get A Mortgage Pre-Approval

Nothing will give you a more accurate picture of what price point you can afford to purchase your home in than speaking with a mortgage professional. Bonus: their services and advice are free!

Should you speak with a mortgage broker or the bank? What is a mortgage pre-approval? Is it a guarantee of financing?

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