Buy

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully.

Are you tired of paying rent? Have you decided to pay your mortgage and not your landlord's? Have you outgrown your current home? Are you looking for an investment portfolio? Are you looking for a rental property? Would you like a larger yard? Would you like to be closer to work, school or family?

Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your investment.

Before You Start

Before you start shopping for your property, it is a good idea to make some preparations.

Build Your Green File

A green file contains all the important financial documents you will need to secure financing for your property. The typical green file should contain:

Check Your Credit Score

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that we can determine what you can afford. The lender will help you understand your buying power.

Maintain Financial Stability

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability. In other words, do not apply for loans and change jobs or retire.

Do not make any large purchases or move monies to new or “unseasoned” (less than 2 months) accounts.

Choose a Real Estate Professional

Buying a property requires making many important financial decisions, understanding complex issues, and completing a lot of paperwork. It helps to have an expert in your corner when undertaking such a large purchase. We can guide you through this process and help make it as seamless as possible.

Find the Right Property

Get to know the neighborhoods, compounds, or subdivisions, which interest you. Drive around and get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas.

Select a few properties that interest you the most and contact us to make appointments to visit them. Ask your real estate agent about the potential long-term resale value of the properties you are considering.

Making an Offer

Once you have picked out the property you want to purchase, we are here to help you make an offer that the seller will accept. A good broker will investigate the potential costs and expenses associated with the new property. Our goal is to help you determine the best possible price.

Escrow, Inspections and Appraisals

The Initial Agreement and Deposit

An effective agreement is a legal arrangement between a potential purchaser and the property's seller.

Tips for a Smooth Process

Keep written records of everything. For the sake of clarity, it will be extremely useful to transcribe all verbal agreements including counter-offers and addendums and to convert them into written agreements to be signed by both parties.

Stick to the schedule. Meeting the requirements on time ensures a smoother flow of negotiations and the subsequent closing.

The Closing Agent

Either a title company or an attorney will be selected as a closing agent. The closing agent will hold the deposit in escrow and will research the complete recorded history of the property to ensure that the title is free and clear by the date of closing.

Inspections

Once your offer is accepted by the seller, you will need to have a licensed property inspector inspect the property within the time frame that was agreed upon in the effective contract to purchase.

Appraisal and Lending

You must keep in close communication with your lender, who will let you know when additional documents are needed to approve your loan application and fund your loan.

Property Insurance

If you are obtaining a loan, you will be required by your lender to purchase a certain amount of insurance on the property. We will be happy to recommend experienced knowledgeable insurance agents for every property type.