How do I buy a home in Winnipeg?
By Scott Moore, RealtorWhether it’s your first time buying a home, or your fifth, the process should always be pretty much the same. Let’s break it down:
1. Find a great REALTOR®. Browse through our REALTOR® at: https://www.themooregroup.ca/our-group and pick someone you feel like you will connect with.
2. Set up a call or a meeting with the REALTOR® you chose to get to know each other and make a game plan. Bring your questions and your wish list. If you already own a home, the best way to sell that home will be a part of the discussion too.
3. Your REALTOR® will take the info from that meeting and set up an online search, which will email you new listings that fit your criteria whenever they are listed. Your REALTOR® will also start putting out feelers for homes that aren’t listed yet that could work for you.
4. In the meantime, you will reach out to your mortgage broker and set up a mortgage approval which will refine your budget. You might also want to start casually going to open houses just to get a feel for what’s out there. Here is a different blog post that talks about mortgages: https://www.themooregroup.ca/blog/2021/08/03/2021-8-3-mortgage-pre-approvals-what-are-they-and-do-you-need-one
5. Once you have your approval, it’s time to start looking at homes! I would say that most buyers see 8-10 homes before being ready to write an offer, but that’s just an average. Sometimes it happens quickly, and sometimes not. What should you look for? Find out here: https://www.themooregroup.ca/blog/what-to-look-for-when-buying-a-house-a-pdf-checklist
6. When you’re ready to write an offer, you’ll discuss price, conditions, deposit, inclusions, and possession date and then craft the best possible offer.
7. Offer accepted! Yahoo!
a. Next up is satisfying your conditions (if the offer was subject to conditions—commonly financing approval or inspection). If your offer was subject to financing, send your offer to your lender ASAP. If it’s subject to a home inspection, your REALTOR® will help you get that booked ASAP. Once these are satisfied, then you will sign a document removing the conditions and you will have a final sale!
b. If you bought a condo, you will receive a full file of documents about the condo corporation and have 7 full days to review them. The cooling off-period will expire once the 7 days passes, and then you will have a final sale!
8. Offer declined, bummer. Not to worry, it happens. We have lots of advice here: https://www.themooregroup.ca/blog/how-to-shake-it-off-when-your-offer-has-been-rejected
9. Final sale! Congrats! Next is planning for your move and changing your address. Here are some incredible tips: https://www.themooregroup.ca/blog/2019/02/13/2019-2-13-changing-your-address-in-manitoba. You should hear from your real estate lawyer at least 2 weeks before possession date to set up an appointment to sign the documents and provide the down payment and land transfer: https://www.themooregroup.ca/blog/what-is-land-transfer-tax-in-manitoba tax.
10. Moving day! It will be sweaty, tiring and something will go wrong. But at the end of the day, you’ll fall asleep in your perfect new home and it will all make sense.
Congratulations! You just bought your new home.