The first step is to get representation by an experienced and knowledgeable REALTOR® at The Moore Group, all of our agents are high-producing REALTORS®, meaning that we are very experienced with different price points, neighbourhoods, and circumstances, and we are dedicated to professional success.

Once you put the word out that you are looking to buy a home, everyone and their dog wants to recommend that you use their aunt’s best friend’s cousin— but this is no place for that. Buying a home is likely one of your largest financial transactions of your life, and you need an experienced professional on board to protect your interests.

The next step is a careful look at your finances with your lender. At The Moore Group, we work with a team of mortgage brokers who are experts in their field, handling thousands of transactions per year. The first step is to meet with them and get a clear view of what you can afford. This will take into account the expenses of owning and operating a home as well as current and future interest rates.

During this stage, we recommend starting an online home search with your REALTOR® using very broad criteria. This helps you to become familiar with general pricing in the market and start to get a sense of what you like.

We know that there’s no chance that this wasn’t step one for you, and we love that. But now that you have the dollars and cents figured out, it’s time to revisit that list now that you know your exact budget.

Once you’ve seen some inventory online, you might also be more clear on deal breakers— condo vs house, turn-key vs fixer-upper, garage, finished basement, etc, so it’s also time to tighten up the criteria on your online search and shift from seeing trends to seeing homes that are real contenders for you.

Then the fun part starts— it’s time to go see some houses!

Touring houses can be fun, tiresome, exciting and demoralizing all at once. We get it. Trust your gut, communicate with your REALTOR® and try to enjoy the process. Sometimes it takes one tour, sometimes it takes twenty tours, but eventually, you will find the right home.

This is where your fun and friendly REALTOR® suddenly turns into all business. There’s lots to consider and it is critical to get it right.

First up, how much cash do you need? Your deposit amount is a cheque you submit with the offer; usually $5000- $25,000 depending on the purchase price of the home. Your downpayment amount is the percentage of the home you are paying for with your own cash, which amounts to the payment you made as the deposit plus another payment just prior to possession. So if you are purchasing a home for $450,000 with 10% down ($45,000 total), you will give a deposit of $10,000 with the offer, and then provide the rest of the 10% ($35,000) at closing.

If your offer is not accepted, or you do not satisfy your conditions, the deposit money is returned to you.

Secondly, what are you asking to be included in the sale? Appliances and window coverings are usually standard—but not always. Your REALTOR® will discuss this with you in detail.

Next, possession day. Believe it or not, possession dates have broken up a lot of deals. This is again why you need a savvy and skillful REALTOR®. to navigate this for you.

Conditions are up next. There is no limit to the number of conditions that can be placed on an offer, but the two that are most common are financing and inspection. You will have had a plan in place with your REALTOR® about the best strategy when it comes to these conditions long before you are putting pen to paper on an offer.

We specialize in crafting offers that are desirable to the vendors that still meet your needs as a buyer, but some offers do get rejected. In our experience, every time that happens, the buyers end up finding something they like better and end up feeling grateful that other offer didn’t work out.

If you made a conditional offer, you will then have the number of days you agreed to in the offer to satisfy your conditions. Your REALTOR® will guide you through this process but do not delay, as there is no guarantee that the vendor will give you an extension if you have not organized your satisfaction in time. Once you satisfy your conditions, the deal becomes a final sale and you can celebrate!

The countdown to possession is busy but exciting. Our office will have sent you checklists for changing your address, as well as our recommendations for movers, lawyers, locksmiths, etc.

• 4 weeks ahead: Book your movers. Gather cardboard boxes & start packing one box a day.

• 3 weeks ahead: Arrange home insurance. Set up service calls for internet/TV etc for possession day.

• 2 weeks ahead: Make sure you have an appointment booked with your real estate lawyer for a few days before possession date. Arrange your mail forwarding with Canada Post and start working on your change of address

• 1 week ahead: Re-confirm your movers, kick the packing into high gear.

Closing: This is a meeting with your real estate lawyer a couple of days before possession. You will need to have home insurance set up before this meeting. The lawyer will give you the total amount of money you’ll need, which will include the balance of your deposit, the amount of property tax on the home for the portion of the year that you’ll own it, your CMHC premium (if applicable), your land transfer tax, and your legal fees and disbursements. You’ll have to get a certified cheque for this amount; once you’ve handed that bad boy over to the lawyer, you’ll collect the keys and get ready to move!

Possession Day: Take gas and hydrometer readings, check that all appliances work (let us know ASAP if not!), move in and enjoy. We highly recommend champagne and pizza for your first dinner in your new home. Congrats!