Timeline for Buying a Home
Find out what to expect when buying a home. Let our years of experience work for you. At Eximus Real Estate Team, we can help you with every step of the process. We can offer you our advice, guidance, and knowledge based on years of experience helping hundreds of families move every year.
Here is a general outline of the process and activities involved when you are buying your home.
| | Pre-Approval | It’s usually a good idea to be pre-approved for a mortgage before you take any other steps toward purchasing a home. | |
| | Viewing Homes | When you are ready to make a purchase, based on your purchase criteria, we will select the best homes for you from hundreds. It is our job to make sure that you only spend time viewing homes that fit the criteria you are looking for. | |
| | Writing an Offer | The good homes in Abbotsford go very quickly. We can help you to write an offer immediately once you find the one that’s for you and negotiate the best deal for you. | |
.png)
| | Accepted Offer | This is when all parties agree on the terms of the sale, the contract is fully signed, and changes have been initialed. There are still conditions, or subjects, to the contract that the buyer or seller is under obligation to resolve before the sale becomes firm. For example, subject to the buyer arranging suitable financing. There is an agreed upon date at which the subjects must be removed from the contract, usually one to one and a half weeks after the contract date. | |
| | Inspection | Any inspections you wish to do should be booked immediately after the offer is accepted. | |
| | Subject Removal | An addendum to the contract is signed stating that all conditions to the sale have been removed, and the property is sold firm. | |
| | Lawyer or Notary | It’s a good idea to choose your lawyer or notary immediately after the deal is firm so that our office can send the paperwork right away. We want to make sure the sale process is smooth and all paperwork is taken care of as quickly as possible. | |
| | Prepare to Move | Between subject removal and title transfer is a good time to start planning to move. Please see our moving checklist to help you as you prepare to move. | |
| | Insurance | Most lenders require proof of insurance on the property before they will advance their financing. It is a good idea to set this up as soon as the subjects are removed. | |
| | Change of Address Cards | This is a good time to start sending out your change of address cards and new telephone information to your friends and contacts. | |
| | Sign Documents with Lending Institution | If you are taking out a mortgage, you will meet with your lending institution about 1 week before the Closing Date to sign the necessary documents. | |
| | Sign Documents with Lawyer or Notary | About one week before the Closing Date, your lawyer or notary will schedule a meeting with you to sign all the necessary documents. | |
| | Follow Up Call | About one week before Closing, we touch base with your lawyer or notary to make sure that everything is going smoothly and they are prepared to close your deal successfully the next week. We’ll give you a call, too to ensure that all your concerns and questions are handled. | |
| | Completion | On this day your deal "completes" you will pay the money for your property and the title changes hands. It is on this day that you also need house insurance. You will receive a call from our office as soon as we get the good news from the lawyer or notary. | |
| | Transfer of Title | This clears the seller of all financial encumbrances associated with the property: any amounts owing (i.e. - strata fees in arrears) are paid for out of the selling price making it a clear title. The title now goes under the buyer’s name and any new financial encumbrances (i.e. - mortgage) are applied. | |
| | Possession Date | At 12 noon you will be given the keys and can begin to move in. | |