Purchasing a home is one of the most important decisions you will make in your life-time. Our Home Buyer’s Guide below will assist you in preparing for your purchase.

Step 1 – First things first

Ensure your finances are in order by ensuring that you are repaying your loans and credit card bills on time, as this will build your credit.

Ensure you have sufficient funds available for the initial down payment and closing costs.

Step 2 - Get Pre -Approved

Apply for a pre-approval for your mortgage. Once pre-approved your Lending Institution will send you a pre-approval letter valid for a specified period, detailing the amount you can borrow so you know what you can afford. This will help you to find the best options for you and focus your home search on properties within your price range.

If you haven't already done so, fulfill all conditions set out in your pre-approval letter so that you can get final approval and are ready to go!

Step 3- Secure Your Purchase

When you have found a property and made an offer subject to financing, contact your Mortgage Officer, and provide the details. Once the offer has been accepted by the Vendor, your agent will connect both lawyers and start the process of the drafting of the Sales & Purchase Agreement.

Provide the Mortgage Officer with a copy of the Sales and Purchase Agreement, and secure the purchase with the required deposit. Proceed with the sufficient down payment and closing costs (Legal Fees, Stamp Duty).

Step 4- Get Final Approval

Your Lending Institution will arrange to have the property professionally appraised to confirm its value.

Your Mortgage Officer will help you to arrange home buildings, home contents or mortgage protection insurance to protect your investment.

Your Mortgage Officer will notify you of your final approval of your home loan.

Step 5- Pre-Closing

Meet with your lawyer for pre-closing.

Your Mortgage Officer will send instructions to your lawyer who will then complete the closing documents, which you will be asked to review and sign in their office.

Your Mortgage Officer will provide you with a letter confirming all the details of your mortgage.

Step 6- Closing

Your lawyer will send the closing documents to your Mortgage Officer

Your Mortgage Officer will arrange to have the funds sent to your lawyer who will complete the purchase on the schedule closing day. Your lawyer will deliver the funds to the Vendors' lawyer and pick up the keys at the same time funds is exchanged.

Step 7- Start enjoying your new home!

Congratulations! You are a new home owner.