A Buyer’s Timeline Explained

1) Attend Showings and Open Houses

• Together, we will get started by going to see some homes. This way we are able to figure out what is a must have, what is a nice to have, what is working and what might not be. The more we see, the more we know.    
• I will always make an effort to attend with you. It is your job to envision yourself in the home. It is my job to help point out potential red flags and to bring awareness to issues that you may not have noticed.

2) You Like Something - Now What? 

• Once you have found a home you like and are interested in offering on, we collect more information to assist us in the process. Strata documents (if applicable), permits, floorplans etc
• When are offers due? Is there a set date? Or is the Seller ready to review an offer at any time?
• Is this a hot property? Do we expect any other groups to also be offering? Or are we the only ones? Our offer strategy will of course differ if we are the only group or if there are others.
• We will then develop a pricing strategy by reviewing the recent comparable sales data. We will always work within a price range.

3) Submit Offer and Negotiate

• After reviewing a draft version of all paperwork, we will submit our offer to the other party for review. They will either accept it, reject it, or return a counter offer for further negotiation. 

4) Achieve Accepted Offer

• Once all terms are mutually agreed by both parties - CONGRATS - you have an accepted offer!

5) Subject Removal and Due Diligence Period

• We now have the agreed upon amount of time to conduct our investigations and to ensure that we are satisfied with the property.
• This amount of time can vary depending on the circumstance, but it is often 3-10 days. 
• This is when we will conduct our inspection, secure financing (if required) and review all pertinent documents in detail. 

6) Subject Removal

• After the Subject Removal Period has passed and you have satisfied your conditions, it is time to "remove your subjects". 
• Once this step is completed, the home is officially SOLD and you are committed to purchasing the property
• A 5% deposit is due at this time.

7) Completion Date

•  This is the day that the remainder of funds is due. This is usually a combination of additional down payment and any mortgage funds you have been loaned. 
•  Your lawyer or notary will be working with your lender and the Seller's representation to coordinate all the remaining pieces of the puzzle. 
• Once achieved - the Title will be transferred into your name and the transaction is now complete

8) Possession Date

• This is the day you get the keys to the home. It often differs from the completion date by a few days. 
•  Hooray we made to the finish line - you bought a home!