Step 18 to Buying a Home: Continue Saving, Stop Spending!
So, it looks like we are nearing home and you must be excited. Don’t start shopping for furniture and other high ticket items unless it’s on your debit card. Don’t charge any high ticket for your home on your plastic – especially those DON’T PAY UNTIL promotions – that’s a big NO! The moment you […]
Step 17 To Buying A Home: Give Notice To Your Landlord
This is one of the moments you are waiting for when you can finally send a notice to your landlord that you’re gladly packing your stuff (whoo hoo!). If you live in Toronto and anywhere in Ontario, and on a month-to-month tenancy then you have to give at least 60-day notice to end your rental […]
Step 16 to Buying A Home: Send Notice of Fulfilment/Amendment/Waivers/Mutual Release
If you got this far, then you’re almost there! I’m excite for you.If you have gone ahead and perform the conditions in the accepted conditional offer, then your Realtor (if that’s us), will prepare a Notice of Fulfilment signed by you, of course and send it to the sellers through their agent. If you did […]
Step 14 to Buying a Home: Review the Condo Documents
If you’re buying a condo apartment, condo townhouse, POTL (parcel on tied land) in Toronto and the Greater Toronto Area in Ontario, a condo document needs to be reviewed by the lawyer ASAP. In some cases, prior to putting an offer if the condo status certificate is available. This document needs to be updated if […]
Step 10 to Buying a Home: Securing A Mortgage
Step 10 to Buying a Home: Securing A Mortgage As soon as you have an accepted purchase agreement, send your executed contract to the mortgage lender as they need to do a lot of steps to ensure that your loan will be approved and funded on time for the closing. If you did not send […]
Step 9 to Buying a Home: Your Deposit Money
Now that your offer has been accepted by the seller and we have a fully executed purchase agreement (contract), it’s time to drop off your deposit (earnest money). Deposit money usually needs to be dropped off within 1 business day of accepted agreement or whatever the contract says about the deposit. So, what is earnest […]
Step 8 to Buying a Home: I have an accepted contract on a new home…
Congratulations on having an accepted contract on a house, but now what? In Ontario, purchase agreements (contracts) are accepted in writing. Unless we received an executed contract (which means everything has been signed by both the sellers and the buyers) we do not have an enforceable contract. Therefore, it’s urgent that a signed contract be […]
Step 11 to Buying a Home: Schedule a Home Inspection
Once your offer has been conditionally accepted, it’s crucial to schedule a home inspection as soon as possible. If negotiations don’t work out, the inspection can always be cancelled. Timing: Ideally, schedule the inspection within 2-3 days. During busy times, inspectors may be booked a week or more in advance. The inspection report usually takes […]
Step 7 to Buying a Home: I Want to Make An Offer On My Dream Home
Congratulations! You’re Ready to Make an Offer on Your Dream Home! Before we can submit your offer, we need a few details from you. You can email, text, or fill out a form with your answers (click here to fill out the form): 1. Full Legal Name: Please provide the full legal name and email […]
Step 6 to Buying a Home: Pick a Real Estate Lawyer
Step 6 to Buying a Home: Pick a Real Estate Lawyer Now that we’re starting to look at homes for you, it’s important to pick a Real Estate Lawyer to help with the transaction. While it’s not mandatory in Ontario, almost everyone – about 99% of buyers and sellers – has a lawyer. You don’t […]