Split Level for sale St. Thomas, $299,500 Get pre-approved

Steps to buy this property

So you decided you like this property and would like to make an offer.

Here are the steps.

1. 1. Investigate Mortgage Options

   As soon as possible in your buying process, make sure you can get the necessary financing to acquire the property. Consult a financial advisor and/or get a pre-approved mortgage. You will then know the exact amount of the loan that your financial institution is willing to lend you.

   For information on mortgages and to get pre-approved, contact The Mortgage Wise Financial Team: www.mortgagewisefinancial.com or (519) 433-5013 and toll free at 1-866-503-8755.

2. 2. Get a Lawyer

   It's important to hire a lawyer who specializes in real estate. You could find yourself in a bidding war for the home you want, and it doesn't hurt to have a lawyer look over any offer to purchase before you submit it. A real estate lawyer will also conduct a title search and check for outstanding taxes and liens on the property.

3. 3. Make the Offer

   You can contact your lawyer for help with filling out the offer document, which can be downloaded from the comfree website or provided to you by the seller. You then present the written offer to the seller. This document includes the price, conditions, deposit and closing date. The seller either accepts, rejects or counters the offer (also called "signing back" the offer).

4. 4. Home Inspection or New Home Warranty

   Hiring an inspector is voluntary, but it's a smart idea for resale homes. You can choose to make your offer to purchase the home conditional on the outcome of your inspection. If your inspection reveals major problems, you can negotiate those repairs with the seller before your deal closes, or legally withdraw your offer.

   What is a New Home Warranty?

   New Home Warranties are typically used when you buy a brand new home. The builder provides a New Home Warranty to cover things like deposits and completion dates, along with labour and materials for at least one year after the home was built. It also protects you against structural problems for a minimum of five years.

5. 5. Finalizing the Deal

   Finalizing the deal will include the final approval of your mortgage, a meeting with your lawyer to finalize details like insurance and conditions, and the results of a title search.

6. 6. Moving Preparations

   There's a lot to do before you move. Line up utilities and other services like phone, cable and internet. If you rent, you must give your landlord notice. Also, forward your mail to your new address and hire a moving company. Preparing these things well in advance will help you make a smooth transition to your new home.

7. 7. Closing Day

   This is the day you legally get possession of the house. Your lawyer completes the paperwork (so the home is in your name), payments are finalized and you receive the deed and the keys. Congratulations on your new home!