Buying Real Estate in Edmonton

08/3/10 5:22 PM

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The buying process explained

I love working with buyers. The hunt to find the right property can be a really fun experience! Before getting started, I like reviewing the process in detail, so we are both on the same page and to minimize surprises. Surprise birthday parties are fun; surprises in the buying process are not.

In an ideal world, here’s how the process will go:

Buyer consultation

Fill out the buyer’s intake form below before we meet. Tell me about yourself, your present situation, and what sort of property you’d like. I’ll then set you up with your own custom property search and you can start selecting the ones you’d like to view.

Mortgage preapproval

You meet with a mortgage professional and obtain a preapproval. This is the only way to know what your budget is, and will give us confidence when it comes time to writing an offer.

We meet for ice cream

Or lunch. I’m flexible. When possible, it is great to have a face-to-face meeting before we start looking at properties. We could also do a video call if you like. We can review the search criteria to see if it needs to be adjusted, and then we can set a date to start visiting listings.

The paperwork

The paperwork involved in the buying process includes the following:

• The Consumer Relations Guide explains my fiduciary obligations to you, the rules surrounding dual agency and your responsibilities as a buyer.
• Exclusive Buyer Brokerage Agreement. Similar to a listing agreement for sellers, this document formalizes our relationship and how I plan on helping you with the purchase.
• The Purchase Contract. Together, we decide on what you’d like to offer, the amount of your deposit, date of possession, and the terms and conditions of the offer. The most common conditions are financing, property inspection, and the review of condominium documents.

Finalizing the sale

Once you have received confirmation from your mortgage broker that your financing is approved, and once you have completed the property inspection, you are in a position to remove your conditions. This is when you can say that you have officially bought the property! The next thing to do is to start packing and prepare for possession day.

Let’s get started!

Edmonton Area MLS Zone Map

Edmonton Area MLS Zone Map

Some of my preview sales