Buying Real Estate in Edmonton

08/3/10 5:22 PM

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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. This will be useful if you are a first-time buyer or a seasoned pro, because it allows me to show you what it’s like to work with me, and it has been known to reduce stress and anxiety.* Besides, I have a Bachelor of Education degree, and this way I can say I am putting my education to good use.

Here are the 4 stages of the standard buying process:

1. Buyer consultation

2. The search

3. The offer

4. The move

Buyer consultation

1. 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.

2. You meet with a mortgage professional and obtain a preapproval. This is about the only way to know what you can afford and needs to be in place prior to looking at listings and writing an offer.

3. We meet for ice cream.

4. We sign preliminary paperwork, including:

• Consumer Relations Guide (explains my fiduciary obligations to you, the rules surrounding dual agency and your responsibilities. See the Real Estate Council of Alberta’s information for consumers for more information.

• Exclusive Buyer Brokerage Agreement. Similar to a listing agreement, this document clarifies our relationship and how I plan on helping you with the purchase.
  More on why we sign buyer brokerage agreements here:

The search

1. Based on the information in the buyer’s intake form, I craft a property search and send you property listings.

2. You look through the properties and select your top picks.

3. Before visiting them, you do a driveby to get a feel for the neighbourhood, location, look, etc.

4. If they pass the drive-by test and your financing is in order, we start looking at properties. You choose the properties you want to see, and I set up the showings.

The offer

1. Once we have chosen your favourite property, I will prepare the offer.

2. We decide how much to offer based on market activity (is it a buyers’ or sellers’ market, are there competing offers, how long it has been for sale, etc) and sign the paperwork.

3. We negotiate with the sellers until we have agreed upon the price, terms and conditions, and we are PENDING!

4. You provide an initial deposit (which will form a portion of your down payment) which remains in a trust account.

5. The mortgage broker completes your mortgage application.

6. You get a property inspection.

7. We remove conditions.

8. You provide an additional deposit.

9. The property is SOLD!

The move

1. You pack your boxes.

2. About a week before the move-in date, you meet with the lawyer to sign some more paperwork and bring a cheque for the rest of the down payment, the legal fee and property tax amount. Your lawyer will let you know how much to make the cheque out for.

3. On possession day, once the money has been transferred and the lawyers give the go-ahead, the keys are released and I deliver them to you.

4. You own a new property!

5. You write a testimonial of your experience with me.

6. You refer your friends to me.

7. We eat more ice cream.

*no peer-reviewed study has actually been carried out to ascertain the veracity of this claim.

Any questions?

Let’s get started!

Edmonton Area MLS Zone Map

Edmonton Rural MLS Zone Map

Places I’ve sold real estate so far: