Buying Process

What are you looking for?

It is important to determine exactly what you are looking for before you start looking! This will save you a lot of time and energy. Try to answer the following questions before you start your search for the perfect property:

  1. What area do you want to buy in?
  2. What is your budget?
  3. How many bedrooms and washrooms do you need?
  4. Is it for and investment or are you looking to move in yourself?
  5. When were you looking to move in?
  6. Do you need any extras?

Choosing a profession


This is an important step in finding the perfect property to purchase. A reputable realtor will not only be experienced and knowledgeable in the specific area you are looking in, but they will also work hard to find you the best price available.


This agreement outlines that you, as the buyer, are agreeing to work with a realtor in order to find a property.

Viewing properties

In order to find the perfect property to buy or lease, it is essential that you visit them in person to determine whether they fit your needs. Some properties might be attractive in pictures and through description, but you must view it in person to determine its real value. Your realtor will use their resources to look for the best properties available on the market that match your wish list. They will then contact the owners or the agents to set up viewings.

Making an offer

So you’ve found the perfect property to buy or rent! You are almost half way there!


This is an agreement created by the Ontario Real Estate Association. It is typically referred to as the “offer”.  This agreement contains the following:

  1. Names of the parties involved in the transaction
  2. The property address of transaction
  3. The purchase price and the deposit amount
  4. The amount of commission offered to your agent and to the co-operating agent
  5. The closing date(or move-in date)
  6. Schedules (Clauses which might include additional items or services included in the sale special provisions, additional representation, or any conditions of sale from either the seller or the buyer.)

It is the responsibility of the buyer and seller’s agents to make sure that all information presented on this agreement are accurate.

The agreement is signed by the buyer and their agent, then sent to the listing agent to present to the seller. It is then the responsibility of the owner to review the agreement and either accept or deny the offer. There are often negotiations between the buyer and seller and their agents to sort out various aspects of sale including price and extra inclusions. If accepted, the owner will sign and their agent will let the buyer’s agent know that the offer has been accepted.

Setting Up Your Budget

Most people need to borrow the money needed to buy a property. That is where getting a mortgage comes into play. Getting a mortgage pre-approval is the best option, especially for first time buyers. This allows you to “shop around” for the perfect property, knowing how much you can spend. You wouldn’t go shopping without looking at the price tag, and without knowing how much you have in the bank to spend. This concept applies for buying a property. Contact your local bank for more information on how to get pre-approved.



These are the fees you need to pay by the closing date. These fees include:

  1. Real estate agent’s commission
  2. Legal fees
  3. Disbursements
  4. Utility and property tax adjustments
  5. Mortgage prepayments or discharge fees

You may want to hire a lawyer to help you deal with all the paperwork that comes with closing costs. They can be complex and confusing. It is important to have a professional deal with the legalities.

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