Home Buying Checklist
Download the Homebuyers Guide Here - Provided by Scott Dawson of Verico Paragon Pacific Mortgages
Figure out how much you can afford.
Calculate your monthly income and debt.
$___________________ - $__________________ = $__________________
- Choose a location (downtown, urban, suburban, rural).
- Choose a type (single family, townhouse, condo, loft).
- Choose a price range. $ to $
- Choose a size. sq. ft.
- Choose an architectural style.
Get pre-approved for a mortgage.
Choose a type of mortgage.
- fixed
- adjustable
- conventional
Shop for the best interest rates and programs.
- Interest rate:__________%
- Loan term:__________years
Determine what you want and need in a home.
- Choose a location (downtown, urban, suburban, rural).
- Choose a type (single family, townhouse, condo, loft).
- Choose a price range. $___________ to $__________
- Choose a size. ________________sq. ft.
- Choose an architectural style.
Research your target neighbourhoods.
- Look online for information on schools, crime rate, traffic and zoning.
- Determine your work commute.
- Scout local amenities, such as parks, shops and restaurants.
Work with a buyer’s agent who knows the neighbourhood.
- Get referrals.
- Consider working with an exclusive buyer’s agent.
- Interview at least three agents.
- Look for experience and good chemistry.
Make an offer and negotiate.
- Determine the purchase price.__________________ $
- Include Conditions, such as Financial, inspection or purchase.
- Spell out any special requests you want included in the sale.
- Determine an earnest amount of money. ________________________$
- Decide a move-in date.
- Once both parties agree to the terms, sign the Purchase and Sale Agreement.
Finalize the deal.
- Get a professional home inspection.
- Inspector contact:__________________
- Choose a home insurance company.
- Complete the loan process with the lender.
- Do a walk-through inspection prior to closing.
- Set aside cash for the closing costs and down payment
- Meet with Lawyer to go over all closing docs 10 days prior to possession
- Bring Check to pay lawyer fees typically between $1000 - $2500
