The 6 Steps to Getting What You Want

1. Getting pre-qualified for a mortgage
2. Developing the Get What You Want Wish List
3. House Hunting
4. Making an Offer
5. Meeting Conditions
6. Closing

Step 1 - Getting pre-qualified for a mortgage
This important step sets the foundation for your home search. It involves having a lender agree to lend you funds based on your personal financial situation. Pre-qualifying will ensure that you know how much mortgage you can get, which in turn will help us know what price range of homes we should be targeting in our search. It allows us to focus our house hunting time, and eliminates the risk and uncertainty of financing once you find your perfect home.

Step 2 - Developing the Get What You Want Wish List
Knowing what you need and want in your home is critical. What are your must-haves, your nice-to-haves, and your no-way-absolutely-nots? What neighbourhood makes you feel at home? How many bedrooms do you need? What kind of outdoor space do you want? What about counter-tops, appliances and floors? You can't get what you want if you don't know what you want.

Step 3 - House Hunting
Once we've narrowed our search, it's time to start looking at available homes. This step generally involves both of us screening listings electronically, our previewing properties on your behalf, and then finally going out together to look at homes. This is your opportunity to get a feel for neighbourhoods, refine your Wish List, and ask questions. While a Wish List seems kind of scientific and is a useful tool in deciding which properties to visit, the truth of the matter is that most people walk into their perfect home and just feel it. Of course it helps when it satisfies your needs and wants too, but don't underestimate the power of 'just knowing'.

Step 4 - Making an Offer
Congrats! Our house hunting efforts have paid off and you've found the right home for you: it satisfies your wants/needs, it's in your price range, and it feels right. The offer process is both exciting and nerve-wracking. We begin by drafting the Agreement of Purchase and Sale. This is a legally binding document which contains everything from the price you are prepared to pay, to the inclusions you want (washer/dryer, big screen TV), to your ideal closing date (the date you take possession), to conditions that need to be met for the deal to go through. Once you've submitted your offer, the seller can accept it, reject it or sign back a counter offer. During these back-and-forth negotiations, you may need to compromise on small things but we'll work together to make sure you Get What You Want.

Step 5 - Meeting Conditions
Conditions are requirements within the Agreement of Purchase and Sale that must be met for the deal to go through. These can include such details as financing, or having your lawyer review the legal details of the property, or a home inspection. And of course, you'll need to submit a deposit--an amount up to 5% of the purchase price, which is held in trust until close. Once the conditions have been met, the agreement is firm and now it's just a matter of waiting for your closing date. And of course, packing!

Step 6 - Closing the Deal
You're almost a homeowner! Closing is the point at which the ownership and possession of the property is transferred from the seller to you. It takes place after all legal and financial obligations have been met. Closing the purchase will be a team effort: in addition to yourself, your lawyer and your lender will all be involved in helping close the deal.