Buying a Home
Ten Steps to Buying a Home
You may be a first-time homebuyer or a seasoned investor. Nicolette is equipped with the knowledge and technology to deliver a seamless closing on your purchase.
Find an Agent
Look for a licensed Real Estate Agent who is knowledgeable about the neighborhoods you’re considering and can help guide your search.
Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying in cash for the full price of your home). Nicolette can connect you to a mortgage broker. Based on your income and credit history, the mortgage broker will determine how much the bank will lend you, which will help you determine the price range for your search.
Attend viewings and open houses spanning a range of areas and property types. Now is the time to consider your ideal home’s location and amenities.
Once you have seen a home you like, you can put in an offer, which is an agreement to pay a certain price for the home. If your offer is lower than the list price, the seller will likely return with a counter-offer price, which you can choose to accept, reject, or make another offer. Nicolette will provide advice throughout to ultimately reach an agreement with the seller on price and terms.
You are given a limited time period to conduct all inspections.
Sign Contract & Put Down Deposit
The seller’s attorney will draft a purchase and sale contract and deliver it to your attorney. If changes are requested, the seller must agree to these changes. Signed contracts are then returned to the seller’s attorney with a contract deposit. This deposit will be a portion of your down payment.
Complete Loan Application
Your bank will organize an appraisal. Your completed mortgage loan application with all supporting documentation should be submitted to your chosen lender upon receipt of the fully signed contracts. The bank then issues clearance to close.
Closing Scheduled by Attorneys
A final walk-through of the property is performed just prior to closing. The walk-through confirms that no damage has been done to the home since the time of inspection and that the major systems and appliances are in working order and any inspection items have been addressed.
Once all the conditions of the contract have been satisfied, the closing is held. The closing documents are signed, payment is exchanged, and the buyer receives the keys to their new home!