Buying a home can be an intimidating and confusing experience if one does not know the process and what to expect. We at Highland believe in educating a home buyer with the goal of making this life decision as smooth and transparent as possible. Even if you decide not to buy a home from us it is our hope that our trusted real estate professionals make you a smarter, more confident home buyer.

Below is a brief summary of what to expect when buying a home:

Step 1:  Team up with a realtor - You should have an idea in your mind what you are looking for in a home.  Are you looking for a fixer upper or are you only interested in ready to move in tomorrow type properties?  Ask your agent questions about schools and the resale values of the homes in the neighborhood.  You will be presented with a “Working with a Realtor”, this document will provide you with information on what you can expect out of your relationship with your realtor.

Step 2:  You should obtain a pre-approval or prequalification certificate from a lender.  This is a really important step, it will determine the price range of homes you can afford and should be viewing.

Step 3:  The Negotiation period.  Make an offer once you have found home you would like to purchase.  An offer is presented by your agent to the vendor’s agent.  Usually there is a deadline when a response or a counter offer is expected.

Step 4:  The Purchase and Sale Agreement is signed by both Purchaser and Seller once the negotiations are completed. Once the subjects have been removed, a contract of purchase and sale addendum/ amendment is signed by both parties.

Step 5: Your offer has been accepted.  Most offers are subject to clauses like financing, home inspection and confirmation of insurance.  Once the offer and all of its subjects have been accepted then the buyer must work on getting all of the subjects removed.  Subject clauses have a deadline when they must be removed. 

Step 6:  Home Inspection – A home inspection is a good idea. The report will give the buyer a detailed account of all of the structural and technical aspects of the house.  If the house requires repairs, you are going to want to know about it.

Step 7:  Utility Transfers – It is up to the buyer to contact the utility companies informing them of the transfer of ownership.

Step 8:  The Walk-Through – Once the seller has moved out, the buyer and agent do a walk through to ensure that all agreed terms have been adhered to.

Step 9:  Possession - Enjoy your NEW home.