Timeline for Buying a Home
Time Activity Explanation
Pre-Approval It’s usually a good idea to be pre-approved for a mortgage before you take any other steps in purchasing a home.
Viewing Homes When you are ready to make a purchase, I will select the best homes for you from hundreds. It’s my job to sort the good from the bad.
Time of Offer
Writing an Offer The good homes in Abbotsford go very quickly. It’s a good idea to write an offer immediately once you find the one that’s for you.
Accepted Offer This is when all parties agree on the terms of the sale, the contract is fully signed, and changes have been initialled. There are still conditions, or subjects, to the contract that the buyer or seller is under obligation to resolve before the sale becomes firm. For example, subject to the buyer arranging suitable financing. There is an agreed upon date at which the subjects must be removed from the contract, usually one to one and a half weeks after the contract date.
Inspection Any inspections you wish to do should be booked immediately after the offer is accepted.
1-1.5 weeks after Offer is Accepted
Subject Removal An addendum to the contract is signed stating that all conditions to the sale have been removed, and the property is sold firm.
Lawyer or Notary It’s a good idea to choose your lawyer or notary immediately after the deal is firm, that way our office can send the paperwork right away.
Prepare to Move Please see my Moving Checklist
Book a Moving Truck it’s a good idea to book the truck as soon as you know your moving day.
2-4 weeks before closing
Change of Address Cards I will deliver to you your free Change of Address Cards for you to start sending out to your friends and contacts.
1 week before closing
Sign Documents with Lending Institution If you are taking out a mortgage, you will meet with your lending institution about 1 week before the Closing Date to sign the necessary documents.
1 week before closing
Sign Documents with Lawyer or Notary About one week before the Closing Date, your lawyer or notary will schedule a meeting with you to sign all the necessary documents.
Follow Up Call About one week before Closing, we touch base with your lawyer or notary to make sure that everything is going smoothly and they are prepared to close your deal successfully the next week. We’ll give you a call, too, so that you can rest assured.
Completion On this day your deal "completes:" you will receive the money for your property and the title changes hands. It is on this day that you also need house insurance. You will receive a call from our office as soon as we get the good news from the lawyer or notary.
Transfer of Title This clears the seller of all financial encumbrances associated with the property: any amounts owing (i.e. - strata fees in arrears) are paid for out of the selling price making it a clear title. The title now goes under the buyer’s name and any new financial encumbrances (i.e. - mortgage) are applied.
1-2 days after closing
Possession Date At you will be given the keys and can begin to move in.