The Home Buying Process

Read here about some of the basic steps involved with purchasing your new home and then contact us to be connected to an agent.

Working with a Macdonald & Wood Sotheby's International Realty Agent can make the buying process go smoothly.

Purchasing a home is very exciting, but it can also be somewhat complicated.  Choosing the right Realtor is always the best first step in the buying process.  The agents at Macdonald & Wood Sotheby’s International Realty are here to help you though the buying maze.

At the first meeting with your agent, you will discuss the relationship that you will have with your agent.  Most buyers choose to hire an agent to represent them as a buyer’s agent.  You will also discuss your timeline, the geographic area that interests you, price, style, and size of home you are looking for.

If you need to secure Financing for the purchase, you will need to meet with a mortgage representative and get a letter from the lender stating what you are eligible to borrow. A Macdonald & Wood Sotheby’s International Realty agent would be happy to refer you to a mortgage representative.

Once you identify the property you wish to pursue, the next step is to Make An Offer.  This includes specifying all of the terms and conditions of your offer and is accompanied by a “binder” check as a deposit. Learn more about the process of Negociating.

It’s important to have a professional home inspection before anything is final. The inspection is paid for by the buyer. This is generally done within 10 to 14 days of an accepted offer.

Shortly after the inspection period, a Purchase and Sales agreement is signed and is accompanied with an additional deposit. The “P&S” is an agreement to pay a specified price on a specified date for a property.

Prior to closing, you should make sure you have insurance in place for the purchase.  You should also call the utility companies to change the accounts into your name as of the day of closing. Learn more about other cost associated with the Closing.

Of course, each transaction is unique and presents its own challenges. These are just some of the major steps in the buying process. You should speak to a Macdonald & Wood Sotheby’s International Realty agent to get more information.

If you have any questions, please contact us.