The REAL Real Estate Process
Updated: Dec 6, 2019
How the F*** does the Real Estate Process Work?
So you’ve decided it is time to invest in some property. Well, I can’t say I blame you. Home ownership is a common goal amongst the general Canadian population. However, the process is very specific and is designed to protect all parties involved. Let’s take a simplified step-by-step journey through those various steps and hopefully when you’re done reading this blog, you’ll have a better understanding of how the f*** the real estate process works.
Step 1 – Your Budget
Oddly enough, you can’t just start your real estate journey without a clear picture of your finances. A solid budget will help you with your down payment, mortgage, additional costs and will be a key indicator as to how big and what type of home you will be able to afford. It will also give you that cash cushion you will need on mortgage payment dates in case some other hidden cost pops up in the monthly cycle.
Step 2 – Your Mortgage Options
There are many different types of mortgages available. Even if you do not have the savings set aside to make a 20% down payment, a high ratio mortgage could be your best option. Before you get to this step however, you should get yourself pre-approved for a mortgage by an accredited mortgage specialist – answering a few questions on an online form just won’t do. Once you’ve discussed your options with a professional (I’m happy to offer up some recommendations) I can begin sending you listings that match your wants and needs as well as your budget.