First Time Home Buyer Information

1) Getting Ready
  • CONTACT A MORTGAGE SPECIALIST & GET PRE-APPROVED
  • Review Purchasing Costs:
    • G.S.T (only on new property)
    • Legal Fees (Lawyer)
    • Home Inspection (if applicable)
    • High Ratio Mortgage Premium (only if borrowing over 80% of the purchase price)~CMHC
    • Deposit (minimum 5% & forms part of the purchase price)
  • Review First Time Buyer Savings ~First-Time Home Buyers' Tax Credit (HBTC)
  • RRSP tax free withdraw (up to 25K per person) ~Home Buyers' Plan

2) Get Set
  • Meet in my office
  • Define your Search Criteria
  • Needs Vs. Wants analysis
  • Neighbourhood analysis (likes & dislikes)
  • Determine what your budget will get you in your neighbourhood of choice
  • View property details from listings in your neighbourhood of choice
  • Through process of elimination determine what home(s) interest you the most

3) Go 

Make an offer
  • Determine Price, Possession date & Completion Date
  • Determine Conditions (usually: Inspection, Financing,Condo Documents - if applicable)
  • Submit Offer
  • Sellers Options (Accept, Counter or reject)
Once offer is accepted work through & remove all Conditions
  • Get and Review Inspection
  • Finalize Financing
  • Place deposit check into the Trust Account of the Realtors Brokerage (Bank Draft)
4) Congratulations 

This First Time Home Buying outline will be altered slightly depending on the product being purchased (House or Condo). However the basic outline that you see above is the foundation of the home search needed to get you “the buyer” into the home that works best for your needs.

Get In Touch

Christie Bergman

Phone: 780-490-5006

Toll Free: 1-888-490-5006

Fax: 780-490-5076

Email

Office Info

Realty Executives Encore

6756-75 Street  Edmonton,  Alberta  T6E 6T9 

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