Overview Of The Buying Process
House buying is more complicated than many people expect. Here’s an overview from Luke on the steps involved for a typical BC home purchase.
1. Ensure you’re ready to buy
You will need:
- Mortgage approval from a lender or financial institution.
- A downpayment available. (The percentage you will need depends on your mortgage approval.)
2. Find your home
There are property listings on this site, presented by Luke Mori and other REALTORS®.
Another comprehensive option is the realtor.ca website, which has even more listings in the area.
Can’t find what you are looking for? You can speak with Luke and discuss many options for finding your next home.
3. Make an offer
Luke will walk you through the process, including all the things to consider in making an offer:
- Do you need offer conditions, such as a period of time to get approved financing?
- Is a home inspection required?
- Are there any specifics or extras you want included in the purchase?
If you are a first time buyer, there may also be money saving opportunities that Luke can advise you on.
4. Legal work
Once you have an offer accepted, there are legal steps that will require a lawyer. They include:
- Handling legal documents and title transfer
- Land transfer tax that may be payable on possession day
- GST applicability
- Handling your deposit
5. Taking possession
On the day of possession, you will:
- Meet with your lawyer
- Sign the legal documents
- Forward funds for deposit
- Sign your mortgage commitment documents
and… get the keys to your new home!
Luke can guide you through the whole process. He has helped many first time buyers and experienced buyers alike in finding their Nelson and Kootenay home.
Here are a few links to assist you.
- First Time Buyer’s Guide – http://www.remax-western.ca/first-time-buyers-guide
- Condo Buyer’s Guide – http://www.remax-western.ca/condo-buyers-guide
- Before Writing an Offer – http://www.remax-western.ca/writing-offer
- Mortgage Calculators – http://www.remax-western.ca/calculators
- RE/MAX Space Planner – http://www.remax-western.ca/remax-space-planner
- RE/MAX Advantage – http://www.remax-western.ca/remax-advantage
- 6 Mistakes Buyers Make – http://www.remax-western.ca/6-mistakes-buyers-make
- Real Estate Glossary – http://www.remax-western.ca/real-estate-glossary
Contact Luke with any questions, or to get advice on your next step.
"Luke was a wonderful resource and asset for us as we strived to purchase a home in Nelson's competitive market. He was always very responsive to our questions and had good insight and ideas when it came to coming up with creative solutions for our housing needs. After a year of working with Luke we are living in our dream home. Thank you Luke!"
- Jasmin C, successful home buyer, 2018
Offered at $2,950,000
2 bedrooms, 2 bathrooms
Offered at $1,120,000
1 bedroom, 1 bathroom
Offered at $929,000
Nelson Real Estate News
Aug 23rd, 2018
Home sales were just below the all-time record for July, set 11 years ago. More »
Jun 29th, 2018
CREA says market fundamentals remain strong, but many markets continue to struggle "in the face of policy headwinds". More »
Jun 4th, 2018
The Nelson Star reports on the competitive, low-inventory market driving prices higher. More »