BUYING TIMELINE

Purchasing a home anywhere, especially a fast market like Vancouver, can be confusing and overwhelming. Here’s a rough timeline of events to help you make sense of the entire transaction and what happens when.

1

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.

2

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.

3

WRITING AN OFFER

It’s a good idea to write an offer immediately once you find the one that’s for you.

4

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.

5

INSPECTION

Any inspections you wish to do should be booked immediately after the offer is accepted.

6

1 to 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

- Book a Moving Truck it’s a good idea to book the truck as soon as you know your moving day.

7

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.

8

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.

- 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.

9

CLOSING DATE

- 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.

10

1-2 DAYS AFTER CLOSING

Possession Date At 12 noon you will be given the keys and can begin to move in.

Buying FAQ

Get all your questions answered

 BUYING FAQ

Get all your questions about buying real-estate in Vancouver or other parts of the lower mainland answered here.

Daily Buyer Search

Do You Know About Every Home for Sale?

 Daily Buyer Search

Be among the first to know about new listings and get the advantage over other buyers.

Buying Timeline

Curious about when everything happens?

 BUYING

TIMELINE

Let us walk you through the entire timeline of the buying process. We make it easy!

Why use a Realtor?

Using a realtor means you'll have a huge advantage!

 WHY USE A REALTOR?

There’s so many reasons to use a realtor, especially in a market like Vancouver.

Mortgage Application

All the steps you need to know.

 Mortgage Application

From the pre-approval process to picking the best mortgage.

Mortgage Terms

Don't get confused by all the lingo.

 Mortgage Terms

Confused by all the lingo? Let’s break down all the terms.

THE ADAM WAHED EXPERIENCE

Working with our Vancouver Realtor, Adam Wahed, means that you can expect a lot more from your realtor than you normally would. What does this mean? How about a 60-Day Guarantee to sell your home? Professional photos designed to present your home in the best way possible. Free staging, and a free moving service when you sell with us. That’s just the start.

PROPERTIES

Find real-estate properties in Vancouver, Burnaby, New Westminster, Langley, Richmond, Coquitlam and the rest of the lower mainland.

SEE AVAILABLE PROPERTIES

SELLING

Selling your home or investment property comes with its own set of challenges. The Adam Wahed team has the experience to get you through these with ease.

LEARN MORE ABOUT SELLING