Complete Home Buyer Checklist: 14 Steps to Your New Home

Interview a few realtors to see if their personality aligns with yours, providing valuable knowledge and expertise.

Qualifications Your Realtor Should Have:

• Local market knowledge.
• Good reviews or testimonials.
• Financial knowledge - they can walk you through the numbers.
• Works full-time in the industry.
• Excellent time management and communication skills.
• Do they show up on time and prepared?
• Do they communicate with you in a way you understand and feel comfortable?
• Network connections - effective real estate agents rely on their relationships. Do they work with other agents regularly?
• Do they have a respected reputation in the industry and the local community?

• Compare different lenders to understand the benefits and advantages of working with each. Something as simple as a lower rate or term can save you thousands of dollars.
• Tell EACH LENDER to wait to pull your credit until you're fully committed to working with one.
• If your credit isn't where it should be, create a plan with your chosen lender.
• Your realtor may also be able to help you find someone trustworthy with whom they have worked before.

• Get pre-approved; this gives you, your realtor, and the lender an estimate of how much you can afford based on your credit score and past financial documents.
• With a mortgage pre-approval in place, you are clear on your budget and purchasing power. It’s essential to have this completed before viewing properties for sale.

• Keep your "must-haves" checklist in mind when looking at homes.
• Keep a journal or guide of the different houses you're interested in.
• Take plenty of pictures to look back at.
• Stay within your price range.
• Let your realtor know everything you do and don't like about a home so they can understand your style and needs.
• Provide your realtor with any feedback regarding the properties that you view, both positive and negative.

• Find a reputable and thorough home inspector. If you need suggestions, ask your realtor.
  • A good home inspector will help ensure you don't end up in a "money pit," for example, a property with lots of electrical, plumbing or foundational issues.
  • An inspector will also report any home issues, allowing you to ask for repairs during negotiations.
• If work is needed on the property, strategize with your realtor to submit a request for repairs.
• If you are making any additions or construction to the property, such as a pool or guest house, check with the city building department to ensure the zoning allows for those upgrades.
• Review the title report with your realtor and lawyer to ensure no known easements or liens are on the property.

• Your lender will order an appraisal on the home to verify that the market value supports the purchase price.
• Double-check that your interest rates and mortgage payments are what you agreed upon.
• Speak to your Mortgage Broker/Lender and ensure your lender has approved your file and is ready to move forward and transfer funds upon closing.

Bring everything you may need to your lawyer appointment:

• An accepted form of identification (driver's license, passport, etc).
• Sign the mortgage documents.
• Any additional payment that you may need.
• The balance of the purchase price will be processed between your lender and lawyer.
• Set up utilities for your new property, i.e. water, hydro, and gas.
• Set up all other utilities you may require, such as cable, internet and home security, so you're ready when you move in.