This is a very important first step in the home buying process. The initial consultation is to ensure they know exactly what you’re looking for.
- Determining a list of needs and wants, your preferred neighbourhood, what type of home, number of bedrooms and baths and any other buyer criteria.
- They will also go over the costs involved in buying a home, the offer and negotiation process and ensuring your best interests are looked after.
- Getting preapproved should be done before you start shopping for your home.
- The Ritchie team can provide you with a trusted mortgage specialist within your bank or a mortgage broker.
- The preapproval process allows you to know the price range you are shopping in. If you are not quite ready for purchase a mortgage specialist can provide you with a plan to ensure you can purchase in the future.
Listing Alert System
- Once there is a clear understanding of what you’re looking for in a home, an automated search can be set that will provide you with priority access to all new listings.
- Through this alert system you will be able to see any new listings or price reductions that are done.
- They will review the properties with you and determine which ones best suit your needs and wants.
- Showings will then be organized organize for each property that you would like to view and provide you with a listing sheet for each along with the pros and cons of the neighbourhoods.
Preparing For An Offer
- Once you find the perfect home an offer will be drawn up. Market research needs to be done at this point in order to ensure you get the best price for your home.
- Specific conditions will be inserted to the offer typically financing, insurance and inspection along with any others that are needed for that particular home.
- It is imperative to have a professional negotiate and draw up the conditions for your offer to ensure your interests as a buyer are protected.
- Once the offer is accepted, you typically have 1 week to complete the conditions sometimes 2 depending on the type of home. The Ritchie Team works with a team of qualified professionals to make this a smooth process and ensure the conditions are completed on time.
Inspections and Repair Negotiations
- Inspection is the number one reason deals fall through and it is a mandatory condition needed in an offer no matter the age of home. It is very important to have a qualified home inspector to ensure they find any and all issues with the home.
- Often during the home inspection process minor and sometimes major repairs will come to the surface. When there are major repairs needed you have the option of negotiating a price reduction, having items repaired or backing out of the deal completely. This stage is extremely important to have a professional working for you to ensure you don’t take on any major repairs with a home which can be very costly.
- This is the second stage where negotiations are needed and is imperative you have a professional doing this for you. They will provide you with quotes from qualified professionals for the work that is needed to be done in order for you to make an informed decision.
- An amendment to the agreement will be drawn up in order to ensure the items needing attention are fixed prior to your move in date by a professional with receipts provided. It is important to have a professional draw up the amendment to ensure your interests are protected and it doesn’t leave you liable for any of the issues.
- The closing process is another important step prior to your move in date. They will work closely with the lawyers to ensure there are no legal issues with the home.
- A final visit is made to the home at this time to ensure it is left clean and all the inclusions that are in the agreement are still there. If there are any issues at this stage they will request the lawyer to hold back money from the seller until the house meets the proper standard.
After Sale Service
The Ritchie Team believes it is very important to stay in touch with their past clients and to be a resource for any future real estate needs. If requested they will inform you of neighbourhood sales, provide you with an updated market analysis of your home or suggest professional home service providers for any repairs or upgrades. The Ritchie Team appreciate being a trusted resource to their clients and enjoy staying in touch.