Buyer’s Timeline

1. Arrange Financing Prior to Viewing Properties

 Consult with a Financial Institution or a Mortgage Broker and have them determine how much of
a loan you qualify for
 Discuss your loan options, application process, credit bureau report, and costs
 Select the Lender that best suits your needs
 Fill out Lender’s application for mortgage pre-approval. They will require employment documentation & down payment documentation (Usually approved within 48 hours depending on Lender)
 Review mortgage terms and make sure all conditions are satisfactory to you
 Obtain Written Pre-Approval from the Lender

2. Meet with Us

 Discuss with your Realtor your mortgage qualifications & purchase specifications
 Start viewing properties
 Find your Property & make an offer

3. Upon Accepted Offer

 Once an offer has been accepted, supply your Mortgage Lender with a copy of the
Contract of Purchase & Sale, Property Disclosure Statement, & the MLS Listing
 Strata Documents may be required if Strata Property

4. Arrange Home Inspection

 Contact us with your Home Inspector’s name, number, and date & time of the inspection
 We will make arrangements with the Listing Agent to obtain access to the property
 One of us will attend the inspection and you should plan to attend as well, or at least the last hour,
and have payment for the inspector with you

5. When Purchasing a Strata Property

 We will obtain all the strata documents from the Listing Agent and forward them to you for review
as well as answer or inquire on any questions you may have

6. Finalize Your Financing

 Lender will send documents to underwriter for processing and approval
 Lender may require an appraisal on the property. Lender’s appraiser will contact the
Listing Agent to obtain access to the property
 For a Conventional Mortgage a 20% down payment is required. If putting less than 20% down,
the mortgage is considered a High-Ratio Mortgage and CMHC/GE Insurance is required
 Your mortgage lender will advise you when the mortgage is approved so your financing subject
can be removed on your Contract of Purchase & Sale

7. Subject Removal

 Upon subject removal you will need to provide a bank draft for the deposit. The deposit is held in
trust at Re/Max Sabre Realty, and goes toward the purchase price at completion
 Once subjects are removed and deposit is received the Contract is firm

8. Home Insurance

 Arrange insurance to be in place on completion date
 Note: house insurance and strata insurance differ. Strata insurance should cover any deductibles
required by strata and any improvements that have been done

9. Notary/Lawyer

 Select a Notary/Lawyer to represent you and notify us & your Mortgage Lender with the name &
contact number
 Both us & your Lender will send all documents to your Notary/Lawyer prior to closing
 Contact Notary/Lawyer’s office 1 week prior to closing to confirm appointment date to sign documents
 2 days prior to closing (Completion Date) contact your Notary/Lawyer to confirm the amount of
the bank draft required to complete the purchase and cover closing costs

10. Completion Day

 Your Notary/Lawyer will transfer funds to the Seller’s Notary/Lawyer and the Seller’s
Notary/Lawyer will clear off any financial charges so that your name and mortgage can be registered
on title at Land Title Office

11. Possession (Celebration) Day

 On Possession Day we will provide you with the keys to your new place!