Purchasing a new home in Ontario is a process that can rarely be done alone. Before signing an agreement to purchase residential real estate, a buyer will need to consult various professionals to ensure that the deal goes smoothly.
The first person that a prospective home buyer may need to get in contact with is a mortgage broker. Securing pre-approval for financing will help the home buyer to have an understanding about what homes they can and cannot afford. A mortgage broker may also be able to help a person secure the best possible rate and terms for a mortgage. Once an offer has been accepted on a property, the signed Agreement of Purchase and Sale must be sent to the lender for approval.
Many home buyers make a conditional offer that only becomes final after there has been a satisfactory home inspection. When this is the case, the buyer will need to hire a qualified professional to conduct a home inspection. A separate inspector may also be needed to ensure that a septic tank or well is functioning properly. If there are issues with the home that are revealed in the inspection, the home buyer may want to discuss terminating or modifying the purchase agreement with a lawyer and real estate professional.
A residential real estate lawyer can be a valuable resource for a home buyer during the purchasing process. In addition to helping the home buyer complete each step of the purchase, a lawyer may be able to help create conditional purchase agreements and handle any negotiating that needs to be done after a home inspection.
No Comments
Leave a comment