4. HOUSE HUNTING
Now that you’ve pre-qualified for a mortgage, narrowed down
your search, and picked a realtor to work with, it’s time to
start looking at listings and houses. Your real estate agent
will send you custom listings that match your criteria, and
meanwhile, you can search listings on their website as well.
House hunting will involve screening listings electronically,
previewing properties online, and then finally going out to
look at homes.
5. MAKE AN OFFER
You’ve found the right home for you: it satisfies your
wants/needs, it’s in your price range, and it feels right. We
begin by drafting the Contract of Purchase and sale and Sale
(CPS). The CPS is a legally binding document that contains
everything from the price you are prepared to pay to the
inclusions you want (washer/dryer, big-screen TV), to your
ideal closing date (the date you take possession), to
conditions that need to be met for the deal to go through.
Once you’ve submitted your offer, the seller can accept it,
reject it, or sign back a counter offer. During these
back-and-forth negotiations, you may need to compromise on
small things, but a good realtor will work hard to get you
what you want. And if you’re in a bidding war, make sure you
know the facts about Bidding Wars and How to Win in Multiple
Offers.