Once your offer gets the green light, the North Vancouver buying process becomes like a fast-forwarded movie. It’s exciting, but there’s a lot happening in a short time. Timing is key, and staying on top of the following is critical to landing smoothly on closing day.
1. Schedule the home inspection.
First things first, get your home inspection scheduled. And don’t delay! This step is crucial for uncovering any hidden issues with the property. Need an inspector? We can help with that!
2. Do your due diligence.
Remember, it’s your responsibility to understand everything about the property, the neighborhood, the strata, and anything else that could impact your experience of living there —before you sign on the dotted line and remove subjects. Not sure where to start? We can help with that!
3. Meet with your bank or mortgage broker.
The clock’s ticking, and it’s time to get serious about finalizing financing for your new home. Find a lender willing to work hard for you. You will need to pull together all the necessary financial data and documentation in order to complete the number-crunching marathon. Need a mortgage broker? We can help with that!
4. Remove subjects and pay the deposit.
Next up, it’s time to remove subjects and go to the bank to pick up your bank draft. The customary amount is 5% of the purchase price, but you will need to refer to your accepted offer to check the amount. You’ll have to sign the subject removal and submit a bank draft payable to your agent’s brokerage in trust.
We hope you found this info helpful—and please don’t hesitate to reach out if you have more questions about the North Vancouver buying process and what comes after ‘offer accepted.’ We want you to know exactly what to expect as you move towards your new home!