Purchasing a home

Purchasing a home can be overwhelming- there is a lot that goes into purchasing a property. The Kore Team helps every step of the way to make the purchasing process exciting and enjoyable.

Some things to consider before purchasing:

1. Get pre-approved!

We recommend buyers reach out to at least 3 mortgage brokers, lenders or banks before starting your search. The pre-approval process will help you get an idea of your budget. Additionally, lenders can lock in a current interest rate at the time of the pre-approval, this is especially helpful now while interest rates are speculated to rise again. Not all lenders offer the same interest rates, by sitting down with multiple lenders and brokers you can do yourself the service of ensuring you are getting the best rate. Don’t have a mortgage specialist in mind? We can help put you in touch with one of our preferred & proven professionals.

2. Work with a Buyer Representative (Realtor)!

If you are embarking on the task of trying to find the best property suited to your needs, it helps to have someone in your corner. The most common mistake we see is a buyer going directly to the listing agent. If you do decide to use the listing agent there is a good chance you will end up in a multiple representation situation. This means the realtor owes both the buyer and seller the same fiduciary duties. And because they have to work on behalf of both parties, they fall into a position where they are really only able to facilitate the deal.

As a buyer you want your Realtor to negotiate price, research the specifics of the property and ensure that your deal is structured to satisfy all of your needs and wants. The Realtor who works on behalf of the buyer is paid through the selling agent, so why not capitalize on the free service? There are a few exceptions to this which would always be explained prior to signing a buyer representation agreement.

3. Searching for the Right Home.

In the most current market properties move quick! Realtors watch the local markets and insight into upcoming listings. If something comes up matching your search criteria, your Realtor will know before the listing goes out the general public.

Pre-defined searches and automatic emails matching your search criteria ensure you will receive notification of properties matching your search criteria as soon as possible. If you are looking on realtor.ca you may not catch a listing in time. The hardest thing is missing out on the property you have been waiting for before even knowing it was for sale.

4. The Conditional Sale.

Most deals have conditions (contingencies) tied to them before the deal ‘firms up’. In short, a price is agreed upon between both parties, but the buyer needs some assurance prior to signing off. The most common conditions are financing and home inspection. Other common conditions include status certificate reviews (for condominiums), lawyers approval and the sale of a buyers property. Outside of these a deal can be tailored to include any condition that would be necessary in obtaining information prior to being fully committed to the purchase of that property. During the conditional period these conditional items are reviewed and generally the buyer has to be satisfied that the condition has been met. Once the buyer is satisfied with the outcome of the condition (ie. a home inspector provided a report which the buyer reviews and are comfortable with), the realtor then creates a “notice of fulfilment” which alleviates the condition. The deal then becomes firm once all conditions are fulfilled.

Closing a home
How to do a title search on new home

5. Title Search

The majority of time between the end of the conditional period and the closing date is spent waiting. During this time the title search is completed by the buyer’s lawyer. They are looking for, but not limited to, clouds on title, encroachments, encumbrances and outstanding permits. For the most part, titles are usually clear, if not, these items need to be rectified prior to closing.

6. Closing Date

This is the big day you’ve been waiting for. The lawyers close the deal and the keys are picked up at the real estate brokerage or lawyers office.


** This is only a guideline of how the process unfolds. There are many variables which can occur, it makes life easier when you have a knowledgeable realtor in your corner to ensure the process goes as seamless as possible.

The Kore Team assists from beginning to end!

Information of closing your home

Have more questions?

We'd love to talk to you!

If you have any questions regarding buying or selling a home in Southern Georgian Bay, We’d love to help. Whether is a specific question regarding a property, a deep dive on the current market, or just a friendly hello, The Kore Team is Here to help!