Buying Tips

Buying a property is a big decision...

and following the right steps is very important if you want to ensure a smooth process with few issues, if any. Here is a checklist of steps that you can take when looking to buy your dream property:

1. Figure out how much house you can afford.

Calculate your monthly income and debt.
Use our Mortgage Calculator.
Figure out your down payment.

2. Get pre-approved for a mortgage.

Choose a type of mortgage.
Speak to at least three lenders/mortgage brokers.
Shop for the best interest rates and programmes.

3. Determine what you want and need in a home.

Fill out the form in My Dream Home and we will send you a form to complete which will help you decide.

4. Research your target neighbourhoods.

Drive by and get a feel of the environment.
Ask residents for information on schools, crime rate, flooding and traffic.
Determine your work commute route.
Scout local amenities, such as parks, supermarkets, shops, restaurants and petrol stations.

5. Work with a real estate agent who knows the neighbourhoods.

Consider working with one real estate agent exclusively.

Fill out the form in My Dream Home and we'll be happy to assist you.

6. Search for homes on our Island Style Realty website.

Browse listings online, including Cariblist.com.
Check local newspapers.
Ask your agent to set up tours of homes that fit your criteria.

7. Research each home you want to buy.

Ask your agent for comps to estimate the property's fair market value.
Ask to see the line marks/boundary marks.
Ask the seller's reason for selling.
Ask the seller for termite treatment history and a copy of the treatment certificate.
Review all property disclosures.
Find out about liens, easements or other restrictions.

8. Make an offer and negotiate.

Determine the purchase price.
Include contingencies, such as financial, inspection or purchase.
Spell out any special requests and repairs you want included in the sale.
Determine an earnest money amount.
Define a move-in date.
Once both parties agree to the terms, sign the Purchase and Sale Agreement.

9. Finalise the deal.

Hire an attorney.
Get the house appraised. Click on Property Valuation and we will conduct one for you.
Get a professional home inspection.
Consider getting specific inspections for electrical systems, structural engineering, roof and termites.
Choose a home insurance company.
Complete the loan process with the lender.
Do a walk-through inspection prior to closing.
Set aside cash for the closing costs and down payment.