Buying a Home?

The first step in the purchasing process is to work with a mortgage broker to procure prequalification for a mortgage. To determine your eligibility for a mortgage, the broker will calculate your TDSR (total debt service ratio), this will also aid the broker in determining the maximum property value that you can secure. Click here to learn more about prequalification.

Once you’re prequalified for a mortgage, we meet to discuss your property needs and wants as well as your concerns. We’ll also begin educating and acquainting you with the transaction and its processes in order to proceed to the agreement with confidence and knowledge.


The client agreement is a Real Estate Council of Alberta mandate procedure to legally establish the real estate relationship and to ensure that the professional’s role is clear. A legal agreement protects both the buyer and the professional, preventing confusion and disputes. In addition to signing an agreement with your REALTOR® , you will may also have agreements with your mortgage broker, or property manager. Learn more about the buyer’s agreement here.

To begin finding your property, your agent will set you up on an MLS (Multiple Listing Service) search that matches your criteria. The MLS is the system all real estate associates use to list and find properties, it is run by CREA through the RAE (REALTORS® Association of Edmonton).   When an agent puts a listing on the MLS, it immediately uploads to our MLS system giving all licensed agents access to the listing. (Note: realtor.ca and other sites go through a vetting process before they are allowed to post it on their site which can be up to 24 hours). Agents have the ability to give you, the clients, direct access to this MLS system in an auto-notification format which uses your search criteria and automatically emails you and your agent notifications in real time once a property is listed on the MLS. You can then vet the properties, creating a shortlist of properties. Your agent will then check availabilities and book appointments for viewings.

When you are ready to make an offer on a property, we will complete a legal form called a “Residential Purchase Contract.” A contract between the buyer (you) and the seller, your agent will assist you in evaluating the property to ensure that its list price is consistent with the current market value. To determine the market value, your agent will pull similar recent sold properties in the same area through the MLS system and compare sale price to the potential property, making necessary adjustments. Once you and your agent have decided on your offer price, you will write the offer together. Going through the contract with you in detail, your agent will ensure that you are comfortable and confident with the property and your offer.

Key components of the offer include chattels (un-attached goods included in the sale), possession date (the proposed date that title will be transferred and keys will be released), deposit (held in trust), conditions (conditions on the contract and date that they must be met by); terms (a term is when a party must perform a specific task within a specific time frame, failure to do so will typically result in a monetary reparation), and acceptance (when all parties agree to the contract in its entirety, acceptance is signed).

Once you’ve submitted your offer, the seller will accept it, reject it, or counter it. If it’s countered, this is where negotiations begin. A seller usually counters asking for more money, to change the closing date, or because your conditions are unfavourable to them. During negotiations, your agent will help you to make the best decisions without compromising too much. Also important to note: by countering your offer, the seller has released you from your original offer and you may walk away if the deal isn’t amenable to you.

As a buyer, you may place conditions on your offer in order to meet any of the following needs: securing financing, obtaining a satisfactory inspection of the property, selling your current home, or confirmation of renovation costs. On your offer, you indicated a conditions date on the contract, once this date has passed, all conditions must be met to proceed with the sale. Once the conditions are met, a waiver is signed and you have officially purchased your new home.

The reason you started the entire process if finally here! All your hard work has paid off and you are offically now a home owner.

 A possession date was agreed upon in your accepted offer, this is the date that the keys are handed over to you and you can begin moving into your new home.