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The steps involved in buying a property
Could this property be “the one”? Here’s an overview of the steps involved in becoming the owner. These steps and the legal implications remain the same whether the property is purchased from an individual or through a broker.
One of the first things to do when looking for a property is to get a mortgage preapproval from a financial institution. The goal is to determine borrowing capacity, and as a result, the price range to be looking in.
The property suits the budget and needs? Time to submit an offer to purchase! This document sets out the price, the elements included in the sale, the possession date, the conditions of purchase and all other information relevant to the sale.
The offer to purchase generally includes conditions. The most common are the property passing an inspection, the buyer providing proof of financing and the buyer selling their own property. Once the listed conditions are met, the property is considered sold.
The last step is to see a notary, who is generally chosen by the buyer. This real estate professional drafts the deed of sale and ensures that the interests of all parties involved are respected.
Once the deed of sale is notarized, the new owner gets the keys to the home. All that’s left is to move in!
See our All about buying section.
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Owners’ comments
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Original comments
Superb wooded lot of 62840 square feet bordered by a stream. Facade of 300 feet and no rear neighbors since it is backed by a zoned agricultural forest, slightly sloping so it is possible to build with a ground floor. Well located 25 minutes from Magog and Bromont, 20 minutes from Mount Orford, 40 minutes from Mount Owls Head and 60
minutes from Montreal.Superbe terrain boisé de 62840 pieds carrés bordé par un ruisseau. Façade de 300 pieds et jamais de voisin arrière puisque adossé à une forêt zonée agricole, légèrement en pente donc possibilité de construction avec un rez-de-jardin. Bien situé à 25 minutes de Magog et de Bromont, 20 minutes du mont Orford, 40 minutes du mont Owls Head et 60 minutes de Montréal.