1. Get Pre-Approved: Start by getting pre-approved for a mortgage through your bank or recommended brokers. Pre-approval ensures a lender's willingness to grant a mortgage after reviewing your financials.
2. Define Your Priorities: Determine your property preferences, including price range, proximity to amenities, square footage, and more, based on your specific needs.
3. Find a Realtor: Choose a real estate agent who represents your best interests and specializes in your desired market. Their services are free for buyers.
4. Narrow Your Search: Use our custom Collaboration Centre online platform or others like rew.ca or realtor.ca to begin exploring properties. We can continually refine your search to send you tailored options.
5. View Properties: We will arrange tours of homes that match your criteria. It may take a few viewings before finding the right fit.
6. Make an Offer: Once you've identified your dream property, we will help you prepare and submit an offer, discussing price, conditions, deposits, inspections, and key dates.
7. Accept an Offer: If your offer is accepted and includes conditions, we will guide you through fulfilling them, such as inspections or mortgage commitment.
8. Remove Subjects: Removing subjects signifies a binding contract, making the sale legally enforceable.
9. Finalize Paperwork: On the closing date, your lawyer or notary will handle all the necessary paperwork for the transfer of funds and title.
10. Take Possession: Congratulations, you've secured your new property and received the keys!

The simple answer is no. But with all the complexities, risks, and protections an expert agent can provide, why would you not? Buyer commissions are paid by the Seller, so there is no cost to you. Also, through our licensing, continual ongoing education, and regulation under the BCFSA (BC Financial Services Authority), when you choose a full-time, experienced team like TEAM CT, you have professional, strategic guidance, access to more data, skilled negotiation, high-quality contract-writing that goes far beyond the boilerplate template, and years of on-the-ground experience with locations, buildings, developers, and more. Big money is on the line, so although we are admittedly biased (and proud!), we think you should do all you can to make a smart purchase.

Yes. It's important to confirm whether a lender will commit to providing you a mortgage AND what that means in terms of monthly and long-term costs. We know and trust the best in the industry - reach out and we'll be happy to provide you with a mortgage specialist at your preferred bank or a mortgage broker.

WHY ELSE should you get PRE-APPROVED?

1. PRE-APPROVAL is free. It starts with a quick connection with a lender (bank or broker) to get the ball rolling.
2. PRE-APPROVAL shows any home Seller that you’re serious.
3. PRE-APPROVAL demonstrates that you’re prepared.
4. PRE-APPRVOAL allows you to lock in a rate for up to 120 days, providing you stability in case rates change while you're shopping.
5. PRE-APPROVAL gives Sellers confidence in your financial ability to afford their property.
6. PRE-APPROVAL can set you apart from other Buyers, especially in multiple-offer scenarios.
7. PRE-APPROVAL may allow for a quicker closing/completion. Because the lender’s leg work is largely done already, the required time for funding the mortgage can be shorter.
8. PRE-APPROVAL makes for an emotionally easier search, as you’ll know your budget limits. Emotions almost always play a key role in a real estate decision, so don’t fall in love or tease yourself with options out of reach.
9. PRE-APPROVAL gives you the chance for a credit review. You may have done your own research on affordability and run your own numbers, but it’s not uncommon for our credit reports to have a surprise lurking. Let a lender do their process so that if this happens, you have the chance to clean it up before the critical subjects/contingency period after your offer is accepted.

PRE-QUALIFICATION

• Prediction of the amount a potential borrower can borrow
• Based upon NON-verified conversation about assets, earnings and debts
• Rarely are any details provided about the loan, but is purely a casual guide to point you in the general direction for property search budgeting
• Casual step for casual lookers, not actual shoppers/buyers.

PRE-APPROVAL

• Commitment from a lender to a potential borrower, ideally in writing
• Based on verified information like bank statements, pay stubs and tax returns
• Provides information such as loan amount, type of loan, maximum property purchase price, length of loan term, loan rate, and maybe even payment details
• Vital step to get you in to a property