Waiting is the hardest part of anything in life, and it’s no different in the realm of real estate. Be prepared to do some waiting once you have found your perfect home and submitted an offer through your Realty Executives agent. The down time may seem excruciating, but buying a house is a marathon, not a sprint. The length of closing periods can vary from several weeks to a few months, giving you an opportunity to take care of important business that needs to be completed before you can move ahead to the next stage.
With the assistance of your Saskatoon Realty Executives agent, you’ve crafted a reasonable offer for a home you love, and the satisfied seller has accepted it. At this point, there is typically a conditional period of 10 days designed to allow you to attend to your legal obligations as a buyer, including financing, home inspection, and any other issues. As anxious as you might be to seal the deal and move into your new place, you can benefit immensely by taking the time to make sure the whole process is done right.
Once the conditional period has elapsed and any repairs or additional negotiations have been completed, the purchase agreement will be finalized by your Realty Executives agent and the paperwork, including mortgage documents, will be processed by your lawyer. Finally, there’s light at the end of the tunnel – the real closing day, when you can take full legal possession of your new home. Your lawyer will receive funds from your mortgage lender to pay the seller and register the property in your name, while you pay all remaining costs and make sure you have your insurance in place.
Now comes the fun part. After weeks or months of anticipation, all that’s left to do is move into your new home. While it’s easy to get caught up in the excitement, you must put together a moving plan, arrange for utilities and cable, have your mail rerouted, and a variety of other tasks that come along with moving into your beautiful new home. Congratulations!