Residential Guidebook Residential Guidebook 2015 | Page 9

SE7EN STEPS TO BECOMING A HOME OWNER SHOP FOR A MORTGAGE A professional and experienced mortgage broker will help you determine how much you can afford on your new home LOAN APPROVAL Your mortgage broker will help you get approved by a financial institute. You’ll then receive an approval letter, which you’ll need to place an offer SEARCH FOR YOUR NEW HOME Find yourself an experienced real estate agent to help you in this important process, especially one who understands your needs, wants and price range. PLACE AN OFFER Your agent will be able to negotiate the best price possible. Never offer a price that you are not comfortable with SETTLE ON A PRICE Seller may accept, deny or counter your offer at a higher price, After agreement you will be able to submit a security deposit and enter into a binding contract DUE DILIGENCE Ask your realtor to refer you to a certified inspect