One of your conditions to purchasing a home will likely be an inspection of the home and property, to be performed by a qualified inspector. An inspection is an important part of your due diligence and a good inspector will give you a lot of good information about the property. They will be able to report to you about safety, construction and maintenance items. If your inspection report comes back with only a few manageable items then you are good to go. If the inspection report contains serious issues you can convene with your REALTOR® to plan a strategy and next steps.
Once all your due diligence is done and you are happy with its outcome the next step is to give your realtor your deposit cheque. This is generally 5-7% of the purchase price and it is placed into your REALTOR®’s Agent’s trust account. This amount goes toward the purchase price of the property.
Congratulations – you have bought a home!
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