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Deciding to Buy

Before you start your search for the perfect home or investment property in the Niagara Region, here’s a rundown of the home-buying process:

Deciding to buy

First, clarify your reasons and priorities in buying a home. Are you looking for a bigger home for your growing family? Should you be in an area nearer to your place of work? Do you want a change in your environment and lifestyle? Asking yourself these questions will help you narrow down neighborhoods and properties to choose from.

Knowing your financial status and capability is also a must. Has your income grown? Do you have a good credit score? It’s crucial to set realistic expectations on how much house you can afford in the current market, as well as its potential resale value in the future.

Preparing to buy

Buying a home comes with various paperwork and processes. To avoid any complications or setbacks later in your home-buying journey, our real estate team can help you:

  • Decide on the right time to buy. We know the Niagara Region real estate market like the back of our hand. With our keen insight into current housing trends and the latest local market data, we can provide informed recommendations on the best time to place an offer. Our experience and negotiation skills, meanwhile, allow you to lay down the most competitive offers in the market.
  • Settle for the right budget. An online mortgage calculator can help in getting general estimates to help you plan for your budget but it may not be capable of providing an accurate picture of reality. Our real estate team can connect you with trusted mortgage lenders who can give you a financial assessment or credit report. We can also help you file for a mortgage pre-approval, which can give you leverage over other competing buyers.

Shopping for the perfect home

Once you have your mortgage pre-approval in hand, you can proceed with shopping for the perfect home.

As your real estate agents, we can help you narrow down your search to a few select properties that address most of your housing wants and needs. We will also assist you in gauging these properties’ long-term resale value and schedule walkthroughs and showings so that you can assess them virtually or in person.

Going through escrow

After finding the perfect home and convincing the seller to accept your offer, both you and the seller will be signing an initial agreement and a deposit needs to be made. Both will be held in an escrow account by a third-party closing agent until all the conditions and contingencies in the contract are met. This includes:

  • Home inspections and repairs. Having a licensed property inspector assess the home ensures that there are no structural issues or hidden hazards in the property before closing. Results from the home inspection can also help you renegotiate some terms in the contract, such as the sale price or having repairs shouldered by the seller.
  • Appraisal and lending. Before approving your mortgage loan, your lender will order an appraisal of the home to determine if its current market value coincides with its sale price. They may also require you to secure insurance for the property.


After a final walkthrough inspection of the home, both parties will then sign a settlement statement. This document outlines all the financial transactions in your home purchase. The funds will then be released from escrow, and the ownership of the property will be officially transferred to you.

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    Biagi Pasquale Real Estate
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