Step 1  

After due diligence (research, affordability, consultations, inquiries, etc.), take a decision to buy a condo apartment, townhome, semidetached or detached home and adhere with that decision. (P.S. If you cannot reach a decision and need to consult a real estate agent, proceed with Steps 2 and 3 below, even before consulting a real estate agent. However, read through "How to Select a Reliable Realtor" published on my website to enable you to reach a decision)

Step 2       

Contact a Mortgage Broker or your favourite banker sooner than later to lock in the best mortgage rate and to obtain a mortgage Pre-Approval in writing to be able to negotiate with Seller.

Step 3    

Arrange to have money in your current/savings account (i.e. redeem your RRSP's, or arrange to transfer from your GIC's, transfer any loan/gifts from family, etc) in order to ensure you have liquid cash of between $5,000 to $10,000 in the bank. This is to be used towards paying the deposit when making an offer. (P.S. I will explain to you in person how you could loose out on a good deal if you do not have ready money in the bank to be paid as a deposit).

Step 4     

Engage and authorize a licensed Real Estate Agent to find you a home that meets your criteria (i.e. do you want a condo apartment, or townhome, or semi/ detached home; how many bedrooms/washrooms; do you want a garage, finished basement, large backyard, swimming pool, etc.?) with your authorization to provide you with answers to your questions and to investigate details about the property you like, including prices, location, etc. This authorized agent should provide you with necessary information, including:

a)    Home Buying Tips (i.e. type of home, age of home, location, etc.)

b)    Various financing options including "special cases" of those who may not have a job or even a credit history.

c)    Monthly costs of owning a home and closing costs.

d)    How to avoid real estate scams and title fraud.

e)    Information about schools in the area, admission formalities and whether busing is provided.

f)     Information about public transit, etc. near the home.

g)    All pertinent information about:

i)        Jobs in the area, businesses for sales, home based businesses, etc.

ii)      Procedures for validating credentials and information on professional licenses.