Auctic Invest Group - Mitchell Li & Kenneth Chan

BUYING A HOME

Whether you're a first time home buyer or an experienced investor, I'm committed to guiding you through the buying process.

There are many important questions to consider when purchasing a home. Avoid time-consuming and costly mistakes and put my experience to use.

To get the ball rolling, all you need to do is fill out the form below or simply get in touch and I will help you find your dream home!

1. Get Pre-Approved for a Mortgage

Before you start shopping, connect with a mortgage broker or lender to get pre-approved.

Why it matters:

Helps determine your budget.
Shows sellers you’re a serious buyer.
Locks in your interest rate for a limited time.

Tip:

In Alberta, lenders often require proof of income, employment history, credit score, and down payment funds.

2. Find the Right REALTOR®

Choose a licensed real estate professional who understands your goals and the Alberta market.

Your REALTOR® will:

Help you find suitable properties.
Provide market insights.
Handle negotiations and paperwork.

3. Start House Hunting

Explore homes in your preferred neighbourhoods. Consider factors like schools, commute, amenities, and future resale value.

Tip:

Make a list of “must-haves” vs. “nice-to-haves” to stay focused during showings.

4. Make an Offer

Once you find the right home, your REALTOR® will help you submit an offer to purchase.

The offer includes:

Price you’re willing to pay.
Conditions (like financing and home inspection).
Deposit amount and possession date.

Note:

The seller can accept, reject, or counter your offer.

5. Satisfy Conditions

If your offer is accepted, you’ll enter the

conditional period

Common conditions include:

Financing:
Final approval from your lender.
Home inspection:
Ensures the property is in good condition.
Condo document review (if applicable):
Review bylaws, reserve fund, and fees.

Once satisfied, you’ll remove the conditions and the sale becomes

firm

6. Hire a Real Estate Lawyer

In Alberta, you must have a lawyer to finalize the purchase.

Your lawyer will:

Review the purchase contract.
Handle title transfer and registration.
Coordinate funds between your lender and the seller’s lawyer.

7. Finalize Your Mortgage

Your lender will prepare the mortgage documents and coordinate with your lawyer. Make sure your down payment and closing costs (typically 1.5–4% of the purchase price) are ready before possession.

8. Complete the Home Insurance

You’ll need home insurance effective on possession day — your lawyer will require proof before closing.

9. Closing Day

On possession day, your lawyer transfers the funds to the seller’s lawyer. Once the transaction is registered, you’ll receive the keys to your new home!

Congratulations — you’re officially a homeowner in Alberta!