The Blu Realty

Buyer’s Guide

Buying a home is fun and exciting. Whether you are a first-time home buyer, or a seasoned investor, having the Blu Realty team working by your side will ensure that your best interests are looked after. We will help you find exactly what you’re searching for, and we have prepared this guide to help you streamline the process and avoid pit-falls. Take some time now to understand the process and intricacies involved in this endeavour. Things can happen a lot faster than you may think so it is vitally important that you are as educated and prepared as possible. Ultimately we want your home buying experience to be happily memorable and rewarding.
The Blu Realty Buyer's Guide - Step 1: Break the Ice

This Is
Who We Are

Blu Realty

Benefits of a
Boutique Brokerage

Questions to
Ask Your Realtor

The Blu Realty Buyer's Guide - Step 2: Define Your Desires
Here’s where we discover what kind of home fits your personal and financial needs. Are you looking for a larger space for your growing family? Or an investment property? Perhaps you’re downsizing or dreaming of life on your own island.

Let's Assess
What You Want

The Blu Realty Buyer's Guide - Step 3: Get Pre-Approved
Getting pre-approved for a mortgage is key before we begin the home hunt. Knowing what you can afford helps us fine tune the search and saves everyone time. Now is the time to reach out to a trusted lender that can evaluate your current financial situation and credit history. And if you need help, we have excellent broker allies that can get you up to speed and secure the best rate. Once this process is complete, we’ll know exactly how much we have to play with.
The Blu Realty Buyer's Guide - Step 4: Choose Property Parameters
Before we hit the MLS (and the pavement) in search of your dream home, it’s important that we define your property parameters. The easiest way to begin this process is to decide on these 3 keys to finding your home.

The 3 Keys to
Finding Your Home

The Blu Realty Buyer's Guide - Step 5: View Properties
Now that we’ve clearly defined what you’re looking for, the real fun begins. Chances are you’ve already started viewing homes online. And if you haven’t, and are two great sites to get you started.

While you’re busy perusing, your Blu Agent will be scouring the MLS for your desired property. The Multiple Listings System offers the most reliable and comprehensive listing data available and has the largest pool of homes to choose from. Your agent will set you up on a ‘Search’ of this platform that will automatically email you active listings within your desired parameters.

Your agent will now begin coordinating virtual or in-person viewings of the properties that have caught your eye. This process also includes reviewing strata documents and bylaws and deep diving into the condition of the properties of interest.
The Blu Realty Buyer's Guide - Step 6: Prepare an Offer
Whether you’ve fallen for a penthouse condo or a cottage diamond in the rough, the next step is to prepare and present an offer. It’s our job to put your offering price and necessary contingencies into a formal contract. You’ll need to review this document carefully and make sure your terms are exactly as you agreed upon. We will now present this offer to the seller’s agent in person or via email, and always in the best possible light. After you’ve made your offer, the seller will have the option to accept, reject, or counter your offer. This is when the negotiations begin.
Contract of Purchase and Sale
The Blu Realty Buyer's Guide - Step 7: Negotiations
In most cases, sellers don’t accept initial offers outright. But don’t be alarmed! By making modifications to purchase price, closing and possession dates and other inclusions, deals can still be put together. Just be prepared for the negotiations to go back and forth until terms are agreed upon. You might also have to compete with other interested buyers in certain market conditions. Luckily, all of our agents have experience handling multiple offer situations in competitive market conditions.
The Blu Realty Buyer's Guide - Step 8: Remove Conditions
Removing conditions or subject removal is the process in which buyers perform due diligence on the subjects/conditions that were in the original contract. These may include subjects around financing, inspection, title, property disclosure statement, and the review of strata documents. If all looks great, your Blu Agent will then walk you through ‘removing subjects’ by filling out a subject removal form stating that you’re satisfied with the results and are committed to buying the home.

At this point a deposit is taken. This is not to be confused with your down payment. A deposit is typically 5-10% of the purchase price and is held in Blu Realty’s Trust account in good faith that you will proceed with the transaction.
The Blu Realty Buyer's Guide - Step 9: Seal the Deal
Your closing date will be negotiated in the offer. A normal close is anywhere from 30 – 90 days. Things happen quickly so this is the time to get yourself prepared for the move.
The Blu Realty Buyer's Guide - Step 10: Move On In
Your possession day and time will be clearly indicated on your contract. This is when the keys are yours and you’re free to move in. Your Blu Agent will be there to ensure the place is in good order.

Helpful Tips

We sincerely hope we’ve given you the insight and answers you need to feel confident teaming up with us for the purchase of your home.
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