The Buying Process
The Home Buying Process: A Step-by-Step Guide
Welcome to your complete, step-by-step guide to buying a home in Edmonton. This process can seem complex, but when broken down into a clear sequence of steps, it becomes a manageable and exciting journey. This guide will walk you through each of the 9 stages from start to finish.
Step 1: The Financial Foundation
Before you look at a single home, the first step is always to get your finances in order. This means understanding your budget and securing a mortgage pre-approval. A pre-approval from a lender or mortgage broker is the “golden ticket” that proves you are a serious buyer and tells you exactly how much you can afford.
- Guide to Mortgage Pre-Approval →
- How Much Down Payment Do I Need? →
- What Income is Needed to Buy a Home? →
Step 2: Assemble Your Expert Team
A successful home purchase is a team effort. The most important member of your team is a qualified Buyer’s Agent. A great Realtor® costs you nothing (as they are paid by the seller) and acts as your expert guide, negotiator, and advocate throughout the entire process.
Do I Need a Realtor to Buy a Home? →
Step 3: Define Your Search Criteria
Now it’s time to get specific about what you’re looking for. This is where you clearly define your “must-haves” versus your “nice-to-haves.” This crucial step brings focus to your search and prevents you from wasting time on unsuitable properties.
Step 4: Explore Edmonton’s Neighbourhoods
With your budget and criteria set, you can start exploring the communities that are the best fit for your lifestyle. The right neighbourhood is just as important as the right house.
Step 5: The Home Search & Viewings
This is the active phase where we start viewing properties in person. It’s important to look past the surface and evaluate each home objectively. Knowing what to look for can save you from potential problems down the road.
What to Look For When Viewing a Home →
Step 6: Make a Strategic Offer
You’ve found the perfect home! Now it’s time to craft a winning offer. A strong offer is a combination of price, conditions, and a possession date that are compelling to the seller while protecting your interests.
Guide to Making a Winning Offer →
Step 7: The Conditional Period (Due Diligence)
Once your offer is accepted, you enter the conditional period. This is your opportunity to conduct your due diligence, which primarily involves a professional home inspection to get a detailed report on the property’s condition.
Step 8: Prepare for Closing
When all conditions are met, the deal becomes firm. In the weeks leading up to the possession date, you’ll hire a real estate lawyer to handle the legal side of the transaction, including the title transfer and mortgage documents.
Step 9: Closing & Possession Day
This is the final step where the ownership and funds are officially transferred. Once the money is sent to the seller’s lawyer and the title is registered in your name, the keys are released, and you are officially a homeowner!
For a high-level overview of the entire journey, return to the Ultimate Guide to Buying a Home in Edmonton.
Common Buyer FAQs
If you have more questions or are ready to get started, you can contact us here.
Does it cost me anything to use a Realtor® to buy a home?
No. For a homebuyer, the services of a Realtor® are typically free. The commission is paid by the seller from the proceeds of the sale. This means you get full professional representation—market expertise, negotiation skills, and expert guidance—at no cost to you.
How much are closing costs for a buyer in Edmonton?
As a general rule, you should budget between 1.5% to 3% of the home’s purchase price for closing costs. This covers expenses like your lawyer’s fees, title insurance, and property tax adjustments. For example, on a $400,000 home, your closing costs would likely be between $6,000 and $12,000.
How long does it take to buy a home?
The entire process, from starting your search to possession day, typically takes 2 to 4 months. The search itself can be as short as a few days or as long as a few months. Once you have an accepted offer, the “pending” period (for financing and inspection conditions) is usually about 1-2 weeks, and the final closing period is typically 30 to 60 days after that.
What is the Edmonton real estate market like right now?
As of Fall 2025, the Edmonton market is considered balanced. This is a healthy market where neither buyers nor sellers have a strong upper hand. For buyers, this means there is a good amount of inventory to choose from, and less pressure to make snap decisions or enter into extreme bidding wars compared to a seller’s market.
How do I know what to look for during a home viewing?
During a viewing, look past the furniture and focus on the “bones” of the house. Pay attention to the layout and flow, the amount of natural light, and the condition of major components like windows, the roof, the furnace, and the hot water tank. Check for any signs of water damage, such as stains on the ceiling or a damp smell in the basement.
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