Step-By-Step Guide to Buying a Home in Alberta

Step-By-Step Guide to Buying a Home in Alberta

Buying a home can feel overwhelming if you have never done it before. Here is a simple, clear breakdown of what the process looks like from start to finish in Alberta.

Step 1: Get Pre-Approved
A pre-approval helps you understand your true price range, your estimated monthly payment and what you qualify for. This also helps your offer look stronger when you find the right home.

Step 2: Start Your Home Search
Your agent sets up a personalized search based on your budget, preferred areas and must-haves. You will receive new listings, price changes and sold data so you can see what is happening in the market.

Step 3: Book Showings
This is your chance to see homes in person, compare layouts and get a feel for different neighbourhoods. Most buyers refine their wish list during this step.

Step 4: Write an Offer
When you find a home you like, your offer will include:
• price
• deposit amount
• conditions such as financing, inspection or condo documents
• inclusions
• possession date

Step 5: Condition Period
Most offers include time for:
• financing approval
• a home inspection
• condo document review if the property is a condo or townhome
This period ensures the home and your financing are in good shape before committing.

Step 6: Firm Sale
Once conditions are removed, the contract becomes firm. At this point, both the buyer and seller are committed to the sale.

Step 7: Lawyer and Lender Finalize the File
Your lawyer reviews title, taxes, the RPR or title insurance and the lender’s instructions. They also calculate your closing funds, including the remainder of your down payment and any adjustments.

Step 8: Possession Day
On possession day, the lender sends mortgage funds to your lawyer. Once the lawyer confirms everything is complete, keys are released and you can take possession.
A walk-through is not automatic in Alberta. If the buyer wants one, your agent can include a pre-possession walk-through term in the contract, usually 24 to 48 hours before possession, to confirm the home is in reasonable condition.

If you ever have questions about the buying process or want help getting started, I’m always here.