When you purchase a home, you’re legally entitled to visit the property before it closes. The amount and length of these visits are written into your offer and are up for negotiation prior to the final signed agreement to purchase. The purpose of these visits is to help you prepare for your upcoming move, and to get a longer amount of time to take a really good look at the home. Whether you’re gearing up for your first buyer visit, or just planning ahead, I’ve put together a list of our most commonly asked questions about buyer visits to help you better prepare.
How many visits do I get?
Two to three one-hour visits are common, but you can choose to add more or less when offering on a home. If your closing is long, you may want to increase the number of times you’ll be able to visit. If you’re planning on doing some work to the property before moving in, you may want more visits than usual to meet with various contractors. The timing of the visits will be coordinated with the sellers to make sure it’s a time that works best for everyone.
What can I do during these visits?
The first visit can be really exciting, finally stepping back into the property that will be yours very soon. More often than not buyers like to use the first visit to show the house to immediate family members. If you do bring family orf riends, you want to make sure you are still getting the most out of the visit. Take a good look around to see if there is anything you hadn’t noticed before, take note of paint colours, and measure doorways and spaces for your furniture.
Is there anything you would like to do before your move that you can plan for? The first or second visit is a good time to start getting quotes and booking with contractors. You can’t do any work to the property until after it closes, but you’ll want to get those quotes and things booked sooner rather than later so that the work aligns with your closing. You can usually get away with bringing 2-3 contractors per visit. You want to be able to focus on each one when discussing potential work with them, so start with the contractors that book up first or require a longer lead time to order the materials you’ll need.
We recommend saving the last visit for 1-2 days before closing so that you can ensure the house is in the same condition that you bought it in. Check for things like holes in the walls from moving furniture and if everything is in working order. You can also verify that all of the fixtures and other items that are supposed to stay with the property as per the agreement are still there, and that nothing else has been added, either.
Will the seller(s) attend the visit?
Buyer’s visits are typically treated like a regular showing and the sellers are not usually present. If you have questions about how things work on the property that can’t be conveyed via e-mail you can always ask the sellers to attend one visit so that they can show you around. For a turn-key property you probably won’t have many questions, but if you are buying an older home, it’s a good idea to ask the sellers to give you a tour. They’ll probably have a lot of great information for you.
Are there any other visits I need to consider?
Lenders often require appraisals when a borrower is seeking a mortgage or refinancing, as they want to ensure that the property is worth the loan amount. The appraisal report typically includes details about the features, a comparison to similar houses in the area, and an overall valuation of the property. The appraiser will book a formal visit to the property, but this does not count towards the overall number of buyer visits you are entitled to and you don’t have to attend this visit.
Do you need an agent to go with you?
In Ontario, the buyer's realtor is required to be present for all visits to thep roperty by the buyer (except for an appraiser who can be unaccompanied). If your agent is unable to attend, they can ask a colleague, someone licensed and trusted who shows properties in their absence, to attend the visit with you. Remember, even though you have purchased this property, the house, and its contents, are still owned by the seller until closing so it’s just better for everyone that a licensed agent is present.
If you’re a buyer or have recently purchased, these visits might sound somewhat overwhelming but don’t worry, they are actually really fun, especially the closer you get to closing. If you ‘re planning your move and want to know how to maximize your buyer visit’s, please reach out. I’d be happy to strategize with you on how to get the most out of your visits.
