At this point in the process, you will determine your Shared Home Ownership partner. When some potential partners have been identified, we can arrange a meeting so that you can meet face to face with other clients who have met the requirements to qualify for a mortgage, and have many of the same priorities that you have identified. At the meeting, both parties will have an opportunity to interview the other, to determine if a match is possible.
Next, it’s time to start looking for a suitable home!
Once you have found a Shared Home Ownership partner, you and your potential partner can discuss the basic points of the legal agreement.
- We will introduce you to our exclusive listings that will be specifically designed for this program
- Here are some examples of homes with suites in the Greater Victoria area: Homes-with-suites
- Once you have chosen a suitable property, we can view the property with you and your new Shared Home Ownership partner
- If you feel this is the home for you, we will assist you in writing up an offer with conditions under the guidelines of the Customer Relationship set out in Working With a REALTOR®
- We will work with you to set up a home inspection and get a mortgage approval on the property
- You will also want to set up the final draft for the separate legal agreement that will state the percentage of ownership, what areas of the property will be common or private, how much you feel will be required per month for upkeep.
The next step in the process will be closing the sale.