From our first introduction, through detailed research, and into negotiations, I am committed to guiding you with focus and care. I love working with buyers — whether you’re from down the road, across the country, or around the world.
Before the Search Begins
Know the reasons why you’re buying and make sure it’s the right choice for you. Motivations vary — a life change, an investment opportunity, or a relocation — and each shapes the path to finding the right property.
It’s also important to identify what you want most in a property. Define your must-haves as well as your nice-to-haves — features you’d like but could live without if necessary. Clarity at this stage helps create focus and confidence.
As you tour homes, keeping track of details will help you compare options and make better decisions. Take notes, capture photos, and stay organized so you can review each property clearly.
Things to Consider:
Style: single-family, multifamily, condominiums, co-ops Condition: new, older, renovation required Resale value Number of bedrooms and bathrooms
Neighbourhood and community Making the Offer
When you’ve found the home that meets your criteria, your agent prepares a Contract of Purchase and Sale outlining the purchase price and terms of the transaction. How far below the asking price you offer will depend on comparable sales, market conditions, your financing, and the property’s condition.
A key component of the offer is the deposit — money that demonstrates your commitment to the purchase. This is different from the down payment, which is paid at closing and is typically much larger. In British Columbia, deposits are commonly around 5% of the purchase price and are held in the listing brokerage’s trust account until completion. If the transaction does not proceed because conditions are not satisfied, the deposit is returned to the buyer. However, if a buyer breaches the contract after conditions are removed, the deposit is typically forfeited to the seller.
Other details in the offer may include:
- Items to be included in the sale (such as appliances or fixtures)
- Repairs or improvements the buyer may request following an inspection
- Dates: completion date, possession date, and subject removal deadlines
- Allocation of certain transaction costs between buyer and seller
- Consequences in case of a breach of contract
Subjects add protection while finalizing the deal. For example:
- The contract may be subject to the buyer obtaining satisfactory financing approval
- The buyer may require a satisfactory home inspection before removing subjects
- If needed, the purchase can be subject to the successful sale of the buyer’s current home
While a seller may prefer fewer contingencies, they provide important safeguards for buyers.
The Completion
Completion is the final step in the buying process, when ownership transfers from seller to buyer. Before completion, buyers often arrange a final walk-through to ensure the property is in the agreed condition.
On the completion date, paperwork prepared by the real estate professionals and lawyers or notaries is finalized, funds are transferred, and the title is registered in the buyer’s name. On the possession date, the buyer receives the keys and can move into their new home.
Buying with Confidence
Purchasing a home is both a financial and personal decision, and experienced guidance can make the process clearer and more confident at every stage. Richard works closely with buyers to understand their priorities and navigate each step of the transaction with care and precision.
If you are considering a purchase in Kelowna or the Okanagan, you can reach him at richard.deacon@evrealestate.com.
The experiences below reflect the approach he brings to every client relationship.