Before we start touring homes, there are a few important steps to take care of. These help me understand what you're looking for, make sure you're financially prepared, and ensure you understand how I'll represent and protect your interests throughout the buying process.

Here's what we'll need to get started:

1. A conversation about your home search. Ideally, we'll meet in person, but a phone call works too! We'll talk about your goals, preferred neighbourhoods, must-haves, dealbreakers, budget, and timeline. The better I understand what matters to you, the better I can help you find it.

2. The RECO Information Guide. Ontario requires real estate agents to provide and explain this guide before providing services or assistance. You'll be asked to acknowledge that you've received it and had it explained to you. It outlines your rights, your options for representation, and what to expect when working with a REALTOR®.

3. A Buyer Representation Agreement. If you've decided to work with me as your REALTOR®, we'll review and sign an agreement outlining our working relationship, the services I'll provide, the duration of our agreement, and how compensation works. No surprises or fine print left unexplained.

4. Photo identification and some background information. Real estate professionals have legal obligations to verify client identities and collect certain information, including details about your occupation or employment. I'll walk you through what's needed and why.

5. Mortgage pre-approval or proof of funds. If you're financing your purchase, you'll want to speak with a mortgage professional to establish a comfortable buying budget. A pre-approval helps us focus on homes within your financial reach and puts you in a stronger position when it's time to make an offer.

Can we just go look at a house first?

I understand the excitement of finding a home online and wanting to see it right away! But professional real estate representation involves more than unlocking doors.

Before arranging private showings, I ask that we complete these initial steps. It's about making sure you're informed, prepared, and genuinely ready to move forward when the right home comes along.

My goal isn't just to help you find a house. It's to help you buy the right one, with confidence.

Congratulations! Your offer has been accepted. Often the first thing you'll need to do is pay your deposit.

In Ontario, the standard Agreement of Purchase and Sale often provides that when a deposit isn't submitted with the offer, it's due within 24 hours of the offer being accepted by all parties. Your agreement will specify the actual deadline, but it's important to be prepared to move quickly.

Your deposit is typically held in the listing brokerage's real estate trust account until closing, when it's credited toward your purchase price.

How do I get the money to the listing brokerage?

Every real estate brokerage has its own procedures for receiving deposits. Most don't accept cash, and many no longer accept personal cheques. e-transfers, bank drafts, and wire transfers are common acceptable methods.

Your REALTOR® will generally provide you with the listing brokerage's deposit instructions, outlining acceptable payment methods, where to send the money, and who the deposit should be payable to. Always check with your agent that the funds are going to the correct place and don’t send money requested by anyone else, especially if requested by email (fraud prevention!).

Common Option 1: Wire Transfer

A wire transfer is an electronic transfer of funds directly from your bank account to the brokerage's trust account.

You'll receive the brokerages financial institution, account details, and information needed to identify your deposit. Your bank can help you arrange the transfer.

A few things to know:

• Your bank will generally charge you a fee to send the wire.

• The receiving brokerage may also charge an incoming wire fee, often around $15–$25, which you'll need to add to your deposit amount if instructed.

• For example, if your deposit is $15,000 and the brokerage requires an additional $25 receiving fee, you would arrange to wire $15,025, plus whatever fee your own bank charges.

• Wire transfers aren't always instant. Ask your bank about processing times, particularly if you're working with a 24-hour deadline.

Important: Always verify wire instructions using a trusted phone number for the brokerage before sending funds. Never rely solely on banking details received by email, as real estate transactions can be targets for payment fraud.

Option 2: Bank Draft

A bank draft is a payment document issued by your financial institution using funds that are withdrawn from your account when the draft is purchased.

Unlike a personal cheque, the funds are secured by the issuing bank, making a bank draft a commonly accepted method for real estate deposits.

Depending on the listing brokerage's instructions, you may be able to:

• Deliver it directly to the listing brokerage. During business hours, the receptionist or authorized staff member can typically accept your draft and provide a receipt.

• Deposit it directly at the brokerage's bank. Some brokerages allow you to take the draft to a branch of the financial institution holding their trust account. A teller can process the deposit and provide a transaction receipt.

Bank drafts are generally more secure than personal cheques, although financial institutions may still apply verification procedures or holds.

Which method is best?

That depends on the brokerage's requirements, your bank, and how quickly your deposit is due. I'll help you review the instructions and choose the most practical option.

Whichever method you use, keep your receipt or proof of payment and send a copy to your REALTOR® so we can confirm the deposit has been received.

One last tip: Don't wait until your offer is accepted to figure out where your deposit money is coming from. Know how much you can access, whether you'll need to move money between accounts, and how quickly your bank can issue a draft or process a wire.

A little preparation now can make those exciting first 24 hours after acceptance a whole lot easier!