Pre-approval tells you a realistic price range before you fall for a floor plan, and it also confirms how a First Home Savings Account or the Home Buyers' Plan withdrawal, up to $60,000 per person from an RRSP, fits into your down payment.
Once you have a target unit or lot, your agent reviews the purchase agreement, the deposit schedule and the new home warranty terms, since those documents protect you in ways a walk-through of the show suite does not.
From there a lawyer, typically $800 to $1,500 for a residential file, handles the title search and closing through Information Services Corporation, and confirms whether mortgage insurance and its Saskatchewan PST apply based on your down payment size.
Get your hand-reviewed valuation from Joel Dyck.