Buying a Home in Greater Moncton

Whether you're buying your first home, relocating to New Brunswick, or making your next move in the local market, this guide walks you through the entire process from getting pre-approved to picking up the keys.

I've been helping buyers in Greater Moncton since 2011. This guide covers what actually happens at each stage, what things cost, and what to watch out for. No filler, no fluff.

One thing worth knowing upfront: in most cases, working with me as your buyer's representative costs you nothing directly. My fee is typically covered by the seller's side of the transaction. You get full representation without paying out of pocket for it.

Step 1: Get Pre-Approved Before You Start Looking

The first step isn't finding a house. It's knowing what you can actually spend.

A mortgage pre-approval tells you how much a lender is willing to lend you, at what rate, and under what conditions. It also shows sellers you're a serious buyer, which matters in any market.

Before your first showing, you'll want a pre-approval in hand. I can connect you with mortgage specialists and brokers I've worked with in the area if you need a starting point.

A few things to know about pre-approvals:

They're typically valid for 90 to 120 days
They're based on your income, credit, and debt, not just what you think you can afford
Being pre-approved doesn't guarantee final mortgage approval. That comes after an accepted offer
Broker channel mortgages may carry an additional legal fee of $150 to $250 at closing

Step 2: The Property Search

Once you're pre-approved, we start looking. Before we do, I'll spend time understanding exactly what you're looking for, not just the number of bedrooms and bathrooms, but how you actually want to live.

Are you looking for a move-in ready home in Dieppe or Riverview, or land and privacy out in Irishtown or Berry Mills? A new build with a warranty, or an established neighbourhood with mature trees and character? Waterfront in Shediac, or walking distance to schools in Moncton North?

The search is different for everyone, and I treat it that way.

A few practical notes on the search process:

MLS® listings are the primary source, but not all properties hit the public market. Local networks matter
I'll help you understand what comparable sales tell us about whether a listing is priced well
For rural properties, the due diligence goes deeper. I review PID reports, GeoNB mapping, easements, zoning, and access before we get too far down the road on anything

When you find something worth pursuing, we move to making an offer.

Step 3: Making an Offer

An offer (formally called an Agreement of Purchase and Sale) is a legal document. Before you sign anything, I'll walk you through every element so you understand exactly what you're agreeing to.

An offer includes:

Purchase price: what you're offering to pay
Deposit: a good-faith amount submitted once conditions start being satisfied. Typical deposits range from around $5,000 up to 5% of the purchase price for new construction
Conditions: protections that give you time to confirm financing, complete an inspection, and review property information before the sale becomes final
Closing date: when possession transfers to you
Inclusions/exclusions: what stays with the property and what doesn't

The seller can accept, reject, or counter your offer. If there are multiple offers, I'll help you think through your strategy without pushing you into a decision that doesn't make sense for your situation.

Step 4: Conditions — Your Window to Confirm Everything

Most offers include conditions, and that's a good thing. They protect you.

Typical conditions run 7 to 10 business days and commonly include:

Financing condition: Your lender formally approves the mortgage for this specific property. Even if you're pre-approved, the property itself still needs to clear the lender's requirements.

Home inspection condition: A licensed inspector walks through the property and produces a written report on its condition. This is your chance to understand what you're buying before you're committed. I always recommend getting one unless there's a compelling reason not to.

Insurance condition: You need to confirm the property is insurable. This is usually straightforward, but some rural properties, older homes, or properties with well and septic systems can raise questions with insurers.

Once each condition is satisfied, it's removed in writing. When all conditions are removed, the sale becomes firm, meaning it's legally binding and we move toward closing.

Step 5: Between Firm Sale and Closing

After the sale goes firm, there's typically a period of weeks or months before your closing date. During this time:

Your lawyer receives the file and begins the legal work: title searches, transfer documents, and coordinating with your lender
You'll meet with your lawyer to sign the closing documents before possession day
You'll want to arrange home insurance and make sure it's effective on closing day
Notify utilities, arrange your move, and start planning the transition

I stay involved through this entire stage. If questions come up or anything needs to be coordinated, I'm a call or text away.

Step 6: Closing Day

Closing day is when ownership officially transfers to you. Your lawyer handles the legal transfer and coordinates the release of funds. Once everything clears, you get the keys.

Before closing, make sure:

Your insurance is in place and effective that day
You've done a final walkthrough of the property to confirm it's in the agreed-upon condition
You have your photo ID ready for your lawyer meeting
You know how you'll be transferring your closing funds. Your lawyer will confirm whether a bank draft or wire transfer is required

Your lawyer will call you when the transaction is registered and the keys are ready.

What Does It Cost to Close on a Home in New Brunswick?

Closing costs are the expenses beyond your purchase price that need to be paid on or before closing day. Most buyers should budget roughly 1.5% to 4% of the purchase price to cover them, depending on the scenario.

Here's a breakdown of what you can expect, based on actual quotes from Maxime Bourgeois at Bourgeois Chiasson Avocats in Memramcook, a trusted local real estate law firm. Note that disbursements can vary depending on the particulars of the property, and these figures don't include your land transfer tax, which is calculated separately.

Standard Home Purchase: Legal fees, title insurance, certificates, registrations, and HST on legal/office fees: Approximately $1,815 (before land transfer tax)

New Construction Purchase: Includes additional searches such as corporate registry, municipality by-laws, and bankruptcy/insolvency, required when buying from a builder: Approximately $1,998 (before land transfer tax)

Purchase with Conversion to Land Titles: Some older properties in New Brunswick haven't been converted from the old registry system to the modern Land Titles system. If the property you're buying hasn't been converted, this gets done as part of your purchase and it adds cost. Includes a title search and first registration application: Approximately $2,491 (before land transfer tax)

Mobile/Mini Home Purchase: Mobile homes are registered differently than traditional real estate. The process involves the personal property registry instead of the land registry system: Approximately $1,446 (note: mobile homes are typically not subject to land transfer tax)

Land Transfer Tax: This is the biggest variable in your closing costs and applies to most purchases.

New Brunswick charges a land transfer tax equal to 1% of the purchase price or the SNB assessed value, whichever is higher.

That second part catches a lot of buyers off guard. If the SNB assessment on a property is higher than what you're paying for it, you pay 1% of the assessment, not the purchase price.

Examples:

Purchase price $350,000 / SNB assessment $330,000: land transfer tax = $3,500
Purchase price $350,000 / SNB assessment $375,000: land transfer tax = $3,750

Your lawyer calculates this as part of your closing statement. I flag it early so there are no surprises.

A note on broker channel mortgages: if your mortgage comes through a broker rather than directly from a bank, some financial institutions require the lawyer to handle additional documentation, which can add $150 to $250 to your legal fees.

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