Assessing the Current Market
Before putting your home up for sale, you’ll want to give careful consideration to current market conditions. Understanding the market in which you’re selling will help you make important decisions about your reasons and strategy, timing, asking price, net financial requirements and alternatives – whether you ultimately sell, or not. You’ll first need to know […]
Why Use A Real Estate Agent To Sell Your Home or Property?
When you have decided to sell your home or property, the services of a qualified real estate professional are of utmost importance. The ideal sales agent will have a good working knowledge of local real estate market conditions and be prepared to deliver a high standard of service to customers. Most importantly, a good agent […]
An After-Closing Check List
You’ve just closed your house purchase-now what? Buyers have lots to do, besides unpacking and making minor repairs. They include: Getting names and addresses, payment dates, account numbers and amounts to pay for the mortgage, taxes, condo maintenance and utility charges. Notifying everyone about your change of address-from the post office to credit card companies […]
GST and Real Estate
One of the most confusing areas of real estate is the GST. Most resale homes are exempt from GST, but buyers should still ask the appropriate question and deal with it in their offer to purchase, to be safe. For brand new homes and condos, the offer should say whether the purchase price is “Plus […]
Important Dates In Every Real Estate Deal
Every real estate transaction has three key dates. Each must be clearly spelled out in the offer and adhered to-or the deal is off. The first: the irrevocable date, how long the seller has to accept a buyer’s offer. The second is the requisition date-when any issues arising from the title search must be reported […]
Getting Interest On Your Deposit
Despite what many buyers of resale homes and condos believe, interest isn’t automatically paid on a deposit in a real estate transaction. They only get interest on their deposits if a clause saying that appears in the offer to purchase. Then three criteria must be met-the deposit is at least $5,000; closing is at least […]
Deposits-A Vital Part Of Every Deal
Deposits serve two purposes-part payment of the purchase price, plus an assurance the buyer will close the deal. Usually an uncertified cheque accompanies the offer; when a deal is finally struck, the cheque is certified and the funds held by the listing agent. If buying privately, be sure the deposit is paid to the seller’s […]
Making Your Offer To Purchase “Conditional”
When buyers and sellers strike a deal, loose ends often need tidying up before the buyer will proceed. Typical examples: financing, a home inspection, and selling the buyer’s home. When that’s the case, a conditional offer should be signed one made “Subject To” these conditions. If the buyer satisfies them within the allotted time, the […]
Lawyers/Notaries-Not Just Anyone Will Do
Buying and selling real estate has become very specialized the last few years. So when looking for a lawyer/notary, make sure it’s a real estate lawyer/notary-one who spends most of the time closing real estate deals. And don’t wait until after the deal is struck before choosing a lawyer/notary; then you lose the valuable input […]
Home Inspectors. What Every Buyer Needs To Know!
If you’re buying a resale home and don’t want to inherit the seller’s headaches, a home inspection is a must. Usually the offer to purchase is conditional on the buyer being satisfied with the inspection-so if the house fails the grade, there’s no deal. Home inspectors examine the major systems in the house-plumbing, electrical, heating-plus […]
Free Money For First-Time Home Buyers!
The key to that fabulous house warming gift from the federal government: The Home Buyers’ Plan, better known as the “RSP Program”. It lets first-time buyers, including anyone who hasn’t owned a home in the last 5 years, borrow up to $20,000 per spouse from their RSP interest-free to buy a home, to be repaid […]
Buy First Or Sell First?
Which comes first-the purchase or the sale-is the greatest dilemma facing homeowners planning to move-up. If you choose to buy first, make sure the offer to purchase is conditional on selling your current house. That way, if you sell your house, both deals proceed; if not, the deal is off, and you won’t be stuck […]
What Exactly Is a Condominium?
A Condominium is more than a “Lifestyle”; it actually describes a form of land ownership. In both high-rise apartments and townhouses, buyers own a specific residential unit, plus a percentage interest in the “common elements” lobby, hallways, elevators, parking garage and grounds. Condo units are bought, sold and mortgaged separately; so owners are responsible for […]
Why Buy a Brand New Home?
Newly-built homes have enormous appeal. If you decide to buy a new home, you must know, that you can bring your own realtor, because he will be working in your best interest. Buyers are captivated by the enchanting thoughts of a home that’s bright, fresh, clean, modern and, of course, new. Buyers can customize it […]
The Advantages of a Resale Home
While many buyers shy away from used cars, that’s not the case with “used” or resale homes. As a resale home exists, you don’t have to visualize what it will look like-you see what you get, and get what you see. Also, resale homes are usually sold in more established communities and neighbourhoods. That means […]
Designing a Home Buying Strategy
Before shopping for a home, every buyer needs a home buying strategy-a game plan-that reflects his or her unique needs and wants. That means developing a pre-determined shopping list of what a house must provide (the needs) and the “would-like-to-haves” (the wants). To properly prepare a home buying strategy, homebuyers must first examine their lifestyles […]
Pre Approval-A Powerful Tool For Home Buyers
Most people buying a home need a mortgage. Too often, in the past, arranging a mortgage was left to the very end, sometimes even after a house was bought, forcing borrowers to scramble for financing. How things have changed! Today it’s important to shop for a mortgage before you purchase a home, since most lenders […]
Home Ownership – A Great Investment!
According to a Canada Mortgage and Housing Corporation study, resale house prices rose faster than inflation in 23 of 27 major Canadian cities between 1971 and 1996-even in years when inflation ran rampant throughout Canada. The principal residence tax exemption makes the capital gains from that increase in prices tax-free too. And the power of […]
Why Use A Real Estate Agent When Buying A Home Or Property?
When you have decided to buy a home or property, the services of a qualified real estate professional are of utmost importance. The ideal sales agent will have a good working knowledge of local real estate market conditions and be prepared to deliver a high standard of service to customers. Most importantly, a good agent […]
Pre-Move Recommendations
Before you move it is a good idea to follow these recommendations If you own your present home: Make the necessary arrangements to have your gas, water, and electric meters read on the day you leave disconnect it. Then have the bills forwarded to your new address. Have your telephone, cable TV, water, gas and […]