Buying real estate in a market as dynamic as ours can be tricky. It is important to have a qualified Realtor working for you to help ensure your success.
Here are a few of the most Frequently Asked Questions I get from buyers:
Should I Buy Or Sell First?
Great question! This one is very personal. It really depends on your situation. The reality is in our market it may be more difficult to find a new home than it is to sell your current home. You should speak with your current lender about bridge financing to find out if you are able to buy first then sell your current home. Some good advice here is make sure your home is market ready so the moment you buy we can list your current home for sale. You may be in a situation where you need to sell first, that is ok too, I will work hard to make sure everything works out for you.
What Is The First Thing I Should Do?
This is a step that is often missed. Get mortgage approval, find out exactly what you can afford. Honestly, there is no point in looking at real estate until you know the answer to this question. Imagine being in a multiple offer situation and missing out only to find out afterwards you could have afforded more, or worse, you can't afford what you offered. Mortgage approval gives you confidence in your offer and the ability to remove condition of finance from your offer which is attractive to sellers.
I Think It's Better To Call The Listing Agent?
This couldn't be further from the truth. Having your own Realtor is your best option when it comes to purchasing real estate. The listing Realtor represents the seller, not you.
Can I Put A Home Inspection Condition In My Offer?
Yes, but if you do it will likely be the downfall of your offer in our current market. In multiple offer situations (bidding wars) most offers do not have any conditions, these are called firm offers. Sellers prefer firm offers and often will take less money for a firm offer. I can tell you when I am the selling agent I always tell my sellers to consider only firm offers. So if you put a home inspection or any other condition on your offer in our current market you will likely lose the property.
Are Any Conditions Acceptable In Multiple Offer Situations?
Yes, if the seller of a condo does not have the status certificate available then a condition of status certificate review by your lawyer would not only be an acceptable condition but one I would recommend.
Will You Tell Me What I Should Offer?
Yes, I will do a full market evaluation for you so we know the expected value of the property we are looking at and discuss our best strategy with you.
I'm A First Time Buyer And Don't Know What To Expect.
Not to worry, I have years of experience and the professional contacts we will need, you will be well looked after.