Many of your questions should focus on potential problems and maintenance issues. Does anything need to be replaced? What things require ongoing maintenance (e.g., paint, roof, HVAC, appliances, carpet)? Also ask about the house and neighborhood, focusing on quality of life issues. Be sure the seller’s or real estate agent’s answers are clear and complete. Ask questions until you understand all of the information they’ve given. Making a list of questions ahead of time will help you organize your thoughts and arrange all of the information you receive.
Searching for that dream property can be exhausting. Let me help you by making an intensive profile
of your “wish list” . The more information you provide, the better I can assist you. Try to prioritize the area you would like to cottage or reside in. You can always change a structure, but you can’t change the property or waterfront. Location, location, location.
That perfect property is out there for you. It may take a little time, but we will find it!
De-personalize & de-clutter. Try to pack away a significant portion of your personal memories such as pictures, momentos, knick knacks etc. Less is more! This will make it easier for the buyer to picture their furniture and belongings in the home.
Try to leave the home for showings. It’s difficult to remain emotion-free when selling. If you’re there during the showing, you may be engaged by the buyer.
Provide as many details of your home as possible such as surveys, septic documentation, water well record, appliance service guides and warranties, square footage, building plans, renovations/updated info.
The earnest–money deposit is a negotiable amount between the buyer and seller, but usually about 1% to 2% of the purchase price (although it can shoot up to 10%). This money is generally held by the seller’s broker or a title company, to be used as a credit toward the down payment and closing costs.
Earnest-money deposit is money put down to demonstrate your seriousness about buying a home. It must be substantial enough to demonstrate good faith and is usually between 1-5% of the purchase price (though the amount can vary with local customs and conditions). If your offer is accepted, the earnest money becomes part of your down payment or closing costs. If the offer is rejected, your money is returned to you. If you back out of a deal, you may forfeit the entire amount.
Your real estate agent will assist you in making an offer, which will include the following information:
Remember that a sale commitment depends on negotiating a satisfactory contract with the seller, not just making an offer.
It’s not required, but it’s a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also an opportunity to hear an objective opinion on the home you’d like to purchase and it is a good time to ask general, maintenance questions.
There isn’t a set number of houses you should see before you decide. Visit as many as it takes to find the one you want. On average, homebuyers see 15 houses before choosing one. Just be sure to communicate often with your real estate agent about everything you’re looking for. It will help avoid wasting your time.
In addition to comparing the home to your minimum requirement and wish lists, you may want to consider the following:
Take your time and think carefully about each house you see. Ask your real estate agent to point out the pros and cons of each home from a professional standpoint.
The lender considers your debt-to-income ratio, which is a comparison of your gross (pre-tax) income to housing and non-housing expenses. Non-housing expenses include such long-term debts as car or student loan payments, alimony, or child support. The lender also considers cash available for down payment and closing costs, credit history, etc. when determining your maximum loan amount.
The two don’t really compare at all. The one advantage of renting is being generally free of most maintenance responsibilities. But by renting, you lose the chance to build equity, take advantage of tax benefits, and protect yourself against rent increases. Also, you may not be free to decorate without permission and may be at the mercy of the landlord for housing.
Owning a home has many benefits. When you make a mortgage payment, you are building equity. And that’s an investment. Owning a home also qualifies you for tax breaks that assist you in dealing with your new financial responsibilities- like insurance, real estate taxes, and upkeep- which can be substantial. But given the freedom, stability, and security of owning your own home, they are worth it.