Things to Consider Prior to Making an Offer

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Things to Consider Prior to Making an Offer

 

Buying a home is one of the most important purchases most people will make. In order to make the right decision the first time, potential buyers need to be prepared. Consider the following before making an offer and beginning negotiations:
Be prepared:

Research the housing market in the target area. Once you have information about the general area, narrow your selections to specific properties and arrange viewings with your Real Estate Professional.

  • Is the home competitively priced with similar homes?

  • How long has the home been on the market? (If it has been on the market for a long time, perhaps there are negative fact about the property that you need to know).

  • What is the Seller’s time frame for selling and moving? Does it fit within your needs?

  • Are there any defects in the home or problems with the surrounding neighbourhood?

If you have Children investigate the options for Schooling, Many schools have boundaries that you will want to be aware of in advance.
As a potential buyer you want the advantage and knowledge that a Realtor has to offer.  A Realtor will work and negotiate on your behalf and will not disclose to a seller or seller’s agent what the maximum amount is that you would be willing to pay for the property. Your Realtor can negotiate without emotion as they are not attached to the property.

Establish a Timeline:

If you are in need of a home quickly arrange to view vacant properties, those with a possession date that fits your needs or be prepared to seek alternate accommodation until you are able to take possession of your new home. Allow yourself as much time as possible when looking for a new home, don’t let yourself be rushed into making concessions on a purchase you may later regret.