7 Things You Should Know Before Purchasing
Posted by David Parry on
1. Many times, a home is the largest asset an individual has and is considered one of the safest investments available.
2. The majority of the time, a Realtor can show you any home, whether it is listed with a company, a builder or is a For Sale by Owner property.
3. Working with a Realtor to purchase a For Sale by Owner property is very advantageous because someone will be looking out for your best interests.
4. A pre-approved program from a lender for a specific loan amount subject to the property being approved will give you confidence and will help when negotiating with the seller.
5. Your Real Estate professional can provide you with a list of items that you’ll need to make a loan application, so you’ll be ready when you visit the mortgage broker. In a Seller’s Market, don’t go looking for a deal. Set your sights on the right house for you, and then let your Realtor help you negotiate the best price and terms.
7. All sales have a Provincial property Purchase Tax payable at the time of closing. This tax is 1% on the first $200,000 and 2% on the balance. (There are exemptions for some first-time buyers.)