10 Common Mistakes Buyers Make
1. Making an offer on a home without being pre-qualified.
2. Not asking for clarification on the offer to purchase when you need further explanation on something.
3. Limiting your search to open houses, ads or the internet.
4. Thinking it is better to have more than one Realtor.
5. Thinking there is only one perfect house out there.
6. Not considering long term needs.
7. Not examining insurance issues.
8. Not knowing total costs involved in purchasing a home.
9. Not following through on due diligence.
10. Not knowing the true costs in upgrading or remodelling a home.
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Home Owner and Home Search Tips and Information
Priorities!
§ When viewing properties look first at what could cost you the most to upgrade. For example, foundation, windows, utilities, etc.
Location!
§ It is the most important thing when deciding on a home. You can do upgrades to a property, but it is hard to move it physically from its location.
The importance of having a cheque book:
§ In real estate cheques are used for every transaction for the deposit. If you do not already have a cheque book, it would be a good idea to visit your bank branch to obtain one. Carry it with you until you purchase the home you want.
§ Deposit cheques must legally be cashed within 24 hours of an accepted offer, so make sure the money is in your account.
Always compare and contrast when viewing homes.
§ Ask yourself, how does this property compare to another? Some things to think about are: price, location, condition, inclusions, etc.
The city of Winnipeg’s TIPPs program
§ This program is designed to have monthly tax payments as opposed to one single payment once a year. You can visit http://www.winnipeg.ca/finance/tipp_application.stm for more information, or to apply yourself.
Things Not to do…
§ Don’t buy a car or get a new credit card.
§ Don’t switch jobs unless necessary.
The role of a home inspector
§ To inspect the home’s inner and outer workings. To make sure that you as a buyer get the information that you need to make informed decisions about the home you wish to purchase
The role of a lawyer
§ Lawyers are the ones who deal with the final closing and conveyance of title in a real estate transaction. Real estate cannot be bought or sold without the assistance of a great lawyer.
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