Should I buy or sell first?
First assess the market situation. Is it a buyer's market? If so, it might be harder to sell your home at a fair price in timely fashion. If it's a sellers' market, the risk of ending up with two houses is not too probable. Ask your realtor to give you the pulse of the market to assess your chances of selling quickly or find the home that suits you.
What are the advantages of buying first?
In addition to knowing in advance your new address, you will know the exact price of your new residence, as well as the date you take possession. It will be easy to make calculations when you receive an offer to purchase.
Is it risky to make an offer to purchase before selling my house?
You can make an offer to purchase contingent on selling your home. However, if the seller receives another offer to purchase, you may be asked to withdraw the condition. You will then have two choices: buy the house before you sell yours, or withdraw your offer. For peace of mind, consider temporary funding that will allow you to sign a contract to purchase even if your house is not sold.
What are the advantages of selling first?
Since you know the exact amount you will receive from the sale, you have a clear idea of how much you can save on a new home. You also know when buyers move into your property. In short, you are holding all the data to make a solid offer to purchase, based on facts.
Choosing the Right Home?
The house of your dreams is probably not the one that suits you best. Before making a choice, consider these three important factors:
•Your needs: How many bedrooms do you need? A garage will it really useful? A third bathroom is essential or unnecessary?
•Your tastes: If you do not have the soul of a tinkerer, forget the houses that need renovation. If you have a busy schedule, a large field is perhaps not ideal either.
•Environment: Would you drive or take the subway to work? Is there a school or daycare center nearby? Are you far or near services?
In any case, your real estate agent can help you make an informed choice. Take time to explain your needs!
How to get a fair price for my property?
A real estate agent can help you by conducting a market analysis of your industry. You can then find the value of homes in your neighborhood and determine, with your agent, a good price for both you and the prospective purchaser. The agent is also a skilled negotiator who knows all the secrets of future purchase and cons of the proposals. Make it your ally!
What are the advantages of home ownership?
Being a homeowner is ...
• Living in a house that suits your needs and your lifestyle. Whether to offer a playroom for your children or a room for your guests, you are free to use the space that belongs to you.
•Enjoy all the benefits of a long term investment. Finish rents going into the pockets of another! The mortgage payments you make each month you can build a substantial capital that you can recover once your home paid.
•Enjoy fixed payments which, depending on the type of mortgage, you protect against increases in interest rates. It is far from unpredictable fluctuations in rent that tenants are subjected ...
•Enjoy greater intimacy and a new freedom. Because you're the only master on board decisions regarding renovation, decoration and maintenance belong to you. Also, nobody can enter your home or force you to leave the premises for purposes of inspection or maintenance.
What are the pitfalls to avoid when buying a property?
•Beware of the thunderbolt! A residence can fall into its charm and decor, but does it really you? During a visit, linger in many parts, their size, their layout, and make sure everything fits with your lifestyle.
•Do not hung up on details. Dirty carpets, worn paint and old wallpaper can be replaced. Remember that once an owner, you are free to redesign your space. However, do evaluate the cost of renovations to avoid bad surprises.
•Make sure the price is compatible with your budget. It is important that your monthly payments do not affect your quality of life or your ability to maintain, furnish and decorate your house to your taste. Ask your realtor to do a market analysis in the area that interests you.
•The price of a home does not necessarily depend on its size. A small well house divided can sell at the same price as a larger house requiring significant redevelopment. But it is a better investment since you do not invest in major renovations.
What is the reward of my realtor?
The compensation paid to the listing agent is taken from the total amount of each sale. This sum does not go directly into their pockets as they incur costs including advertising, photography, stationery, transport and insurance. As self-employed, he must also pay for tax and pension. In most cases, it must also share the reward with the collaborating agent involved in the transaction.
What does my agent or broker to deserve his salary?
Whether you're buying or selling a home, your agent or broker does for you a multitude of tasks to complete the transaction in a professional manner and in accordance with the Law on Real Estate Brokerage.
•Visiting your home or accompany you during visits;
•It is preparing a comparative market analysis;
•It makes the process of obtaining legal documents and photocopies;
•Preparing strategies for selling your house (open houses, advertising and other marketing tools);
•It assists you during negotiations;
•It carries with you the complete overhaul of the promise to purchase and annexes, as well as drafting the proposal-cons;
•It keeps track, prepare and obtain the required documents so that all conditions are met;
•Submitting all legal documents to the notary and accompanies you during the signing of the deed.