What Can Marg’s Buyer Clients Expect?
What is a Buyer Client?
I’m interested in buying real estate. Where do we begin?
Should We Buy First Or Sell First?
This is a common dilemma and one of the most common questions I’m asked by existing homeowners. There are no simple answers to this question as it depends on your own personal circumstances and comfort levels. The best way to consider your options is to weigh out the pros and cons of each possible approach.
- You know exactly how much money you have from the sale of your existing home and can comfortably choose your next home’s price range and negotiate accordingly.
- You are in a position to make offers that are not subject to the sale of another property and this tends to be attractive to Sellers. If a property pops up that is perfect or extremely well priced, you can potentially be the first in the door with a strong offer.
- You have more negotiating power. When Sellers turn down or counter an offer that is conditional upon the sale of a home, they usually believe that the Buyer will come back with a more serious offer if and when the Buyers’ home has finally sold. Sellers give much more consideration to unconditional offers since they usually realize the Buyer does have other options and may move on and pursue a different property if their final offer is rejected.
- If the right home is not on the market when you sell, and if nothing comes up before your closing date, you may have to find alternative accommodation until something appropriate comes along.
- If you are only interested in moving to a very specific property, buying first ensures you do not miss out on that one opportunity.
- If a unique or under-priced property comes on the market and you do not think it will last long, snapping up the deal ensures someone else does not buy it out from under you.
- If your current home does not sell quickly enough, you may end up having to finance both homes and carry the extra debt until you do sell. Don’t forget that also means paying insurance, taxes, utilities, maintenance and other household expenses.
- You do not know what the final selling price of your current home will be. If your budget is tight, this could affect your financial decisions. While you can get appraisals and market evaluations of your current home’s value, nothing is for sure until you actually get an offer.
- This is an extremely risky option for anyone on a tight budget!
OK, I’m ready to look. What happens next?
Will you show me properties that are listed with other offices?
How can I make sure I get the property I want at the best price?
- Seek diamonds in the rough: Many Buyers can’t visualize “potential”… if you can, that’s an opportunity.
- Make offers as clean as possible.
- Get pre-qualified with a local lender and submit the lender’s approval with your offer.
- Compose a letter to the Sellers telling them about you and your family, explaining why you love their property. We’ll submit it along with the offer to purchase. Making yourself real to the Sellers can have an enormous impact.
- We will point out to you all of the positives, as well as the negatives of every property and neighbourhood we visit. We will view as many homes as is necessary for you to get a feel for the market and find the right home. We will give you the truth about a property’s value, not its perceived value in the eyes of the Seller or listing salesperson and provide honest and complete financial information about neighbourhood properties and how this can affect your future. Don’t worry. We’re not going to jam you into anything that’s not right for you. Our objective is to always direct you to a property you’ll fall in love with and enjoy for years to come.
Is there much flexibility in the asking price?
Sellers presently have a fair amount of leverage due to market conditions that are in their favour. The reasons: low inventory, major growth and continued strong demand. A word about prices: in this area, they are often firm, with most properties selling within 4% to 5% of their list (asking) price. While there are always exceptions, it is unrealistic to expect to find a “steal” and, it’s not uncommon to see multiple offers coming in at the same time on a property, nor is it unusual to see full-price offers.
OK, I’ve found a property I love. What next?
How much do I put down?
How soon can we close?
What if the seller rejects my offer?
What happens once my offer is accepted?
We will forward copies of your offer to your lender and lawyer as needed and will follow through with getting everything ready for closing including being in communication with your lender, with the listing salesperson and with your lawyer, as needed, to make sure that everything is running according to schedule. We do our utmost to anticipate any problems or concerns before they arise and make every effort to make sure that your purchase is an enjoyable experience.
What about financing?
Are there other costs associated with closing?
What else should I know?
We think you should know that, when you deal with Marg, you are getting the benefit of her many years of award-winning experience, her extensive training, her in-depth knowledge of the local issues and the added benefit of having her full-time licensed assistant and Real Estate Salesperson, Chris McCormick, on your team as well. Marg is a Broker with RE/MAX, she is a Market Value Appraiser- Residential and continuously upgrades her education in matters such as mortgage financing, environmental awareness, real property law, property management and much more. She participates in numerous local committees and organizations as a volunteer and has extensive contacts that can be helpful to you in your purchase.
We try to be easily available to assist you. With voice mail, text, email, mobile or office phone and fax, we can always be reached when you need us. Our direct line is (705)446-1762. We do try to save time for family on Sundays but this can be flexible if you are only available on that day.
Buying Posts From Marg’s Blog
The perfect storm for any real estate investor is supply and demand. Investors look for areas with population growth and low real estate vacancy rates which is exactly the combination at play right now in Collingwood and the Southern Georgian Bay Region. A closer...
We have many investors in our market places who are always seeking ways to invest in the Collingwood area for the long term. Many consider a duplex or homes with income suites to be ideal however, the availability of such homes for sale is limited. Here is another...
While it won't result in a messed up haircut, making mistakes in a real estate transaction can cost you more than a few strands. I just stumbled across an old article from 2013 that was put out by the Real Estate Council of Ontario (RECO) about 10 major home buying...