This document provides tips for avoiding common mistakes when buying or selling a home. It discusses 10 common mistakes: hiring the first real estate professional without interviewing others; not clearly communicating expectations with your real estate agent; failing to read and understand contracts; allowing emotions to override common sense; assuming items are included without verification; forgetting about the condition of things within walls like wiring and plumbing; forgetting to consider the neighborhood; not doing research on the property history; making verbal agreements instead of written; and underestimating closing costs. It emphasizes the importance of doing research, asking questions, getting details in writing, and using a registered real estate professional.
The document summarizes real estate market conditions in the Greater Toronto area in May 2011. It reports that home sales increased 6% compared to May 2010, making it the second best May on record. The average home price rose 9% to $485,520. A shortage of new listings contributed to a tightening of the market and stronger price growth. The robust price increases may eventually prompt more home owners to list their properties, balancing out the market later in the year. The newsletter provides this information along with advertisements for local real estate agents Melanie and Fabio Recine.
1) Mortgage rates have been low for years but won't stay that way forever, so now is a good time to buy before rates rise further. The main factors that determine how much home you can afford are your income, debt levels, the home price, and interest rates, which are outside your control.
2) In 2012, the housing market began to favor sellers as inventory levels decreased, but good deals can still be found, especially for buyers who are pre-approved.
3) Most buyers finance their home with a conventional fixed-rate mortgage, FHA loan, or pay with cash. Local lenders are becoming more common options than large national banks. Down payment amounts of less than 20
This document provides a complete guide to home buying. It discusses the importance of location when choosing a property and evaluating different neighborhoods. It also covers finding a reputable realtor to assist with the home buying process and evaluating their experience. The guide provides tips on properly researching the housing market and properties for sale. It emphasizes taking time to thoroughly inspect potential homes and carefully consider financing options before making an offer.
This document is a home buyer's handbook that provides guidance on various aspects of the home buying process. It discusses factors to consider when choosing a property location such as neighborhood lifestyle and characteristics. It also addresses things to research such as property taxes, zoning, and home inspections. The handbook advises buyers to thoroughly research properties and not rush into a purchase to avoid issues. It compares benefits of new and older homes and stresses the importance of due diligence for older homes.
The home buying process – a brief, step-by-step overview;
A home buyer’s glossary ;
To buy or not to buy – considerations for first-time home buyers in this market;
The loan process – financing your home purchase ; Successfully negotiating the deal
The document provides information for first-time home buyers on the home buying process. It discusses who is buying homes and why home ownership is appealing. It outlines the key members of a home buying team, including a mortgage professional to qualify buyers for a mortgage, a realtor to help find a home, and a lawyer to handle legal aspects. It also describes the initial steps of determining affordability based on income, debts, and estimated housing costs, and covers topics like down payment amounts, closing costs, and important considerations for the home purchase like location and inspecting the property.
This document provides a guide for home buyers that outlines the typical steps in the home buying process. It begins with defining goals, researching options, and making a plan. Other steps include contacting a real estate agent, getting pre-approved for a loan, viewing homes, making an offer, securing financing, closing the deal, and understanding key terms. The guide aims to prepare buyers for successfully purchasing a home.
The document summarizes real estate market conditions in the Greater Toronto area in May 2011. It reports that home sales increased 6% compared to May 2010, making it the second best May on record. The average home price rose 9% to $485,520. A shortage of new listings contributed to a tightening of the market and stronger price growth. The robust price increases may eventually prompt more home owners to list their properties, balancing out the market later in the year. The newsletter provides this information along with advertisements for local real estate agents Melanie and Fabio Recine.
1) Mortgage rates have been low for years but won't stay that way forever, so now is a good time to buy before rates rise further. The main factors that determine how much home you can afford are your income, debt levels, the home price, and interest rates, which are outside your control.
2) In 2012, the housing market began to favor sellers as inventory levels decreased, but good deals can still be found, especially for buyers who are pre-approved.
3) Most buyers finance their home with a conventional fixed-rate mortgage, FHA loan, or pay with cash. Local lenders are becoming more common options than large national banks. Down payment amounts of less than 20
This document provides a complete guide to home buying. It discusses the importance of location when choosing a property and evaluating different neighborhoods. It also covers finding a reputable realtor to assist with the home buying process and evaluating their experience. The guide provides tips on properly researching the housing market and properties for sale. It emphasizes taking time to thoroughly inspect potential homes and carefully consider financing options before making an offer.
This document is a home buyer's handbook that provides guidance on various aspects of the home buying process. It discusses factors to consider when choosing a property location such as neighborhood lifestyle and characteristics. It also addresses things to research such as property taxes, zoning, and home inspections. The handbook advises buyers to thoroughly research properties and not rush into a purchase to avoid issues. It compares benefits of new and older homes and stresses the importance of due diligence for older homes.
The home buying process – a brief, step-by-step overview;
A home buyer’s glossary ;
To buy or not to buy – considerations for first-time home buyers in this market;
The loan process – financing your home purchase ; Successfully negotiating the deal
The document provides information for first-time home buyers on the home buying process. It discusses who is buying homes and why home ownership is appealing. It outlines the key members of a home buying team, including a mortgage professional to qualify buyers for a mortgage, a realtor to help find a home, and a lawyer to handle legal aspects. It also describes the initial steps of determining affordability based on income, debts, and estimated housing costs, and covers topics like down payment amounts, closing costs, and important considerations for the home purchase like location and inspecting the property.
This document provides a guide for home buyers that outlines the typical steps in the home buying process. It begins with defining goals, researching options, and making a plan. Other steps include contacting a real estate agent, getting pre-approved for a loan, viewing homes, making an offer, securing financing, closing the deal, and understanding key terms. The guide aims to prepare buyers for successfully purchasing a home.
The document provides advice for homeowners on selling their home in the current real estate market. It discusses meeting with a real estate agent to sign a listing agreement, setting an asking price based on comparable home sales, preparing necessary documents, making repairs and cleaning the home, and allowing the agent to schedule showings for potential buyers. The overall goal is to make the home appealing visually and paperwork-wise in order to sell it quickly at a good price.
This document provides an overview of the typical home buying process in 7 steps: 1) Define goals and research options, 2) Contact a real estate agent, 3) Get pre-approved for a loan, 4) View homes and select one, 5) Make an offer and negotiate with the seller, 6) Secure financing, and 7) Close the deal. It also includes a glossary of common real estate terms and considerations for first-time home buyers in the current market.
This document provides tips on how to prepare a home for sale using feng shui principles to appeal to buyers. It recommends paying special attention to the front door area to create a welcoming first impression. It also suggests keeping chi energy from being drained by keeping toilet seats down and bathroom doors closed. Additionally, it advises placing the master bed in a position of honor and using soothing paint colors in the bedroom. The dining room should have a clear, attractive table to promote family togetherness. Finally, clean windows allow the best view of the home.
Thinking of buying a home in Richmond Virginia area? Whether it is your first home, or you have bought a home before this booklet will guide you through the process
How to avoid costly mistakes when buying candlewood lake homesTampa Homes Today
Buying a home, especially for first-time buyers, can be challenging if certain mistakes are made. The document provides 5 tips to help avoid common mistakes made by homebuyers looking to purchase properties on Candlewood Lake or Lake Lillinonah. The tips include sticking to your budget, doing research on property prices and features, getting proper inspections, accounting for additional costs like taxes and maintenance, and enlisting the help of a professional real estate agent. Following these tips can help buyers avoid potential problems and secure their dream home on one of the lakes.
This document is a chapter from a book providing advice on optimizing home purchases. It discusses how hiring the right real estate agent can help homebuyers avoid common mistakes like overpaying for a home or home loan. The chapter emphasizes creating a comprehensive home buying strategy and working with an expert advisor who represents the buyer's interests. It cautions that sellers' agents and builders' sales reps may not have the buyer's best interests in mind due to compensation incentives. Overall, the chapter stresses the importance of an educated, strategic approach to home buying facilitated by a knowledgeable real estate professional.
Kenneth P. "Kip" Nance is a REALTOR and broker in charge of Only Way Realty located in Tabor City, North Carolina. The document provides 8 reasons to work with a REALTOR over other real estate practitioners. It explains that REALTORS are members of the National Association of REALTORS and must follow its Code of Ethics. It then summarizes the top benefits of working with a REALTOR which include navigating the complex home buying/selling process, providing valuable local information and market expertise, helping find available properties, strong negotiating skills, marketing the property to other REALTORS' contacts, understanding real estate terminology, experience from many past transactions, and providing an objective perspective in
Establishing a realistic budget, buying what you need while planning for growth, understanding home appreciation, and working with a reputable real estate agent are tips provided for first-time home buyers. The document recommends setting aside savings for maintenance, only purchasing as much home as needed unless planning to expand, searching for neighborhoods that will rise in value, and using an agent to negotiate a lower price and ensure legal requirements are met.
Kenneth P. “Kip” Nance is a REALTOR and broker in charge of Only Way Realty located in Tabor City, North Carolina. The document provides 9 reasons why working with a REALTOR is beneficial: 1) They have expertise to guide customers through the process. 2) They provide objective information and opinions on properties and their suitability. 3) They can find properties not actively advertised. 4) They have experience with negotiations. 5) They provide property marketing through their professional network. 6) They understand real estate terminology. 7) They have experience from many past transactions. 8) They can provide an emotional and objective perspective for this big purchase. 9) REALTORS commit to an ethical
This document provides a guide for buying a home. It outlines the necessary preparations, including saving for a down payment, improving your credit score, and getting pre-approved for a mortgage. It describes factors to consider when searching for a home, such as condition, size, price, and location. The guide also explains the process of making an offer, getting an inspection, closing on the purchase, and settling into the new home. The overall document serves as a comprehensive overview of the major steps involved in the home buying process.
This document is the copyright page and contents list for a book titled "Ultimate Home Buyers Guide" published by CelebrityPress. It provides information on copyright and publishing details for the book. The contents list previews 15 chapters on topics related to home buying such as hiring an agent, home buying strategies, negotiations, common mistakes to avoid, and more.
Home prices rose in 2012 despite a slight drop in home sales. While sales were strong in the first half of the year, they declined in the second half due to stricter mortgage guidelines and additional taxes. Price growth was strongest for detached and semi-detached homes, which remained in high demand. Overall, the Toronto real estate market remained healthy in 2012 despite some challenges.
This document provides tips for new home buyers and real estate investors. It recommends considering repairing and remodeling properties to get a rapid return on investment. It also suggests becoming familiar with the types of homes in the target neighborhood and knowing that the most expensive house may not be ideal. Finally, it advises employing a trustworthy real estate agent who has your best interests in mind to help find a home at a good price.
This document provides information to help buyers through the process of purchasing a home, including:
- Working with a real estate agent to find the right home and make an offer
- Understanding financing and pre-qualifying for a loan amount
- Going through the escrow process where terms are carried out by a neutral third party
- Signing documents and fulfilling conditions to complete the transaction by the closing date
This document provides a guide to buying a home. It outlines the key steps buyers need to take, including preparing finances by saving for a down payment, improving credit scores, and getting pre-approved for a mortgage. It also discusses factors to consider when searching for a home, such as condition, size, price, and location. The guide covers making an offer, getting an inspection, closing on the purchase, and settling into the new home. The overall process from beginning the search to moving in is described.
This document provides an 8 step guide for homeowners to have a painless and profitable home sale. It discusses choosing an agent, setting the right price, preparing the home, marketing the home, showing the home to buyers, negotiating offers, calculating net proceeds, and meeting with the agent. The guide emphasizes pricing the home correctly, preparing it for sale by cleaning, decluttering and making repairs, maximizing exposure through online and print marketing, and having an agent to handle negotiations. It includes worksheets to help sellers understand costs and organize information needed for the sale.
Oltersdorf Realty Home Buying Presentation, Leelanau, Grand Traverse, Travers...Oltersdorf Realty, LLC
Please take a moment to browse our detailed guide for homebuyers geared especially towards first time home buyers in the Traverse City region (Leelanau and Grand Traverse County). The combination of decreased home values, low interest rates, and federal incentives make this a very attractive time to purchase your first home or to be a move up buyer. Topics covered include: The current Traverse City real estate market, the buying process, buy vs. rent, tax incentives, home buyer credit, finding an agent, securing a loan, and protecting your investment. Please visit http://www.oltersdorf.com for additional information!
Mathew Ngo is a real estate agent with Better Homes & Gardens Real Estate Advantage Realty. He focuses on building long-term relationships with clients and ensuring they receive personal attention. His ability to listen, understand clients' needs, desires, and fears makes him a valuable agent. The brochure promotes Mathew's services and highlights testimonials praising his work.
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
The document provides advice for homeowners on selling their home in the current real estate market. It discusses meeting with a real estate agent to sign a listing agreement, setting an asking price based on comparable home sales, preparing necessary documents, making repairs and cleaning the home, and allowing the agent to schedule showings for potential buyers. The overall goal is to make the home appealing visually and paperwork-wise in order to sell it quickly at a good price.
This document provides an overview of the typical home buying process in 7 steps: 1) Define goals and research options, 2) Contact a real estate agent, 3) Get pre-approved for a loan, 4) View homes and select one, 5) Make an offer and negotiate with the seller, 6) Secure financing, and 7) Close the deal. It also includes a glossary of common real estate terms and considerations for first-time home buyers in the current market.
This document provides tips on how to prepare a home for sale using feng shui principles to appeal to buyers. It recommends paying special attention to the front door area to create a welcoming first impression. It also suggests keeping chi energy from being drained by keeping toilet seats down and bathroom doors closed. Additionally, it advises placing the master bed in a position of honor and using soothing paint colors in the bedroom. The dining room should have a clear, attractive table to promote family togetherness. Finally, clean windows allow the best view of the home.
Thinking of buying a home in Richmond Virginia area? Whether it is your first home, or you have bought a home before this booklet will guide you through the process
How to avoid costly mistakes when buying candlewood lake homesTampa Homes Today
Buying a home, especially for first-time buyers, can be challenging if certain mistakes are made. The document provides 5 tips to help avoid common mistakes made by homebuyers looking to purchase properties on Candlewood Lake or Lake Lillinonah. The tips include sticking to your budget, doing research on property prices and features, getting proper inspections, accounting for additional costs like taxes and maintenance, and enlisting the help of a professional real estate agent. Following these tips can help buyers avoid potential problems and secure their dream home on one of the lakes.
This document is a chapter from a book providing advice on optimizing home purchases. It discusses how hiring the right real estate agent can help homebuyers avoid common mistakes like overpaying for a home or home loan. The chapter emphasizes creating a comprehensive home buying strategy and working with an expert advisor who represents the buyer's interests. It cautions that sellers' agents and builders' sales reps may not have the buyer's best interests in mind due to compensation incentives. Overall, the chapter stresses the importance of an educated, strategic approach to home buying facilitated by a knowledgeable real estate professional.
Kenneth P. "Kip" Nance is a REALTOR and broker in charge of Only Way Realty located in Tabor City, North Carolina. The document provides 8 reasons to work with a REALTOR over other real estate practitioners. It explains that REALTORS are members of the National Association of REALTORS and must follow its Code of Ethics. It then summarizes the top benefits of working with a REALTOR which include navigating the complex home buying/selling process, providing valuable local information and market expertise, helping find available properties, strong negotiating skills, marketing the property to other REALTORS' contacts, understanding real estate terminology, experience from many past transactions, and providing an objective perspective in
Establishing a realistic budget, buying what you need while planning for growth, understanding home appreciation, and working with a reputable real estate agent are tips provided for first-time home buyers. The document recommends setting aside savings for maintenance, only purchasing as much home as needed unless planning to expand, searching for neighborhoods that will rise in value, and using an agent to negotiate a lower price and ensure legal requirements are met.
Kenneth P. “Kip” Nance is a REALTOR and broker in charge of Only Way Realty located in Tabor City, North Carolina. The document provides 9 reasons why working with a REALTOR is beneficial: 1) They have expertise to guide customers through the process. 2) They provide objective information and opinions on properties and their suitability. 3) They can find properties not actively advertised. 4) They have experience with negotiations. 5) They provide property marketing through their professional network. 6) They understand real estate terminology. 7) They have experience from many past transactions. 8) They can provide an emotional and objective perspective for this big purchase. 9) REALTORS commit to an ethical
This document provides a guide for buying a home. It outlines the necessary preparations, including saving for a down payment, improving your credit score, and getting pre-approved for a mortgage. It describes factors to consider when searching for a home, such as condition, size, price, and location. The guide also explains the process of making an offer, getting an inspection, closing on the purchase, and settling into the new home. The overall document serves as a comprehensive overview of the major steps involved in the home buying process.
This document is the copyright page and contents list for a book titled "Ultimate Home Buyers Guide" published by CelebrityPress. It provides information on copyright and publishing details for the book. The contents list previews 15 chapters on topics related to home buying such as hiring an agent, home buying strategies, negotiations, common mistakes to avoid, and more.
Home prices rose in 2012 despite a slight drop in home sales. While sales were strong in the first half of the year, they declined in the second half due to stricter mortgage guidelines and additional taxes. Price growth was strongest for detached and semi-detached homes, which remained in high demand. Overall, the Toronto real estate market remained healthy in 2012 despite some challenges.
This document provides tips for new home buyers and real estate investors. It recommends considering repairing and remodeling properties to get a rapid return on investment. It also suggests becoming familiar with the types of homes in the target neighborhood and knowing that the most expensive house may not be ideal. Finally, it advises employing a trustworthy real estate agent who has your best interests in mind to help find a home at a good price.
This document provides information to help buyers through the process of purchasing a home, including:
- Working with a real estate agent to find the right home and make an offer
- Understanding financing and pre-qualifying for a loan amount
- Going through the escrow process where terms are carried out by a neutral third party
- Signing documents and fulfilling conditions to complete the transaction by the closing date
This document provides a guide to buying a home. It outlines the key steps buyers need to take, including preparing finances by saving for a down payment, improving credit scores, and getting pre-approved for a mortgage. It also discusses factors to consider when searching for a home, such as condition, size, price, and location. The guide covers making an offer, getting an inspection, closing on the purchase, and settling into the new home. The overall process from beginning the search to moving in is described.
This document provides an 8 step guide for homeowners to have a painless and profitable home sale. It discusses choosing an agent, setting the right price, preparing the home, marketing the home, showing the home to buyers, negotiating offers, calculating net proceeds, and meeting with the agent. The guide emphasizes pricing the home correctly, preparing it for sale by cleaning, decluttering and making repairs, maximizing exposure through online and print marketing, and having an agent to handle negotiations. It includes worksheets to help sellers understand costs and organize information needed for the sale.
Oltersdorf Realty Home Buying Presentation, Leelanau, Grand Traverse, Travers...Oltersdorf Realty, LLC
Please take a moment to browse our detailed guide for homebuyers geared especially towards first time home buyers in the Traverse City region (Leelanau and Grand Traverse County). The combination of decreased home values, low interest rates, and federal incentives make this a very attractive time to purchase your first home or to be a move up buyer. Topics covered include: The current Traverse City real estate market, the buying process, buy vs. rent, tax incentives, home buyer credit, finding an agent, securing a loan, and protecting your investment. Please visit http://www.oltersdorf.com for additional information!
Mathew Ngo is a real estate agent with Better Homes & Gardens Real Estate Advantage Realty. He focuses on building long-term relationships with clients and ensuring they receive personal attention. His ability to listen, understand clients' needs, desires, and fears makes him a valuable agent. The brochure promotes Mathew's services and highlights testimonials praising his work.
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
Reliable Structure:
With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
For more details https://gvrenting.com/
AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Victory by Maskeen Group Surrey Floor plans June 2024 PDF
Reconnect 2014 web final
1. Let’s get social
Keep your home dry
during the spring thaw
Buying a resale condo?
Here’s what you need
to know.
SPRING EDITION 2014
2. With that in mind, here are the most common buying and
selling pitfalls, and tips on how to avoid them:
HIRING THE FIRST SALESPERSON YOU MEET
While you may decide to work with the first real estate
professional you meet, it's a good idea to meet with a few
different representatives before settling on one. Make sure
you feel comfortable with them and their approach to the
process. Also, be sure to get references and contact them
to learn about their experience with the salesperson. Before
signing a representation agreement, it’s a good idea to use the
‘Registrant Search’ tool at the top of RECO’s website
(www.reco.on.ca) to check the status of their registration and
see whether they have been subject to disciplinary action.
NOT MAKING YOUR EXPECTATIONS CLEAR
WITH YOUR REAL ESTATE PROFESSIONAL
Working with a real estate professional is a partnership,
so communication is the key to success. It’s important to have
a mutual understanding about what you’re looking for in a
home, what elements you would consider to be ‘deal-breakers’,
and what services the brokerage will be responsible for. Make
sure you discuss what services you expect them to provide,
and get it in writing.
FAILING TO READ AND UNDERSTAND FORMS AND CONTRACTS
It can be tempting to speed the process along by signing
forms that you haven’t read. After all, nobody really likes
reading the fine print. But taking the time to understand
what you’re signing can avoid a lot of problems later on.
For example, you don’t want to find out that you’re on the
hook for a six month listing agreement to sell your home if
you only want your house on the market for three months.
Make sure all the blanks on the form are filled in before you
sign it, and make sure you get a copy of whatever you sign.
ALLOWING EMOTIONS TO OVERTAKE COMMON SENSE
When you fall in love with a property, it can be hard to
walk away. Stick to your budget and be aware of the risks
of foregoing a home inspection for a chance to win a bidding
war. Making your offer conditional on a home inspection
is a smart decision because a qualified home inspector,
engineer or contractor can identify underlying problems
with a home’s major systems, like heating and electrical.
Skipping an inspection is a gamble because you’ll leave
yourself vulnerable to a much more costly problem later on.
1
2
3
4
It’s worth the effort to learn about the
home buying and selling process; doing
so could save you time, stress and money.
One way to protect yourself is to learn
from the mistakes of others.
“RECO is responsible for protecting
home buyers and sellers, and we’ve seen
too many Ontarians fall victim to easily
avoidable buying and selling hazards,”
says RECO’s Registrar Joseph Richer.
“Being mindful of these issues can help
the process go a lot smoother.”
MOST COMMON
BUYING AND SELLING
MISTAKES
WATCH
OUT
FOR THE
TOP
10
2 reconnect · Spring Edition 2014
3. ASSUMING EVERYTHING IS INCLUDED
Don’t assume that the stove, washing machine and dryer or
other items are included with the sale. The seller may want to
take the dishwasher with them, and the hot water tank might
be under a rental contract that you’ll be required to take over.
The best way to protect against any surprises is to detail all
the items (known as chattels) you expect to be included in
your written offer. In the offer, you can also include a clause
requiring the seller to pay out any outstanding leases on the
home’s major systems.
FORGETTING ABOUT WHAT’S WITHIN THE WALLS
The hardwood floors, stained glass windows and walk-in closet
are appealing features, but the insulation, wiring and plumbing
are just as important when you’re evaluating a property. Ask
your real estate professional to look into the age of the home’s
systems and if there have been any upgrades. If extensive
renovations have been done, your real estate professional can
also help determine if the appropriate permits were issued.
FORGETTING ABOUT WHAT’S OUTSIDE THE WALLS
When you buy a home, you’re also buying a place in a community.
Visit the neighbourhood at different times of the day to see if the
surroundings fit your lifestyle. Is it too noisy, or not vibrant enough?
The only way to find out is to spend some time exploring the area,
talking to neighbours and researching the locations of amenities
like grocery stores and banks.
NOT DOING YOUR RESEARCH
If you’re concerned about buying a home with a troubled past,
a simple Internet search for the address can go a long way.
This is also something you can ask the neighbours about.
MAKING VERBAL AGREEMENTS
Verbal agreements aren’t a problem, until they’re a problem.
Putting everything in writing forces both parties to be clear
about their expectations and provides a record that can prevent
disputes later on.
UNDERESTIMATING CLOSING COSTS
The price paid for a home is just one of many costs associated
with the purchase. Related costs, such as land transfer taxes,
title insurance and a home inspection, can really add up and
take an unexpected chunk out of your budget. There are also
the final touches – like a fresh coat of paint, some window
coverings or a new appliance – that you may want to do to
make the place feel like your home. For more information,
check out the Fall 2013 edition of RECOnnect, which includes
a feature on the full costs of buying a home. You can find it
under ‘Publications and Resources’ at www.reco.on.ca.
5
6
7
8
9
10 While these tips will certainly help, the
most important advice is to work with
a registered real estate professional.
“Registered brokers and salespersons
provide a great deal of knowledge and
expertise about the buying and selling
process, along with specific knowledge
about neighbourhoods and local issues,”
says Richer. “They can also provide crucial
help in avoiding these hazards.”
3 Spring Edition 2014 · reconnect
5. For more information and to
access the new digital tools,
please visit us at:
www.Facebook.com/recohelps
www.YouTube.com/recohelps
www.Twitter.com/recohelps
www.reco.on.ca
NEW DIGITAL TOOLS
to help you make smart home–
buying and selling decisions
Buying or selling a home is an important life milestone that
can be emotional, stressful and confusing. With so much at
stake, RECO has launched new digital tools that encourage
Ontarians to be home smart.
The resources offer credible and objective advice to help
Ontarians successfully navigate the home buying and selling
process.
Visit Facebook (www.Facebook.com/recohelps)
for interactive tools that highlight some of the most common
buying and selling mistakes. Participate in the Choose Your
Home Adventure game, which will take you through five
scenarios that most homebuyers encounter. By participating,
you’ll also have the chance to win a $100 RONA gift card.
Determine whether you make decisions with your head or your
heart by taking our Are you home smart or home emotional?
quiz. And remember to check back daily for real estate dos and
don’ts, infographics and buying and selling checklists.
Check out Youtube (www.YouTube.com/recohelps)
for a new video series that answers common home buyer and
seller questions, such as “what closing costs should I budget
for,”“what should I do to have a safe open house” and
“how do I know what’s included with the sale of a home.”
Follow Twitter (www.Twitter.com/recohelps)
for daily tidbits on home buying and selling.
Being informed, asking questions and not letting your
emotions take over will help you have a positive buying
or selling experience.
Also, a registered real estate professional is an important source
of information and an objective ally during the buying or selling
experience.
5 Spring Edition 2014 · reconnect
6. KEEP THE WATER OUT
Before the snow begins melting, clear
away any snow and obstructions that
have accumulated around windows,
and clear debris from gutters and
downspouts. If there are any piles
of snow near the house, move them
further away. Make sure there’s
nothing outside that would block
proper drainage as the snow melts.
Proper grading around your home is
essential—the ground shouldn’t slope
toward your home.
MINIMIZE RISK
Even if water gets into your home,
there are steps you can take to
minimize the damage. Basements are
often used as storage, but it’s not a
good idea to keep highly valuable
or irreplaceable items down there.
Don’t take the risk, keep your
treasured possessions above ground.
Also, make sure any water that enters
your home can drain properly. Keep
the drains in your basement clear of
obstructions and consider installing
a sump pump. If you already have
one, make sure it’s in proper working
order. Also consider installing a sewer
backwater valve to prevent flooding
due to a sewer backup.
By following these simple tips, you
can reduce your risk of flooding and
enjoy the change of season.
The information in this article is
courtesy of the Insurance Bureau
of Canada (www.ibc.ca).
Keep your
home dry
during
the spring
thaw
Spring is here, bringing longer days
and warmer temperatures. That melt-
ing snow is a welcome sight, but it also
presents a flooding risk. Fortunately
there are things you can do to protect
yourself from springtime flooding.
6 reconnect · Spring Edition 2014
7. BUYING A RESALE CONDO?
HERE’S WHAT YOU NEED TO KNOW.
In many ways, buying a resale condo is similar to buying a
house, but there are additional caveats to a condo purchase that
buyers should be aware of.
Is condo living for you?
Before you go through with a condo purchase, consider whether
condo living fits with your lifestyle. Condos often have rules
regarding pets, noise and even drapes and balcony furniture.
As such, condo living requires more “give and take” than a
house. Take that into consideration before you go on the hunt
for a condo.
The status certificate
When you make an offer on a condo, it should be conditional
on a review of the status certificate. It’s a document that includes
a lot of critical information about the condo corporation.
• BY-LAWS AND RULES: make sure you can live with the
condo’s rules. If pets aren’t allowed, don’t try to sneak in your
puppy. Instead, find another property that is more suitable.
• FINANCIAL RECORDS FOR THE CONDO CORPORATION:
the certificate will include the corporation’s most recent
budget and the balance of the corporation’s reserve fund. If
costly repairs are required in the future, insufficient cash in the
reserve fund could require a steep increase in your condo fees
or result in a special assessment.
• UTILITIES: utilities could be included with your condo fees
or paid separately. Each unit could have its own hydro and
water meters, or there could be one set of meters for the
whole building, with everyone sharing the costs equally.
You’ll want to know so you can budget accordingly.
• RENTAL STATUS: when owners lease out their units, they are
required to notify the condo corporation. The corporation
keeps a tally and includes the figure as part of the status
certificate. If you want to rent your unit, it may make sense
to buy in a condo that contains many other tenants. On the
other hand, if you plan to live in your unit, a place where
most owners live in their condo may give you the kind of
community you desire.
• PARKING DETAILS: your unit may include a parking space,
but it’s important to understand whether you will own the
parking space yourself, or whether it’s a common element
owned by the condo corporation that you are assigned, but
that you don’t own.
Ultimately when you buy into a condo, you are also choosing
your community. It’s a big commitment, so take the time to find
a place that suits your personal needs. Don’t overlook potential
issues in the rush to purchase a property. For more information
about buying a condo, check out the Ministry of Consumer
Services’ Condo Guide.
7 Spring Edition 2014 · reconnect
8. Do you have any comments or inquiries about the Reconnect newsletter?
Please send them to: communications@reco.on.ca
Real Estate Council Of Ontario
3300 Bloor Street West
Suite 1200, West Tower
Toronto, Ontario M8X 2X2
Tel: 416-207-4800
Toll-Free: 1-800-245-6910
Fax: 416-207-4820
@RECOhelps
RECOhelps
Disclaimer: While RECO makes every effort to ensure that the information in this publication is current and accurate, RECO does not
warrant or guarantee that it will be free of errors. The information contained in this publication is not intended to cover all situations. It
is general information only and users/readers are encouraged to seek their own independent advice for particular fact situations.
DID YOU KNOW?
There are new options for real
estate commissions
The Government of Ontario has changed
the rules to give consumers and real estate
brokerages more options and flexibility
regarding how fees and commissions for
real estate services are calculated.
Previously, real estate brokerages
could charge consumers a flat fee or a
percentage of the sale price, but not a
combination of the two. This restriction has
been removed, so brokerages now have
the option to make fee arrangements that
include a combination of a flat fee and a
percentage of the sale price.
“While choice and flexibility are good
for consumers, it remains crucial for home
buyers and sellers to educate themselves
and understand what services will be
provided to them and at what cost,” says
RECO Registrar Joseph Richer.
When choosing a real estate
professional, consider the services you are
looking for and the prices associated with
those services. Both prices and service
levels vary, and communicating clearly
ahead of time and getting everything in
writing can help avoid problems later on.
CONSUMER QA
I’m looking to buy a home.
How do I know what’s included?
When looking at a home, you can’t
assume that what you see is what you
get. Buyers can be in for a costly surprise
if they find out that the appliances, light
fixtures, water heater, alarm system or
other items they thought were part of the
home are actually not included. These
items are referred to as chattels.
Before putting in an offer on a home,
ask your registered real estate professional
to confirm, in writing, which chattels will be
included with the purchase. Additionally,
you’ll want to confirm whether there are
any rental or lease agreements in place
that you will be responsible for taking over.
By getting all the details in writing, you’ll
know that you’re making an informed
buying decision.
Message from
the Chair –
RECO Board
of Directors
By Glenda Brindle
If you’re looking to either buy or sell a home,
becoming an informed consumer before you
start can help the process go smoothly. With the right information, you’ll know
what questions to ask and what to expect of your real estate professional, you’ll
understand how the process works and you’ll be able anticipate potential issues
so you can work with your representative to address them.
With a vast amount of information just a few mouse clicks away, the challenge
isn’t finding information; it’s sorting through it all to find a trustworthy source.
As the real estate regulator in the province, the Real Estate Council of Ontario
(RECO) protects the public interest by enforcing the rules and regulations that
govern real estate professionals. We also provide consumers with objective
information about buying, selling and owning a home. In short, if you’re looking
to learn about the buying and selling process, you’ve come to the right place.
RECO is a respected authority and one-stop-shop for valuable consumer resources,
including this newsletter.
Published two times a year, Reconnect offers an easy-to-read way of accessing
a wide range of helpful information, tips and news for home buyers and sellers.
In this issue, you’ll find guidance on common home buying and selling drawbacks,
tips on how to prevent flooding in your home this spring and things to consider
when buying a condo. I hope you enjoy the read, find the contents useful and sign
up to receive future editions by email.
But don’t stop there; I also encourage you to visit our Facebook page
(www. facebook.com/RECOhelps) for daily tips and interactive resources,
watch our helpful videos on YouTube (www.youtube.com/RECOhelps), follow
us on Twitter (www.twitter.com/RECOhelps) and explore RECO’s website
(www.reco.on.ca), which has a section devoted to educating Ontarians about
the home buying and selling process.
8 reconnect · Spring Edition 2014