Avoid Buyer Mistakes
Now that you have decided to buy a home, there are a few things you should consider before you make an offer. Taking these things into consideration will help you to have a plan and allow you to think clearly when you decide which home you want to buy.
Getting pre-approved for a mortgage is the first step you have to follow. It will require you to go through a mini application process where your credit rating is checked and some paperwork is done before you go house shopping. A pre-approved mortgage is much better than a pre-qualified mortgage. A pre-qualified mortgage will just give you an idea of how much money you can get.
With a pre-approved mortgage, the bank or mortgage broker will do a credit check and provide you with a much more concrete approval, although they will never guarantee that they will give you the mortgage. This is because they have to approve the home you are buying as well. Once they are satisfied that the value of the home is close to what you are paying for it, they will give you mortgage commitment. With the pre-approval in place you will be a more desirable buyer because the seller will know that you are a serious buyer and are not just wasting their time.
Get to the Newest Listings before Anyone Else
I will send you all of the latest listings on the MLS® System as soon as they are listed. You will receive emails as soon as they are listed. Don’t worry, you will not be bombarded with hundreds of emails. You will just receive the homes that meet your criteria. In addition, you can search all of the listings in Calgary on this site at your leisure. This website is updated every hour, so you will never miss out.
Do not rely on realtor.ca because they don’t get the new listings for days, so a home could be sold before you even see it on that site.
First of all, figure out which quadrant of the city you would like to live in. Usually this decision will be heavily influenced by where you work, unless you don’t mind a long commute. Once you know which corner of the city you want to call home, you can start to narrow it down to specific neighborhoods. Get an idea of what the hottest areas are, price points, best places for a bargain, and check listing to sale price ratios. Once you are aware of where your money will be spent and what it will buy, I can add up all the costs and come up with a list of comparable properties in other neighbourhoods along with the impact each feature will have on the price of the property.
If you have kids, check out what schools are nearby and confirm that there is space available for your children. Also, look at what other amenities are nearby such as shopping centres, restaurants, and entertainment. Another important factor is whether or not the community has anything positive going for it, such as – is it close to transit? Is there a new school being built? Is it close to where people work?
Prove that you mean business
A good faith deposit is an excellent way of showing the seller that you are serious about buying the house. Usually a deposit of $5000 is required to have an offer accepted and sometimes the selling real estate agent will request an additional deposit when all of the conditions are waived
When you are negotiating an offer on your dream home, try to stay focused and try not to let your emotions get the best of you. I will have provided you with all of the comparable homes that have sold recently, so you will have some indication how much you should pay for this home. With this information you will be able decide the top price you are willing to pay.
Do not go Alone
Today’s market requires professional guidance more than ever before. I can help you get a pre-approval, search for the best property, and offer the best price for the desired home. Call me today and let me relieve you of your worries!