Thursday, January 22, 2009

Top 6 Home Buyer Tips

Home Buyer Tips when buying your next home in the Crowsnest Pass:

  1. Get Pre-Approved
    Pre-approval and a rate-hold. The pre-approval will let you know how much you can afford and the rate-hold will protect you in case the interest rates go up, while you are going through the buying process.

  2. Select a Realtor
    Research who you are going to work with. Just like a seller interviews 2 or 3 Realtors, so should you as a buyer. Find out who has got the skill sets that you need. If you want me to sell a farm, I'm not your guy. But a home or a condo, I can definitely help you.

  3. Learn the Home Buying Process
    Learn from your Realtor what steps are going to be involved for the type of property you are going to buy. This will help to alleviate surprises and confusion when you are going through the process.

  4. Review Contracts
    Review the paperwork and the contracts. Before I go out with a buyer or a first time home buyer in particular, we review all the contracts so they understand what they are getting into. The best thing you can do is go over those contracts so that you can understand what issues there are in advance. This way we really do reduce the chance of any surprises.

  5. $$$ How much and when?
    You got to know what you are going to need for money. How much and when it is going to be needed. For initial deposit, additional deposits (maybe), inspection costs, lawyer costs and closing costs. You need to know how much money so you are not caught by surprise and find yourself short at the closing table.

  6. Assemble Your Team
    Understand what your team can do for you. Not just your Realtor, but your lawyer and your inspector. Your inspector can only usually do visual inspections. Your Realtor, we can't tell you what to pay, but we can show you evidence and comparables of other properties and review titles with you, and a whole bunch of other stuff that you should learn during your research stage in terms of when you are selecting who you are going to work with. But most importantly, you should have that team in place before you start pulling the trigger and signing documentation.

Always remember, Caveat emptor (Let the buyer beware). With this in mind, call me if I can be of any assistance in helping you with the purchase of your next home.


John Prince, Alberta licensed real estate agent, MaxWell City Central – Crowsnest Pass. Serving the Crowsnest Pass and area. Call me directly at 403-564-4518 or by email at: johnprince@shaw.ca

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