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Like any professional you work with you want them to have the most experience possible and competently immersed in their profession. RE/MAX Canada 2019-09-04T10:46:41-04:00 July 8th, 2019 | View Larger Image. When it comes to choosing a waterside property, it’s all about the natural assets. Available amenities? by Marnie Campbell One seller may want to close right away while another may not be planning to close for several months. Mortgage Broker vs. Big Bank: Who should you Choose? If you are a first-time homebuyer, buying a home can be scary and overwhelming. It helps you make a smart home purchase by answering all your questions as you walk through every step of the home-buying process. What is the average time it takes houses to sell in the area? Below we've listed all the things it's worth thinking about when you view a house or flat. All Rights Reserved, 11 Questions to Ask When Hiring a Realtor, 10 Questions to Ask About the Cost of Buying Your First Home, 5 Questions to Ask When Searching for a Home, must ask first-time home buyer questions (1), 26 Must Ask Questions for First-Time Home Buyers (1), 26 Must Ask Questions for First-Time Home Buyers, 3 Steps to Owning Calgary Income Property, 10 Things You Should Know about Home Owners Association (HOA) Fees, How to Find the Right Realtor When Relocating to a New City, Don't Be A Bad First-Date, Consider These Repairs Before Selling Your Home, 7 Reasons to Consider Staging Your Home Before You Sell. If your down payment is less than 20% of your home’s price, you need to purchase mortgage loan insurance. Enoch Omololu is a personal finance blogger and a veterinarian. Where did you buy them from? Why are the current owners selling the house? This post may contain affiliate links. Finding the right home involves research, so you’ll need to ask the right questions. How old is the furnace? Does utility cost appear too high? Learn how your comment data is processed. read. Do they have any vices or bad habits? Basement leaks? You will need to pay the seller back. Mortgage loan insurance. Have the owners ever experienced a pest infestation? Even if a piece of property seems perfect, there are a lot of questions you should ask before you take out that checkbook. Are there any foundation and/or structural problems? When you’re exploring new construction options, you’ll see that each plan comes with a base cost. Image: guteksk7 / Shutterstock.com. In a CID, neighbors share more than just a street name – their properties are entwined as well. 3. Why is the house being sold? Your mortgage lender may ask you to pay for a recognized appraisal in order to complete a mortgage loan. Use the list of questions above to find out early in the process if a condo will work for your particular needs. Before making an offer, here are the questions you should ask a seller and your realtor. Knowing the right questions to ask will help you choose the right lender. Is there enough storage space for you? Find out if you can have changes made to the placement of walls, windows and doors and what the costs would be. © 2020 Enoch Media Inc. All Rights Reserved. When you are buying a house, it’s you who will ultimately be responsible for everything—even if you don’t know about it at the time of purchase. If it's a foreclosure flipper, you might not be able to secure financing for 90 days. Most are somewhere in between. 25. 10. This is why a home inspection is so important. If there are structural problems, have they been addressed? What is the R factor? 2. 10. Any warranties? Don’t limit your home search to the Internet and Open Houses. If you want four bedrooms, is that because you have three kids, or you have two kids so a three bedroom home with a den will do. Does the foundation looks solid and without repair? Even if a piece of property seems perfect, there are a lot of questions you should ask before you take out that checkbook. What was done to address the problem? So be sure to read PART 1 of questions to ask when buying a house. 5. Water heater? Have older plumbing and electrical systems been updated? In other words, what makes him or her suitable for the task? Signs of nesting? Make a list of all the amenities you would like in the neighbourhood you want to live in. 68. Are all appliances included? People often ask if they need to be present during the home inspection. Gnawed materials e.g. My first home buying experience was an eye opener for me: buying a house in Canada was a lot different from the system I was familiar with (being an immigrant to Canada) and I needed to do a lot of reading and research to ensure we were making the right decisions every step of the way. To improve your experience on this site, please share your location. Cracked drywall? Remember you are not looking for the perfect home. 20. It might seem like all the hard work is done: You’ve determined that you want to buy a house, have the funds, and are prepped and ready to apply for a mortgage. Is there any evidence of damp? And to get all 30 questions, enter your name below to download the first time home buying checklist. An appraisal is an estimate of the value of the home. When you’re exploring new construction options, you’ll see that each plan comes with a base cost. A home inspection a condition is typically a condition on your Offer to Purchase. SHARES. Do you do a Buyer Consultation to explain the home buying process? Facebook Twitter Whatsapp Pinterest Linkedin Reddit Stumbleupon Flipboard. Finding the right home involves research, so you’ll need to ask the right questions. Any planned development for the area? 4. However estate agents are legally bound to tell the truth, so you need to make sure you ask the right questions to find out what the real situation is. Is renting or buying a better option? Sticky windows? Your Realtor will know the right questions to ask you to help figure out what your wants and needs are in a home. Be sure their earliest/latest closing date works for your circumstances. Lights dim or flicker when an appliance is turned on? Is there sufficient parking space for your vehicles? How many sold this year? Be sure to ask. If you plan to buy property that does not have appropriate animal shelter, you need to wait. Here are 10 questions to ask when buying a house. What was done to solve the issue and prevent any future re-occurrence? They typically provide a more … However, knowing how much this annually recurring cost is may inform your purchase decision. There’s so much you need to know about a property that a seller might not tell you right away. Mould stains on walls or ceilings? 1. Not only does this show that the Realtor has taken more courses than required, it also shows that the REALTOR takes their profession and clients’ needs seriously. 16. These thirteen questions cover the most important topics for landowners to know about so that you can make sure the land is worth your hard-earned cash. 12. If you want even more questions answered, check out our free Home Buyer’s Guide. Realtors are also overseen by a governing body that has specific rules, regulations and protocol to foster a standard of excellence which helps serve home buyers and home sellers better. However estate agents are legally bound to tell the truth, so you need to make sure you ask the right questions to find out what the real situation is. Typically, the fees for both the listing and purchasing Realtors are paid for by the seller. Do not buy goats until you a barn big enough for them. Do they have space for your children? Severely sloping floors? Realtors complete educational requirements, obtain criminal background checks and are required to complete ongoing mandatory education to maintain their license. Buying a house? What is the reason for selling? Were appropriate building permits obtained? 17. Katie Patten. Do you want a new home or previously-owned home? The home buying process will be easier if you can narrow down the type of home you want to see. For example, if you are selling your condo, ask your Realtor if they have their Certified Condominium Specialist / CCS, certificate. Six questions to ask before you buy a home. Questions to Ask When Buying a House 1. “Ask them to provide you with a recent sales report that shows other similar properties and what they sold for in recent times. The down payment comes from your own money. Are they registered? A recent article on LANDTHINK entitled, “Top 20 Questions for Land Buyers” garnered a lot of attention and created quite a bit of controversy among LANDTHINK readers. Being pre-qualified for a mortgage is the step before being pre-approved. The mortgage lender requires you to have property insurance because your home is security for the mortgage. What haven’t I asked that I need to know? Author's Note: 5 Questions to Ask When Buying a Condo This article was interesting to write because I knew very little about the pros and cons of condo life. A Buyer Consultation is a great time to discuss with your Realtor what costs you need to know about, how you will find a home, what’s involved when writing a purchase contract, conditions like house inspection and much more. Pest droppings? “You want to make sure the house you are buying is fairly priced compared to the rest of the local market and you are not overpa… How do Realtor fees work? Any cracks in the foundation? About the Author: The above Real Estate information on the questions to ask when buying new construction was provided by Bill Gassett, a Nationally recognized leader in his field.
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