Buying directly from owner? I can help!

There's an increased level of risk that a buyer takes when buying a home directly from a seller without having a Realtor to represent your interests or negotiate on your behalf. The seller may not be disclosing to you any lack of permits for development, deficiencies or structural issues or that the home you're interested in may have, so the onus is on you, as a buyer, to make sure you're taking all the steps to do your due diligence. There's also an increased risk of having misunderstandings, running into legal problems, losing your deposit, etc. And last but not least, there's a risk that you may be paying much more for the house than you have to, either because you don't have market data immediately available to you or you don't understand how the market data you may have applies to the value of the house you're interested in.  

If you're interested in purchasing a home that's being privately sold, I would be happy to sit down with you (at no cost and without obligation) and go over steps that I recommend you take to protect yourself. I'd do this because for free because I believe that if I help you now, to achieve your goal, you'll help me down the road by referring me to anyone that you know who's planning on buying or selling a home. I also believe that if I help you now, I would be your Realtor of choice if you ever needed one in the future.

Before deciding to make an offer to a private seller, we can sit down together and over the bases that you may want to cover to protect your interests and give you peace of mind. Topics we'd cover would include:

* Looking beyond the staging and wow factor to search for red flags.

* Documentation and information that you should be asking to look at.

* Are features such as developed basement, deck, storage sheds, hot tubs,, fences, renovations permitted and in accordance with municipal bylaws?

* What key questions can you ask to see if the seller is truly motivated to sell or just testing the market.

* Does the seller actually own the home and have the legal authority to sell it?

* Who else has say in the selling decision?

* How to write an offer that secures the house but also allows you to back out o the deal without delay, if you've misunderstood a contractual obligation, term or condition, made a mistake, been  

  misled, or left yourself vulnerable to lose your deposit for no good reason.

* Be confident that you have up-to-date information on comparable homes that have been recently sold in the neighbourhood so that you're informed, in a good negotiation position and confident

   that you're getting a fair deal.

* Know what terms and conditions you should insert into an offer to benefit and protect you.

* What options are available to you if the inspector reveals to you in his or her report?

*  Understand the sequence of events that takes place from the time you have an accepted offer on a house to the time you take possession of it.

 

 

Karim Keshavjee

Karim Keshavjee

REALTOR®
CENTURY 21 All Stars Realty Ltd.
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