I came across a great article written by Mark Weisleder ( a Real Estate lawyer, author and speaker) for the Toronto Star entitled “5 things to consider when buying a resale home”. Here are some of the points he discusses in his article:
- Get information from the seller – some sellers have a professional home inspector inspect their home before they put their property on the market and are willing to give the buyer a copy of the report. Some sellers may also provide potential buyers with a home history report. However, even if this information is provided, buyers should have their own home inspection done.
- Ask the sellers questions – ask the seller or the seller’s REALTOR® if there has ever been any problems with flooding or roof leaks. By law, sellers are required to respond truthfully if asked directly.
- Talk to the neighbours – it is a great idea to walk around the community and ask people about the neighbourhood.
- Include clauses in your offer– Make sure your offer includes a list of everything you expect to be left in the house.
- Get pre-approved for a mortgage – it is very important to get pre-approved by a professional mortgage broker or bank before submitting an offer on a house so you know how much you can afford – be aware that if your lender thinks you paid too much, they will not lend you the amount of money you may be expecting.
To read Mark Weisleder’s full article, click here.
If you or someone you care about is thinking of making a move or if you just want some general information about the Real Estate market in your area, please don’t hesitate to give me a call, I would love to talk to you!
Until next time,