Avoiding Home Buying Nightmares


There is so many details Buyers tend to look over when buying a home.  Here are some tips to avoid Home Buying Nightmares.  If you are not familiar with a particular area, take a walk around the neighbourhood at any given time.  If the home you are interested in is close to a school, drive by or walk by the area and see how congested that particular street can be.  Talk to the neighbours, there are some people that like to dish out the neighbourhood history.

Choose your home inspector carefully, do your homework, go with the inspector that has the 'up to date' tools to find issues behind walls.  Google their company's name, if past clients weren't happy or if they were sued, there may be a 'blog' about them on the internet warning others.

Make sure your lender has done their appraisal of your home.  Make sure that before you waive any finance conditions, your lender has satisfied all the requirements necessary.  Pre-Approval does not mean you'll get the money, there are other variables into play, whether its income verification, proof of down payment and a satisfactory home appraisal of your home.  The Lender will most likely not lend you the money if you overpaid your the home.

People buy homes with basement apartments to help pay the mortgage.  Make sure that if the home contains a basement apartment, and you plan on renting it out, make sure that its legal and it complies with zoning and fire code by-laws. 

 

Vera Aceto

Vera Aceto

Sales Representative
CENTURY 21 People's Choice Realty Inc., Brokerage*
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