As Canadians we are constantly moving and resettling with our final goal being able to find a home we can call our own. On the outside looking in it would appear we are obsessed with the idea of owning homes. When you are a first time home buyer you should always be on the lookout for "breaks" that will help you get into your first home with ease.
Surfing the internet, talking to friends and family may not be enough as the fear is always there that you may make the wrong move and dash your chances, that are already slim with all the recent Mortgage Industry Changes.
Have Confidence When Negotiating or Making an Offer
It's normal to feel anxious and nervous when getting ready to make an offer, especially if the home you found is "the one". (But if you found that one, you will find others should this offer not pan out). There are no right or wrong prices, there is only knowledge, logic and understanding. So chose your Real Estate Professional carefully, to help you make solid offers with little reluctance.
Look At Price Comparisons Before You Pull the Trigger on the Deal
Your Real Estate Agent, at this point is going to be worth their weight in gold to you. Agents will have a lot of data that you can draw upon to help you make a good solid offer. What to keep in mind - pay special attention to pending sales, recent sales in the area, and ask for more information regarding the seller. Arm yourself with as much information as possible.
Keep Digging for Information.
Understanding where the seller is coming from in their pricing is important. How long has the house been on the market? Why are they selling? Are there other Buyers? and in the current Victoria Market, there will likely be several vying for a good deal. Be prepared for competing offers, and what is your comfort level in a competing offer situation. The information your agent will provide during this process will play a huge role in the offer you bring forward.
Keep Your Lender in the Loop
Keep your lender apprised every step of the way, and ensure your Lender will provide you with a pre-approval letter, and ensure your lender is ready to move when that offer is made, all the pieces are in place for a smooth process. Ensure you know any room you may have to move should a competition arise, or are you prepared to simply walk away, as it is easy to get caught up in the emotion of a "bidding war". Know your top end ceiling and don't go past that.
Remember to Discuss the Terms of Sale
Price is the most important factor, but there are others as well. For example, what is the timeline for Inspections? Snags can prevent an early close to the sale. Some may want a quick close, others may need more time due to complications related to financing and approvals.
Remember, to make it as quick and seamless as you can, as you may likely be competing with other buyers, and they will take advantage of any hesitation. So, if you are in a position to close fast, then why not do it?
Remember there will be other houses, the first one you fall in love with, will not be the only one you find. There are people daily wanting to sell their houses, the key is to be as ready as possible to make yourself the most desirable buyer. Buying a house can be an incredibly hectic, and stressful process, with the right information and the assistance of Tammy Marcoux at Victoria Home Sale, we will make the process as seamless as possible.
Please visit my website and create a search that will keep you up to date on all the listings meeting your specific search criteria the moment they hit the market!
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