Osoyoos Homes For Sale
Once you are serious about buying a home, the first thing to do is to identify the suburb or area that you want to live in. In many places, prices are rising rapidly and if you don’t buy now you could be priced out of your preferred suburb. Once you know where you want to live decide on the type of Osoyoos home for sale that you prefer to live in. Many young couples start out with an apartment in a desirable location, others decide to live in a house with a garden.
How do You Choose a Neighborhood to Live in?
Choosing your neighborhood depends on your lifestyle. If you have children you will want to be near good schools and transport, where a young couple might want to be near shops entertainment, restaurants, and shopping malls. A good sports complex may be essential to you, and if you don’t drive being near transport is essential to get you to and from work. If you have lived in the town for a long time you will know where everything is and will probably have decided on a suburb.
How do You Finance a House or Condo
Once you know your options, organize your finances and make sure that you have a 20% deposit plus costs available. You probably already know this, but the reason for a 20% deposit is to avoid lender mortgage insurance that protects the lender if you default on the loan. Visit your bank of choice and find out what types of loans they can offer you, they may offer offset/ redraw accounts. If you are not happy with the offer visit another bank. Try to get a preapproval letter from the bank. Once your finances are in place, you are ready to find the ideal home.
What are the Benefits of Using a Realtor
Visit several realtors in your chosen area. Go to open for inspections and the realtors will give you a list of what they have available in your price range. If you are really time-poor and can afford to, use a Buyer’s agent (Realtor). The Buyer’s agent can be great value for money as they will identify every house in your required purchase area, and arrange for you to inspect the suitable houses. They do all the leg work for you allowing you to get the best possible deal. They are paid on settlement, usually at a small percentage of the total home cost. The Buyer’s agent is usually a Realtor who has diversified into providing a more personal service and will know all the agents in the area. The main benefits are that they will narrow down your choice of properties to two or three of the best in your price range. They will also attend an auction and bid on your behalf or support you in the process.
How Do You Find a Good Realtor?
- Word of mouth, ask the agents.
- Choose a Realtor that you know has worked in the area for some time.
- Narrow your choice down to two and choose the one who is the best fit for you.
- Choose a Realtor who is capable of answering all your Real Estate questions, as there will be things that you don’t know
- Choose a good negotiator.
Do You Have to Get a Home Inspection?
You don’t really have to BUT, it is better to get one as you are spending a lot of money, and it will give you peace of mind.
The home inspection is carried out by an independent expert who will identify any hidden structural defects that may be unknown or undisclosed by the vendor. If anything serious is found, you can then negotiate the price down a bit, or alternately ask the vendor to fix it before you proceed.
If you are using the Buyer’s Agent he/she will negotiate for you.
Once you have secured the property you pay down a 20% deposit, and that will be held in a trust fund until settlement, which usually takes place 6 weeks later. You will need a solicitor to handle the contracts of sale and settlement, your solicitor will have your best interests in mind when acting on your behalf. On settlement day the bank pay over the loan money.