The Vancouver property market is a multifaceted one. Just recently, just last year, 2016, there have been high price increases for condos, detached single family homes, attached homes as well as other residential properties. This means while there are several options for those who are looking for a home to buy in one of the world’s most liveable cities, it can be complicated to a customer to navigate the waters. This article outlines must-know facts as well as tips to always keep in mind when you are buying a home in this very competitive market. Learn more about Lorne Goldman, go here.
To start with, in a free and very competitive market, such as in the real estate, bidding wars are common; as a buyer, you need to be competitive too. Do not be tricked by the common subject” free offers.” This is just a trick which is used by any other seller to lure buyers. The assurance may look very appealing to the sellers, but as a customer, you need to be very cautious to avoid risks which may come with it. As a buyer, you have to understand the legal repercussions of a subject free offer with a support of a legal professional before taking a move. You have to work with a reputable real estate company that is up for a clean business because even if you are not able to obtain financing despite pre-approval, or in case issues with the house are discovered, as a buyer you will still be committed to completing the signed deal. Find out for further details on Lorne Goldman right here.
With offer scenarios being to o many, most of the listing have timelines for offers to be submitted. Consequently, critical steps that help in protecting the buyers, like home appraisals and inspections are often skipped. Be very careful as a buyer and work with a clean realtor who will help you ensure potentially costly issues are revealed before making the actual purchase.
Considering sellers motivation is also paramount. It is prudent to go an extra mile to notice sellers who are offering multiple offers. Apparently, you will submit the best offer you can afford, but it is advisable to go a step further and consider what could be the motivation of the seller. For instance, a certain seller may be having a motivation because it is a young family looking for some flexibility to accommodate the end of school year. In a nutshell, get to know the what the motivation of the seller might be. Take a look at this link https://en.wikipedia.org/wiki/Real_estate for more information.