|
| |
"A Buyers' Guide" --- for Real Estate in Victoria, BC
 
Many times buyers avoid using the services of a Realtor under the mistaken belief that it costs them money - or that they will be able to negotiate a better deal directly with the seller or seller's agent. This can be an expensive mistake.
If you are negotiating directly with the seller or seller's agent, you may not be taking advantage of the best deal available in the marketplace today!
You can have your own Realtor, a Buyers' Agent or Purchaser's Agent, who will use the experience gained through hundreds of successful negotiations for your benefit - at no cost to you!
The seller pays the commission to your agent and the commission for his or her own agent.
An experienced agent can help you avoid many pitfalls, and make your home buying an enjoyable, stress-free adventure!
Who is the Agent really Working for?
It is important for buyers to know and understand for whom the agent is actually working.
Check out -- Working with a Real Estate Agent
If your browser already has a PDF plug-in
like the Adobe Acrobat Reader, you'll probably be able to simply click on
the document to view it here online. You can download and
install this popular, free software by clicking the link below:
Download Acrobat Reader for FREE!!
The agent may be working as a sub agent - representing the seller's best interests during negotiations - or as your agent representing your best interests during negotiations.
If you are not sure who your agent is working for - ask for clarification. Your Realtor must fully explain.
When negotiations commence, you'll want to know whether the information you divulge will be used for the seller's benefit or for your own.
Negotiating Styles and Strategies.
Many buyers think the way to achieve a fair purchase price is by offering low. This is the strategy of the buyer who is not in possession of all the facts essential to negotiating the best possible deal. Many times that type of strategy will polarize negotiations and lead to inflexibility on part of the seller - or worse yet - failed negotiations.
If you have chosen your Realtor wisely, the most effective strategies for this particular situation will be revealed to you. Experience can mean a better deal at the negotiating table with a minimum amount of hassle.
The "Cleaner" the Offer the Better
A "clean" offer does not concern the price for a house, but rather, it is a word used to describe the terms of the arrangement made between the seller and buyer. If your mind is set on closing on a certain home, then the "cleaner" the deal the better for all involved.
A contract is made "clean" if the buyers are paying cash for their purchase or have definitely qualified for a mortgage, the buyers haven't made any specific contentions within the arrangement or they don't have to sell their previous home before taking over another home.
A "clean" proposal has a considerable competitive edge if you are making an offer that is less than full price or if you are one of many bids on the home. Remember, the "cleaner" you can make the offer, the better the chances are that you are going to get the home you desire.
Home Inspection.
Buying a home is a major purchase usually made after spending just half an hour looking at the home. Isn't it worth ensuring you will not be surprised later with deficiencies costing thousands?
Your Realtor can recommend several companies for you to choose from,and will ensure the appropriate clause is part of the offer.
Know your Rights and Obligations
As set out in the Offer To Purchase. It is important to understand completely the terms of the Offer to Purchase. Wrong assumptions, poorly written or missing clauses and not understanding how the clauses affect the purchase can lead to increased costs or a void contract.
An experienced Realtor can explain the agreement to you and help you to fulfill your contractual obligations.
Communicating with your Realtor®
In order to best serve you, your RealtorŪ needs to clearly know what you need and want. In order to properly instruct them as to your needs, you will have to spend some time sorting through those needs.
One way of looking at things might be "is this a negotiable, or non-negotiable, issue?" For instance, if you have active small children or animals that may dart out of an open door, needing a house on a quiet, low traffic street would probably be a non-negotiable issue. If you want a fenced back yard for these same busy little ones, you may accept a house with no fence providing the yard space was there and the price of the house left you with money to build the fence.
If you list the things you are looking for and what is, or is not, negotiable, you have a good starting point for a discussion with your Realtor®. During your first conversation, your Realtor® may come up with a few things that you have not thought of.
Between your original list and what comes up through your conversation, your RealtorŪ will have a good idea of the type of house to show you. This is just one more area in life where clear communication will make for smoother sailing!
Don't let emotion blind reason.
Buying a home is an exciting time and while usually an emotional decision, it's important that they be validated by facts and reason.
An experienced agent will help remove the emotion from the negotiating process and provide you with the information you need to make sound decisions.
Get financially pre-qualified
Knowing how much you can comfortably afford will ensure you are looking in the right price range and prevent you from buying a home that will strain you financially and emotionally. Having an interest rate guarantee will protect you in times of fluctuating rates and ensure that your initial projected payments do not suddenly escalate, resulting in extra interest charges.
An experienced Realtor can help you initiate this process and can also recommend alternative sources of financing. Being aware of these mistakes will help ensure you receive best value for your dollar when the time comes to buy your home!
Wayne Glazier
Royal LePage Coast Capital Realty
#110 - 4460 Chatterton Way
Victoria, BC
Canada V8X 5J2
Tel: 250.477.5353 Fax: 250.477.3328
Toll Free: 800.461.5353 E mail: rwglazier@soldbc.com
Home |
Buyers' Guide |
Sellers' Guide |
Properties For Sale |
Mortgage Info |
Calculators
City of Victoria |
Drive-By List |
VREB News |
Victoria Links |
Contact
Top of Page
 This site is best viewed using Internet Explorer at a screen resolution of 800 x 600
Designed and maintained by
Cypress
Copyright © 2006 All rights reserved.
|
|
