What You Need to Know BEFORE You Buy/Sell

So many home buyer’s, seller’s and some REALTORS® think they know exactly what they are doing when they enter the market to buy or sell a home. However, they find that after a while, their limited knowledge & experience proved out to be very wrong. The key to the successful purchase of a home or any property for that matter is a term we refer to as “POSITIONING”.

“POSITIONING” simply means “placing yourself in a position to immediately act on and purchase a property you might desire”.

… and with an offer that is conditional only upon a short term (5-10 banking day) finance and/or home inspection clause.

If you own a home that needs to sell before you make your next purchase, you should place your home on the market only after you depersonalize and stage it, and then once you obtain a Buyer, you can then allow yourself to be in a position to act on your next home without disappointment. If you don’t follow this logic what most likely will happen is you look like a dog chasing it’s own tail, and if you ever seen a dog do that, it looks quite silly, the same way we look when we don’t follow this good, practical & sound advice.

Once you have a secure Buyer for your home, you make sure the closing date is at minimum 90 to 120 days from acceptance. This will allow you the time necessary to shop the market thoroughly and act immediately on a property that meets your family needs. Otherwise, it becomes an emotional roller coaster, making your search for a home extremely frustrating and an annoying process to say the least. You must realize the home that you have finally found that suits your needs will also be perfect for dozens of other Buyers in the marketplace at that very same time and, whomever has their Positioning in place will ultimately buy the property, you then have just experienced the felling of a dog chasing it’s own tail.

If you do not have a home to sell, make sure you always obtain a mortgage pre-approval before you start your home search. This process costs you absolutely nothing and can hold rates for a period of up to 120 days and can be done at any Bank, Credit Union or with any Mortgage Consultant. Future Homes also provides this Mortgage Service free of charge and at lower rates.

Also, make sure you deal with a reputable licensed REALTOR® who knows the marketplace you are contemplating buying within. In dealing with a non-licensed online based home selling company, they have no real experience in the Real Estate industry per say and you end up dealing with the actual Seller and that will certainly not result in an outcome in your best interest. Make sure you enter into a Buyer Representation Agreement in which the REALTOR® is obligated by law and has a fiduciary duty to represent your best interests and not the best interests of the Seller. It is critical for you to obtain the price and terms most satisfactory to you.

So many people think they should automatically call the REALTOR® or Sellers number posted on the lawn sign; some believe they get faster or more direct information and later think they might get a better deal by doing so, and that is definitely not the case if you want someone protecting your interests. Future Homes also provides this Buyer Representation Service also free of charge. Always remember, the REALTOR® whose name is on the lawn sign was originally hired by the Seller to get them the highest price and the best terms. Hardly the person you want working for you when you’re about to embark perhaps on the largest purchase and investment of your life.

By Robert Tatomir, Broker of Record
CREA Canadian Commercial Council
Future Homes & Real Estate Ltd. Brokerage