Tagged : buyers

There are distinct advantages to having a Realtor® acting for you in buying or selling a property. With careful selection, you can benefit greatly from the skills of a knowledgeable and sincere Realtor®. There are a number of approaches to finding a good real estate agent. For example, friends, neighbors, and relatives may have the names of agents that they have dealt with and would recommend. Open houses also provide an opportunity to meet Realtors®. Newspaper ads list the names and phone numbers of agents who are active in your area. “For Sale” signs provide an agent’s name and phone number. And real estate firms in your area can be located through the Yellow Pages. Any of course, the Internet is one of the most popular methods of research

Mortgage rates weren’t supposed to make record lows in 2015, not if you asked economists and the Bank of Canada two years ago. But they did. And despite all the chatter about the first U.S. rate hike since 2006, Canadian rates could do it again in 2016.

But interest rates won’t be all that’s changing in the coming 12 months. Here are four mortgage trends you need to watch in 2016.

More missed payments?

Seemingly every year the government throws new rules at the mortgage market, lending gets tighter and the housing market gets safer. But one thing Ottawa can’t control is world economics. Despite manufacturing gains from a cheap loonie, global growth is slowing. That and plunging oil means more Canadians could be out of work, and when people lose

A buyer who fails to close on a purchase may be risking more than just the deposit - you could be looking at damages, says lawyer Richard Bell

Q: What happens to my deposit if I cannot close my purchase?

A: Whenever a buyer makes an offer for the purchase of real estate the contract provides for a deposit. The deposit is normally around 5 per cent of the purchase price and in most instances is payable within a day or two of removal of any subjects. The standard subjects are subject to financing and inspection. Where the property is strata titled there will also be subjects for satisfactory review of such items as strata minutes, engineer’s reports and depreciation reports.

The reason for a deposit is to secure the buyer’s commitment to purchase

Submitting a low offer is one thing, but getting the offer accepted is another thing altogether.

Vancouver agent Barry Magee explains the factors

A common topic among real estate buyers is whether or not they should offer a price that is much lower than the listed price. It's an interesting concept, but one that is not without its pitfalls. Submitting an offer is one thing, but getting the offer accepted is another thing altogether. Let's take a look at the different factors to consider:

1) Be Certain You Fully Understand Market Conditions

In a market like Vancouver and the Lower Mainland we are often faced with an inevitable reality – people really like living here. Sellers are more than aware of this, and are primed to take full advantage.

Most purchase and sale agreements come in standard formats, with standard clauses, and are drafted by the builder or real estate board. There are generally spaces throughout the agreement for additional, customized clauses to be added.

It is recommended to have a lawyer review your offer to purchase before you sign it. Regrettably, relatively few people do this, because they either don’t realize they should, perceive it to be an unnecessary or costly legal expense, or could cause delay that could cause a purchase to be lost to someone else, or otherwise kill the deal.

Alternatively, rather than seeing a lawyer before submitting an offer to purchase, some people may wish to insert a condition that states the offer is subject to approval as to form

It is important to determine the real motivation for the owner wants to sell the property. This will assist you in knowing how to negotiate in terms of your offer price and terms and general strategies. The motivation for sale could be a positive or negative one. If the vendor is selling in a buyer’s market, be particularly thorough in finding out why the vendor is selling in a market that is clearly disadvantageous in terms of the negotiating climate and eventual sale price.

Why Principal Residence Properties Might Be For Sale

• Separation or divorce.
• Death of owner or co-owner.
• Loss of job of principal wage earner or of one of two wage earners, when two wage earners are necessary to pay for the home expenses.
• Job relocation.
• Ill

Swimming Pools.. Good idea?

I know its still winter but are you looking for a home with a pool? Here are some facts!!

Sparkling blue water, especially when it's lit up at night – what's not to love about a swimming pool in your backyard? If you have one, you may feel blessed. If you don't, and are considering adding one, hang on a minute.

Who Wants a Pool?

According to Better Homes and Gardens Real Estate, middle-aged buyers with teenagers at home comprise the biggest market segment for homes with swimming pools. This makes sense when you consider how dangerous an un-fenced pool is for families with toddlers.

Another segment of home buyers who may find a pool desirable are younger couples who entertain frequently. There has been a lot

The Canadian Real Estate Association has updated its forecast for 2016, with two provinces expected to lead the way.

“Since CREA’s last forecast published in September, housing markets in British Columbia and Ontario have strengthened further,” CREA said in its updated housing forecast. “As a result, CREA has raised sales and average price forecasts for these provinces.”

National sales for the rest of the year have also been revised higher.

Home sales in Ontario are expected to rise by 9.3%, which would be higher if prices in the GTA were more affordable, CREA said.

“British Columbia is projected to post the largest annual increase in sales activity in 2015 (+21.4 per cent), while Alberta (-21.4 per cent), Saskatchewan (-10.8 per cent), and Nova

Two out of three adult Canadians do not have a will. One out of four Canadians will die suddenly. You can’t take the risk that the Canada Revenue Agency or your provincial government will end up with your money because of poor tax planning and lack of a will. However, there are some classic pitfalls to avoid when preparing your will and doing your estate planning.

# 1 – Not Having a Will or Not Updating your Will and Not Also Having the other Two Key Documents Many people do up a will and forget about updating it. So much can change in terms of your circumstances, assets, beneficiaries and wishes that you need to review your will on an annual basis at a set time, eg. your birthday, the first of the new year or some other memorable time. Also review

While some move to Canada to be with family members or for gainful employment, many others emigrate here to escape difficult situations in their home nations. Regardless of the motivation for moving, owning a piece of property is both a huge point of pride, and one of the most sought-after components of establishing a home in a new country.

But obtaining a mortgage in Canada for the first time can be a tricky undertaking without the right guidance and knowledge. There are several important points for new Canadians to take note of if they plan to purchase property in the near future.

You're considered a new arrival to Canada during your first five years in the nation, and you will be eligible to obtain a mortgage if you have your permanent