5 Tips for Finding the Right Mortgage Professional for Your Needs

5 Tips for Finding the Right Calgary Mortgage Professional for Your Needs

Finding the perfect Calgary home is only the first step in the journey towards home ownership. The next step is a financial one and comes with many questions: Is the home being bought with cash or is a mortgage needed? Will the buyer be using a mortgage broker or going through a bank? If those questions don’t have definitive answers then maybe it’s time to turn to a mortgage professional for help. Here are five things to think about when searching for the right mortgage professional.

Talk to Recent Homeowners about Their Experience

Some people have negative experiences when buying a home, but most of them loved the team they assembled and would recommend them to anybody who asked. One of the best ways to find a mortgage professional is to talk to friends and family members who have bought a home in the last few years about their experience. It’s the easiest way to get honest feedback and everybody who loved their Calgary mortgage professional will be more than eager to share that information.

Meet with a Wide Variety of Professionals

The best way to get to know somebody is to meet face to face. Websites, ads and personal recommendations can only reveal so much about a person and nobody can know how much they connect until meeting firsthand. Make sure not to jump the gun and settle after the first meeting, it’s important to talk to as many professionals as possible to make sure the right choice is being made.

Ask for a History of Lenders They do Business With

Mortgage brokers receive a fee from the bank or financial institution where the mortgage is set up. This is to be expected but it can lead to a broker giving preferential treatment to a lender that gives out a larger fee. A professional who does business with many different banks will probably look out for the client’s interest more than one who only does business with one or two financial institutions.

Look for a Professional with Years of Experience

The real estate market in Canada has gone through a massive boom in the last ten years, which resulted in plenty of people switching their professional focus to capitalize on the increased work. This is why mortgage brokers are so popular across the country now, which has benefits and drawbacks. The benefit is that the buyer has more choice.

Make Sure They Have Experience in the Community

Make sure any mortgage broker is local and has experience in the community, just because it’s the buyer’s first time doesn’t mean it should be their broker’s first time. Buying a new home can be scary and stressful, but if you’re surrounded with the right team it can be the seamless experience that other people brag about.

Have questions or would like more advice on buying your home in the Calgary area? Get in touch with Scot today. INSIGHTFUL and proper representation is key when buying and selling property. Scot Rose has over 15 years of full time, full-service real estate experience. The Team will give you results that show how experience and coordination of vital services can make a difference to YOU!

Buying a Home?

With today’s real estate market, it’s not uncommon for a family to find the perfect home only to find out that their offer was not selected. It can be devastating, but especially frustrating if there is no way to discover why the offer wasn’t accepted. What was it that made the difference? Some buyers are really crafty when they submit an offer and use some tiny tricks that make their deal hard to ignore. Here are some ways to make sure any real estate offer is the first one considered.

Keep it Simple for the Seller

When the real estate market is slow and there aren’t many offers rolling in, the buyers have their pick of homes and can make deals or add clauses to the contract that benefit themselves. It wasn’t uncommon for a buyer to make an offer for a home that included a term dictating that they would need to sell their own home first. In some cases, any requests like this will automatically disqualify a potential homebuyer from a bidding war. Why would a seller agree to this if somebody else is willing to buy right now?

One-Up the Competition with a Pre-Approved Mortgage

There is nothing worse than agreeing to sell a home only to discover the buyer does not get approved for a mortgage and then it’s back to square one. As a buyer, a quick way to move to the top of the list is to get pre-approved for a mortgage. This proves to the seller that if they accept the offer the home will more likely change hands and the deal will go through, it also has the added benefit of allowing the buyer to know exactly how much they can put down in advance.

Discover and Include the Seller’s Needs

Everybody has a reason for selling their home and some are more time-sensitive than others. A real estate professional will be able to find out exactly why the home is being sold and see if there’s any helpful information that can help when crafting the deal. For instance, some sellers have a closing date that they desperately need to hit and may be willing to accept a lower offer if it is guaranteed to meet that date.

Some Extra Incentives Won’t Hurt

Sometimes the seller will end up looking at multiple offers that are all for similar amounts. At that point, some tiny incentives might make the difference between a winning or losing bid.

Every community is different and every seller has different criteria that need to be met in order for them to accept an offer. By teaming up with a professional REALTOR® you will have somebody working with you to find out what the seller is looking for and what you can do to sweeten the deal and put it above any competition. Let Scot Rose help you find your dream home and craft the winning bid today!

If you are considering selling your house, there are a number of things you will need to do. Selling a home involves much more than just posting ads in local newspapers and setting up a “For Sale” sign on your lawn. If you want to get the best price for your home, you need to plan the sale strategically, make a concerted effort to showcase your property in the best light and ensure it gets a lot of visibility.

Here are top 10 things to do before you sell your home. While some of these things are pretty simple, others may take some effort. But you will find it’s all worth the trouble once you find buyers complimenting you on the way your house looks and how well it’s maintained. Hopefully, this will also act as a catalyst to get a good price for your home.  

1. Look for a credible and experienced real estate agent

Many sellers believe they would be able to sell their house themselves and save the commission they would have otherwise paid to an agent. This may seem pretty tempting at the time, especially if it’s a seller’s market, but it’s best not to take that route. It’s not uncommon for these “for sale by owners” transactions to go awry and you will only end up losing time and money.

While working with a real estate agent is definitely beneficial, you need to be prudent and choose the right professional. It’s never a good idea to hire someone blindly just because a friend has used that agent’s services in the past. It’s important that you conduct some research and identify a few local real estate agents that are experienced and reliable. Interview a few of them to determine who would be the right fit.

2. Improve the curb appeal of your home

If you were out shopping for something, would you step into a store that had a drab display window or a poorly-maintained, unappealing frontage- most likely not. Making a good first impression matters a great deal, and this is why you need to focus on how the exterior of your home looks. Make some simple changes/additions that will improve the external appearance of your home and the entrance.

Mow the lawns, trim and prune the bushes and plants, make sure there is no debris or dirt lying around and place a few attractive potted plants near the entrance to your home. A fresh coat of paint or polish to can do wonders for your front door. All of these may seem like very basic and simple things, but they go a long way in improving the curb appeal of your home.

3. Get rid of all the clutter

When you are getting your house ready to show, keep in mind that less is more. Get rid of all the excess things in your home. Go through the closets, cabinets and all other possible storage spaces and do a thorough spring clean if you must. Either donate or dispose of things you don’t need or haven’t used for a very long time. Cluttered spaces will only mar the beauty of your home and won’t give potential buyers a clear idea of what the house looks like. Curious buyers are apt to open kitchen cabinets and drawers, closets etc. to check whether there is sufficient space for their things. Clearing the clutter before you put your house up for sale means you have one less thing to take care of when you finally move.

4. Remove all other distractions

Just as clutter can distract potential buyers from actually looking at all the indoor spaces and the features and installations in it, personal items such as photographs and other memorabilia also act as distractions. It’s important that you de-personalize all the indoor spaces. If there are any bold or eccentric furniture pieces or artwork, its best to either remove or replace them with something less eye-catching. The idea is to create a blank canvas so prospective buyers will be able to visualize their own things in that space.

5. Give the walls a new look

If you have bright and bold wall colors or have an accent/feature wall, consider getting the rooms painted in subtle colors. While you may love that turquoise blue wall in your bedroom, a potential buyer may not take a fancy to it. Sometimes, features such as these or decorative elements in bold styles and themes can prove to be a turn-off and can impact the sale.

Neutral colors and subtle wall color shades are a much safer option as it’s rare for people to hate them. The light colors lend expansiveness to the space and give buyers the chance to envision how the rooms would look in the colors they like.

6. Do a thorough touch up

Even if you aren’t getting the entire house repainted, make it a point to refinish or repaint scuff marks on walls, doors, and baseboards. This will give your home a well-maintained look.

7. Fix things that don’t work as they should

Make sure that all the handles and doorknobs aren’t loose, no hinges are coming off cabinets and that there are no loose floorboards or step boards. Discerning buyers will notice all these seemingly small things; it will set them wondering as to what other things in the house are damaged or don’t work; and this is something you want to avoid.

8. Add a few special touches

While it’s best to remove embellishments such as décor pieces and extra furniture, it’s a good idea to add some plants to the indoor spaces of your home. You can also place vases with colorful, fresh flowers on the dining table or a sideboard. These will lend a very pleasant, welcoming look to the space.

It’s a good idea to consider staging. Home staging professionals will carefully evaluate the current condition of the home, the items in the indoor and outdoor areas and determine which of these will help create a great first impression on the buyers. They may also recommend that you rent/purchase a few items or may reorganize the furniture etc. to achieve a more appealing look. Want to sell your Calgary home? Get started with a FREE HOME EVALUATION by Calgary Realtor®, Scot Rose. 

Buying a house and all the planning that surrounds the process can be exciting yet very taxing, and this is something prospective buyers need to prepare for. Regardless of whether it’s shopping for houses or preparing to get a mortgage, a mistake when purchasing a property can only lead to numerous future headaches.

Most properties that are for sale will have agents representing the sellers and they are called seller’s agents or listing agents. Their primary responsibility is to ensure the seller gets a good deal and that their best interests are protected.

If you are the buyer, how can you make sure that your best interests are being protected? That’s not very difficult- hire a buyer’s agent! There are a number of reasons why you should you work with a good buyer’s agent when purchasing a house. This person will look out for your interests and help ensure you get the best deal possible. Here are some reasons you need to hire a real estate agent to buy a house:

1. It’s free

This is one of the most obvious reasons to work with a buyer’s agent when purchasing a property. There are very few instances in which it costs you money to hire an estate agent while buying a house. Sometimes, in a sale by owner (FSBO) circumstance, the seller may not be willing to pay the agent’s commision and this is when that cost passes on to you. While this is a very rare scenario, it’s important that you be aware of this possibility. But 99.9% of the times, if you are the buyer, it’s free for you to hire a buyer’s agent.

2. They are knowledgeable

Whether you are purchasing your first house or the fifth, it’s very likely that you don’t actually look at various properties on a daily basis. In comparison, credible and well-established buyer’s agent looks at literally dozens of houses every single day. This means they know exactly which red flags to look out for when viewing properties. Identifying existing/potential pest problems, leakages, and structural issues before you even consider buying a house, is the best way to avoid problems and heavy expenses in the future.

3. Local knowledge

Every real estate market has its own distinct quirks and personality so to speak. These markets can vary significantly from one city/town to the next and there can be a vast variation in neighbourhoods too. This makes it crucial to have a good understanding of the local market. A buyer’s agent understands the intricacies and nuances of the local market. It’s a good idea to work with a real estate agent with local knowledge as they can help you save a pretty penny on your home purchase.

4. Evaluating and securing financing

The real estate financing landscape can be extremely complex and confusing. A buyer’s agent will help with evaluating and securing financing that is best-suited for your circumstances. They will provide you detailed information about all the financing options, which helps you make a more informed decision.

5. Coordinate showings

Coordinating a showing isn’t an easy task for you as the buyer. But a good real estate agent will be well-versed in this aspect. They will be responsible for planning and coordinating the viewings of various potential properties. This gives you the opportunity to view all the potential properties you are interested in if they are available.

6. Navigating the paperwork

A good agent will know how real estate contracts need to be written. Even if you have purchased homes in the past, it’s unlikely you are conversant with the nitty-gritty of real estate contracts. But the agent will know all the ins & outs of the contracts, how they should be written, the deadlines that have to be met and what the other important components of the contract are.

7. Access to different professionals

When your real estate transaction is being finalized, there are a number of professionals that are required such as a home inspector, a mortgage originator and a real estate attorney, and a handful of other professionals. A real estate agent will have business connections with these several professionals from all these categories that they can recommend to you.

8. Handle negotiations

Most homeowners aren’t very confident in negotiating their offer price for a home they have liked. However, when you hire a real estate agent, they negotiate on your behalf. For instance, if a particular property that you are planning to buy is overpriced, they will complete a comprehensive comparative market analysis to identify and prove that the property is overpriced. And this gives you the leverage you need while negotiating a lower price.

9. On schedule transactions

While there can be delays in real estate transactions, it’s not something you would like to deal with. Delays can be frustrating to you as well as all the other parties involved. When you hire a real estate agent, it’s highly likely that your transaction will stay on track with the schedule. There are a number of different reasons why there can be delays in a real estate transaction and many of these can be easily avoided when you hire an experienced buyer’s agent.

10. Helps you maintain objectivity

Buying a property has an emotional aspect and that can distract you from being objective. For example, if you have taken a fancy to a particular home, you may be more likely to look only at the pros. Emotion has no place in a real estate deal; you need to maintain objectivity, understand what all the pros and cons of a property are before making your final decision. A real estate agent can act as an emotional filter at this time. They have no emotional attachment to a property that you may be interested in. This means they can keep you on track and avoid making a rash decision.

As you can see, there are a number of good reasons for hiring an experienced local real estate agent. Get started with a FREE HOME EVALUATION today! I will look out for your interests while you are making this sizeable investment.

If you are either buying or selling a home, you need to judge the vibe of the market. It’s probably equally important to understand how the psychology of home buyers & home sellers in your specific market works. There are also some distinct times of the year when there is a surge in home sales and purchases. Let’s take a look at what these trends are. This will give you a better understanding of when the best time to buy and sell a home is.

January–March

The biggest house selling season is from January-March. There is a distinct reason why this is a very popular time for house sales:

• Families with kids are eager to get their home sale/purchase finalized by late spring. That helps avoid any disruption in their children’s school schedule.
• Some people want to buy a home at the start of the year because they don’t want any interference with their summer vacation.
• Others prefer this time for their property sale for tax purposes.

With so many buyers in the picture, it’s no surprise that spring is the perfect time for people to put their homes on the market. This leads to increased buyer competition, which results in a rise in property prices at the start of the year. If you are planning to sell your home and buy a new one right after that, you will find the best selection of homes at this time of the year.

Spring

While there is a large selection of homes during spring, the competition levels are higher too. If you are more inclined to look for a good bargain, you’d have to put in some extra effort and time to find something that suits your budget. But since there are such a large number of houses on the market, you will eventually find the house that suits your requirement.

June- August

Those who purchased homes in the Spring start moving during the summer months. The rest will be on vacation and this means summer isn’t the best time to put your home on the market. Buyer activity levels are lower, and it may take a wee bit longer for you to sell your home at this time.

If you are selling your current home to purchase another one, summer is the best time to find good deals. It isn’t difficult to find sellers that have invested in a new home and have to sell the existing one quickly. While there is less property on the market, you may be able to do some bargain shopping with these motivated sellers.

Fall

If you are selling your home in fall that can be quite a risky proposition, overpricing your property will only make it unsalable. But if you really need to sell at this point of time, make extra efforts to monitor buyer response. If you find it to be very weak, you should be flexible and willing to lower your price. On the other hand, if you are a risk-taker, this period mat work out perfectly for you; it’s an ideal time to sell at a higher price and buy at a lower one.

If you are buying a home, property owners that sell during fall are in quite a rush to sell. Some of them will have purchased a new home during spring even before they sell the older one. Many of these people may have overpriced their homes during summer and end up slashing prices because they have been unsuccessful in selling the property at that high price.

A number of people prefer to sell their home during fall and buy a new one in December. They pay their tax-deductible expenses.These people are hard-pressed to sell and if you are buying, you may end up getting a good bargain from sellers like these.

Winter

This is probably the worst time of the year to sell a home. During the holidays, people prioritize buying gifts and spending time with their family and friends and no one has the time to focus on buying or selling at this time. If you don’t have an option but to sell in the winter, be prepared to deal with bargain hunters. Since very few buyers are scouring the market for homes during Christmas week, there are very low chances of any competition or multiple offers.

In the same strain, this season doesn’t offer a great selection to a home buyer. Unless you have oodles of patience and are a serious bargainer, the recommendation is that you abstain from looking for and buying a home during this season. Home prices typically drop down to a 12-month low during this time. And so, if you do find that someone is selling their home during Christmas time, it’s a sure-shot indication that the person is open to bargaining and is eager to sell that home; and that may be your chance to get a great deal.

While being aware of these market trends is important, it’s also vital to understand that the best time to buy a house also depends on the buyer’s or seller’s goals and individual circumstances. Every person enters this landscape with a different profile and something that works for one individual might not work for the other.

For example, if your goal is to save money to meet the 20% down payment requirement, and you have almost achieved that goal, then it’s important that you stay on track. Vacillating between decisions only because the housing prices or interest rates are ebbing and tiding will just shunt you off track from your goal of meeting that 20% down payment amount. Forecasting interest rate changes and how the market volatility is going to impact your home buying plans is important no doubt, but you don’t have any control over these external variables. What is probably more important is that you identify what works best in your situation and make a prudent choice when it comes to buying or selling your home.

Looking to buy or sell in the Calgary area? Get in touch with Scot Rose, Calgary Realtor®, today!

Preparing to Buy a Home – Three Important Factors to Consider

Are you getting ready to purchase a home? This is an exciting venture and one for which you will want to be prepared. If you have certain priorities listed and planned for ahead of time, it will help you to focus on enjoying the home buying experience.

Here are three important points you will want to consider ahead of time:

1. Needs and Wants

You probably have a great deal of things you want to have in your new home. Take the time to list, examine, and prioritize them.

Start with a list of all the things that are swirling around in your head. Write them down as they come to mind, not in any particular order at first. Once you have your list, it’s time to take a closer look. You may want to make three columns on a sheet:

• Column one – This column will be the things you must have in your home; the “need” column.
• Column two – This column will be the things you would like to have and, very well may be able to have; the “want” column.
• Column three – This column is your dream list. It would be great to have these things; this is the “wish” column.

Now you have some guidelines that will not only help you but also your real estate agent.

Location

The location of your house is important for many reasons. Think about the things that matter to you and make sure you look in areas that are conducive to your needs.

Do you have school-age children? If so, you will want to do a bit of research about the schools in the area. If you have a baby or toddler, you may wish to look into daycare or preschool programs. Kamloops is made of up many neighbourhoods. You may want an area that has families with children that are in the same age range as yours.

How far do you want your house to be from your job? Consider the amount of commute time you are willing to spend to and from work and focus your search in that circumference.

If you have family in the Kamloops area, how close do you want to live?

Budget

One of the most important things you will need to know before beginning your quest to find a home is how much you can afford. The best way to determine this is by meeting with a mortgage broker. These professionals can help you by verifying the amount of the mortgage you qualify for, helping to determine the price range you should be looking at, and explaining how much you will need for a down-payment.

Once you have these three steps completed, it’s time to move forward with your buying agent. Sharing this information with your realtor is going to make the process easier for everyone.

Contact me today and let’s get started on this exciting venture!

Every seller wants their home to get sold quickly and attract a good price. While that may be the case, ensuring this happens has very little to do with chance and luck and more to do with careful planning. A potential homebuyer will always be more impressed with a home that’s in a state of good repair, looks presentable, neat and clean. Here are some ways in which you can prepare when selling your home.

1. It’s important to set your personal attachment aside

If you have lived in a particular home for a long time, it isn’t easy to let go. There will be memories attached to that place and you will have decorated and maintained the place with care. But it’s important that you make the break and here are some tips on how to do it:

• Tell yourself that it isn’t your home and that it’s a house; something that can be bought or sold, much like products you would buy at a supermarket.
• Be firm with that “let go” decision and focus on the fact that the house won’t be yours any longer.
• Visualize yourself handing over the keys and the warranties for all the appliances to the new owners.
• It’s important that you look into the future rather than a glance into the past.

2. De-personalize all the rooms

Remove all your family heirlooms and personal photographs and memorabilia as these can distract the buyers. The idea is to allow buyers to imagine all their belongings in that space as that takes them one step closer to buying a home. The buyers need to see themselves living there versus wondering what kind of people live in the house.

3. Clear all the clutter

This is a very crucial aspect of preparing to sell your home. It’s natural for us to collect things and not be able to discard them even after they are no longer required. The simple rule to follow is that if you haven’t used a certain item in over a year, its best to get rid of it. You have the option to either throw it away or donate it to someone. Some of the other things you can do are:

• Pack up the knickknacks
• Remove all the books from bookcases
• Clean everything off the kitchen counters.
• Put all the essential items in small boxes and put them away in the closet.

4. Rearrange storage cabinets & bedroom closets

Buyers often open closet and cabinet doors randomly while walking through the house. When all these spaces are well-organized, the message it sends to a potential buyer is that you are equally particular about taking care of the rest of the house too. Some of the things you can do include:

• Stack all the dishes neatly.
• Alphabetize all the spice jars in the pantry and kitchen.
• Hang shirts together- facing the same direction.
• Turn all coffee cup handles facing the same direction.
• Line up all your shoes properly in the closet.

5. Consider keeping extra items in a storage unit

Most homes show better when they have fewer pieces of furniture. It’s a good idea to move the extra pieces of furniture into a temporary storage unit and only keep the basic ones. This will open up and improve the movement flow in the spaces and make the rooms look more spacious. The furniture you keep should only showcase the purpose of that room, yet leave sufficient space to move around comfortably.

6. Replace or remove favourite pieces

If there are certain built-in appliances, features, fittings or window treatments that you want to take, it’s best to remove them when you are prepping your home for sale. If there are antique pieces or items that you are emotionally attached to, replace them with something else. That way you won’t have to tell a buyer it isn’t for sale. Sometimes, denying a buyer an item they have taken fancy to can blow the deal. This is why it’s best to either replace or remove those items if necessary.

7. Conduct minor repairs

In a seller’s market, it’s possible to sell a property in the condition it is in without too much of a hassle. But in a buyer’s market, the state of the features and installations in your home can make or break the sale. Based on the condition of the house, some of the repairs you may want to conduct include:

• Patch holes in drywall.
• Replace cracked floor tiles.
• Replace kitchen and bathroom wall tiles.
• Fix leaking faucets.
• Fix doors that jam or don’t close properly
• Fix kitchen drawers that jam.
• Consider giving your walls a fresh coat of paint- opt for neutral colours especially if you have eccentric taste in colours and décor.
• Replace dysfunctional light bulbs.
• Replace worn bedspreads.

8. Get your house cleaned thoroughly

When you are listing your house for sale, you need to ensure that every nook and cranny of it is clean. Since this can be a pretty laborious task, consider hiring house cleaning professionals for the job. Some of the things that need to be focused on include:

• Clean the windows inside & out.
• Clean out cobwebs.
• Pressure-clean the driveway, sidewalks and the exterior walls of your home.
• Polish mirrors and chrome faucets.
• Re-caulk tubs, showers, and sinks.
• Vacuum daily.
• Clean out the refrigerator.
• Replace worn rugs.
• Wax wooden floors.
• Dust the furniture, ceiling fans & light fixtures.
• Bleach dingy grout.
• Hang up clean, fresh towels.
• Get rid of bad odors in all the rooms.

9. Enhance curb appeal

You need to ensure that buyers are encouraged to get out of their cars and walk into your home. This means you need to focus on enhancing its curb appeal. You can do this by:

• Making the front door and entrance area look welcoming; clean the space, paint/polish the front door, hang or place potted plants around the front door.
• Make sure all window treatments in the house hang level.
• Keep the sidewalks clear of clutter.
• Mow the lawns & trim the hedges.
• Paint faded/deteriorated window trim.
• Ensure visitors can read your house number clearly from the street.

The one way to get all aspects of preparing a home right is to hire staging professionals for the job. I have the expertise to prep and stage your home so that buyers see it in the best light – get in touch today!

The common thought that most prospective home buyers have is that they would be “easily” manage their home purchase themselves. The internet and easy access to information has made it possible for people to handle much of the legwork themselves. But there really is no substitute for a knowledgeable and skilled professional buyer’s agent. An experienced negotiator who knows the vibe of the market can save you considerable hassles, money and time by helping you make an appropriate offer, getting tough when necessary and getting the best possible deal.

But it’s important that you don’t just call the agent that shows up on the listing and sign up. Keep in mind that the agent works for the seller and will obviously keep the seller’s best interests in view. You need to work with a buyer’s agent who will exclusively represent you. Most agents require you to sign a contract that says you won’t work with any other brokers for a specific time frame.

But the fact is that the benefits of hiring a skilled and experienced real estate agent far outweigh the commision they charge for their services. They can make the process of buying a home less stressful, less expensive and less time-consuming as well. Take a look at how a real estate agent can save you money when buying a home:

1. They have the right business contacts

When you are considering buying a new home, you need to have the right people in your corner, or else the process can get very expensive and you may not even find the right home for your needs. It can be very time-consuming and tedious to scour various real estate listing sites, go through the details of different properties and visit many of them to identify whether they suit your needs.

Once a buyer’s agent knows that you are serious about buying a home, they will make every effort to show you properties that fit your requirements and budget. Many great agents also have access to off-listing properties and you will save time (which translates into money) on looking for a suitable new home.

2. They have the experience to help improve your odds in negotiations

Quoting a buying price isn’t something you can do off the bat. If your offer price is far lower than the listing price, the seller might not consider your offer at all. On the flip-side, if you quote an excessively high selling price, you may end up paying far more than the house is worth and may rue the fact later.

When you attempt to buy a home without help from a buying agent, identifying what the right offer price should be can seem just like a guessing game. However, when you hire the services of a great real estate agent, their knowledge of the local market is a plus. They will be able to guide you on what the right offer price and this improves your chances of sealing the deal.

A qualified and experienced agent will have deep knowledge of the current real estate trends in your local area, the price at which homes similar to the one you are planning to buy etc. This helps speed-up the home sale process for you and saves you, time, money and the trouble of looking at a large number of homes before zeroing-in on one.

3. They help you save time

It’s not uncommon for buyers that are managing their property search on their own, to believe that the process won’t take too much of their time. They feel that all they need to do is look on the right real estate sites, search for related ads in local newspapers, attend a couple of open houses and negotiate the price. But the fact is there is much more than that involved in a home purchase.

Buying a home isn’t just exhausting, but can be extremely time-consuming as well. That’s exactly why there are so many real estate agents in the industry today. Property owners that choose to manage this process themselves in an attempt to save some dollars, often find they have very little time on their hands to focus on their professional and personal lives.

If you end up spending all of your time just attempting to look for the perfect property, it takes away from your work, family and leisure time; and all of these are worth a lot more than you think. Working with a credible real estate agent is the best way to take this burden off of your shoulders. They have the knowledge and time required to get this job done efficiently and quickly. The amount of trouble and time they can save you can prove to be invaluable.

4. Effective sale negotiations

Knowing your financial & personal circumstances and keeping these confidential is crucial to the home negotiation process. If listing agents know exactly how much you have liked a particular house, and how keen you are in closing the deal etc., that can work to your disadvantage, and the seller may up increasing their asking price or reject your offer altogether.

But a buyer’s agent will keep all this information confidential and will negotiate the best terms and price on your behalf. The simple fact is that a seller’s agent typically works for the seller and prioritizes their benefit. But a buyer’s agent works for the buyer and not the seller and he will prioritize your goals, finances, and interest over selling a home.

Working with a credible and well-established real estate agent will help ensure you get the home of your dreams with the least amount of trouble at a price that fits into your budget. Contact Scot today!

If you are a first-time home buyer, the journey that lies ahead can be quite exciting. Before long, you will also

realize that almost every one that learns you are on this journey will have some advice to offer. While this advice may be well-intentioned, it can be quite difficult to sift through it and determine what works best for you. Here are some tips that can help you make the right choice:

Look for a trusted mortgage banker

Your ability to buy any property, your understanding of the purchase and loan processes, as well as your satisfaction with this experience in the short & long term will be influenced significantly by your mortgage banker. Even before you begin looking for a new house, you need to have a very clear idea of what you can afford. That’s where a mortgage banker comes in. You will have to provide this professional a lot of personal information. He/she will make recommendations on loans that will be best-suited for your personal and financial circumstances. This is exactly why you need to look for a mortgage banker you can trust completely.

Look for an experienced real estate agent

Sometimes prospective homeowners are tempted to work with someone they know personally and who has a real estate license. But, what matters is that you find a real estate agent who is experienced and knowledgeable enough to cater to your specific requirements.

It’s a good idea to get referrals from friends that have recently purchased a home. Make it a point to meet with and interview a few real estate agents before finalizing who to hire. During the first meetings, you need to ensure that this person is attentive and proactive in their approach. They should ask relevant questions regarding your requirements and focus on your answers.

Check out whether they have helped clients successfully purchase a property in the target price range and neighbourhood you are interested in and whether their preferred communication method suits your needs. It’s also a good idea to look for a buyer’s agent, rather than one that performs a dual role and represents the seller as well. The latter can cause a conflict of interests.

Be well-versed with the industry jargon

Just like any other industry, the mortgage lending and real estate landscapes overflow with industry-specific jargon. If you are unsure about what a certain term means, make it a point to get it clarified, not just in conversation but in the written materials too.

Don’t be tardy

When you are in the midst of the home purchase process, you will often be required to answer calls, produce various documents and show up for last minute meetings. In most of these cases, even the smallest delays can mean that some other buyer seals the deal and gets the house. Failure to provide the requested documents can result in a delay in the final purchase by days or even weeks. This is why you should make your home purchase a top priority and ensure these requests are attended to promptly.

Be curious and eager to know more about the property

When it comes to purchasing a home, being shy is only a downside. Your home is likely one of the biggest investments you will make in your life and it’s important that you get clarifications for any questions that cross your mind. A home purchase isn’t something you take lightly, and you need to have a very good understanding of every little detail of the process and the technicalities involved. After all, that’s one of the best ways to cover your bases and ensure there are no ugly surprises waiting for you, once you get the keys.

Comb through all the fine print

Most mortgage and home purchase transactions involve heap loads of paperwork that also have reams of fine print. While all of it may appear to be very generic, having a good understanding of all the terms of your loan and offer is key to your short and long-term welfare. This is why it’s important that you go through these documents with a fine-toothed comb before signing on the dotted line. You also have the option to run these documents by a legal expert.

Ask questions before making any finance-related moves

A number of things can have an impact on your credit report and affect your ability to qualify for the loan you need. This is why you need to first consult with your mortgage banker before you close/open any bank accounts, pay off loans, make any large investments, purchase a car, apply for new credit cards, or even borrow/withdraw funds for your down payment.

Do some insurance shopping

You will need homeowners insurance in order to finalize your home purchase. As mentioned earlier, start early, get your doubts cleared and don’t forget to read the fine print. You need to be very clear about what is/isn’t covered by the insurance policy. Find out how the payments need to be made, when you need to make them and what they are. If your home is located in a flood-prone or storm-prone zone, you might need to buy an additional policy to cover losses related to these natural disasters.

Think out-of-the-box

It’s never a good idea to take a closeted approach to buying a house; get a little creative and you may find a house that’s far better than your expectations. For instance, you may want to consider looking for houses in a neighbourhood you hadn’t considered looking at earlier. Maybe a condo will suit your requirements and budget better than a single-family home.

In addition to all these things, you should have all your paperwork and eligibility in place. You need to be pre-qualified for a loan and also have the pre-approval letter from your mortgage lender. The one way to navigate these waters safely is to work with a good real estate agent who will show you the ropes and help ensure you get the house of your dreams.

Home renovations may be costly, but they are always worth the time and money. Anybody who is interested in upgrading their Nanaimo home should consider focusing on renovations that are energy efficient. Not only will these upgrades help the resale value of the house, they will also pay for themselves with the amount of money they shave off of power and gas bills over the long run.

New Doors and Windows Can Put a Dent in Power Bills

Old doors and windows have outdated designs and were not always constructed with the idea of saving energy. The evolution in window design has led to windows that can trap the heat from the sun during the winter to keep a room warm naturally with the added bonus of having better seals and more security. Old, wooden doors were originally built to contract and expand as the seasons changed, which left them weathered over time. Drafty doors can be a tremendous drain on the power bill in the coldest months of winter and this simple renovation will save money in the short and long run.

Keep Heat in and Cold out With Proper Insulation

A home works like a well-oiled machine to save energy. Proper doors and windows with a great heating system will do nothing if the warmth keeps escaping due to poor insulation. Over time, older insulation will lose its ability to properly control the home’s temperature and a complete insulation upgrade to newer material will not only pay for itself, but it will fill in areas that may have been passed over the first time. Many older homes have no insulation in the attic, allowing heat to escape very easily. A properly insulated house also has the benefit of removing some strain from heating systems and air conditioners, leading to the possibility of smaller models.

Lower Energy Bills with Efficient Appliances

One of the easiest ways to make a home more energy efficient, cost-effective and more attractive to any potential buyers down the line is by investing in new appliances. Any appliance that is over ten years old is probably a huge drain on energy and creates significantly more waste than newer models designed to save energy and money. Washers, dryers, refrigerators, washing machines, water heaters and air conditioners that are certified by either EnerGuide or Energy Star will lower gas and power bills by a considerable amount, one that makes the investment worthwhile. This has the added benefit of making the home more attractive and raises the value when trying to sell, as any buyer will want top of the line appliances in their new home.

For an idea of where to start, EnerGuide performs home evaluations for Canadians that are endorsed by the government. They will give the home a complete inspection and provide the owner with a comprehensive guide on which areas can be improved and how much they can save with those improvements. If you would simply like some more information on how your home would compare on the market if it was energy efficient, feel free to reach out to us.