Reading through a real estate ad and see the phrase “Back-up Offers Only”, don’t worry if you’re left wondering what that means. Let Home Team Ottawa explain. Back-Up offers Only is a REALTORS® polite way […]
The Listing Agent, that’s the name on the sign has listed the property for 5 or 6% commission. Traditionally they are offering 2.5% or 3% to a buyer’s agent so if you buy the home directly from the Listing Agent, they are getting a win fall, a double end as we call it in the business. So surely they can knock a percent or two off the price, from that extra commission they are earning to give you a deal. Right!
You’ve found it, the Perfect Home! There is just one problem, you’re home needs to be sold in order to buy this one…
Welcome to the world of First Refusals. This Field Guide will help you navigate the real estate market when you need to sell your home in order to buy the one you want.
Six things to know about real estate deposits When you make an offer on a house you have to put down a deposit. Here are some things to keep in […]
Keith Bray talks Military Moves to Ottawa vs Traditional Home Buying In this Video Keith shares his insight from helping 32 families move this year on how Military Moves and […]
http://www.HomeTeamOttawa.com buyer specialist Sean Tassé (Your Friend in Real Estate) explains “What happens when you find the house you want to buy?” Ask your Ottawa real estate questions at http://www.OttawaRealEstateQuestions.ca […]
The first thing you need to know is the Government of Canada has a Home Buyers Plan (HBP) for the first time home buyers, which allows you to withdraw up to $25,000 from your RRSP’s to buy your first home. So “Save” your first $25,000 by making RRSP contributions up to your max. As always there are some limitations so read up on the plan or discuss it with your mortgage broker.
Your initial offer has next to no chance of getting accepted (unless it’s well above asking price or a rare situation), there is almost always a negotiation. The first price you offer needs to be attractive enough to the seller to keep them interested with out rejecting you outright.
Why is it so important to know how much you can afford to spend on a home?
First, you don’t want to buy a property and then find out, only after you’ve moved in, that you can’t financially maintain it. That would mean having to resell it under stressful conditions.
Alright, so you’ve got bad credit, it happens to the best of us. The challenge is now your credit rating stands between you and home ownership, so what are you gonna do?