If you're buying a condo or home, especially for the first time, there's a lot you're going to have to do in order to prepare yourself for the process. You've got to figure out how much you can afford to spend on a house or condo, use a mortgage calculator Toronto tool to see your mortgage options, decide what features your home must have and which ones you can live without, and scout potential areas to see what the neighbourhoods have to offer, just to name a few. That's a lot that you have to do even before you make an offer on a home.
If this is the first time you are buying a house and therefore the first time making an offer on a home, it's in your best interests to listen to the advice of your real estate agent. Buying a home for the first time is an experience that is completely new to you. Which is why you should make sure to pay close attention to what your real estate agent advises you to do. In fact, some colleges teach agents and would-be agents how to be forthright with all information about contracts, procedure, fees, properties and more. Most clients rely heavily on the advice of their agent, so the agent needs to clarify as much as possible.
They're the ones with the experience. They're the ones who have spent countless years helping other satisfied clients buying new homes. The experience they bring to the table is extremely valuable. They know what the current market conditions are like and what type of an offer will be accepted and what type of an offer will be declined. Their job is to research the current market conditions in order to see what homes and condos are currently going for so you don't have to worry about over paying or undervaluing your home.
Your real estate agent will help you come up with a pricing strategy to determine what your first offer on a property should be. Making your first offer will go a lot smoother with your real estate agent guiding you along the way - as long as you listen to what they have to say.
You shouldn't get too worked up if your first offer ends up being rejected. This happens a lot and any good real estate agent will prepare you for such an event. They will also have a back-up strategy in place for the possibility of your offer being rejected. Just listen to what they have to say and you should find yourself being the proud owner of a new home soon enough. Good luck!
We like the advice given by Moneysense on tips for how to make an offer. Go ahead and give it a read through, you may learn something new. We also would like to take a moment to thank one of our real estate sponsors, our friends at Centraltoronto.net for their helpful advice and resources.