BuyingBuyingBuyingBuyingBuying May 3, 2023

Choosing the Best Home Inspector

One of the most important steps in buying a home is a quality home inspection. And the key to getting a good one is finding a good home inspector in your area. However, a quick Google search could yield hundreds of results, all claiming to be “the best”—so how do you weed through them? Do you go with the first result? Surely they must be popular, right? Or do you choose the home inspector listed at the best price? Affordability isn’t always a bad thing…

There are many ways to filter through the seemingly endless list of local home inspectors. But, as experienced Saskatoon REALTORS®, trust us when we say we’ve seen our fair share. Based on our years of home inspections, some qualities we’ve learned are more important than others when it comes to a good home inspector. And when it comes to choosing the right home inspector for your real estate transaction, here’s what we recommend looking for:

 

Communication, Communication, Communication

While the name of the game in finding the right home is location, location, location, when it comes to a home inspector, it is all about communication, communication, communication. And, yes, it is worth the repetition.

A quality home inspector needs to be able to foster and encourage open communication to ensure you understand everything when it comes to your prospective home. They are there to educate and inform you about both the good and bad while also providing context and solutions along the way. This helps you to set realistic expectations for what you are getting into. It should also mitigate any unnecessary stress. Remember: everything can be fixed. It all depends on how much work you are willing to put in.

It is essential that you feel comfortable asking as many questions as you need to get the clearest picture before making any decisions when buying a home. You should never feel confused or left out of the conversation. A home inspection is a decision-maker in the homebuying process, and as the home buyer, you should be left feeling informed to make that decision confidently.

 

Knowledge

While it’s not essential to have worked in home construction before becoming a home inspector, it is essential to have a strong understanding of the home building process. Understanding codes, standards, and best practices are critical to a good home inspection since they indicate not just when things aren’t up to par now, but also how they’ll continue to look in the years to come. It also helps to inform why things are the way they are and what solutions can be implemented.

 

Attention to Detail

While the little things can be easy for many of us to overlook in the homebuying process, they are the exact things a home inspector should be looking for. Cracks, leaks, squeaks, drafts—these may all go unnoticed in a quick walkthrough. In a detailed home inspection, though, the time should be taken to look at every little thing that could make a big impact in your home later on. 

 

Buying a home is one of the most important—and most expensive—decisions you will ever make. Ensure you are doing everything you can to make the best and most informed decision possible with the help of a trustworthy and experienced home inspector. Still not sure where to start? Your local real estate professional should have a few recommendations of preferred partners they trust!

BuyingSelling October 14, 2022

5 Ways to Write a Winning Offer

The real estate market currently has more sellers than buyers, however, homes are still receiving multiple offers.

 

Here is a quick guide to help you write a winning offer.

 

Demonstrate Solid Financing

 

Seller’s favour offers that have a higher odds of closing. The truth is, no one gets paid if the home sale falls through.

 

The most solid financial offer is an all-cash offer, but the chance for this kind of offer is realistically low. 

 

The second most ideal offer is to have the financing in place and get pre-approved for a mortgage before the house-hunting process begins. A pre-approval letter shows the sellers that you are able to and are committed to purchasing a home.

 

Another thing to consider is the reputation of your lender, whether it be a private lender or a financial institution. Sellers won’t consider your lender’s reputation, but realtors often do. In general, some lenders are a lot more efficient than others. If you are finding it difficult to choose a lender, your Realtor can help you choose the best one for ease of business.

 

Put Down a Sizeable Deposit

 

A sizable deposit can also increase your chances of standing out as a serious buyer. A deposit is different from a down payment, so make sure you don’t get the two confused.

 

The brokerage or lawyer holds a deposit in trust until the purchase goes through. Once the purchase goes through, the deposit will is applied to the down payment and closing costs. Putting down a larger deposit is risky because you can partially or fully lose the deposit if the sale falls through. Check your contract terms.

 

Deposits can vary in amount, but offering an above-average deposit can show sellers you are serious about the property.

 

Ask for Few or No Conditions

 

Conditions are set in place by the buyer, a series of clauses that the buyer and seller must complete, or they can back out. These conditions appear in the purchase agreement and are legally binding once agreed upon by both seller and buyer.

 

Two of the most common conditions are:

Financing: A financial condition is a financing window of time the buyer has to gather funding for the home purchase. If they can’t meet the financing requirements, they can withdraw their offer, and the seller can move on to other buyers.

Inspection: An inspection condition requires a home inspection to be completed before purchasing the home. Usually, they are meant to discover pre-existing issues with the home, such as structural, electrical, plumbing, etc. Sellers can choose to fix the problems before the buyers move in, or sometimes re-negotiation of the final purchase price can occur, depending on the financial cost and work to be completed. If an agreement is not met, the buyer can choose to withdraw from the contract.

 

The more conditions that need to be met for the contract to go through, the offer becomes less desirable and weaker. In a competitive market, oftentimes, buyers are encouraged to voluntarily waive certain conditions to have the request go through easier.

 

Fewer conditions mean that there is less “red tape” to go through to complete the transaction, but missing things like a home inspection comes with a risk. Perhaps the home has many hidden repairs that will come out of the new buyer’s pocket, as they were not caught beforehand. 

 

Offer a Flexible Closing Date

 

When an owner is selling their home, money isn’t everything. Sometimes having a flexible closing/moving date is appealing because it can create the lead time needed to move into their next home. 

 

A flexible timeline can provide an excellent advantage for first-time buyers. If you are currently renting and can extend your month-to-month lease, this would be ideal for offering more flexibility on the closing date.

 

Doing so might edge out the competition or have no impact at all. Confer with your Realtor to see if this is an impactful move.

 

Work With a Skilled REALTOR®

 

In this competitive real estate market, the most significant advantage you have is to hire a knowledgeable realtor. They will have the skills and know-how to guide you through home buying/selling.

 

Realtors write up offers daily and will know what works well and what doesn’t. 

 

Once your offer is accepted, the Realtor will also be the liaison between you and the seller/buyer. They can write up the paperwork and lead fair negotiations. They should have your best interests in mind and the knowledge to make your home-buying journey lovely.

 

A competitive offer in today’s market doesn’t necessarily mean the highest bid or the one with no conditions. These tips should help you sweeten the deal and hopefully get you in the house you want.

Now that you have all the information to write a winning offer, try it yourself or with the help of a trusted local REALTOR.