Buying A Home: What You Should Know
Before Writing an Offer.
Buying a home is one of the most important decisions in your life. It’s only fitting that you ensure that the investment will spell a lot of advantages for you. As such, knowing all that you can prior to submitting an offer is a must.
An offer is a formal application to purchase a property. A firm offer is one that comes with no conditions. A conditional offer includes certain subjects and/or terms, which are submitted by the party that are asking for set of conditions. Aside from these, there are other inclusions that your offer must include. Some of these are:
- Purchase Price. Your purchase price is the amount that you’re willing to pay for the property that you intend to buy. A good rule of thumb for determining this is to check current market conditions.
- Deposit. The deposit is your initial outlay, as proof of your interest in and commitment to purchasing the property. It is applied once your offer has been accepted by the seller.
- Possession and Closing Dates. These dates set the timeframe for the transfer of the title and legal rights to the property from the seller to the buyer, as well as the conclusion of the financial transactions.
Home Inspection: Why You Need One
Once your offer has been accepted, it is recommended that you conduct a home inspection for the property in question. This ensures that:
- You are not buying a house that has a lot of structural defects and other issues.
- You can accordingly prepare for the various home elements you’ll eventually live with, such as heating and cooling, as well as electrical and plumbing systems.
Get The Right Guidance
Metro Vancouver Properties has associates who will guide you through the entire process of purchasing a home – from drafting the offer to finding a certified professional for your home inspection.