Five dumbest mistakes Buyers make when purchasing a home in Grey Bruce
#1: Agency: Find out early in the process, who your Realtor is working for. Your realtor has to disclose to you if he is representing your interests, the seller's, or both. Not knowing this can cost you thousands of dollars and jeopardize the negotiations of your offer.
#2: Property disclosure statements: These are available to you the purchaser. This disclosure asks the seller 80 questions pertaining to their property. These questions include water problems, electrical, plumbing and structural problems that may be present. Failure to provide this form by a seller may make you want to seek a Full Home Inspection Report. What you are trying to do is avoid hidden problems or surprises after you take possession of the property.
#3: Environmental Concerns: Today's purchaser should be concerned that there are no environmental problems with the property. This could include underground storage tanks from years gone by, buried asphalt, tires or existing dump sites in the area. Protect yourself not only for your health but for the re-sale value on your property.
#4: Well and septic or water agreements: Having the proper clauses put in your offer when purchasing village or country properties pertaining to water and septic can save you a lot of stress and a lot of money. On water, clauses are available to protect you that there is not only adequate supply but that it is drinkable. Clauses are also available for septic to make sure it is working properly, installed to county health standards and wholly within the limits of the property boundaries. Not knowing could be disaster!
#5: Financing: Choosing a Realtor that is knowledgeable in different financing packages and incentives that are available from Lenders can literally save you thousands of dollars. First of all banks want your business and they are offering major discounts to get it. Make sure the realtor you choose knows of these different plans and if he or she is willing to negotiate the best rate possible for you.
