Traps to avoid

Buying a home is an important investment in your life. For many buyers, this process could be more expensive than necessary by:

• Paying more for the desired house.
• Losing the house of your dreams in the hands of another buyer.
• Buying a house that does not fit your needs.

This section presents some pitfalls to avoid to optimize your purchase:

Buy blind

What price should you offer in the counter-offer? The price requested by the owner of the apartment is too high? What is the current market price for this type of housing? Without the knowledge of the market, you could be wrong and pay more or lose the house of your dreams.

Buy the wrong house

What exactly are you looking for in a house? A simple question that involves a complex answer. More than one buyer was wrong because of the excitement and thrill of buying a new home, only to discover later that it does not meet their needs. For example, not having planned the long trip to work or making repairs larger than expected … Take the time to establish the needs in writing and use this list to compare each of the houses visited.

Legal issues

Make sure, from the beginning of the negotiations, to obtain indisputable proof that the house is in the name of the seller. It is a very uncomfortable situation to discover ,after so much time and , that the house in question was, for example, seized by justice.

Non-conforming designation

At the time of purchase, make sure the home’s legal compliance with the features, for example the square meters of the house. In the event that these data do not match, for example with the closing of a terrace, with an added pool, etc., the bank will not take into account these differences in the valuation of the mortgage.

Repairs not revealed

Do not expect an householder to list everything that needs to be repaired or verified. You can do an inspection of the house or think about hiring an architect to examine the house.

No pre-qualification

A mortgage pre-qualification is free, fast and lets you know the maximum amount of your bank mortgage. Clic to Access  to your free mortgage pre-qualification study.

Rush the signature

Study all the documents before the day of the notarial signature. Make sure all documents are complete and that documents are not missing. If this is not the case, the financing or purchase could be compromised.