TIPS


TIPS

First-time house hunters

Enlist the help of an experienced homeowner to help you focus your priorities.

Consider signing a “buyer’s agent” to represent your interests as the buyer. This agent will point out drawbacks as well as strengths of a house, but you’ll also be required to pay the commission even if you find a house for sale by owner.

Interview several real estate brokers and get recommendations from family, friends and acquaintances familiar with homeownership.

Try to understand the seller’s negotiating stance. Brokers say those who have owned their homes for more than 10 years are more willing to bargain, because they likely have substantial equity. Not so for those who bought in the recently ended boom and are worried about recouping the purchase price.

Expect to pay for expenses such as the home inspection and title search, which typically are not included in mortgage costs.

Get recommendations from your agent and other homeowners for reputable lenders that have been in the market they’re serving for a long time, said Pat Tasker, a Shorewest agent.

Get pre-qualified for a mortgage and make sure the terms are still good before you draw up a contract. The one thing that will make a seller take you seriously, said Tasker, is the backing of a reputable lender.

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