Kelowna Real Estate Agent
Looking for a Kelowna Realtor or Real Estate agent and trying to find one that you feel comfortable is important and worth taking the time to research. This is one of the most important decisions of your life and having someone on your team looking out for your best interests can save you money and a lot of stress.
What Can You Expect A Real Estate Agent To Do?
Your Realtor should be able to answer all of your questions or be able to refer you to the correct expert for the answer.
Some of the things a Realtor does for his client include:
I will recommend 3 Mortgage specialists for you to speak with. This is important because the mortgage broker has to work closely with you and your Realtor to make sure you are focusing on the correct price range. He should also be able to answer all questions you have on financing and the different lenders he has available for you and the ones that best suit your needs. The Mortgage broker should also be able to explain which term of mortgage best suits your situation and no all mortgages are not created equal.
Prepare a List Of Homes or Condos For You To View
After taking the time to speak with you about your goals, needs and wants combined with a price range the lender has preapproved you for the Realtor can search and find suitable homes or condos for you.
Goals can include
How long do you plan living in the new property?
Are you going To Sell it then or rent it out?
Are you planning on buying more properties in the future?
Needs are must have items and can include:
Number of bedrooms
Location to schools or work
Pets - if you are looking at Condos or Town homes check the bylaws. Some complexes have a no pet restriction or a size restriction or can say Cats only no dogs.
Children - Some complexes have age restrictions check before you go view and fall in love with a condo that does not permit children or they may not be children friendly.
Parking- Do you have an oversized vehicle that needs to be in the garage.
Wants are nice to have but you would still buy if it had all your needs
South Facing yard
Laundry on top floor.
Your list is personal and important to share with your Realtor so he can find the places that most suit your budget and needs, It is worth taking the time to write down what is important to you and what is simply a wish list. This can help your Realtor find you the best deal on the market that suite you and your family
Your Realtor will book the appointments to show you possible homes, it is a good idea for your to take notes on the feature sheets of the homes you like and what you liked about the home. For the homes that you know you do not like fold the feature sheet and keep it separate from your sheets of interest. If you can manage to keep your top 3 homes in a separate folder it will make the decision easier for you to narrow down and make a decision.
Making a Decision
You have narrowed down your choices and are ready to make an offer. Your Realtor will write the offer for you. To come up with an offer price, your agent can supply you with comparable homes or condos on the market that have recently sold. Comparing these homes to the one you are considering purchasing will give you a good idea of what the market value is. Your Realtor has probably seen most of the homes in the neighborhood when they were on the market so can advise you on the condition and differences in the homes (This is a good reason to work with a local Realtor who knows the market).
Once you decide on a price to offer and dates you want to move in there are also conditions that you must have on your contract.
-Financing ( even is you have a preapproval, your lender still needs to approve the value of the home)
-Home Inspection- Using a qualified home inspector can save you time, money and frustration.
-Title search- have your lawyer review the title or the property and explain it to you, be aware of any easements or right away on the property.
– PDS or Property Disclosure Statement filled out by the owner of the home lets you know of any latent defects of the home that or not visible to the eye.
-If the property is in strata you will also need to request the Bylaws, Financial Statements, and all the minutes of the strata meetings and AGMs for the past 2 years.
These are just some of the conditions and often you will have a week to 10 days to fulfill them before removing your conditions.
If you have questions do not be shy to ask, this is where your Realtor can help you