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sutton canwest vista
242,755 Lake Bonavista DR, SE,Calgary,Alberta, T2J 0N3
Phone: 403-278-9208
Fax: 403-278-9020
bbraxma@telusplanet.net

Stop Paying Rent and Own Your own Home
Negotiating Tips

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If you have decided to buy a home, you first step should be to get pre-qualified by a lender. There are a few good reasons for this. Interest rates change. Usually once you get pre-qualified, lenders guarantee your interest rate for up to 90 days. If interest rates go down, you'll get the lower rate. If rates go up, you'll get the lower rate. Also by being pre-qualified, you know how much you can afford to spend on a home. That way you won't over-extend yourself.

Before you get pre-qualified call or e-mail. Perhaps I can help you with a cash back mortgage, or an interest rate below the posted rates. If you don't have enough money for a down payment perhaps I can introduce you to a deal with a vendor-take-back mortgage, rent-to-own, or zero down payment plan.

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BUYING A HOME

Whether you are looking for your first home, or you are a sophisticated investor, I have an ongoing search for distressed properties, foreclosures, and fixer-uppers. Once I determine the type of property you are looking for, I type your search criteria into my special house-hunting software and presto… my computer automatically tracks the marketplace for you; keeping you up-to-date on hot new listings the minute they come on the market. I even preview properties for you,weeding out the bad ones and also making sure you don't pay too much. And the beauty of working with a Buyer's Agent is it doesn't cost you a dime. My commission, payable only when I find you a great deal, is paid for by the seller. In addition, as a Buyer's Agent I don't have a conflict of interest with the seller. I negotiate strictly on your behalf, protecting your interests every step of the way, making sure you get the best deal possible.

If you would like me to track the market for you using my special home hunting software, simply call or fill out this form. This is a free service and obligates you to nothing. Remember I have access to any available property regardless of the real estate company listing it. I will send you all the available listings in your price range and area and then keep you updated on hot new listings the minute they come on the market.
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22 OF THE MOST COMMON BUYER MISTAKES

Some mistakes that you will want to avoid in the purchase of your next property.

  1. NOT GETTING PRE-APPROVED. The seller and its REALTOR® will be more comfortable accepting your offer if they know you have been pre-approved. It may also help you at the negotiating table with respect to price.
  2. NOT ASKING ENOUGH QUESTIONS. You are not supposed to know everything about or be an expert in home buying.
  3. NOT USING A QUALIFIED PROFESSIONAL. I have talked to many buyers who decided to buy a property for sale by owner and ended up paying more than its market value.
  4. FAILING TO HAVE A PLAN. Do you own? If so, do you need to sell before you buy. Are you renting? How much time is left on your lease? Write down locations you would consider, price range, number of bedrooms and bathrooms, style of home, age of home. Be very specific. It isn't too likely that you will find a home that offers everything you desire. But without a list it will be difficult to spot a home that meets most of your expectations.
  5. GIVE THE INFORMATION TO YOUR REALTOR. A good realtor will save you a lot of time. He can make sure you only see homes that match your criteria. You don't want to end up with a home that is too large or too small; a fixer-upper when you are not handy; home that's too far from work or too close to traffic; a home in the wrong price range.
  6. THINKING, "I CANNOT AFFORD A HOME." Lots of people say they can't afford a home. But, the fact is, with mortgage financing rates so low, the time has never been better to look at buying. Think about the tax advantages to owning a home. The thousands of dollars you pay in mortgage interest may be deductible. This tax deduction sometimes makes owning your own home cheaper than renting.
  7. FAILING TO PROPERLY SCREEN YOUR REALTOR. The quality of your experience is determined by your skill in choosing the right professional to represent you. Your home purchase could well be the most important financial transaction you have ever make. The right person representing you can make it a profitable and satisfying activity or a terrible experience. It's your money…never be afraid to ask questions.
  8. CHOOSING A MORTGAGE BASED ONLY ON INTEREST RATE. It is a myth that a fixed rate mortgage at today's interest rate is the best mortgage plan. Many different types of loans are available. You should meet with an expert who can explain the different types of mortgages and help you with a plan that is suited to your requirements and retirement plans.
  9. GOING TO YOUR BANK THINKING THAT YOU WILL GET THE BEST INTEREST RATE. Typically mortgage brokers offer better service and better mortgage interest rates than many commercial banks. Mortgage brokers have access to a pool of lenders and typically banks are limited to the mortgage divisions of the institution.
  10. FAILING TO OBTAIN A HOME INSPECTION FROM A QUALIFIED INSPECTOR. This is not the time for surprises. Unless you have a very sophisticated knowledge of construction, you may want to obtain the services of a qualified home inspector.
  11. NOT KNOWING YOUR RIGHTS AND OBLIGATIONS. Real estate law is complex. The contract for purchase or sale is legally binding. A poorly worded contract can cost the sale to fall apart or cost you thousands of dollars in repairs. You need to have a good realtor to educate you on local zoning, any defects on the title, etc. It is your realtor's job to know the laws governing real estate transactions. You deserve an agent who is not only knowledgeable on these laws but is willing to educate you throughout the process so you feel more comfortable.
  12. FAILING TO MAKE YOUR OWN INSPECTION. Don't rely on the seller to point out major defects in the property. Have a thorough look at it yourself. Make sure your purchase contract is written so that if there is a major defect in the property after a home inspection, that you have the option to cancel the contract and have your deposit returned, re-negotiate for a lower price to compensate for the cost of repairing the problem, or have the owner make the repairs before the sale completes.
  13. TRYING TO MAKE A SMART INVESTMENT. You need to buy based on what fits your family. Don't try and guess what will happen to the market.
  14. CHOOSING A BAD LOCATION. Location matters. Is it on a busy street, right beside a major mall?
  15. BAD FLOOR PLAN. Don't overlook a bad floor plan for gorgeous curb appeal. You will need to consider how the home will function for your family.
  16. NOT CHECKING BUILDER'S REPUTATION. On a new home, check to make sure it is built by a reputable builder.
  17. WAITING FOR A BETTER MARKET. Although market and interest rates may change, your situation may also change for the worse.
  18. NOT BUYING. If you can afford a home and you decide not to purchase, you will lose out on building home equity, tax deductions, and building equity through appreciation in value.
  19. NOT DOING YOUR HOMEWORK. With tons of information available on the internet, in books, local courses, etc, there is no excuse for entering the market unprepared.
  20. LOW-BALLING. Sometimes uneducated buyers tend to offer too little and ask for too many concessions. This could insult the seller and may alienate a seller who has taken a lot of time and effort to price the home right and prepare it for market. The buyer may end up paying more for a house by starting with a low-ball than he would if a more reasonable offer was presented in the beginning.
  21. PAYING TOO MUCH. Get a good realtor who will ensure this doesn't happen to you.
  22. DON'T BE PUSHED INTO ANY HOUSE. Your REALTOR® should show you every house in your neighbourhood of choice that meets your requirements.
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Free Article: Stop Paying Rent and Own Your Own Place: If you are like most renters you may feel trapped inside the walls of a house or apartment that does not feel like yours. Well maybe I can help you end that feeling. Simply fill in this form below and submit to receive this free report on six little known facts that can help you buy your first home. I will send it to you at absolutely no cost or obligation.

Free Article: Negotiating Tips: Negotiation is a complicated art form. Good negotiators are experienced negotiators. Successful negotiating usually involves concessions on both sides. Typically a deal will not go together if it isn't win-win. If the seller feels “hard-done-by” he’s unlikely to sign the purchase contract...Use the form below to request this article for free.

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Brian Braaksma ]
REALTOR®
sutton group canwest vista branch]
[ 242,755 Lake Bonavista DR, SE, Calgary, AB, T2J 0N3 ]
[ Phone: 403-278-9208] [Fax: 403-278-9020]
[ Email: bbraxma@telusplanet.net]

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