Buying a home is safe and easy with saskhouses.com! We have helped hundreds of buyers find their dream home, and we can help you too. We can connect you with mortgage brokers, home inspectors, lawyers, and home insurance companies to ensure that buying your home goes off without a hitch!
For some reason, the Real Estate Industry does not want sellers and buyers to meet. In our experience, meeting the seller can be a huge advantage. You get to ask them your questions directly about the home, it’s history, and you will get a good idea of how they cared for the home. It can also make negotiations easier, as you will both get a better understanding about what terms and conditions are most important to each other.
We have all lived in homes all of our lives, and you probably know more than you think. If you have concerns, there are professionals who can help you.
Before the sale finalizes, it is the industry norm to hire a professional home inspector who will come and do a complete evaluation of the home’s condition, and alert you of any hidden surprises.
And just like when you buy using an Agent, the sale will need to be finalized by a Lawyer. It is the Lawyer who makes sure the Seller gets the money, and the Buyer gets the Title to the Property. The Lawyer will make sure there aren’t any unseen legal issues with the purchase of the home.
There is no exact science to determining how much a home is worth. If you are interested in a home, we encourage you to compare the asking price of that home with the asking price of similar homes that are for sale in the neighbourhood, or community. Do your research. All the information you might need is readily available on the internet. Once you’ve done your research, you should be able to pretty confident in determining what an appropriate asking price should be for a property you are interested in.
If you are still unsure, you can discuss getting an appraisal done on the property with the seller, which will help to ensure that you reach a fair agreement for both parties!
It is a good idea to get a pre-approval before you start home shopping, so you aren’t spending your time looking at homes that you can’t afford. We work with a great local mortgage broker who is able to walk you through the entire process, and give you an idea of how much you can safely afford. Check out the following links for more information:
No problem! The majority of our sellers offer a commission to real estate agents that bring them a buyer. Your agent can contact the seller, set up a time for viewing, and continue to help you through the process as they normally would.
In a typical home transaction with an agent, the seller will pay thousands of dollars in commission. Why does this affect you?
Often times, a Seller will have a number in mind of what they need out of their home when they’re selling it. When they factor Real Estate Agent commissions in, their sale price will have to rise in order to cover those commissions. So when they choose to sell privately, both parties can come out ahead financially. The seller will save in commissions paid, and the buyer may be able to purchase the house for less than they otherwise would be able to.
When you buy a home through Agents, the buyer and seller typically never actually meet. Any questions are relayed through both Agents, and this can inhibit questions, and slow the process down. With a private sale, you’ll get to meet the seller directly, and build a relationship with them. You’ll be able to ask them questions directly about the house, its history, the neighbourhood, etc. This will help you know what you’re getting into, and if it is the right fit for you!
Your Step-by-Step Guide
Buying a home privately is not a complicated process! Nowadays, most buyers shop for their next home themselves, and then only involve a real estate agent when they want to view a home, and possibly make an offer.
When you buy privately, you can cut out the middle person, and take control of the process yourself.
Here are the steps you need to follow if you are planning to buy a home privately.
1. Find out how Much House you can Afford
It’s always a good idea to know how much money you will be able to spend when you purchase your first, or next home. The easiest way to do that is to meet with your bank, or a mortgage broker. Find out how much money you would qualify for before you start the house hunting process, so you can focus on places within your budget!
If you need a Mortgage Broker, we can help! Just reach out to us.
2. Look for Homes that are for Sale Privately
Once you know how much you’ll be able to afford, start shopping for homes that are for sale privately, on websites like this one. Shopping for houses online has never been easier and more convenient than it is now. You’ll be surprised by how many people are selling their homes privately so that they can be in control of the selling process, and save their hard-earned equity.
3. Contact the Seller
When you find a home you are interested in, contact the seller and arrange to view the property in person.
4. Do your Research
Make sure you’ve done your research to ensure that the property you are considering is competitively priced – there is tons of information available at your fingertips. Compare the property you are considering with other similar properties that for for sale in the same neighbourhood.
5. Make an Offer
Once you’ve done your research, and you’ve found a house you want to purchase, make an offer! An offer can be made verbally, or in writing. Once you have agreed on a price, it is time to complete an Offer to Purchase form. This will put your offer, and the conditions/terms of sale in writing.
The Seller should have our Offer to Purchase form, if you need it sent to you just send us an email!
6. Take it to a Lawyer
Once you’ve agreed on a price and conditions with the seller, you need to put the offer in writing, and take it to a lawyer. The lawyers will take care of the legal details, to make sure you get the title to your new home, and the seller gets the money you agreed to pay for it.
7. Get a Home Inspection
One of the conditions of your offer should be that the offer is subject to a professional home inspection. This should be done whether you are buying privately, or with the help of an agent, to make sure that there aren’t any surprises with the property, and that you know exactly what it is that your buying.
If you need a Home Inspector, reach out to us! We can connect you with one.
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