Is it safe to buy a home privately?
The Real Estate Industry has done a pretty good job of scaring people into thinking it is dangerous to buy a home privately. Their latest ad campaign goes as far as showing police storming a home in the middle of the night and waking up the new owners at gunpoint. The story is that because the home owners didn’t use an agent, they didn’t realize that the former owners were members of the drug cartel.
But in reality, buying a home privately is no more risky than buying a home using an agent. In fact, most of the times that you hear about problems with a real estate purchase, or real estate fraud, real estate agents were involved.
For some reason, the Real Estate Industry does not want sellers and buyers to meet. But meeting the seller can often give you a good idea of how well the home has been cared for, and when you buy privately, you do get to meet the seller. The seller can provide information about their home that a third party agent might not have.
If you have concerns about the condition of the home, you can hire a home inspector to make sure there aren’t any issues you aren’t aware of. In fact a home inspection is often a condition of sale.
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, and it is the Lawyer who will make sure there aren’t any unseen legal issues with the purchase of the home.
How do I know how much to offer for a 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 on our website, or on realtor.ca.
Any tips for browsing for listings with saskhouses.com?
Click on the picture below for a video with tips from Susanne!