Advantages of Using a Realtor For New Homes and Condos – Episode #179

Many buyers don’t know the advantages of using a Realtor to buy a newly built home.  They go direct.  The Builders Salespeople are working primarily for the Builder…NOT the Buyer and therefore their goal is to obtain the highest price possible.

Many Buyers think it will cost them more money to use their own Realtor because the builder has to pay them the commission.  That is FALSE.  Most Builders recognize that Realtors have relationships with interested buyers and are happy to pay them a commission.  There is no additional cost to the buyer.  (And NO the Buyer will not receive a discount if they go in on their own because the Builder does not have to pay out commission)

Real Estate Sales People bring knowledge and expertise to their client when buying a new home or condo, in:

Layout and Location advice – builders will try and sell you the less desirable locations to get them out of the way.  Realtors will help you see all options.

Advice on the Values of Upgrades – Builders make most of their profits on upgrades.  Realtors will help you understand which upgrades will give you the best return on investment.

Advice on Resale Value in a particular area – Realtors can help you understand more about an area’s social and economic status, whether an area will retain its value or not due to certain area factors.

Advice on any Hidden Charges – Realtors will help advise on putting caps on any extra charges.

Realtors assist with the Pre-Delivery Inspection (PDI) – this is very important!

Title Insurance Saved Me $30,000 – Episode #178

Before this experience I never thought I would need to utilize Title Insurance.

This was a huge learning experience for me and I am sharing it so that you can learn from it and not have to experience this with your transactions.  WELL WORTH IT!!!

Title Insurance saved me $30,000 for something that I believe should have been caught easily 7 years ago by my Lawyer and Realtor that represented me back then during this transaction.

There are some valuable lessons to be learned here.  If you want to know more about the story then contact me.

Fire Next Door – Episode #146

You submit an offer on a house you love and the offer gets accepted!!!

You do your home inspection and everything passes with flying colours. Now you just wait for the closing date to arrive. But in the meantime, you want to have a visit to the property to take some measurements and perhaps to show your friends and family the beautiful new house you just purchased.

You arrive at the house and realize the house next door that is attached to yours has caught fire! Now what? You haven’t even taken ownership yet. Who is responsible? What if there is obvious damage? Even worse…what if there is hidden damage? Do I still need to buy it or can I walk away?

True story…Watch the video and see what happen. If you have further questions about the details feel free to contact me…I’d be happy to share.

Home Inspector Gets Sued – Episode #113

For most of you who have gone through a typical home inspection, the inspector will have you read and sign a report before they even begin the inspection. This is to help you understand what the inspection will deal with and what it will not deal with. There is also a standard limited liability clause which states that if the inspector made a mistake, the most the buyer could expect would be the cost of the report. This clause is common in most home inspection reports, mostly due to the fact that the inspector can’t look behind walls or under floors. Therefore, it is really tough to hold the home inspector liable for anything missed.

Interestingly, a recent court ruling found a home inspector liable for the cost of removing mould from a house. Watch the video to hear the story.