August 2013

There are 4 blog entries for August 2013.

If the home you're about to purchase here in Vancouver comes with a Seller's Property Condition Report, read it carefully.   This report is the seller's opportunity to make you aware of past or current problems that you might not have noticed – and that could come back to haunt you later.   Why would a seller disclose a problem, especially if they think it's been solved? Some won't, but those who do have a very good reason – so that you'll go into the purchase fully aware and thus unable to come back to them later saying that they withheld information about the condition of the house.   Does the Property Condition Report take the place of a home inspection? No – the wise course of action is to hire a competent home inspector – and…
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You've heard before that real estate is local. National news concerning the real estate market may or may not reflect what's going on here in Vancouver BC.   But what you may not have heard is that the market can be different from one part of town to another, and even can even be different in two very similar subdivisions. That's because supply and demand affect price – and some neighborhoods are simply more desirable to a greater number of home buyers.   Supply and demand changes between price categories. It also changes depending upon factors such as how many vacant homes are in a neighborhood and how the residents care for their exterior spaces. Large percentages of bank-owned homes almost always deflate prices.   Another factor that…
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If you receive multiple offers on your Vancouver home, you'll have to choose which to accept and which to reject. If none of the offers exactly suits you, you'll need to choose which offer to counter.   Is the highest offer always the best? Not necessarily.   Before focusing on the offered price, you and your agent need to go over the entire offer and compare all of the terms.   Some high offers may ask you to contribute toward the buyer's closing costs. Some might ask you for an allowance for new carpet, paint, or repairs. Some might have contingencies.   In addition, some may be cash offers and some may be subject to financing.   You and your agent need to sit down together and list the details of each offer. You may find…
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The world holds two kinds of home "Flippers" – the honest and the dishonest. Unfortunately, you don't always know which is which, so proceed with caution.   Honest flippers are buying and renovating homes that need cosmetic upgrades and structural or systems repairs that can actually be accomplished. For instance, the house might need a new furnace, a new roof, or a new sub-floor in a kitchen or bath.     They're making those repairs and upgrades before putting the house back on the market.   Dishonest flippers buy homes that need much more – and instead of repairing the problems, they're covering them up. Those problems include rotting wood, termite infestations, and mold.   How can you protect yourself? Two ways:   First, talk it…
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