Due Diligence
Today home prices have reached a point where six, seven or eight hundred thousand dollar purchase prices are common. Even what was formerly called entry level homes, now have an average starting price of over $300,000. These prices are wonderful if you have owned your home over a long period of time but if you are purchasing today, it will represent a major financial decision that needs to be respected and handled in the most professional way to ensure you are protected.
Today's professional REALTOR should be handling you and your home sale or purchase, with the same level of research and protections that you would require if you invested that same amount of money in any other investment. This requires your REALTOR to research, investigate, draw offers, Conditionalize for protection and finally fulfill obligations to protect your interests.
No consumer today would simply call up a financial advisor or little known stock broker and hand over $600,000 to them to invest. No business would invest in a venture without completing a thorough and accurate review of the new venture before turning over a single cent. Your lawyer and accountant would pull their hair out if you excluded them from your decisions.
Considering the significant amount of money a home transaction involves, lets look at the increasingly challenging "Due Diligence" required of your REALTOR.
The list of items a REALTOR must review and be competent in handling, grows as quickly as home prices increase. Often many if not the majority of these items are overlooked, not contemplated or simply ignored, only to allow for a quicker and easier sale to take place. The problem is that this quick and unprofessional approach now can affect an investment of over one half a million dollars.
You are highly encouraged to work with a professional REALTOR who is willing to complete their "Due Diligence" in the protection of your life's biggest investment, that being your personal residence. Don't settle by buying a home in the same way it was done 10 years ago. Today's purchase requires a complete and thorough approach that respects your financial investment, yet still ensures your emotional attachment to a home is considered.
In the end you may love a home today but may regret finding mold in the attic the first time your child becomes ill for no apparent reason. You may love the back yard but if the pool or deck is not on the survey, you may be faced with years of expensive battling with the city. You may have found your dream home but if the price is 10% to high someone needs to warn you. You may be motivated to choose a community because it is close to a park but are you sure there are no other reasons why you should not have chosen that neighborhood in the first place.
Buying a home needs to be fun. Your emotions will run so high that often people are willing to forgo logic and make a decision that they will regret for years to come.
Make your experience the most fun possible and the most stress free, all the while minimizing the chance of making a mistake by hiring a professional REALTOR willing to complete their "Due Diligence" when handling your next real estate transaction.
To start using Ross Kay to find your next home, call 905-336-7300 or email him from the Contact Form
Today's professional REALTOR should be handling you and your home sale or purchase, with the same level of research and protections that you would require if you invested that same amount of money in any other investment. This requires your REALTOR to research, investigate, draw offers, Conditionalize for protection and finally fulfill obligations to protect your interests.
No consumer today would simply call up a financial advisor or little known stock broker and hand over $600,000 to them to invest. No business would invest in a venture without completing a thorough and accurate review of the new venture before turning over a single cent. Your lawyer and accountant would pull their hair out if you excluded them from your decisions.
Considering the significant amount of money a home transaction involves, lets look at the increasingly challenging "Due Diligence" required of your REALTOR.
- Privacy Ensured
- Personal Data Collection Prevention
- Home Valuation Accuracy
- Structural Status of Home
- Environmental Status of Home
- Zoning and By-law compliance of Home
- Deposit Consideration and Holding Provisions
- Governmental Compliance
- Mortgage Provisions
- Down Payment Accuracy
- Insurance Potential of Property
- Taxation Potential
- Community Safeguard Protection
- Remaining Mechanical lifetime of replaceable components
The list of items a REALTOR must review and be competent in handling, grows as quickly as home prices increase. Often many if not the majority of these items are overlooked, not contemplated or simply ignored, only to allow for a quicker and easier sale to take place. The problem is that this quick and unprofessional approach now can affect an investment of over one half a million dollars.
You are highly encouraged to work with a professional REALTOR who is willing to complete their "Due Diligence" in the protection of your life's biggest investment, that being your personal residence. Don't settle by buying a home in the same way it was done 10 years ago. Today's purchase requires a complete and thorough approach that respects your financial investment, yet still ensures your emotional attachment to a home is considered.
In the end you may love a home today but may regret finding mold in the attic the first time your child becomes ill for no apparent reason. You may love the back yard but if the pool or deck is not on the survey, you may be faced with years of expensive battling with the city. You may have found your dream home but if the price is 10% to high someone needs to warn you. You may be motivated to choose a community because it is close to a park but are you sure there are no other reasons why you should not have chosen that neighborhood in the first place.
Buying a home needs to be fun. Your emotions will run so high that often people are willing to forgo logic and make a decision that they will regret for years to come.
Make your experience the most fun possible and the most stress free, all the while minimizing the chance of making a mistake by hiring a professional REALTOR willing to complete their "Due Diligence" when handling your next real estate transaction.
To start using Ross Kay to find your next home, call 905-336-7300 or email him from the Contact Form
Ross Kay is a sales representative under contract with RE/MAX garden city realty Inc., Brokerage, Burlington.
RE/MAX Garden City Realty Inc., Brokerage, each RE/MAX office is independently owned & operated
2 Burlington RE/MAX Locations-3450 Dundas Street, Burlington, Ontario and 720 Guelph Line Burlington, Ontario
Re/Max and Remax are used in format sensitive context only. RE/MAX is a corporate trademark.
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