Buying a home without a North Vancouver real estate agent? 3 things you must know that could potentially save you thousands and protect your investment
Most Buyers are quite happy looking up North Van homes online, making a list of the ones that are of interest and head out to the weekend opens on their own. As much as I hate to admit it, some people look at REALTORS similar to the pushy salespeople in the mall trying to stop you to sample their products, or that pushy car salesman at the auto dealership. You want to be left alone, to look at your own leisure and I get it. When I purchased my first house I was the same way. When I find something I like, I’ll simply write an offer with the listing agent or find an agent last minute, no need for an agent to help me yet, right? That’s where you could be making a BIG mistake and I’m here to make sure your experience with a real estate agent doesn’t have to feel like that…
ONE – Knowing What To Look For. Buying a condo, townhome, duplex or home is likely to be one of the biggest investments you make in your lifetime. Resale and maximum upside potential for your purchase should be a part of your decision and an experienced agent knows how to best protect your asset for you. As experienced agents, we do this day in and day out and have seen it all! We know what Buyers are looking for and can help ensure you invest in something that will both be desirable to you, but also have maximum potential to go up in price for you. We know what inspectors are finding and the risks of not knowing what to look for. With Strata Properties as just 1 example, the special assessments and levies that an owner can experience can be in the $10,000-100,000+ range, wouldn’t you want to avoid a situation like that? Windows, roofs, leaks, rodents, plumbing, electrical are all areas that you might overlook. What type of surrounding areas and amenities are most desirable to a Buyer? and in turn will help you for re-sale? These are all things an experienced agent can help guide you through.
TWO – Having An Agent Navigate You Through The Procees. When you view homes without an agent, the Listing Agent’s sole obligation is to the SELLER. They have a duty to work on behalf of the Seller’s best interest. Looking through properties for weeks or months and then hiring an agent at the last minute to write up an offer for you is a HUGE disservice to yourself and your investment. This does not always give you the appropriate time to do the proper DUE DILIGENCE, look through the sales history in the area, the history of the property, explore for oil tanks, proposed special levies, etc., 95% of the time a Buyer will have an agent for their Purchase, so why not find the right agent that you are comfortable with and let them use their expertise to help guide you through the process and best protect your investment. Touring properties with your agent can give you a huge advantage when it comes time to finding the right property and making an offer.
THREE – Gaining access to recommended tradespeople, mortgage lenders/brokers and inspectors. With the North Vancouver Real Estate market more often than not it can be quite a competitive environment. Having access to great mortgage lenders and brokers can give you access to great rates and pre-approved rates. Having access to a great mortgage specialist and a pre-approval will give you a great leg up when it comes to writing an offer. Having access to great tradespeople when the time comes to do renovations or repairs will also save a lot of stress and headaches. If you’re planning to do a renovation, wouldn’t it be nice to get a quote by a reputable tradesperson prior to making an offer? Finally, having a good inspector looking out for your best interest and steering you away from a nightmare situation can be very beneficial. As realtors we can help give you access to all these things to better position you for success with your purchase.
*Bonus: As a courtesy to my clients that buy or sell with me, I will cover your moving costs for free! I have partnered with a great local moving company that is bonded and insured and has some very reputable clients such as Staples and the Vancouver City Orchestra. As long as the move(to and from) is within 100 km total traveling distance, you’re all set and I’ll cover your moving for free!
In addition, having a REALTOR can help assist with the Buying process in following ways:
- Provide you with comparable sales and listings to determine what your offer would be.
- You have a licensed professional fighting to get the best deal possible for you.
- Predefine your new home search criteria and you will be emailed the minute new listings come on the market. Never miss a new listing again! Extremely important when it’s a multiple offer environment, as homes can sell within day/s of being listed.
- Requesting an inspection on the home as one of the subjects in the contract and suggesting reputable inspectors you can rely on.
- Requesting a Title Search of the property.
- Request a oil tank scan of the property – a home with an oil tank in the ground can cost $10,000-$100,000+ to be removed and rectify soil contamination.
- Provide you with preferred tradespeople to help eliminate of trying to find them on your own.
- Read through the Seller’s property disclosure statement and make you aware of any concerning items.
- When purchasing a condo or townhome – looking through the strata meeting minutes, depreciation report, AGM’s, Form B, looking for upcoming special levies or assessments.
- Suggest reputable lawyers and notaries that will assist you when it comes to the closing of your purchase and transfer of title.
For more information, feel free to call 604-785-5188 or email jimpilkington@shaw.ca Jim Pilkington of RE/MAX Crest Realty in North Vancouver to discuss your home buying needs.
