Found 3 blog entries tagged as buyers.

What is a Conditionally Sold property?

A property with this status means that someone is currently in the process of buying the home or listing. An offer has been written by a Buyer & usually after some negotiations, that offer has been accepted by the Seller. It is important to understand that the offer is conditional to either the Seller and/or Buyer satisfying certain conditions. In most cases, the Buyer makes their offer conditional to financing, inspections, etc.

Upon accepting an offer, the seller used to have the option to advertise their property as "Conditionally Sold" (Pending) or remain "Active" on MLS®; with no indication that they are currently pending a sale. Many found this strategy as deceptive, time consuming & confusing to many…

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What do buyers need to know?

We believe there’s a step when buying a home that is absolutely critical. In a market with high inventory it’s even more important. Unfortunately, most people totally miss this step we call Market Education. Market Education is about systematically getting out & viewing homes, not for the purpose of buying but rather to educate yourself on the market, establishing a baseline for what your price range affords you, & refining your criteria. This is a step that the vast majority of agents will skip thinking it’s a waste of their time, however experience has taught us, this simple investment of time up front comes with a number of benefits.

  1. Number one is confidence – By getting out and viewing homes in a no pressure…

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By Penelope Graham

The new year is upon us, and with it, a whole new real estate reality. Tougher federal mortgage regulations took full effect on Jan. 1, slashing affordability for new borrowers and contributing to slower selling conditions than the record-breaking activity experienced throughout 2017 in Canada’s largest markets.

Dubbed Guideline B-20, this latest parcel of policy changes is also anticipated to be the most impactful, as all new mortgage applicants must undergo a stress test regardless of their down payment size. Under the rules, a buyer paying more than 20 per cent down on their home purchase must prove they can carry their monthly payments at either their contract rate plus two per cent, or at the Bank of Canada’s benchmark…

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