Even if you are not currently looking for property, these 5 tips may help clarify/ease parts of the real estate process.
1. Mind Your Mortgage -A downpayment less than 20% may require mortgage insurance. Buyers must also have to pass a mandatory "stress test". Keep an eye on interest rates and chat with a trusted lender about options!
2. A Deposit Means Business -This money you drop with your offer to show you're serious about the transaction. The sum gets rolled into the down payment, but you lose it if you walk away from the transaction.
3. Check Your Inspections - Even if the seller has had a pre-listing inspection, you still have the option to set up a home inspection to catch anything they might have missed.
4. Extra Costs Can Add Up -Consult with your real estate pro to learn what those inevitable administrative, tax and legal fees may look like for you in the transaction.
5. Rely on Your Real Estate Professional -You're not in this alone. Your agent is there to get you the best deal and make the process as smooth and enjoyable as possible.