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We’ve put together this guide to common buyer questions we often receive. Visit the first time home buyers page if you are looking for your first home. If you have additional questions, please feel welcome to contact us. We look forward to hearing from you.

The first step is to call us for a personal consultation. Our role is comprehensive and we work as your fiduciary. A fiduciary is the highest standard of care under the law and it’s your assurance that you have our complete and undivided loyalty in your best interests. You can count on us to use the greatest care and concern when managing your transaction.

  • We are informed about the market
  • Protect and promote your interests in writing
  • Perform due diligence to the highest standard of care
  • Render a skilled and conscientious service

Generally speaking, the price you can afford to pay for a home will depend on six factors:

  • Your household income
  • The amount of cash you have available for the down payment, closing costs, and cash reserves required by the lender
  • Your outstanding debts
  • Your credit history
  • The type of mortgage you select
  • Current interest rates

Here is a home purchase affordability calculator that you may want to try.

Yes, once you have decided that it’s the right time to buy, you should get pre-approved for a mortgage as soon as possible. This will give you three main advantages:

  • Create a budget for monthly expenses
  • Know the maximum loan you qualify for
  • Perform your home search based on a specific price range
  • Factor in the cost of potential home improvements
  • Be able to make an offer immediately and assure the seller that you are ready to buy

A home inspector will examine the land, structure, infrastructure, and provide a written assessment of condition. She will include photos and remarks that will give you insight on what and when some things, like a roof or furnace, may need to be replaced.

Attend the inspection and follow her through the process. Be prepared to ask questions and take notes. If you have a concern, mention it during the inspection so she can have a closer look or make recommendations.

If you make an offer on the home and it is accepted by the seller, we will ensure that the sale is subject to a professional home inspection. The sellers may offer a signed disclosure form which discloses known deficiencies. The home owner must disclose:

  • the presence of environmental hazards
  • walls or fences shared with adjoining landowners
  • any encroachment of easements
  • room additions or repairs made without the necessary permits or not in compliance with building codes, zoning violations
  • citations against the property
  • lawsuits against the seller affecting the property
  • hidden liabililties such as a buried oil tank

The offer to purchase is subjective and depends on a variety of factors. The general rule is that the selling price is negotiated by a motivated seller and a motivated buyer. The seller may be motivated to wait for a better offer while you may be motivated to pay the asking price.

Here are some scenarios that can affect how an offer is written:

  • Is the price fair?
  • Are other conditions of the offer acceptable?
  • Is your offer contingent on selling your present home?
  • Can both parties agree on a closing date?

Every offer to purchase is unique to the property and the situation of the buyer and the seller. We will help you to understand and weigh all the options and act according to your instructions.

We hope you enjoyed reading these common buyer questions and we look forward to answering your questions in person.

There are a number of companies in the area that specialize in Blue Mountain property management services. If the property is going to be a dedicated rental, you may also want to talk with a few Blue Mountain property management companies to determine the most desired types and areas that tourists prefer, or the specific features that locals want, so that your return on investment will be maximized. From their recommendations, and your personal goals, we can short-list properties to see in this area.

The local communities have restricted these types of rentals to a small number of buildings: If you’re looking for short-term or seasonal rentals, I encourage you to contact our office for a list of buildings that allow short stays.

Common buyer questions for first time home buyers in Blue Mountains

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