Real estate is a very dicey thing. It is one thing you can absolutely rely on to be not stagnant. Not every real estate transaction will follow through smoothly. It is good to keep in mind the problem spots and take action to protect yourself in advance.

Indecision

Indecision by anyone involved the process can cause major hindrance. Some might have put up their property in the market but might be having second thoughts. They might not be sure if they want to sell at all. On the other hand, this is true with the buyers as well. They make their agents show numerous houses without committing any one of them at all. This could prove to be expensive to the real estate agent who is spending time, energy, and money on this.

At times, there might be issues with a house that nobody had informed earlier on. If you the seller, make sure to let the agent know you are not interested in properties that have not had pre-inspection checks. The seller also can avoid getting rejected by getting a check done. If there are problems, contractors would make sure that it is all fixed up and ready.

Sellers Stubbornness

Seller’s rigidity regarding sales can impede the transaction. Sellers often tend to have expectations that are not really realistic. They should look at the market rates in the area before quoting a price. Many agents recommend them against such unrealistic values. However, many owners want to put it up in the market and want to try their luck. Once they find, it is not going to, they change their minds. This results in much effort and financial loss.

Proper Paperwork

Proper documents and paperwork are an important part of the home selling or buying process. A small problem can tank the whole deal. Agents need to check all the paperwork regarding the deal and make sure it is perfect from both ends. The buyer and seller should not depend on and blindly trust the agent and instead, should do their own checks as well. Sometimes, you might come across situations where you have no control over the transaction – no matter what your role was in the deal. An example of this could be the change in government laws or acquisition by the government. While the deal itself may have been accepted by both the parties, this external force can ruin the deal.

Financing Problems

Financing is a major concern in real estate. If you are selling your house and you find a buyer who is interested in your property, find out how they intend to finance the process. If they are planning to get a loan from a bank or depend on the profits from another sale, you should be careful. It is always better to deal with buyers who have direct access to funds.

While all the above discussion talks about the negative aspects of real estate, being careful and wary will help you avoid loss and disappointments. If you are careful, you will have a better chance at a successful real estate venture.

If you need help selling your home or navigating the real estate market to buy your dream home, contact Anima Sai today!

The trend of single women looking to purchase homes as compared to single men has increased recently as seen from many surveys taken. It is more common that a single female chooses a smaller home. One should also always keep in mind that mortgage payments do not exceed 25% of the person’s income. While making a big decision like this, one must think about their future needs and accordingly decide. A single woman who intends to buy a house of her own needs to look into the following aspects.

Single women can take the help of a realtor and find a neighbourhood which is easy to trust and is known for its safety and acceptance. Women are now working hard and coming up in every field and hence, now have enough buying power.

A single woman may find it a tough challenge to go house hunting for the first time due to psychological pressure on them. Unlike men, women choose quite early – in their mid-twenties – whether or not they would like to have a child. This decision will have an impact on their scope of an ideal house. As more and more millennia’s are shifting to cities, there is more interest in a house near their work.

It is essential that the prospective buyer should take into consideration the cost and the time spent in commuting. If you are not considering living in your house for some time, then it is better to let it out on rent. Keep in mind the taxes, realtors’ commission, and other expenses which might boost the cost of purchase.

Finding a Realtor

The first thing to do is to find a realtor in the neighbourhood who has your trust. Your proximity to the realtor will help you better when compared to the other buyers. Presently, there are agents who are experienced in helping single women buyers. A single female might want a home that’s more finished and turn key.

The agent will have more luck in searching for a better house for you as per your choice if you discuss with them honestly about your requirements. Single women, before buying a house, should do their research beforehand. This includes the crime rate in the neighbourhood. Ideally, everyone should know about this. This information can be seen on websites like Trulia.com. One can also approach the police and seek their help for safe buying.

It’s extremely important that when you are ready to buy a house, you are making a long term investment. Buying a house should not just be something that you do in the moment. You need to have at least a 10-year plan in place. Keeping the cost to the minimum in the beginning will help you out in the future. Make sure you do your due diligence on your financial situation as well as pick a realtor that you trust.

To find a suitable home is not that easy and it requires great effort and time on your part. You can still succeed in getting your dream house provided you are careful. There are some basic things you have to acquaint yourself with before you can make your home buying dreams come true.

The Financial Side

Before purchasing a house, think about your finances in detail for future years and how you are going to repay the loan. The finance aspect of purchasing a home is important. Calculate your total expenses to understand how much you can afford. Weigh in your income and expenditures for more clarity. Find out your total monthly income after the income tax has been taken care of. Add to this your spouse’s income and the income you might get post-purchase of the house. Then take a look at your total expenditures. This does not need to include your current rent if you are planning to go and live in the new house.

Then, subtract the expenses from the income to arrive at the your income. Also, make provisions for an increase in salary. Also deliberate on whether you are planning on having children as this would require time and money. Understand what your borrowing capacity is. With all of this information on hand, you can now know your repayment ability and hence, can borrow to that extent. The borrowing limits differ from institution to institution, therefore, the use of calculators will help you to determine the exact amount of mortgage money.

Know Your Mortgage Amount and Interest Rates

To arrive at the cost of the house and to get a conservative estimate of purchasing a house, you can use a home loan calculator to know your mortgage repayment timeline depending on the loan period and the interest rate. Always keep some a sum of money which you might have to pay before the loan is approved. Next, find out about the most competitive rate which will benefit you financially – both in terms of interest and the loan limit. The type of loan the buyers need will depend upon the individual. If you want the exact amount, then go for a fixed loan but if you feel the interest rates may vary in the future, then it is better to consider a variable rate of interest.

Once this is sorted, then you may have to get your income checked out, latest tax returns, and your savings history and any other documents that may be required by the lender to process your loans.

To get the best deals, survey the market for the most economical lender. Since it is a competitive market, don’t hesitate to bargain. Being able to submit all your documents immediately to your lender will facilitate the easy process of sanctioning the mortgage loan and thereby, get the amount approved and released.

It is also advisable to get the home inspected before you purchase the house to avoid complications or added costs down the road. Inspections may relate to the buildings, pest, electrical, and land survey. The matter comes to a close where you make a deal by exchanging your cheque with the vendor’s title of property ownership. Your lawyer will help you out in this process.

Let Amina Sai help you find your dream home! Get in touch today and find the home that’s right for you and your family.

The common thought that most prospective home buyers have is that they would be “easily” manage their home purchase themselves. The internet and easy access to information have made it possible for people to handle much of the legwork themselves. But there really is no substitute for a knowledgeable and skilled professional buyer’s agent. An experienced negotiator who knows the vibe of the market can save you considerable hassles, money and time by helping you make an appropriate offer, getting tough when necessary and getting the best possible deal.

But it’s important that you don’t just call the agent that shows up on the listing and sign up. Keep in mind that the agent works for the seller and will obviously keep the seller’s best interests in view. You need to work with a buyer’s agent who will exclusively represent you. Most agents require you to sign a contract that says you won’t work with any other brokers for a specific time frame.

But the fact is that the benefits of hiring a skilled and experienced real estate agent far outweigh the commision they charge for their services. They can make the process of buying a home less stressful, less expensive and less time-consuming as well. Take a look at how a real estate agent can save you money when buying a home:

1. They have the right business contacts

When you are considering buying a new home, you need to have the right people in your corner, or else the process can get very expensive and you may not even find the right home for your needs. It can be very time-consuming and tedious to scour various real estate listing sites, go through the details of different properties and visit many of them to identify whether they suit your needs.

Once a buyer’s agent knows that you are serious about buying a home, they will make every effort to show you properties that fit your requirements and budget. Many great agents also have access to off-listing properties and you will save time (which translates into money) on looking for a suitable new home.

2. They have the experience to help improve your odds in negotiations

Quoting a buying price isn’t something you can do off the bat. If your offer price is far lower than the listing price, the seller might not consider your offer at all. On the flip-side, if you quote an excessively high selling price, you may end up paying far more than the house is worth and may rue the fact later.

When you attempt to buy a home without help from a buying agent, identifying what the right offer price should be can seem just like a guessing game. However, when you hire the services of a great real estate agent, their knowledge of the local market is a plus. They will be able to guide you on what the right offer price and this improves your chances of sealing the deal.

A qualified and experienced agent will have deep knowledge of the current real estate trends in your local area, the price at which homes similar to the one you are planning to buy etc. This helps speed-up the home sale process for you and saves you, time, money and the trouble of looking at a large number of homes before zeroing-in on one.

3. They help you save time

It’s not uncommon for buyers that are managing their property search on their own, to believe that the process won’t take too much of their time. They feel that all they need to do is look on the right real estate sites, search for related ads in local newspapers, attend a couple of open houses and negotiate the price. But the fact is there is much more than that involved in a home purchase.

Buying a home isn’t just exhausting, but can be extremely time-consuming as well. That’s exactly why there are so many real estate agents in the industry today. Property owners that choose to manage this process themselves in an attempt to save some dollars, often find they have very little time on their hands to focus on their professional and personal lives.

If you end up spending all of your time just attempting to look for the perfect property, it takes away from your work, family and leisure time; and all of these are worth a lot more than you think. Working with a credible real estate agent is the best way to take this burden off of your shoulders. They have the knowledge and time required to get this job done efficiently and quickly. The amount of trouble and time they can save you can prove to be invaluable.

4. Effective sale negotiations

Knowing your financial & personal circumstances and keeping these confidential is crucial to the home negotiation process. If listing agents know exactly how much you have liked a particular house, and how keen you are in closing the deal etc., that can work to your disadvantage, and the seller may up increasing their asking price or reject your offer altogether.

But a buyer’s agent will keep all this information confidential and will negotiate the best terms and price on your behalf. The simple fact is that a seller’s agent typically works for the seller and prioritizes their benefit. But a buyer’s agent works for the buyer and not the seller and he will prioritize your goals, finances, and interest over selling a home.

Working with a credible and well-established real estate agent will help ensure you get the home of your dreams with the least amount of trouble at a price that fits into your budget. ASK AMINA! Nobody does Real Estate better.

Preparing to Buy a Home – Three Important Factors to Consider

Are you getting ready to purchase a home? This is an exciting venture and one for which you will want to be prepared. If you have certain priorities listed and planned for ahead of time, it will help you to focus on enjoying the home buying experience.

Here are three important points you will want to consider ahead of time:

1. Needs and Wants

You probably have plenty of things you want to have in your new home. Take the time to list, examine, and prioritize them.

Start with a list of all the things that are swirling around in your head. Write them down as they come to mind, not in any particular order at first. Once you have your list, it’s time to take a closer look. You may want to make three columns on a sheet:

• Column one – This column will be the things you must have in your home; the “need” column.
• Column two – This column will be the things you would like to have and, very well may be able to have; the “want” column.
• Column three – This column is your dream list. It would be great to have these things; this is the “wish” column.

Now you have some guidelines that will not only help you but also your real estate agent.

Location

The location of your house is important for many reasons. Think about the things that matter to you and make sure you look in areas that are conducive to your needs.

Do you have school-age children? If so, you will want to do a bit of research about the schools in the area. If you have a baby or toddler, you may wish to look into daycare or preschool programs. Kamloops is made of up many neighbourhoods. You may want an area that has families with children that are in the same age range as yours.

How far do you want your house to be from your job? Consider the amount of commute time you are willing to spend to and from work and focus your search in that circumference.

If you have family in the Kamloops area, how close do you want to live?

Budget

One of the most important things you will need to know before beginning your quest to find a home is how much you can afford. The best way to determine this is by meeting with a mortgage broker. These professionals can help you by verifying the amount of the mortgage you qualify for, helping to determine the price range you should be looking at, and explaining how much you will need for a down-payment.

Once you have these three steps completed, it’s time to move forward with your buying agent. Sharing this information with your realtor is going to make the process easier for everyone.

Contact me today and let’s get started on this exciting venture!

If you are a first-time home buyer, the journey that lies ahead can be quite exciting. Before long, you will also realize that almost every one that learns you are on this journey will have some advice to offer. While this advice may be well-intentioned, it can be quite difficult to sift through it and determine what works best for you. Here are some tips that can help you make the right choice:

Look for a trusted mortgage banker

Your ability to buy any property, your understanding of the purchase and loan processes, as well as your satisfaction with this experience in the short & long term will be influenced significantly by your mortgage banker. Even before you begin looking for a new house, you need to have a very clear idea of what you can afford. That’s where a mortgage banker comes in. You will have to provide this professional a lot of personal information. He/she will make recommendations on loans that will be best-suited for your personal and financial circumstances. This is exactly why you need to look for a mortgage banker you can trust completely.

Look for an experienced real estate agent

Sometimes prospective homeowners are tempted to work with someone they know personally and who has a real estate license. But, what matters is that you find a real estate agent who is experienced and knowledgeable enough to cater to your specific requirements.

It’s a good idea to get referrals from friends that have recently purchased a home. Make it a point to meet with and interview a few real estate agents before finalizing who to hire. During the first meetings, you need to ensure that this person is attentive and proactive in their approach. They should ask relevant questions regarding your requirements and focus on your answers.

Check out whether they have helped clients successfully purchase a property in the target price range and neighbourhood you are interested in and whether their preferred communication method suits your needs. It’s also a good idea to look for a buyer’s agent, rather than one that performs a dual role and represents the seller as well. The latter can cause a conflict of interests.

Be well-versed with the industry jargon

Just like any other industry, the mortgage lending and real estate landscapes overflow with industry-specific jargon. If you are unsure about what a certain term means, make it a point to get it clarified, not just in conversation but in the written materials too.

Don’t be tardy

When you are in the midst of the home purchase process, you will often be required to answer calls, produce various documents and show up for last minute meetings. In most of these cases, even the smallest delays can mean that some other buyer seals the deal and gets the house. Failure to provide the requested documents can result in a delay in the final purchase by days or even weeks. This is why you should make your home purchase a top priority and ensure these requests are attended to promptly.

Be curious and eager to know more about the property

When it comes to purchasing a home, being shy is only a downside. Your home is likely one of the biggest investments you will make in your life and it’s important that you get clarifications for any questions that cross your mind. A home purchase isn’t something you take lightly, and you need to have a very good understanding of every little detail of the process and the technicalities involved. After all, that’s one of the best ways to cover your bases and ensure there are no ugly surprises waiting for you, once you get the keys.

Comb through all the fine print

Most mortgage and home purchase transactions involve heap loads of paperwork that also have reams of fine print. While all of it may appear to be very generic, having a good understanding of all the terms of your loan and offer is key to your short and long-term welfare. This is why it’s important that you go through these documents with a fine-toothed comb before signing on the dotted line. You also have the option to run these documents by a legal expert.

Ask questions before making any finance-related moves

A number of things can have an impact on your credit report and affect your ability to qualify for the loan you need. This is why you need to first consult with your mortgage banker before you close/open any bank accounts, pay off loans, make any large investments, purchase a car, apply for new credit cards, or even borrow/withdraw funds for your down payment.

Do some insurance shopping

You will need homeowner’s insurance in order to finalize your home purchase. As mentioned earlier, start early, get your doubts cleared and don’t forget to read the fine print. You need to be very clear about what is/isn’t covered by the insurance policy. Find out how the payments need to be made, when you need to make them and what they are. If your home is located in a flood-prone or storm-prone zone, you might need to buy an additional policy to cover losses related to these natural disasters.

Think out-of-the-box

It’s never a good idea to take a closeted approach to buying a house; get a little creative and you may find a house that’s far better than your expectations. For instance, you may want to consider looking for houses in a neighbourhood you hadn’t considered looking at earlier. Maybe a condo will suit your requirements and budget better than a single-family home.

In addition to all these things, you should have all your paperwork and eligibility in place. You need to be pre-qualified for a loan and also have the pre-approval letter from your mortgage lender. The one way to navigate these waters safely is to work with a good real estate agent who will show you the ropes and help ensure you get the house of your dreams. ASK AMINA! Nobody does Real Estate better.

Homebuyers in want to save their money as much as they can when buying their next home. Skipping out on Home Inspections and other “optional” costs may seem like a good idea, but sometimes they end up saving you money after the fact. Home inspections are not typically required for and can cost a few hundred dollars on average. However, it can potentially save a homebuyer thousands after the sale is made. Here are some benefits of home inspections:

Electrical & Wiring

Electrical features in both new and older homes can pose problems and are not easily detected during a walk-through. Outlets, light-fixtures, amperage and other factors may also be inspected to determine if electrical work needs to be done in the home.

Water Leaks

This can cost you hundreds or thousands of dollars of damage if not caught and dealt with properly. For example, it can result in wood rot, mould growth and other issues.. An inspector will review the home thoroughly to look for signs of a current or previous leak even those unknown to the previous owner.

HVAC Systems

Replacing your HVAC system can cost thousands, and be quite a headache if you don’t know as much as possible about the old one. The inspector can be able to provide the condition, its age, its need for maintenance and other factors. Best not to just assume it’s hunky-dory-fine if the temperature is decent during your walk through – especially since the weather has such a range. You want to be sure!

Structural Damage

Don’t just look for noticeable cracks in the foundation, get an inspector to look for signs of damage

that may require assistance from a structural engineer. Structural damage can from factors such as a settlement of soil and erosion. It can also potentially add thousands of dollars to your maintenance costs if left unfixed/ or if the damage is already severe.

The Roof Over Your Head

These can get quite costly when it comes to repairs/replacement. If it’s not in good condition, your roof can lead to energy inefficiency, allow pests to get in, result in water leaks and other issues. Your Home Inspection will let you know the condition, age, and other characteristics of your roof to better understand what you’d be looking at repair wise (if needed).

Getting a property inspector to look at your potential home is basically invaluable in helping you understand the underlying issues that aren’t easily visible during your walkthrough. If you are interested in buying a home soon or would like more information on property inspections and if it’s right for you, contact us today!

HUGE LOCAL EXPOSURE

1. A custom property Facebook page will be created
2. A custom color property brochure will be created
3. A detailed description of the property with color photographs and a link to my website will appear on the Multiple Listing Service, Re/Max local, National, International and Yegishome.ca
4. Over 500 just listed cards will be mailed to area residents
5. A custom E-mail blast with photos and a link to the property website will be sent to agents (encompasses all major real estate offices)
6. With the owner’s permission, an Open House for the Entire Brokerage community will be held
7. With the owner’s permission, a For Sale sign will be placed on the property

PRINT ADVERTISING

1. The property will be advertized in the MLS guide with a full page color advertisement.
2. Custom property postcards will be designed and mailed to the area.

INTERNATIONAL EXPOSURE

1. Re/Max International

24-HOUR INTERNET EXPOSURE

The property will be featured on this Internet on the following real estate websites:
1. AminSai.com
2. Yegishome.ca
3. MLS.ca
4. RedFin.com

The property will be featured on Amina Sai’s social networks:
1. Facebook.com
2. Twitter.com
3. Instagram.com
4. Pintrest.com

Ask Amina – Nobody does real estate better!