Things
to know when Buying a Property at Abbotsford BC Canada
The first
and foremost necessity while buying a property in Abbotsford BC Canada
is that you must get acquainted with the place first, which in turn helps
you to decide the kind of property that you can invest in.
You also
need to know the exact location, the cost of the property, the payment
procedures and other relevant details.
Besides knowing
the place well, you should also be adept in basics of buying and selling
of properties. Ignorance of any such procedures may cost you dearly and
when you know the procedures inside out, the same can save you from problems
and you can even save few thousand dollars.
Any buyer
will be interested in finding a right property. To help you out in your
endeavour, in Abbotsford BC Canada there is a service by name Multiple
Listings Service (MLS).
This is an
online database that holds details of almost all properties that are for
sale throughout Abbotsford BC Canada. And any body can have access to
the database of MLS.
You can start
with this database for your search of a suitable property. However, you
need to tie up with a realtor agent to act as your buying agent.
Engaging
an agent will also be more beneficial as the agent is capable of accessing
more of information than any other ordinary person can access.
The moment
you decide on your property, your agent can take over and do the rest
for you till you close the deal.
The agent
will also make arrangements to see and inspect the property and the agent
may even get an appointment with the listing agent.
When you
are finalising the deal, never get anxious or openly show your interests
in the property, as the seller can exploit the situation and try to fleece
you by increasing the price.
You can have
your own representative to do the research in the market and the realtor
will also help you in getting a suitable offer.
In the offer
made there will be things or points more than the actual price. You can
have dates added and specify the date on which you would like to take
possession of the property.
Once the
offer is made, the same will be presented to seller for acceptance. Under
any normal circumstance, any seller will accept the offer and in extraordinary
cases the seller may come out with a different offer, which you may either
accept or reject.
Such type
of offers is made after making changes and finally one particular offer
will convince both the buyer and the seller. There are also chances that
none of offers will be accepted and the entire deal goes without closing.
Once the
offer is accepted, then you are supposed to do things for removing the
subjects. This is called “due diligence” and it is your responsibility
to ensure removal of subjects.
For example
you may need to arrange financing by seeing a mortgage broker or financial
institution.
When it is
time for subjects to be removed, you have a choice. You can remove the
subjects and go ahead with the purchase of the property as agreed in the
offer. Alternatively you can leave the subjects standing and let the offer
lapse.
If you decide
to proceed with the offer, then you will formally remove the subjects,
by signing another document. At this point the offer becomes binding on
both parties. Neither of the parties can back out at this stage.
As agreed
in the offer, you will make the deposit amount and the amount will be
held in an interest bearing trust account for you.
Once the
deposit amount is made, you can be confident that the property is yours
on the given date.
After this
stage you may have to engage a lawyer or a notary to finalise the final
account and for getting the legal title over the property.
On the exact
date of possession, you will receive the keys of your new property and
you can start enjoying the benefits.
Now it is
time for celebration! You have now successfully bought your home in Abbotsford
BC Canada!
| 
