Are you buying a home in Thunder Bay? There’s a lot to think about in terms of strategizing your offer and all the steps that come after that. There are also some key questions that should be addressed prior to even THINKING about putting in an offer.
If you are a Thunder Bay home buyer that wants to make informed decisions, this post is definitely for you!
In this blog post, I am going to review 10 questions that you must ask if you are buying a house in Thunder Bay.
Be sure to read to the very end, where I will let you in on one of the most important pieces of key information that Buyers should be concerning themselves with in this market if they want to set their offer apart from others.
Is there a Seller Property Information Statement included with the Property Information, and, has the Seller filled it out?
Are there any Latent Defects that have not been disclosed?
Are there any Rental Contracts that run with the property, and if so, what exactly are the terms?
Is the home Tenanted, and if so, what are the terms of the tenancy?
What type of wiring is present?
How old are the shingles?
How old is the furnace?
Is there a sump pump, and does it have a back flow prevention valve?
When are offers being accepted, are there any special contingencies that you should know about, and how many competing offers are there?
It’s really important to ask questions that will help you to understand any pain points that the Seller may have. Addressing Seller pain points is one of the most overlooked opportunities when it comes to understanding the few advantages that Buyers have to improve their offers outside of price.
One of the best ways that you can ensure that your interests as a home buyer are protected throughout the home buying process is by working with a Professional Realtor.
You can’t ask what you don’t know. When you are spending hundreds of thousands of dollars on a purchase, you definitely don’t want to leave any pertinent details to chance.
If you found this blog post helpful, you might be interested in my next post where I outline 6 red flags to watch out for when buying a home in Thunder Bay.
You may also be interested in familiarizing yourself with these common bidding war mistakes.
If you are a home buyer in Thunder Bay, and you have questions about the process, definitely reach out, I’m more than happy to help!