Select one of the frequently asked questions below to learn more about buying, selling, and renting real estate. Also, begin to think about important things to consider when diving into your real estate search.
Frequently Asked Questions
Question About Buying
Answer: The Mortgage Pre-Approval. You will need to get a mortgage unless you are paying cash for a house. To know how much home you can afford, you need to get pre-approved for a loan. This is the first step in the home buying process.
Answer: Around 30 to 45 days
The timeline for finding a house varies greatly from person to person. However, once you find a home and have an accepted offer, it usually takes around 30 days to close.
Answer: Almost everything.
A Realtor is a highly-valued asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.
Answer: Nothing
In most cases, you do not have to pay your Realtor anything to help you purchase a home. Instead, the sellers typically pay their Realtor a fee, and then that listing agent pays the buyer’s Realtor for bringing the buyer and facilitating the transaction.
Do your research, there may be federal Government and Provincial programs that will serve you well.
Answer: 5% down
For second properties a down payment of at least 20% is required for a second mortgage.
Question about selling
Answer: Minor repairs before putting the house on the market may lead to a better sales price. Buyers often include a contingency “inspection clause” in the purchase contract which allows them to back out if numerous defects are found. Once the problems are noted, buyers can attempt to negotiate repairs or lowering the price with the seller. Any known problems that are not repaired must be revealed as a material defect. You do not have to repair the problem, only reveal it and the house should be appropriately priced for that defect.
Answer: The answer to this question is different for everyone. There are many factors involved in determining the worth of your home, such as its location, size and age. You can get a general idea of what your property is worth by talking with a real estate. Request a Free Home Evaluation CLICK HERE
Answer: There are many factors that influence how long your home stays on the market before receiving an acceptable offer.
In Winnipeg it’s on average 30-60 Days.
Answer: April – July usually sees a significant increase in buyer activity.
Answer: No! There is not any situation in which this is appropriate. Having the owner in the house makes the buyers uncomfortable. They feel as though they can’t make comments or ask questions that could be offensive.