Saved by the bell....

Just jogged a memory for most people from the 90's and the hit teen sitcom on TV that everyone watched at some point.

Who doesn't remember Kelly Kapowski and Jessica Spannow. Or Screech and his odd ball humour that went along with Zack Morris' lady charming charisma?

I'm not here to blog on that so don't worry.

Today's piece is on the Subjects you can put in place to protect you on a Contract that you get accepted when you are buying a home.

Why you ask is this important?

Here is why.

What if you thought you had your dream home only to get a gut feeling that something is wrong. What if there is some underlying detail in the foundation or electrical work?

What then...is there a way out?

The answer is YES, if you have taken the advice of the 2 professionals I hope you are working with when you are buying a house. That being your Realtor and your Mortgage Broker !

2 Subjects that should be on every contract should be:
- Subject to finance
- Subject to inspection

And here is the best part. Either can be invoked as long as they are not removed.


WORD OF WARNING...

SOME QUESTIONS MAY BE ASKED, AND THE ODD TIME YOU MAY HAVE TO PROVIDE DOCUMENTATION.

Due your due diligence when looking at a debt of $250 K.

Give yourself every opportunity to say yes, But, give yourself an option to get out if the inspection or financing fall through.

I've tweeted this a few times and I will put it on record here:

"Trust your gut feeling. Believe it or not, it is smarter than you"

Before you make an offer, think long and hard about the place and what little things can go wrong.

Check out the neighborhood.
Check out the Neighbors, physically go talk to them about the place.
Is there a school nearby that is good for your kids?
Is it within walking distance of a grocery store?
Is there a park nearby?

All of these things cannot be an afterthought. They need to be discussed with your Realtor and be factored into the decision just as heavily as finding financing with your Broker.

There are plenty more questions to cover that the few I've mentioned. Make sure you sit down with your 2 professionals and come up with a plan. Ask them to help you find your dream home and you will be pleasantly surprised at the time and effort they put in on your behalf.

Check out my web page for links to my twitter account and facebook page for all of my sage advice, and even referrals to professionals who will help you.
www.kevynoyhenart.ca

Until tomorrow....


Kevyn