How to Buy a Home in Edmonton

Insight on buying from an experienced Edmonton REALTOR®

Open House Protocol

When real estate agents host an open house, the ultimate goal is to sell the home. The real estate agent who is hosting the open house has already spent time and money and anyone who walks through the door needs to understand, the agent will be asking you questions.

If you are looking for decorating ideas or you are already under a Buyer's Brokerage Agreement, let the hosting agent know. We have Rules, Regulations and a code of Ethics, whereof, we are not allowed to interfere with another REALTORS® Clients. If you are interested in the property and would like more information on the home, call your current agent - DO NOT tell the listing agent or the real estate agent is hosting the open house. Read More . . .

Can't find your dream home?

There is no such thing as a perfect house. If you are pre-qualified and have been looking for a home for a long time, there will be one of four reasons you haven't found your dream home.

Your first home does not to be a forever home. Purchasing your first property is the first step to getting your dream home by building equity. There are many people who prefer to rent. Every month, they pay for someone else's mortgage, helping the homeowner build equity. A good real estate agent will complete a buyers CMA for you, which will indicate a fair value market price and if it is below, you've already made money. BEST REAL ESTATE TIP: No matter what type of market we are in, the longer you ... Read More ...

Do Not Sign Forms You Do Not Understand

REALTORS® who are representing buyers expect to get paid for their services at some point in time. It is usually within a few weeks of the buyer taking possession of their new home. In the province of Alberta and to ensure real estate agents' are compensated for their services, a mandated agreement by RECA (Real Estate Council of Alberta) will need to be signed. It explains how much, the term of the agreement, what services will be provided and other relevant information.

If you have questions - ASK. Never sign anything you do not fully understand. Which means you can obtain legal information prior to signing or you may want to take the agreement home to read over more thoroughly. Real Estate Agents deal with forms on a daily basis, and most of us can explain listing and purchase agreements without even looking at them. A good REALTOR® will have ... Read More ...

Be Ready to Buy

If you are not in a position to purchase a home, you don't need a real estate agent. You can view as many homes as you like, visit open houses, view houses online and get calls from the selling agents, but you are only "looking". Don't waste a real estate agent's time if you aren't ready to act.

Real Estate Agents who work with buyers, spend time behind the scenes prior to showing any homes. By the time, REALTOR® has opened the home for you to view, they have already done their homework which includes ...

  • Setting up the showing which means they have made arrangements for the sellers to leave the property. The Seller has cleaned the house, made arrangement to have pets, elder parents and children removed. The Seller may have had to take time off work or postpone family events to do this.
  • Your Real Estate Agent has pulled the history on the home, including any price adjustments, if it has recently been relisted, how much it sold for previously,to confirm there is enough equity in the property should you decide to put in an offer.
  • Your Real Estate Agent has had a conversation with the selling agent, after taking time to track them down about the property to confirm there are no issues in which a buyer should be aware of such as any property defects, possession date, etc
  • After each showing, the selling agent will contact the buyer's REALTOR® for feedback.

If you are viewing more than one home, keep in mind, your real estate agent does this on every home they show you and if you are not in a position to buy, you are wasting time for both the agent, the sellers and their families.

How to Make an Offer to Buy a Home

There are several things to take into consideration, prior to making an offer on any home.

Market Conditions: Is it a buyers market or a seller's market? Knowing what type of real estate market you are in will help you choose an initial offer price. Completing a community absorption rate is the easiest way to know.

Possession Date: Edmonton Real Estate Agents have access to this information and as a rule of thumb, the quicker, the possession date, the more motivated the seller is. If a longer possession date or a set date is asked for, this is an indication which the seller needs a specific date and can be more important than price. Normally, homeowners with tenant occupied properties or vacant property are more motivated.

History: Your REALTOR® will know the history of this home. How long the sellers have owned the property, how long they have been trying to sell. Read more about working with a Buyers Agent>.

Edmonton Homes for Sale
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