Tag Archives: Real Estate

Home Inspection Checklist for Canada

 

  • A home inspection by a qualified inspector is a vital step when buying any home. Before committing to a purchase, the homebuyer should hire a home inspector to ensure the home is in proper condition. Except in British Columbia, where licensing is required, home inspectors are not regulated in Canada. If for no other reason than that, it’s important that the homebuyer understands what she should expect from a proper home inspection.

Exterior

  • According to Griffin Home Inspection Services Inc., a Canadian home inspection company, homebuyers can expect a complete inspection of the exterior of the home and its functions. This includes the roof, exterior wall cladding, flashings and trims. It also includes anything else on the outside of a home, including doors, decks, balconies, rain gutters, retaining walls, driveways, patios, walkways, railings and steps. The final written home inspection report to the homebuyer should detail the condition of each of these things. The home inspector should inspect the roof by getting up on it—not from the ground.

Interior

  • The interior of the home, including floors, walls, ceilings, stairs, railings, the garage, countertops, cabinets, doors and windows will be inspected by the home inspector, and the conditions of each should be accurately detailed in the written report. The total time to complete a thorough home inspection is approximately two to three hours, and most of this time will be devoted to the interior and the systems of a home.

Systems

  • Homes are systems, not just walls and a roof. They have intricate components that keep them functioning, safe and healthy for the occupants. Systems examined during a home inspection include mechanical ventilation systems, air conditioning, heating, electrical systems and plumbing systems. If there’s a fireplace in the home, the chimney and flue must be inspected, as well as components of any gas fireplace or wood stove. The conditions of these systems will be detailed on the home inspection report.

Support

  • The support systems of the home will be inspected. This includes both the foundation and the framing of the home.

Repairs

  • The final written home inspection report should explain what repairs need to be made to the home, if any. Home inspectors will not perform repairs themselves. Be wary if a Canadian home inspector recommends a company to perform the repairs. This is forbidden by the Canadian Association of Home and Property Inspectors. An appearance of conflict of interest can place the credibility of the home inspector in question.

Mold

  • Home inspectors in Canada are not required to test for mold. Mold is a frequent problem in homes, and unsuspecting homebuyers risk buying homes that pose serious health risks because of toxic mold lurking in the walls. Most home inspectors in Canada will not pull back carpeting or drywall to check for mold. A 2010 Canadian Broadcasting Corporation investigative report said the company hired five home inspectors to inspect a home infested with mold, and no inspector found it.

Homebuyers wishing to be certain the home they are considering is not infested with toxic mold may need to hire a qualified mold inspector in addition to the home inspector.
Contact FamilyLending.ca for more information.

Home Inspection Checklist for Canada | eHow.com


Steps For Home Buyers to Consider …

 

 

Step 1: Get Preapproved!

The first step in the home buying process is to take a moment to get the preapproval from a lender of your choice. This can save you hours of searching for properties that do not suit your budget, or what are even more painful, purchasing a home then discovering you are not eligible for financing.  Getting preapproved provides you with peace of mind, aids in limiting the search criteria and most importantly, gives your lender a fighting advantage by being able to alleviate a merchants worry about funding.  Latter is especially important should a competing deal surface.

Step 2: Seek Out Loan Conditions!

Prices will be flexible. Banks will gladly open their doors to get your business especially if you have a good credit rating and are interested in any other services they provide. 
Released rates would be the best starting point.  It is wise to know what the best rate is and this is completed by obtaining quotes of lenders posted rates from competitive companies. As well, asking if the financial institution covers evaluation charges, buy-out fees, penalties, payment options, portability etc.  can save you a great deal of money over the life of the mortgage.

Step 3: Make Sure You Receive Professional Inspection!

Nobody wants to purchase a home only to come to the realization that there are defects, concealed or not. Be sure to obtain assessments of the places necessary. If you get the results back and there are in fact inadequacies, the purchase cost may be discussed to deal with the crucial maintenance. The agent you’re working with can advise which assessments to consider.

Step 4: Utilize An Expert Broker!

The broker of your choice can help you make a purchase with the smallest number of difficulties. Your broker is able to ensure the cost will be marketplace cost. The lender can offer expert guidance regarding everything from incorporated factors, settlement techniques and so on. All things considered, it is their job to do what you want.

Step 5: Sell 1st Then Buy

In the event pricing will be significant, you should always sell your current house previous to purchasing another.  The best thing about this is it lets you know exactly what cash you’ll have available for your next investment. Getting rid of your home first allows one to put less restriction towards the investment, making the proposal very appealing. Sometimes, additional funds can be required by the home vendor which goes towards removing the property from the listings. An additional benefit will be when you find a property that you really love, chances are others will also find it attractive therefore; one could be put into a position that their proposal may be overlooked, but if you have sold your house already, this is not a problem.

Step 6: Understand Your Purchasing Expenses as a Whole

Know all the costs linked to the purchase. Consider the following fees: lawful charges, exchange taxes, building fees, remodelling and any other housing costs that are applicable. 
Contact FamilyLending.ca for more information.

Sell your Home for Top Dollar!

 

Following the steps below can help you maximize your selling price and put more money in your pocket. Avoiding some often over looked mistakes is easy and takes little time, cost and effort on your part. 
1.   Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your home, without looking desperate and making yourself a target for low-bidders, really pays off. Know all there is to know about your market before listing and work hand-in-hand with the right real estate professional. Insure you are not selling for the first offer through the door.

2.   Best Home in the Neighborhood: Your home is one of your most personal possessions. Don’t be blind to flaws, unique personal preferences and needed cosmetic improvements. This will cause overvaluing of the home, hurting its chances of being sold for top dollar. Listing with the right agent gives you a well-informed “third eye” that will help you price your home at a fair market price.

3.   Limited House Viewing: Buyers want to view a home on their own time schedule. Unfortunately, their time schedule does not always coincide with your time schedule. Leave a lockbox or key with your agent so your home can be shown when you are not around. You never know if the one who got away was your next homebuyer.

4.   Restrain Emotional Decisions: Don’t let a few hundred dollars, which will mean very little to you in the long run, ruin a sale. Take a look at the big picture and react rationally. Use sound judgment!

5.   Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in the selling of a home. Spending $1200.00 on new carpet might add another $4,000.00 to the price of your home. Get an objective point of view from your real estate professional or interior design consultant. They can provide you with a list of items that will maximize the profitability of your home sale.

6. Disclose Property Flaws: Property disclosure laws require sellers to list any flaws of which they are aware. If you are unaware of flaws or attempt to cover them up, you risk losing the sale or finding yourself in court. Get professional assistance from an agent, who can introduce you to qualified inspectors and insure the smooth sale of your home.

7. For Sale By Owner: Most homeowners who decide to sell their own home, do so because they believe they can save the commission paid to the real estate agent. Everything has a price, and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the For Sale by Owner. Furthermore, many costly mistakes can be avoided with the right guidance. Lower prices and more time on the market could be the largest costs.

8. Refusing to Trust Your Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right agent, you can relax and trust their judgment. The right agent is a valuable team member, who will protect your best interests and make your sale as profitable as possible.

9. Know Your Market: Most homes that do not sell during the first listing period are priced too high. You need to understand your market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom from friends and family. A professional agent knows the market, just as you know your market for your work place.

10. Choosing an Agent Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Choose and agent with a strong track record and aggressive marketing plan. A top producer knows their market well and can generate many buyers. Selling your home is one of the most important decisions you’ll ever make! Base it on good, sound business sense and the rewards will add up.

Before you make one of the most important decisions (who to list your home with), shouldn’t you become as informed as possible? By aligning yourself with a top agent, you insure that all the important issues and seemingly insignificant, yet very important, details are handled professionally. Your home sale should not be a grueling ordeal. The more informed you are, the better chance you have of making a sound business decisions.

We sincerely hope these tips and ideas are of value to you. If you are in the market to purchase a new home please let us know and we can assist you in not only arranging your financing but also recommend a Realtor or home inspector.  Please call or email FamilyLending.ca for a personal, no obligation consultation.

Home Energy Checklist

 

We recently put together this Home Energy Efficiency Checklist to help homeowners optimize their energy consumption and reduce their energy bills. We designed it as an easy-to-use guide for periodically examining your home to find energy-wasting trouble spots. It also includes some preventative maintenance tips that will help you avoid problems before they happen.

If you have any further questions about how to maximize your home energy efficiency, or if you would like us to provide you with our list of home energy experts, please call or email us. And if you hear of anyone who’s looking to buy or sell, please keep us in mind.


ANNUALLY:
Check your heat and A/C systems.

Check windows and outside doors for drafts.

SEASONALLY:
Check furnace switch, fuse and breakers.

Check furnace blowers, oiling motor and changing belt if necessary.

Check thermostat accuracy by taping thermometer to wall next to it.  If discrepancy, have it re-calibrated by a technician.

Check central air condensing unit for obstructing leaves and debris, and hose out if necessary.

Keep shrubs pruned back to maximize airflow.

Check room A/C condensate drain outlet for plugging.

MONTHLY:

Check and clean/change room A/C filters.

Check room A/C condenser coils and intake vents for obstructions.

Check furnace filter and change if clogged.

GENERAL:

Check insulation for type/thickness, beginning in attic/top floor.  Upgrade if inadequate.

During humid weather, check central A/C condensate drain to ensure it is carrying off excessive moisture.
Contact FamilyLending.ca for more information.

Home Security Checklist

 

We don’t wish to “alarm” you, but we thought you’d be interested in this Home Security Checklist that we put together. It gives you a basis for periodically inspecting your home to make sure you’re doing all you can to protect your valuables against “uninvited visitors.”  We hope all is well and that you’re enjoying your home. If we can help you, your family or your friends with any mortgage needs, please don’t hesitate to call or email us here at FamilyLending.ca. 

Do you have a security system? 
Do you have motion-detector lights around the property?
Do you keep your garage locked?
Did you change the locks when you moved in?

Do you have strong locks on all doors and windows?

Have you kept your keys guarded against unauthorized duplication?

Do you always use the peephole before answering the door?

Do you have automatic timers controlling your lights when you are away?

Are your possessions insured and do you have a complete inventory of them?

Are extremely precious items secured away from home, in a safety deposit box?