The success in Onni's Richmond Flo condo liquidation sale goes to show that there are a great number of buyers who are ready to buy if home prices are attractive to them. The past few months sharp drop in sales and significant price declines in Greater Vancouver were reported widely be the media. As a home buyer, you are wondering whether this is the right time to buy your home.
Be prepared and get ready
Whether you plan to buy now or a few months down the road, you need to review and reconfirm how much loan you can get. In view of the tightening in credit, you should make sure you can still be approved the loan amount you banks confirmed with you a few months ago. Talk to your bank or a mortgage broker to make sure you can be qualified for the loan you need.
When a good deal comes along, you should be ready to buy the home you want. Don't miss out or lose to another buyer who is more ready than you to commit on the fly.
Good homes priced competitively in today’s market don’t last.
Negotiate your purchase
Do not be deterred by the listing prices as shown on most listings. In today's buyer's market, homes sellers are eager to look at all offers. Motivated sellers will consider all offers, and some will accept deals presented to them - some of these deals may appear impossible or unreasonable. We are not in a normal market, some sellers may just do the impossible deals.
The question is how do you know or find good deals? Be informed and be prepared - make it fun to participate in hunting for your ideal home. Do your homework, and work with a Realtor who has the experience and local real estate knowledge
to guide you through the home buying process. Find out from your
Realtor, within the budget and the type of homes you want to buy, why
he feels certain homes represent good values.
Until you are satisfied and feel comfortable to buy, commit yourself to the home buying process. Don’t be afraid to make an offer. A low offer is better than no offer and a home seller may just accept your offer!
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