Aug 08, 2014 : 22:08 PM

  • Surviving the Subjects

    You've found the home you've been looking for...you put in an offer...it is accepted!! NOW is when the fun begins: removal of the subjects.

     

    Usually when a buyer puts an offer on a property, there are subjects that are written into the contract that need to be removed before the property is officially sold. The most common subjects are financing, property or home insurance, home inspection and if you are purchasing a rural property, I recommend both a water & septic test to ensure it is sufficient for what you are looking for.

     

    Usually 2 weeks is sufficient enough time to allow for in order to take care of these subjects. It can often be the most stressful time of the whole process and buyers often worry about what will come back with the inspections. There are also the odd time when inspections come back negative and it is just too much for the buyer and the offer collapses. More often though if you are working with a great Realtor, they can often negotiate with the seller on your behalf to see if a compromise can be reached in order for the sale to continue. Sometimes buyers question if they spend all this time and money going through the subjects and it doesn't work out, they are out a few hundred dollars. But if you look at what you are purchasing such as a $200,000 home and you find out it would have cost you $10,000 to fix the roof, a few hundred dollars is worth knowing what you are purchasing. 

     

    It is best to do your homework when purchasing any type of property as knowledge is power and it can help you in making good judgment calls in regards to your future investment. As stressful as this process can be for some buyers, it is always worth it in the end when they receive the keys to their new home. 

     

    If you feel ready to dive in and find the best property for you & your family, just give me a call or send me an email and we can meet and establish which is the best direction to head in for you. 


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