Purchasing a Property – Tips and Tricks

On , In Insights, Real Estate

The purchase of real estate is an exciting, albeit potentially stressful process.  How could it not be – the fast-paced nature of real estate coupled with managing the financial aspect can leave a buyer feeling overwhelmed.  In this blog we will discuss some tip and tricks to set you up for purchasing success and alleviate some of that potential points of stress. 

  • Carefully choose your team of professionals. 

Work with professionals that you trust and feel that they understand you, and what your goals are.  Also identifying and engaging the services your professional team early in the process ensures you have the people you need in place when the time comes to make your offer. 

  • Get those ducks in a row.

When I say “ducks” in this instance I mean something less cute – as in paper.  Tracking down your banking information, tax information, pay slips and other documents in advance (in particular, before you pack them).  If you are obtaining mortgage financing, you can bet that your mortgage broker will need some, if not all of these things to get you your approval.

  • Nail down your personal funds.

Often, pulling funds out of investment accounts takes time.  Leaving the withdrawal of funds until the 11th hour could potentially cause delays in closing – and that’s never a good thing. 

  • Share your contact information.

There are a lot of people behind the scenes of a successful purchase of property.  From your realtor, to your mortgage broker, insurance agent, home inspector, to your lawyer, just to name a few.  We find the process can progress gracefully when your service providers are able to communicate with each other.  A lot can be solved quickly with a phone call or email between your team of professionals.

  • Make a list and ask questions.

Making a “to do” list is worth its weight in gold in my opinion.  Anything from “did I set up utilities” to “when do my movers arrive” could be helpful.   If you aren’t sure where to start or what all you should consider, reach out and ask those questions. 

Not to end this on a cheesy note, but if I could leave you with the ultimate take-away, it would be “teamwork makes the dream work”.  Here is to making that property ownership dream, a reality for you.

Author: Tracy Lerfold, Designated Paralegal to Jennette Vopicka and Danielle (Dani) Brito

This information is general in nature only. You should consult a lawyer before acting on any of this information. This information should not be considered as legal advice. To learn more about your legal needs, please contact our office at (778) 940-3768 or any of our lawyers practicing in the area of business law at the following:

Danielle (Dani) Brito: [email protected]

Jennette Vopicka: [email protected]

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