Tuesday, April 12, 2016

Multiple Offer Frenzy

In a multiple offer market we need to step back and make a few observations!

If you offer firm and without a financial commitment; you can lose your deposit.

If you offer without a home inspection; there can be unexpected repairs.

If you buy firm without a Status Certificate; your LENDER wants a report from your lawyer that everything is in order.

"Buyers NEED to recognize that “lenders may not approve financing if the property appraisal, conditions of the lands or building or any other factor pertaining to the property is not acceptable to the lender, even if a financing pre-approval has been obtained.”It also warns them that making an offer without a building inspection could lead to unexpected and expensive repairs later.

These issues need to be explained in detail to you [ informed consent ] because there are real financial consequences. 

David Pylyp 
TXT 647 218 2414 or Email

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