Caveat emptor - Let the Buyer Beware

Protect yourself from making the wrong purchase

I am often asked why Buyer's should have their own Realtor representing them exclusively in their purchase, as opposed to   "I'll just contact the listing agent", and additionally how their Buyer's agent will be paid?

In most cases, where a Seller has already agreed to pay a commission to their listing agent, this total commission includes paying the Buyer's Realtor, at no additional cost to the Buyer.

Regarding the question of why Buyer's should take advantage of this opportunity to have their own Realtor, Buyer's need to know that only an exclusive Buyer's agent is looking our for their best interest, and not the Seller's.

There are many facets of due diligence which only a professional, skilled, and honest Realtor will advise their Buyer clients about. I have personally advised many clients to avoid certain properties at any price for many and various reasons.

For one example of a Buyer who did not get all the facts relevant to their home buying decision, see the news article in the link below.

This is just one example of how the disturbing history of a property is more than some buyers can live with.

Buyers beware a toxic surprise

Here is another interesting and recent article which addresses contamination to residential properties from commercial or other environmental hazards.

Protect yourself. Use a professional, skilled, and honest Realtor who will provide you with all the information available to make informed purchase decisions.

Pending developments - what you need to know

With development all around us, Buyers looking for their next dream home need to be cautious about pending developments and how these may impact their enjoyment of their home.

What may be of concern to you may not be of concern to another Buyer, so it is very important to work with your Realtor to learn about pending developments and make informed decisions about proceeding with your purchase, for your own reasons. 

Is your future dream home a former Grow Op?

As the news article in the link below explains, there are many reasons to avoid buying a former Grow Op property, where the property was used to grow or manufacture illegal substances.

In addition to health concerns, you must also consider that even if you get a great deal on the price, you will need to disclosed the property history when you sell, which will significantly impact value, and more importantly, even if you get a Buyer who wants to buy, their mortgage lender may not, and if the Buyer can't get a mortgage, you don't have a deal.

As far as how to avoid buying a property with this type of history and stigma, Ontario does not yet have a formal registry for these properties, so engaging the services of a skilled and honest Realtor is your best first step. 

Have questions? Ask me anytime.