How to find the best accommodation of your dreams? How to determine your budget? How to finance your acquisition? To accompany you throughout your real estate purchase, Ramneek Sidhu provides you with a guide adapted to each situation.
Tips to buy your accommodation
1. Find your accommodation
In a tight real estate market where demand is strong but where properties – for sale or to rent – are rare, it is essential to pay particular attention to your search for accommodation, whether by entrusting it to a professional, by demonstrating responsiveness, prioritizing your criteria or showing yourself to be both demanding and realistic.
2. Create an offer to purchase
Once you have visited a property that meets, if not all of your criteria, at least most of them, do not delay in sending an offer to purchase to the owner. In a tight market where there are more buyers than sellers, be ready to quickly draw an offer “at the price”. Still it is necessary that this one was formulated in the rules of the art.
3. Sign the sales agreement
As soon as your offer to purchase has been accepted by the owner of the accommodation on which you have set your sights, you will have to sign a sales agreement. This preliminary contract will seal your agreement, will list the elements of the sale (price, characteristics of the accommodation, etc.), will mention the presence of any clauses/conditions and will indicate the deadline for signing the authentic deed.
4. Finance your property
You are not an international star or a multi-millionaire? This chapter is for you. You will have to knock on the banks’ doors to find the best rate. You don’t have the time or you don’t like to negotiate, hire a broker for you. He will accompany you until the signature of your loan.
5. Buy your home permanently
To be the owner of your home, you have to go through the notary box and incidentally pay the transfer duties. You will sign the final deed of sale and pay the balance of your property. Welcome to the world of owners…
6. Prepare your “departure” before moving
If you are currently a tenant, consider the exit conditions of your rental lease. In the case of an empty rental, the notice period is three months, or even one month only if the accommodation is located in a “tense” area. For “furnished” rentals, the notice period is one month.
If you own your home, ask yourself if you will resell it (in which case, you need to have it estimated ) or if you rent it out (in which case, it is a rent that you will have to set ).
7. Define requirements and prioritize criteria
To hope to find your next accommodation, you still need to know what it should look like! To have a precise vision of your future “home” , make a “robot portrait” of it: surface area, location, services, price, etc.
8. Set up an email alert to find your accommodation
To be sure not to miss the rare loss, create an account with Ramneek Sidhu to receive email alerts. Memorizing the criteria of your real estate search will allow you to be notified as soon as a property corresponding to your wishes (price, services, location, etc.) is offered for sale.
9. Determine your budget to buy your property
Contact a broker to get a clear idea of how much you can borrow. Also note that other costs (agency fees, notary fees, movers, etc.) are added to the sale price of a home.
10. Use the services of a real estate agent
A study has shown that by entrusting your search to a real estate agent, you multiply by three the chances that your project will succeed. But a real estate agent will not only help you find your future accommodation, he will also accompany you until the signing of the authentic deed of sale. He can even advise you on the feasibility of your project and, if necessary, help you negotiate the sale price with the seller.
11. Prepare your visits in advance
- To visit as efficiently as possible, refrain from visiting “as a tourist”… On the contrary, each of your visits must have been meticulously prepared . Our checklists are there to help you not forget any details (work to be planned, exposure of the apartment, existence of easements around the house, etc.).
- Gather as much information as possible
- In addition to helping you with our checklists, take photos of the properties you visit.
- Get yourself accompanied too.
Take an interest in the property’s past: has it returned to the market? How long has it been on sale? What are the seller’s motivations? So much information that could be invaluable to you at the time of a possible negotiation.