Home Buyer Tips

Posted by Wayne Dumbrell
May 23rd, 2018 at 12:48pm

It's a big decision and there is a lot to learn. If you have decided to buy a home the following information reference tools and finance guidance provided by "Dumbrell Real Estate" will help you along the way!

Find a Qualified Buyers Representative. How often do you purchase real estate? One to three times in your lifetime. So you can hardly expect to know all the ins and outs of such a major purchase complicated by so many details a hand shake is not permitted as an agreement to purchase in land.

Most transactions in B.C. Sellers are represented by a listing agent who manages details only for the seller and represent their interests. As a buyer, don’t you want somebody to provide exclusive, complete and Honest representation of your interest in the transaction? The Dumbrell family have been doing this for over 40 years and invite you to view our buyer endorsements. We are now representing third generations of families like yours.
A buyer’s representative is an advocate for the buyer – not the seller – in a real estate transaction. Your representative owes fiducial (legal) duties including confidentiality and loyalty to the buyer client and must keep your buyer’s interest foremost throughout the transaction. Your first step is to find and retain somebody that brings more to your buying side than the seller has. Often people select a realtor because my uncle knows them or their friend of friends and just got their license in the last few years or less. Not all buyer’s representatives are equal.

Things to consider when selecting a Buyers Representative!
1. Is this an experienced realtor with years in the local area understanding soil, water and neighborhood issues.
2. Does this buyers representative have the detailed background to assist me in getting the bests mortgage for me and my family, addressing portability, qualifications, blended interim financing or mortgage assumption options. Anyone can walk into a bank but what do you do then if you do not fit that institutions unique lending requirements.
3. Is your representative a negotiator with advanced training in this area? You want to ensure you get the best terms so you better make sure your representative is experienced and has the expertise. Ask how long they have been working with buyers and can they provide you with references.
4. Knowledge – What is that buyers representative area of specific knowledge including neighborhoods
5. Explain – Ask "how will you assist me at each stage of the process" Can we discuss your buyers representation agreement.
6. Compensation - How is the buyers representative expecting compensation? *If I hire my buyer rep as the B.C. Real Estate Council advises, will I be subject to any additional costs beyond the purchase price.

We’re confident you will call The Dumbrell Real Estate line at 250-248-9996.

"Expect the Very Best"