Already in 2014, Toronto has witnessed an exciting, yet stressful real estate market for potential home buyers. The city has seen a decline in listings and soaring house prices due to the low inventory and high demand. Currently the market is flooded with buyers sparking a current trend of irrational bidding wars, bully offers, and more home auction scenarios.
Already in 2014, Toronto has witnessed an exciting, yet stressful real estate market for potential home buyers. The city has seen a decline in listings and soaring house prices due to the low inventory and high demand. Currently the market is flooded with buyers sparking a current trend of irrational bidding wars, bully offers, and more home auction scenarios.
Recently in the West end of the city, a home saw over 300 visitors at its open house, and eventually sold for $150,000 over asking. This case is not isolated, and has become more and more common.
Here are a few tips on getting the best value for your dollar, and may help you gain an instant advantage in situations such as these.
Have a firm price in mind – Running the numbers before presenting an offer can help you stay focused and stay within budget. Write down what you think the house is worth to you and try and stick to it so that when it comes time to bid, you are making decisions based on facts, and not emotion.
Take care of any conditions before presenting – Going into a multiple-offer situation before dealing with financing and home inspection can be the difference between your offer and someone else's being accepted. Sellers like to see a firm offer and getting pre-approved for a mortgage is one thing that you can check off the list. This also allows you to get a strong grasp on your finances and keep you focused. Another great thing to consider is hiring a Toronto home inspector prior to presenting an offer. Home inspections can be taken care of before the offer date if you are serious about purchasing, and will allow you to make an informed decision about the purchase of that home, leaving no surprises come move-in day.
Appeal to the seller – One example of this would be the closing date. Find out when they would like to close and try and put that date in your offer. Although this may not be the ideal date for you, another buyer with more flexibility may just have the upper hand.
Buying a home should be a fun and exciting time in your life. Make is less stressful by hiring a knowledgeable, qualified, and savvy home inspector. A home inspector can help you budget for unforeseen repairs and future considerations. This will assist you in coming up with a firm price for your potential purchase and allow you to feel comfortable and confident in your decision.
For all your greater Toronto home inspection service needs, visit www.allmaxhome.ca or call 416-995-9960 where they use expert advice to provide peace of mind.
The inspection of the Building or Property by AllMax Home & Property Inspections is subject to the terms,
conditions and limitations stated below.
The report, issued by the inspector, is prepared with reasonable skill and care. This consulting service is
limited to the physical evidence that was visually accessible at the time of inspection.
The required repairs to the building include, but are not limited to, what is reported herein due to the
limitations and restrictive nature of the visual inspection. The client is hereby warned that not all
deficiencies will be discovered. 80% of the first year repairs should be revealed; not 100%.
The inspection report is an opinion of the present condition of the property. It is based on a visual
examination of the readily accessible features of the building.
A Home Inspection does not include identifying defects that are hidden behind walls, floors or ceilings.
This includes wiring, heating, cooling, structure, plumbing and insulation that are hidden or inaccessible.
Some intermittent problems may not be obvious on a Home Inspection because they only happen under certain
circumstances. As an example, your Home Inspector may not discover leaks that occur only during certain
weather conditions or when a specific tap or appliance is being used in everyday life.
Unless specifically requesting this service the determining the presence of mold, fungi , asbestos and other
indoor air quality contaminants are specifically not included in the standard home inspection.
The inspector’s role is principally educational; to provide you with a better
understanding of the building.
The inspection is designed to give factual statements of the property’s current and present condition. No
personal opinions will be provided regarding value or worthiness of the purchase.
This inspection and /or report are not a guarantee, warranty or insurance
policy of any kind. The main objective of the inspection / consultation service is to provide you
with a better understanding of the observed condition of the building / property. We caution you that we
will not be able to detect all deficiencies or shortcomings with the house due to the restrictiveness of a
visual inspection. As such AllMax will not assume your risk associated with buying a “used” house or with
the future performance of the house.
Cost estimates, if provided in this report, are minimums and are intended to be a rough guideline only.
Estimates are based on the most cost effective solution to address the problem and will not include
betterment. If a quotation and/or further assessment is required, the Client agrees to request this from the
appropriate specialist prior to finalizing the purchase.
The inspection does not cover code compliance issues set by governments or other regulatory authorities.
The inspection does not take into account eligibility for mortgage insurance, building or home owners
insurance.
The purchaser is advised to ask the property owner in writing if they are unaware of any defects that would
not normally be detected by a visual inspection.
All booked inspections are subject to a 50% cancellation fee, should formal written notice of cancellation
not be received within 48 hrs prior to the confirmed / scheduled appointment.
SCOPE & LIMITATIONS
The report is intended only as a general guide to help the client make their own evaluation of the overall condition of the home, based on their own personal preferences and expectations. It is not intended to reflect the value of the premises, nor make any representation as to the advisability of purchase. The report expresses the personal opinions of the inspector, based upon his visual impressions of the conditions that existed at the time of the inspection only.
The inspection and report are not intended to be technically exhaustive, or to imply that every component was
inspected, or that every possible defect was discovered. The fee charged for this general inspection is less than that of a technically exhaustive inspection, which would involve a number of specialists, a longer inspection time and a significant increase in the cost of the inspection. If the client requires AllMax Home and Property to proceed with a more comprehensive inspection, the client would be required to pay additional fees for those services with the appropriate specialists, independently of this agreement.
In order to prevent potential property damage on the premises and personal injury to the inspector, the inspection will not turn power and gas or on/off, disassemble equipment, move furniture, appliances and stored items, excavate the grounds, or board roof surfaces. Excluded from the report are all components and conditions which by the nature of their location are concealed, such as behind walls, camouflaged or difficult to inspect. Some problems can only be discovered by living in a house and cannot be detected during a few hours of a home inspection. A roof, foundation or shower enclosure leak, for example, may only occur during specific conditions (water running for at least 5 minutes, wind driven/heavy rain, etc.). For these reasons, the client or their representative must obtain prior to completing the purchase agreement, a legal disclosure from the vendor regarding their knowledge of any history of leakage or major structural and electrical modifications during or prior to their possession of the inspected property.
Confirmation of environmental hazards is beyond the expertise and scope of a professional home inspection. Some of these conditions include, but are not limited to: formaldehyde, lead paint, asbestos, toxic or flammable materials, soil contamination, mould or mildew, and underground fuel oil storage tanks. If, while inspecting the home, a condition is observed which is suspected to be an environmental hazard, we will make every effort to bring this to your attention as a courtesy to you. We therefore will not accept responsibility or liability for any environmental hazards or issues that are discovered after the inspection, whether they are concealed or in plain view. If your inspector identifies any concerns or if you have any concerns yourself about potential environmental hazards, it is your responsibility to engage the services of a qualified environmental specialist to provide a full environmental of the house and property before proceeding with the purchase of the home.
Other systems and conditions which are not within the scope of the building inspection include, but are not limited to: pest infestation, playground equipment, efficiency measurement of insulation or heating and cooling equipment;internal or underground drainage or plumbing, water treatment systems, swimming pools, hot tubs, septic systems, sprinkler systems and any systems which are shut down or otherwise secured; water well quality, quantity or zoning ordinances; intercoms and security systems; heat sensors; or cosmetics. Any general comments about these systems and conditions are informational only and do not represent an inspection.
Testing of household appliances are not within the standards of practice of a home inspection.
