Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Realtor Marla Janzen Talks About How To Gain Negotiating Advantage When Buying

Marla Janzen is an award-winning Saskatoon Realtor she takes action to sell her client's homes and find them the perfect new place to live while negotiating the best terms and price possible. She loves what she does and takes great pride in providing excellence in customer service to all of her clients. Marla Janzen is a  Trusted Saskatoon, Warman and area Real Estate Expert listed on the Saskatoon Real Estate Category on the Saskatoon  Directory and she loves to provide Saskatoon real estate Tips that help and assist the public! In the latest news from Marla Janzen, Trusted Saskatoon Realtor® shares a tip about negotiation advantages



Gain Negotiating Advantage When Buying


Buying a property requires good knowledge of market conditions, personal finances and the ability to judge what a good investment is. Being able to negotiate realistically is equally important when you decide to make an offer. You should be well prepared before you are actually in the position of preparing a formal offer to purchase. 

Market Conditions

Look at the long-range prospects of your borrowing commitment. During a period of low interest rates, you should take into consideration whether or not prices are expected to increase in the future. Consider locking in at a reasonable rate for the opportunity of a significant gain in the future. 



How Much Can You Afford?

Before you go into the market to look for a house, review your current spending and loan commitments. A mortgage lender will use a ration of about 30% of gross income as the amount of mortgage you can carry. If you review your finances beforehand, you will have a good idea of your own capacity. Property tax is an additional cost that must be factored into the equation. 
Once a price range for your prospective home purchase has been settled, the next step may be locking in a mortgage interest rate with a pre-approved mortgage. When you know you are already approved for a mortgage, this will increase your comfort level at the negotiating table. To arrange a pre-approved mortgage, you meet with a lender who will confirm your borrowing capacity, perform the required credit review and make an agreement to honour a particular interest rate for a specified time.

Existing Mortgage

If there is an existing mortgage on a property you are selling, or on the one you are looking at, there is more to consider than the balance outstanding and the interest rate. Be aware of any pre-payment terms. If your mortgage is open, you can repay it at any time without penalty. However, your lender may have "lock-in" clauses. These may include payment of a bonus or the lender's interest revenue loss for the balance of the term should you repay early. Clarify all of this with your lender.

Portability

One very important feature is mortgage portability. That means you can transfer your existing interest rate, loan balance and remaining term to new mortgage without penalty, although there may be some restrictions. Be sure you understand what they are before you get into negotiations. Your REALTOR® has the expertise to help guide you through the negotiation process, keeping your best interest in mind. 


Contact me I am one of just 3 Trusted Saskatoon REALTORS ®. I am looking forward to helping you sell or buy your home! I love what I do and I take great pride in providing excellence in customer service to all of my clients. I strive to find them the perfect new place to live while negotiating the best terms and price possible.

Find Marla Janzen Online at www.marlajanzen.com   she is a Century 21 Fusion Realtor and Marla Janzen is Trusted Saskatoon Realtor

Comments are closed

Categories

Previous Posts

ADDRESS

S & E Trusted Online Directories Inc
TrustedSaskatoon.com
129 21st St E #400
Saskatoon, SK   S7K 0B2
Ph: 306.244.4150

GET THE APP

App Store Google Play
Follow us on Facebook Linked In Twitter YouTube RSS Feed
Abex
Abex
Stevies
Sabex
NEYA
Website hosting by Insight Hosting