Start searching before reviewing your financing
Speak with a mortgage professional early. A pre-approval can clarify a potential budget, but it is not a final lending commitment. Budget for closing costs and ongoing ownership expenses as well.
Judge a property only by its appearance
Fresh paint and stylish finishes are appealing, but consider layout, maintenance, mechanical systems and the condition of the building. Look beyond staging when comparing homes.
Skip the opportunity for a home inspection
A qualified home inspector can identify visible concerns and recommend further specialist assessments. Discuss inspection conditions and their implications with your REALTOR® before writing an offer.
Sign an offer without understanding the terms
Review deposit, financing, inspection, inclusions, deadlines and possession provisions. Ask your REALTOR® and lawyer to explain anything unclear before you commit.
Base your offer solely on the list price
Compare recent relevant sales and account for condition, location and competition. A list price is a marketing decision, not an independent valuation.
Overlook the neighbourhood
Explore commute routes, amenities, nearby development, parking and the character of the area at different times. Winnipeg neighbourhoods can vary substantially block by block.
Leave insurance until the last minute
Contact an insurer early enough to understand coverage, eligibility and any property-specific concerns. Your lender may require proof of insurance before possession.
Use the same negotiation strategy for every property
A low opening offer is not always the best tactic. Market conditions, the seller’s priorities, conditions and closing dates all affect the strength of an offer.
