Buy or not to buy? Thousands of tenants are faced with the issue when their homes are converted into condominiums. One in three would like to buy, two out of three say no, according to a survey.

If those living in your house formed a housing association and were offered to buy the property, would you like to buy your apartment? This question was asked for approximately 1,000 members of the Tenant Association.

Answers vary with age. Half of those who are 35 years or younger would like to buy their apartment. It also depends on where you live. If you’re looking for Real Estate in Yorkton SK it is much different. 

Metropolitan people are more positive than those in smaller towns. Those who rent private wards are more incubator than those living in municipal housing companies.

The issue is becoming more and more current. Only in the metropolitan areas, over 52,000 tenants have been homeowners in the 21st century and many new transformations are under way.

Profitability is also the main reason for those who want to buy their apartments. But such reasons do not matter to many. Many say it’s a good investment, but if you do not want to move you will not win and we do not live here to make money.

The second heaviest reason in the survey, that you get more influence over the accommodation, is also not so important to them. Even as a tenant you can do much for the interior if you want – and you do not have to take care of the property. “We do not have much contact with the neighbors, and I do not feel attracted to weekend weekends and to go out and hang out,” said one person in the survey.

 

– Are there any people who think that they are going to make a lot of themselves, or will they buy the services?

There are many question marks. Many are doubtful, but not sure that they are saying no.

“If the price is good and people know what they’re talking about, maybe we’ll buy,” says one tenant.

“You buy not only your apartment, but your and your neighbors’ house, along with them. The shared responsibility can imply both opportunities and problems, “says consumer counselor Margaret Shapiro.

She is responsible for housing issues in a new condo association, where many rental rights have been converted into condominiums. She has had contact with many who are reluctant to buy or have had problems after a conversion.

 

Margaret Shapiro thinks it is important not just to think about the economy, but also on what neighbors one has.

– Is there any competence within the association to own and manage a house? A lot of members are required: to be able to run a board, to have legal, financial, management, procurement and so on. And you will have time and will and be able to get along.

One should ask if you want to own your house and basically start a management company with your neighbors.

For example, if the roof needs renovation, do you have the same view of when and how to do it?

 

– A common conflict of interest is that the younger think more short-term. They want to make money and move on, while the elderly want to invest more in the long run. Therefore, it is important to read all information, attend all meetings and ask questions.

Those who work for a conversion may not have the same management ideas as you. The bank can help review the association and your finances. “You need a different economic buffer than if you rent,” says Margaret Shapiro.

 

Facts: Think about before you do buy

 

  • Do I want to own and manage a property with my neighbors?
  • Should major renovations, tribal swaps or similar be needed, and if so, can I stay in the meantime or arrange an evacuation apartment myself?
  • Do I manage the economy? Bring all the documentation to the bank, ask for an assessment and cost of living.
  • Do I have an economic buffer, maybe $ 20,000, if anything in the apartment breaks?
  • Can I manage to stay if I get sick or unemployed?
  • Will the apartment be sold if I want to move
  • Do I want to be a tenant of my neighbors if I do not buy?

Most common reasons not to buy:

  • Do not get loan 3%
  • Does not like the apartment 5%
  • Does not like the situation 5%
  • Do not want for ideological reasons 10%
  • Can not afford 23%
  • It is more comfortable to rent 34%
  • Other reasons 19%

The most common reasons to want to buy:

  • Do not want to live with the neighbors 5%
  • Children and grandchildren inherit the residence 6%
  • Get more influence over the accommodation 33%
  • More profitable to own 46%
  • Other reasons 11%
home selling tips

I Plan To Sell My House. What Should I Do?

The first step is to choose the real estate agent (s) you want to get in touch with. Then they should make a valuation of the home you are going to sell. Once you’ve met the broker / broker you decide who to choose.

What Does Choose A Value Of My House?

If you are to sell your home, the valuation is usually included in the intermediary assignment. If, on the other hand, you need a valuation for another purpose, usually a cost varies from broker to broker.

How Long Time Does It Sell My House?

How long it takes to sell a home can vary widely. It depends on what you are selling and where your country is located. Consult your local broker in your area. After selecting a broker, it does not take many days before the sales process can commence. However, the broker needs time to complete the work required before the home can be advertised.

What Should I Pay In Fees?

Brokers usually work on commission. This means that if the broker does not sell your property, the broker will not pay for the work being completed. Far from all homes is sold why the broker always has to count on this in his work.

What the brokerage cost costs depends on which broker you hire and in which area you live. Ask what’s included in the brokerage service and compare it to the price. Often it is possible to negotiate the brokerage fee.

Where Should I Advertise The City?

The broker you choose to hire knows what’s best for you in your area and where you find your customers. Therefore, listen to the broker’s proposal and, if you have any, have your own wishes.

When the broker delivers a home, best results are achieved if the broker and the seller have a good cooperation and open dialogue.

I Have Written An Agreement With A Property Matter, How Lender Is Applicable?

A mediation assignment usually for three months with exclusive rights and then continuing until further notice, often with ten days’ mutual notice period.

The exclusive right means that the broker is commissioned if the property is sold under exclusive rights, even if it is not sold to a speculator specified by the broker. Solvency is also beneficial to the seller as well: because the broker knows a commission always expires if the property is sold during exclusive rights, he or she dares to deduct more marketing resources. However, you are never obliged to sell the property.

Can I Show The Building Without Furniture?

There is no requirement that a property to be sold must be furnished. It depends a bit on the properties of the property if it is to the advantage or disadvantage of the accommodation. Discuss this with the broker and you will find the one that suits you best.

Do I Must Show Images On My Home When I Should Sell My House?

There is no compulsion that you have to show pictures on the property when sold. But images are often important to attract speculators. Usually more speculators are attracted to the view and the opportunity to get a higher purchase price increases.

I Do Not Want To Ask It As My Home, Must I Do It?

Having an open view is no requirement. You can also only have private views, where only one or a few speculators can access at a time. Discuss this with your broker and you will find a solution for your home. You can also have an open view but with a pre-notification. Then the real estate agent and the seller know before seeing what speculators are coming.

The Maker Would Have A Money Set In A Client Summary, Is It Safe?

It is common for the buyer to pay a deposit of ten percent. If the purchase contract is not definitively binding already when the contract is signed, it may be subject to a so-called inspection clause or that the buyer is approved as a member of the housing association, the broker will recommend that the deposit be deposited at the broker’s client funds account.

In a client agent account, only customers’ money is available. This means that the money is protected if the broker is to be bankrupt or subjected to foreclosure.

I Have A Maker That Does Not Listen To Sell My House, Now, I Want To Change Maker, But Do Not Risk To Pay Dubbla Provisions. How Should I Do?

Submit the assignment with your real estate agent and request a confirmation of termination. When the broker submits a confirmation, he must also submit a speculative list. The list is a list that customers as the broker showed the housing for and which the broker considers to be entitled to commission if any of these would buy the property.

Leave the speculator list to your new broker and explain that you had a previous broker. Your new real estate agent is obliged to act in accordance with good estate brokerage so that the risk of double commissions is eliminated.