Put the Pen Down! (What homebuyers and sellers need to know before signing on the dotted line)

Buying or selling a home has always been a special moment for a family, yet it is also one of the most stressful ordeals that a family will go through. There are a multitude of choices available to first home buyers, such as new home versus resale; city, suburbs, or rural properties; detached house, condominium, or townhouse. What is right for your family?

We have witnessed property values increase dramatically over the last several years and now we are looking at property stabilization or decrease in value as a result of the recent financial difficulties that began in the United States. It is thus even more important for both buyers and sellers, in today’s uncertain economic times, to be properly prepared and make careful decisions when buying or selling their properties. It is not just about finding the right place to raise a family, it is also about making a wise investment that will rise in value over the years to the time when you are ready to move into a different neighbourhood, whether for reasons of schools, change in family situation, friends, or employment.

Due to the fact that so much money will change hands in a relatively short period of time, and with all rights and obligations of sellers and buyers seemingly contrasted in a short two- to three-page agreement, it is also no coincidence that litigation of real estate agreements continues to rise.