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A consumer guide and workbook - page 26 / 79

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Kim and Win found the home of their dreams—but they thought the asking price of $125,000 was far too high. They made an offer of $90,000, with a deposit of $2,000.

The vendor rejected the offer outright, making no counteroffer.

Determined to realize their dream, Kim and Win tried again, this time with a real estate representative.

They increased their offer to $105,000 and their deposit to $15,000 so that the vendor would know they were really serious.

This second time around they got the vendor’s attention!

A counteroffer for $110,000 was returned and they sealed the deal within a week.

You’ll need input from your immediate family—“I want my own room!” You’ll get the inevitable but often useful advice from relatives and friends. And you’ll want to have a team of professionals at your service when buying your home. You decide exactly who is on your team, but there are a few professionals without whom buying a home is nearly impossible. For example, just about every homebuyer needs a mortgage, so you’ll have to find a lender. Also, it’s a practical and useful idea to have a lawyer (or notary in Quebec) to protect your interests. Friends, family or other profes- sionals may be able to refer names to you.

STEP 4 • BUILDING YOUR TEAM

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