What is your tolerance level? First time home buyers -- what is your tolerance level? For this I mean-- what will make you walk away from the deal?
After competing with an offer, and winning, you are now privy to strata documents, contingency funds, financial statements, building inspection report. Your offer to purchase will have terms such as a subject to a home inspection. You will have to decide what your tolerance level is, in terms of a dollar figure. If your tolerance level is $5000 and anything that exceeds that amount makes you 'walk away' from the deal, then you must determine beforehand, with yourself, and with your Realtor what that number might be.
Discuss this beforehand with your Realtor and give yourself ample time to think about it.
For more tips and information on home buying, attend one of our yearly seminars. Go to www.vancouverfirsttimehomebuyer.ca or Email me at email@example.com or TEXT (604) 764-6873 for updates on home buying and selling seminars throughout the year.