Thursday, June 25, 2015

Top Legal Mistakes to Avoid

The process of buying or selling a house seems to involve a million details. It is important that you educate yourself on as many parts of this process as you can this knowledge could mean the difference of thousands of dollars in the long-run. The legal issues involved in the process are often particularly intricate, ranging from matters of common knowledge to subtle details that might escape the untrained eye. Any of these issues, if not handled properly, could develop into larger problems.With so many legal issues to consider, your first step should be to seek out experienced professionals to help educate you and represent your best legal interests. Begin with an experienced real estate agent, who can help
guide you through the initial hoops. S/he should also be able to point you in the direction of a reputable local real estate lawyer to assist you in all legal matters involved in the purchase or sale of your house. While there are countless legal details involved in a real estate transaction, some seem to pose larger problems than others. We’ve outlined two legal clauses that are commonly misunderstood and may cost you money if not worded correctly. Handle these carefully and you will be on track to a successful sale or purchase!

1. Home Inspection Clause

Some real estate transactions have been sabotaged due to the wording of the home inspection clause. This clause originally allowed that the buyer has the right to withdraw their offer if the home inspection yielded any undesirable results. However, this allowance was known to backfire, as Buyers took advantage of it, using some non-issue stated in the inspection as an excuse for having changed their minds. Of course, this was unfair to the Sellers, as they’d poured time and money into what they 

believed was a sure deal. Not only might they have missed out on other offers in the interim, but their house might also now be unfairly considered a “problem home.”Additionally, they’d now have to shoulder the costs of continuing to market the property. All of this adds up. In order to remedy this potential problem, the clause should indicate that the seller has the option of repairing any problems the home inspection might point to. With this slight change in the clause, both buyer and seller are protected. To ensure this clause is fair from one side of the bargain to the other, work closely with a lawyer experienced in these transactions and all the nuances that may affect the outcome for you.

2. Survey Clause

It is the right of a home buyer to add a survey clause to the real estate contract on the home they’d like to purchase. If you are on the selling end of the contract, be aware. If you have added an addition or a pool to your property since the last survey was produced, your survey will no longer be considered up-to-date and the Buyer may request that a new one be drawn up—the cost of which you will incur. The price of this process will run anywhere from $700 to $1000. Your real estate agent has the 
responsibility to provide you with the most recent survey of your home. It is then the Buyer’s right to decide if it is acceptable. An experienced agent should offer you reliable counsel if you encounter an issue with this clause, but it is advisable to talk to your lawyer if you’re unsure at all of the potential ramifications involved. Remember, the wording of this clause could cost or save you thousands of dollars.

 I am the GUY that will make a difference!

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake. 


Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001 
http://www.connectwithkaren.com/



Wednesday, June 3, 2015

Just Listed! Amazing 3 bedroom family home in Rose Valley

Your “home sweet home” awaits. Priced under assessed value, this 3 bedroom plus a den, 4300 sq.ft. 3.5 bath home is a must see! Situated on a quiet cul-de-sac on the Westside of Kelowna in the sought after area of Rose Valley, this .60 acre property will check off a lot of boxes. In ground salt water pool, triple car garage (with 10 foot ceilings), gourmet chef’s kitchen with island, hickory hardwood flooring on the main level, and a panoramic view of the lake! This is a real family and entertaining home. A grand entry and foyer welcomes you to the main living floor where you will find separate living room and dining room and a family room off the kitchen. Entry to the home from the garage through the breezeway makes delivery of groceries a snap. Situated within walking distance is Rose Valley Elementary and the Rose Valley Regional Park and its' extensive trail network. Imagine hiking to the top and once there viewing the whole Okanagan Valley and the lake, all the while knowing you can come home and take a dip in your very own in-ground salt water pool... now that's the lifestyle I'm talking about ~ simply heavenly. It really can't get any better than this! The unequalled privacy of this property is not something you find every day. This is a must see. 

For more details & photos & virtual tour go to www.connectwithkaren.com ; call Karen Guy, Coldwell Banker Horizon Realty, 102-3480 Carrington Road, West Kelowna BC V4T 3C1 at 250.878.3605 or 250.768.8001. MLS 10100557











I am the GUY that will make a difference! 

I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.

Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
 C 250.878.3605 O 250.768.8001
 http://www.connectwithkaren.com

Kelowna Real Estate Agent West Kelowna Karen Guy Realtor