When you look through the paper, you will see a number of different types of advertisements that offer Calgary Real Estate deals that sound too good to be true. Remember if it sounds to good to be true, it usually is not a good deal, and there is something hidden that they are not telling you. Remember, if you are going to get involved with any of these deals, call a Lawyer and a REALTOR to protect your interests before you sign any documents.
Here are a couple of the common ploys that they use.
Rent To Own - This is where you pay an increased amount of rent and that additional portion of rent is supposed to go to your down payment. When you have saved enough down payment you will be allowed to purchase the home. Most of these deals have out clauses for the owner that allow him to keep all of your money and evict you out of the property, if you do or do not do a certain thing. For example, in a case were you are one day late with the rent, even if they forgot to cash the Cheque. There may be some legitimate people who offer such deals, but please hire you own Lawyer to Read the contract FIRST before you sign it.
Investors Offering to Buy Your Home - for cash with no fees. These people usually pray on people in financial need. If you need cash immediately, and want to sell your home you do not need to fire sale it to an investor, who's only interest is making a fast dollar at your expense. In most cases, REALTORs have contacts who can carry you over financial until your home is sold. You need the most amount of Money from your home, so give it the exposure that will generate you the most cash in you pocket. We have both the Financial and investor contacts that will give you a fair market value for you home.
Sell your home in 90 days or we will buy it - Its True and they will buy it. This is called a guaranteed home sale, and is regulated by the Alberta real Estate Act. The Question however, is how much will they pay for it? Fair market value? I don't think so. Anyone that offers this guarantee and is buying homes for market value or above, would be going broke, plain and simple. So the guarantee price has to be less than market value so they can resell the home and at least break even after expenses. Mainly, this is offered as a way to get the phone to ring so that they can generate names of people who are interested in selling there home Very few people actually take advantage of the guarantee as the price is usually too low and of course the home will sell before then, but it makes the Phone ring, It is our office policy not to do Guaranteed sales
So please beware, if you have any Questions on any advertisements that you see or any offer that you are given please feel no cost to give us a call, if nothing else we can recommend a good lawyer to help you out.