About Ottawa's Barrhaven

You are looking at a wonderful home. There is concert music being sent everywhere in the house. How wonderful that the owners have wired the home for sound in every room. Wait a minute. Is that music disguising something? Make sure that you do a bit of research before putting in an offer.

• Is the home located close to the airport?
• How about the commuter train lines?
• Can you hear the 417 from the living room? Guess what will happen in the spring when you want to sleep with the windows open. Won't be done.
• Is there a school yard close by when recess will interrupt your afternoon nap time?
• How about the future development of the acres of farmyard behind the house?
• The river property may not be so tranquil if every day in the summer people are whizzing by in their motorboats.
• Is this a new family friendly neighbourhood? Don't be surprised with the kids playing on the street and balls hitting your garage door at frequent intervals.
• Hey, do the neighbours have a pool? How nice for them but what about the pool pump located right behind the fence from your deck? Will these neighbours be playing in the pool at 11:30 at night? Good if you are invited and not so good if you are trying to sleep for work the next day.

Look at Google maps to see how close the house is to what may be noise pollution. Do some research on the housing development being planned in the area. Think about the level of privacy and quite that you personally need and take this into account with the location of your next home.

Sometimes you have to be leaving in a jet plane.

Photo credit: IMGP0664

You are looking for a home in Ottawa. You look on the MLS®. You visit Open Houses and you check the sites for people who sell their homes on their own. Among the options are The For Sale By Owner (FSBO) homes. You are want to know more about these homes:

Pros:

• Maybe the Seller doesn't know current market values and the house is cheap.
• Maybe the Seller has priced the home low because they will not have to pay real estate commission.
• Maybe the Seller is not a savvy negotiator and you can use your skills to low-ball an agreement.
• Maybe the Seller has a lot of home selling experience, knows values, has a good lawyer to do the contracts, has time to show and sell the house and will be fair about negotiations.

Cons:

• You think the Seller will be passing the real estate commission saving on to you, the Buyer. That is seldom the case. The Seller is doing it on their own to reduce their own costs, not yours.
• Maybe there are problems that a listing agent would have forced the Seller to disclose.
• Maybe the Seller is hoping that the Buyers will be on their own (no real estate rep to help guide the purchase), be naive and pay over value.

If you are buying a home, it is in your best interest to be cautious about buying a FSBO. Not that you shouldn't buy one but that you take your time and do your homework. Make sure you have an inspection done. If you do not have a real estate representative working with you, you may want to invest in having an appraisal of the home done. Your mortgage lender may require an appraisal when they realize that it is a FSBO. You will want your lawyer to be much more involved, including preparing the offer and helping you set your conditions for purchase and possession.

FSBOs for Buyers and Sellers are sometimes the best options. If you start having concerns as a Buyer, I highly recommend that you work with a REALTOR® who will help you through the buying process and help determine what is a fair market value for the home. FSBO Sellers may offer to pay the Buying Agent a commission. If not, you may find that you are paying the commission to your agent. In almost all cases, it will be worth your money and your peace of mind to engage an agent to assist you in the process.

If you are uncertain about buying, get professional help.

Photo Credit: For Sale By Owner @ http://www.flickr.com/photos/trommetter/29782314/