Dont bite off more than you can chew!
Regardless of motivation to sell privately or not- it is the sheer size of the transaction within ones financial portfolio- that should be reason to pause and fully take stock. In taking on something so financially substantial- there comes an inherent presence of risk- and that is why, at the very least, the transactional component of sales process cannot be left to amateurs. Risk, however, can be mitigated by education and access to information. Leclair says that size does matter. And that you need tools- or support- to eliminate problems before they even begin. Because this is one of the largest, and therefore riskiest, financial decisions many people will ever make, Canadians should seek expert advice early on in the process in order to ensure that they have access to all the necessary information in a timely fashion. Real estate, although often perceived to be a common transaction, is a very involved and a problem-prone process. The TitlePLUS program has advocated for years that a person should have all the information about the property and the real estate process before committing themselves to a deal, in order to make informed decisions and properly protect themselves. This becomes more crucial if someone is considering proceeding with a private sale. Leclair, then is not necessarily advocating the type of service- he is advocating for advice- and for its place in due diligence- which is a consumers best ally in protecting their interests- private sale or not. We are not advocating any one option, but simply encouraging anyone interested in buying or selling to educate consumers to do so and protect their interests is to consult a real estate lawyer early in the process to better understand their options and the ramifications of choosing one over the other; to then properly plan for the exercise. Like so many things in Real Estate, it comes down to strategy- and to the execution of it; The success of a real estate transaction increases when it is well planned, the potential issues are identified and provided for and the proper parties are brought in when required.
Weigh all the facts...Part 3