Mario Daniel Sconza Buying, Selling & Investing System
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FREE REPORT: Legal Mistakes To Avoid When Buying Or Selling A Home
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"When such a major investment is transferred from one
party to another, even the subtle legal details need to be taken care of. If not
they can turn into major problems if handled incorrectly."When you're buying or selling a home, there are many important legal
issues, large and small, that you should be aware of. To begin with, residential
real estate is not an uncomplicated process. When such a major investment is
transferred from one party to another, even the subtle legal details need to be
taken care of. If not they can turn into major problems if not handled
correctly. It is essential to be as informed as possible in order to properly protect
yourself in the process of buying or selling a home. There are several issues
that will certainly cost you if you are not properly informed. In this report,
we identify 3 of the most common of these issues. Because there are many legal issues to consider, your first step is to
consider choosing reputable and experienced professionals to represent your
interests. When selecting your real estate agent, ensure that you find someone who
has extensive experience with the process. They should also refer you to a local
real estate lawyer who can ensure your interests are protected.
3 Legal Issues That Could Cost You Thousands
Following are 3 common examples of legal clauses that can work to your
disadvantage if not worded correctly:
1. Survey Clause
Home buyers have the right to add a survey clause to the real estate
contract on the home they wish to purchase. When this home is yours, you should
be aware of the implications of this clause. Your current survey may no longer
be up-to-date if you have had a swimming pool built, or an addition added, since
the survey was drawn up. If your survey is not up-to-date by these standards,
the buyer may request an updated survey. The home seller may be required to bear
the cost to have a new survey prepared. The cost for this process typically runs
anywhere from $700 to $1,000. This is $700-$1,000 less that you will net for
your home. An experienced real estate agent should provide you with a survey and it is
up to the buyer to decide if the survey is acceptable. Your agent should be able
to advise you appropriately when dealing with this issue, but if you or your
agent are unsure, you have the right to consult your lawyer before you sign the
offer. Don't be afraid to take this important step, as thousands of dollars
could be riding on the decisions you make at this point.
2. Home Inspection Clause
Some real estate transactions have fallen through because of the wording of
the inspection clause. This clause previously stated that the buyer has the
right to rescind their offer if they were dissatisfied with the outcome of a
home inspection. In some cases, this was used unfairly against the seller when a
minor repair issue would give the buyer a legal loophole to their change of heart.
Meanwhile, the seller lost both time and money because of this technicality.
First, they may have declined other offers (offers which may now be lost
for-ever) in favor of the one which has now fallen through, and missed the
opportunity for other offers which might have come through during the current
negotiations. Secondly, their home may have been unfairly labeled as a
"problem house" which could cost them in terms of the dollar amount of
subsequent offers. And thirdly, they then found themselves back on the market,
incurring the inconvenience and additional carrying costs of having to market
their property for a longer period of time. This clause should read that the seller has the option to fix any items that
the home inspection flags. This wording protects both the buyer and the seller.
The buyer is assured that the home they are buying meets objective structural
standards, and the seller is protected against the whim of a buyer who changes
his/her mind. Not all contracts will be written in this way. Make sure you are working with
a lawyer experienced in real estate matters to ensure your interests are
protected.
3. Swimming Pool Clause
If the home you are buying or selling has a swimming pool, there should be a
specific legal clause which addresses this costly item. Some contracts are
written to provide a warranty to the pool to survive closing. The broadness of
this wording protects buyers, but is not necessarily in the best interest of
sellers who might instead request that the clause be worded to indicate that, at
the time of closing, they believe the pool to be in good working condition. The existence of a pool in any home negotiation is certainly reason enough to
ensure that you seek advice from a real estate professional and obtain legal
counsel so that your interests are represented properly. By being aware of these and other legal issues, and by seeking advice from
an experienced real estate professional and obtaining legal counsel, you can
protect yourself against unnecessary cost and potential hardship.
I'd like to start off by congratulating Mario for putting together a great team.
Positive: Professionalism, Quality, Responsiveness, Value
I'd like to start off by congratulating Mario for putting together a great team. We had been looking for about half a year, and never thought how much having a good real estate agent could benefit us during a purchase. we are a family of two working professionals and I work in the construction industry. During our search and monitoring the ever confusing housing market we were skeptical at first, whether or not to buy a property or keep renting, we were then introduced to Mario Daniel and his team and our first session was about deciding whether or not we should even make a purchase. After bringing all our concerns forward Mario patiently addressed them and took us through the process. We were sold from that point on. Mario and Domenic supported us patiently and positively during our search for property (I should say that we had many precise criteria on what we want). They helped us narrow down our criteria and get a good sense of our options that match our money. For any buyer I would suggest them to make their expectations clear so that the agents could help them better. Domenic had a lot of role in helping us through this process. However don't expect to get a home for half the price because if such thing was true everybody else would also be looking for that. Also try to help your agent to help you. Try to proactively search for your desired home and communicate with your agent. The main part about our experience with Domenic and Mario was that we had a pleasant journey towards our purchase and that goes a long way. Home purchase in itself could be a tough task, and if you don't have good advice on your side, that would make it twice as hard. Domenic diligently negotiated on our behalf and I believe the combination of professionalism and goodwill helped us become home owners. We managed to purchase a place that we could truly call our home at an optimum price, thanks to Domenic's negotiation skills, and we definitely owe this to the efforts of Mario Daniel and Domenic and their team. They helped us throughout the process of closing and securing a mortgage as well and this was a great relief on our end, since we are very busy with day to day work. I think overall Mario, Domenic and the rest of their team have your best interest at heart and this is very comforting. Also I believe Mario Daniel Sconza and his team take pride in their work and are great professionals that you can trust without worry. I have developed a lot of respect for this team and I would suggest anyone who asks me, to work with this team without a doubt and I plan to do the same in the future. We wish them prosperity and will miss them greatly now that this chapter has come to an end.
Pouya Sharif
This is the 3rd time we've used Domenic from Mario Daniel Sconza Real Estate team to buy and sell our home.
This is the 3rd time we've used Domenic from Mario Daniel Sconza Real Estate team to buy and sell our home. Each time, we have been more impressed than the last with the turn-key approach and professionalism that surpasses the industry standard. The team's number one goal is to make you feel at ease through the process and you do. Domenic as an agent is very knowledgeable on all aspects of buying/selling homes, and his expertise is critical in 11th hour crunches and DOES NOT DISSAPOINT. (He will fight for you to get your dream home until the wee-hours of the morning or ensure you get the absolute top offer - because thats what he does best!) -Heather Scriver
I'm confident you will be impressed with how he stands out, and can help you do the same in your real estate goals!
Positive: Professionalism, Quality, Responsiveness, Value It has been my pleasure to have known Mario personally for several years - his commitment to delivering superior results to his clients is more than the vast majority of agents in the GTA. It matters to him what happens in the purchase and sale of your home! He has worked hard to find the best proven practices throughout North America and apply those for the benefit of those who work with him. He believes in them so much he is willing to guarantee their success! If you are considering a sale or purchase (or even one of each), you owe it to yourself to review Mario and how that compares to what other agents can deliver to you. I'm confident you will be impressed with how he stands out, and can help you do the same in your real estate goals!
