Dear David,
We purchased our house a month ago. The furnace stopped working this week. Do we have any recourse? – Chilly

Dear Chilly,

First you need to check your Agreement of Purchase & Sale to see if it allowed for a warranty of the furnace beyond the date of closing (this is unlikely). Most agreements are drafted to include components of the home up to and including the day of closing, which is where your final walk through comes in. If the furnace is new enough, check for service stickers as there might be an existing warranty in place that could be transferred to you from the previous owners. If this is the case, your Realtor can act as your liaison.

Dear David,
If there are multiple offers on my property, how do I know which one I should take? – Overwhelmed

Dear Overwhelmed,

There are four main concerns with any offer: price, closing date, buyer requests and conditions. Although everyone jumps to the price, it’s vital that an offer be considered in its entirety. Sometimes, a higher priced offer with multiple conditions may not be worth the paper it’s written on. A conditional offer is not a done deal, rather a promise that something will happen if something else happens.

An experienced agent can help you determine the risks and rewards of each offer you receive by looking at the price first, followed by the closing date, what the buyers expect to receive (appliances, hot tub, etc.) and the conditions. Considering each of these in context will lead you to a decision with which you are comfortable.

Dear David,
I’m considering a career in real estate. What do I need to be a successful agent?

– Ready to Sell

Dear Ready,

First and foremost, be sure you can afford to be in this business for the amount of time it takes to establish yourself and build up your practise. This timeline can vary, depending on how well connected you are already. Before getting started, sit down with a seasoned professional who has worked in your local market for a long time. They can offer insight into the day-to-day nature of the real estate business. Keep in mind that what you see on reality TV is not always realistic.