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Year’s begins? Perhaps your local fast food joint suddenly becomes empty of all the usual regulars right on January 2nd. New Years Resolutions are a very big deal as the new year begins. They speak to our hopes, our fears, our goals, and who we want to ultimately end up as. Therefore, it’s no surprise that some people scale their plans up. Fewer people are interested in changing their diet or their exercise routine; now they want to overhaul their life or invest in property. The idea of starting your New Year off with investing in property can give you an adrenaline rush. Some people charge in and get started on the transaction right away. However, making this decision in the city of Toronto requires the advice of a real estate lawyer. Trying to handle this stressful process all by yourself is a quick way to get your new year off to a painful and potentially ruinous start. This article examines why a new year’s real estate resolution is such a popular idea, and how you can protect yourself from any risk during a potential transaction.
How The Headlines Reinforce Your Real Estate Impulses
If you look at charts and graphs, you’ll see that the highest numbers for purchasing property happen during the hot summer months. Therefore, it’s easy to assume that the winter market is ripe for the picking, as you’re getting in on a window opportunity. There are many news stories that reinforce the belief that doing your real estate purchasing in January is a smart way to beat the system. This leads to January being a slow market compared to the summer season, but there is a large influx of impulse purchases. People who purchase a home during the winter season think that they are making a limited time decision that won’t come around for another year. When a real estate agent plays on this perception, it’s easy to see how an otherwise level headed person can throw down the money for a down payment without doing the proper research first. This is not to say that you should never buy a home during the Christmas season, as a real estate lawyer can see some smart investors in Toronto manage to make this idea work to their advantage every year. There are certainly huge potential benefits to buying a home during the Christmas season, and the media is happy to encourage people to jump aboard this new bandwagon.
Is This “Opportunity” Worth the Risk?
The low prices of real estate can often be a snare that snags even experienced investors. A low price can sometimes mean you’re getting a huge bargain. Other times it can mean you’re about to pick up a property that is a money pit. Inspections, paperwork, and all of the necessary elements of a transaction should be supervised by the keen eye of a real estate lawyer in Toronto. Otherwise, you could be stepping into the financial equivalent of quicksand! Unscrupulous buyers may be sneaking their substandard property onto the market, hoping to draw the attention of a bargain hunter. You could purchase a home that has problems you never expected or anticipated. Worse of all, your investment could end up going to waste. By using precaution, you can avoid these unfortunate fates. When you pick up a piece of unwanted property in the New Year, it is extremely difficult to turn the transaction around and ‘flip’ the home. Therefore, you ought to be calling a professional and setting up your ‘game plan’.
How a Lawyer Can Mitigate the Risks of January Purchases
Finding a Toronto based real estate lawyer with a long career of experience should be your top priority. Jay Teichman is one of these experts. Located at 5255 Yonge St., Suite 800, Toronto, ON, M2N 6P4, Teichman has thirty years experience and over 10,000 successful real estate transactions on his record. For more information, you can call him at 647 476 2262. Once you are in touch with an affordable yet skillful lawyer, you can begin with the process of making your new years real estate purchase. Having someone on your side who can point out any red flags, guide you along the proper path, and help you identify problematic transactions is a major benefit. Attempting to do it alone is an admirable instinct; it shows dedication to your financial goals, tenacity, and bravery. However, when there are hundreds of thousands of dollars on the line, as well as potentially years of stress and agony, you should abandon your pride. Working with a lawyer to mitigate the risk of a January purchase can ensure that your New Year is worth celebrating.
Struggling with New Years Resolution is a common problem. It’s one thing to fumble your good intentions over a new diet or exercise routine. However, when you are thinking of investing in real estate, the stakes are much higher. A real estate lawyer in Toronto can help you mitigate much of the risk of a January purchase. It’s one thing to make a measured decision with an expert at your side, but don’t allow yourself to make a hasty decision. The siren’s song of a seemingly inexpensive investment could end up causing you issues down the road that will drain your bank account and eat up your spare time. By having a lawyer observe this transaction, you are likely to avoid any disastrous scenarios. With these few precautions, 2014 could end up being your most successful year yet!