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Survey: 1/3 of investors are unprepared for investing

The survey, published by the Real Estate Council of Ontario (RECO),   found that 26 per cent of investors wished they had a better grasp of the buying process, 21 per cent wished they had looked at more properties and 14 per cent wished they had a better understanding of the contracts involved.

Other findings include:

·         43 per cent said there were sections of the real estate contract when they bought or sold a home that they did not fully understand.

·         36 per cent mistakenly think that after a real estate contract is signed, a buyer or seller has a trial period during which they can cancel it, and an additional 33 per cent said they do not know.

·         55 per cent incorrectly believe that if you place a conditional offer on a home and the deal doesn't proceed, you automatically get your deposit back.

You need a good agent – professional realtor who knows the business of real estate buying/selling/investing..

Posted: Friday, December 19, 2014 10:28 PM by Oleh and Natalie Korchuk

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