What do you do when you find issues during home inspections?

Are you considering a variable-rate mortgage or buying a home in Victoria, BC? In this episode of the Greater Victoria Real Estate Show, we explore two important topics for homebuyers, homeowners and sellers.First, Jen explains how a fixed-payment variable-rate mortgage works. These mortgages can provide the budgeting certainty of a consistent payment while allowing borrowers to continue paying down their mortgage. We discuss what happens when interest rates rise or fall, how payment allocation can change and what borrowers should understand before selecting this type of mortgage.We then look at what buyers can do when a home inspection uncovers deficiencies after an offer has been accepted. Should you ask the seller to complete repairs, negotiate a price reduction, request different terms, obtain additional inspections or proceed with the purchase as written? We discuss how the seriousness of the issue, the wording of the inspection condition, the strength of the market and the buyer’s comfort level can influence the strategy.Whether you are buying, selling or financing a home in Greater Victoria, this episode offers practical guidance to help you make informed real estate decisions.