Sellers
Probate on Estate Sales
Did you know you need a certificate of probate to buy an estate sale? If probate is not complete, it could take months before you’re able to close. On the flip side, if you have an estate property to sell, make sure you try to get the certificate of probate before listing to allow for a more seamless sale and closing process.
Best Renovations to do Before Selling Your Home
It can be overwhelming to decide what to do with your home before you decide to sell. While there is never a guarantee of return on investment for updates/renovations, but there are some renovations that are more investment savvy than others. Consider updating the kitchen, bathrooms, cabinets, or even just a fresh coat of paint.
What to Expect on Closing Day - Estate Sales
Estate sales tend to be a bit more complex than a regular home sale. In this case, there was a delay in getting the certificate of probate, a difficult agent on the buyer side, and managing a property that was vacant with out-of-province sellers.
Choosing a Closing Date
Choosing a closing date can be hard, lots of options to choose from, but there are two that you should NEVER pick. First, you should never close on a Friday. Why? If anything happens and the closing date needs to be pushed, rather than delaying it by one day, it would be pushed until Monday at the earliest. Second, you should never close on your purchase and your sale on the same day. Why? If you are relying on the funds from your sale to close on your purchase, any delay with the closing of your sale would force the closing of your purchase back
Hire an Agent Who Can Communicate
Hiring a listing agent who cant/doesnt communicate with buyer’s agents can be a huge obstacle in a balanced/buyers market. Despite receiving 4 offers on offer might, this condo was re-listed the next day at the same price with no offer date - and was advertising false information in the listing.
Do Homes Sell Themselves?
A common phrase in Toronto is that "homes just sell themselves" because we have spent so long in a strong seller's market. While in some markets, one could argue homes theoretically sell themselves, when you are in a market that is relatively balanced or a buyer's market, having a good listing agent who will assist with staging and marketing make a HUGE difference.
What is a Reverse Mortgage?
A reverse mortgage is a great option for seniors who want to access the equity they’ve built in their homes without having to sell. A reverse mortgage allows homeowners to pull equity out of their home without an obligation to make regular payments.
Does Staging Make You More Money?
So many people claim that houses sell themselves in busy markets like the Greater Toronto Area. While your home may still sell even without any good marketing and staging, it is a tried and true fact that putting in the effort in presenting your home will yield you a higher sale price. In this case, the sellers got 2% more than an identical unit purely because of how it was presented and marketed.
Listing Preparation - Hard Loft Edition
Preparing for a listing at Stockyard Lofts in Toronto. This NYC style loft conversion is the perfect blend of industrial chic and mid century modern styles. The loft had been fully renovated with all Viking appliances, granite counters, reclaimed barn board flooring, and custom closets. This condo was so unique that we received multiple offers within a week and sold for a great price relative to the comparable sales in the building.
Listing Preparation - Condo Townhouse Edition
Preparing for a listing can take a long time depending on how much work there is to be done. But one key aspect of the preparation phase is going and doing a final walkthrough once the staging has been done to make sure the property is ready to be listed on MLS. Dropping off marketing materials, adding note cards around the property to highlight key features, and doing a quick vacuum/sweep if necessary are important pieces of the process.
Selling in a Down Market
Nobody wants to sell when the market is down, but sometimes life happens and you have to sell. Actively marketing your property is so important. Just because the market is down doesn’t mean you should investing in your listing, in fact this is the time to put in everything you've got.
Closing Preparation - House in Leslieville
Closing preparation can vary from home to home depending on what is in the contract and whether or not the seller is still living in the house. In this case, the seller was out of province so closing prep required an extra set of hands. Dropping off labelled keys, throwing out any garbage left behind from the listing, and doing a quick vacuum/sweep is always useful in the days preceding closing.
How Does High Inventory in Your Condo Building Affect You?
If you are trying to sell a condo but there are a lot of other units for sale in the building, what can you do? When there is a surplus of inventory in a condo building, people often think that there must be something wrong. Addressing that concern and making your listing stand out against the others will be hugely helpful in trying to sell. Whether that is by price, incentives, marketing, or something else.
Should You Move Out of Your Home When Selling?
Whether or not you should move out of your home while its on the market really depends on the market you are selling in. While its always ideal to vacate the house while its on the market so it can be maintained in it's pristine and staged condition, if you are selling in a slower market, it may not be possible for you to move out. On the flip side, if you are selling in a strong seller's market, it is best to move out of the home while it's listed as you will likely have non-stop showings and sell within a week or two.
5 Ways to Make Your Listing POP!
Boosting the value of your home before you sell can be much simpler than you'd think. A fresh coat of paint, recaulking, and tidying up your curb appeal can go a long way, especially in a slower market.
Higher Conditional Offer or Lower Firm Offer?
If you received multiple offers on your property and the highest offer was conditional but there was a lower offer that was firm, what would you do? There are pros and cons for each. While you may be leaving money on the table with the lower offer, at least you know that in that moment the deal is firm. While, with a conditional offer there is a risk that the buyer backs out and you are back to square one. This often depends on the seller's motivation and their risk tolerance.
When Realtors Don’t Show Up For Their Appointments
Realtors are notorious for arriving late to showings or not showing up at all. But, did you know that not showing up to an appointment is a fineable offence? If a Realtor does not enter the property during their scheduled appointment time, you can file a complaint with RECO, the Real Estate Council of Ontario, and they will be subject to a fine and required to take a course.
The Little Things
Do yourself a favour and hire a listing agent that pays attention to the little things, not one that forgets to hide or remove the Winners tags from their staging furniture. It just makes you wonder, if they are missing something that buyers will easily spot, what else are they not doing?
Should You Finish Your Basement Before You Sell?
Finishing your basemet is one of the best renovations to do before selling your home to boost your return on investment. It increases the useable living space and can be very attractive to prospective buyers, especially if the basement has a seperate entrance and you can convert it into an apartment. After all, nobody likes a creepy, cob-web-filled, mouldy basement.
What is Curb Appeal and Why Does It Matter?
Curb appeal is essentially how attractive your house looks to a potential buyer from the sidewalk. It includes the condition of the exterior of the house, the landscaping, the porch, etc. Curb appeal is so important because it is the first impression a prospective buyer gets when they visit the house. If the curb appeal is poor, it may completely disinterest them from the house and skew their opinion.
When is the Best Time to Sell Your Home?
No, not what time of year is the best to sell your home. When is it best for YOU? Deciding to sell your home is not a decision that is taken lightly. There are plenty of life factors that play into the decision. Perhaps you are expanding your family and want to upsize into a larger property. Maybe you got a new job and want to move closer to work. Or maybe you're just someone who likes a change every few years. Ultimately, the best time to sell is when it's best for you.
Differences Between Selling a Condo and a House
There are so many differences when you sell a condo vs a house. Finding space to store your furniture and belongings when selling a condo can be harder, since you don't have a basement or a garage. While when selling a house, you have to worry about shovelling snow in the winter and landscaping in the summer. Regardless of when you decide to sell, make sure you hire an agent who can walk you through everything that needs to be done and help you achieve succcess.
Don’t Overupgrade Your Home
Before you invest a ton of money into your home (for the sole purpose of selling), make sure you determine whether it will be money well spent. If you aren't going to at minimum break even on your investment, there is no use in spending the money or time on a renovation.
What Stays In The House After You Sell?
What do you get to keep when you sell your home and what stays for the next owners? This is ultimatlely up to you. Typically, anything that is affixed to the house (for instance your HVAC system or a shelving unit) would stay unless otherwise specified. Anything that is not affixed to the wall, including aplpiances, are assumed to be taken unless specified in the purchase agreement. Typically appliances, light fixtures, and curtains/blinds are left behind, however make sure you note anything you wish to keep before listing to ensure it doesn't accidentally end up as an inclusion.
Should You Take a Bully Offer?
What are the benefits of accepting a bully offer? The purpose of a bully offer is to be so strong that it entices you to review or accept offers before the scheduled offer presentation night. If you receive an offer that is far below the estimated value of your home or with terms that are unfavourable, perhaps its not a good idea to accept it. Whereas if you receive an offer so good that you don't think you'll see it again on offer night, it may be worth serious consideration.
Do You Want to Compete Against 5 Comparable Homes?
If you ask anyone when the best time to sell is, they'll probably say Spring. But is that really the best time? The downside of listing in the spring is that everyone else is thinking the same thing. Which means inventory increases and you are more likely to be in competition with properties that have similar specifications. This of course depends on several other factors including what the market conditions are, but inventory levels are always something that should be considered when looking at selling your home.