When budgeting the cost of selling your home, you’ll need to consider real estate commission (sellers pay a gross commission, that of which is split between the listing agent and the Buyer’s agent), cleaning, staging, or prepping services, legal fees/disbursements, and potentially a mortgage penalty depending on how far along in your term you are.
As a Seller, you want to make it easy for Buyers to see your home, and open houses are a great opportunity to get people in the door in the least intimidating way. This is particularly fruitful in a hot market whereby we get as many people viewing over the weekend and then have the offer presentations on Monday. The best case scenario is that this generates a multi-offer process when more than one buyer makes a written offer.
It’s best to leave your house during an open, or private showing so that the Buyer is able to picture themselves living there (without being reminded that it currently belongs to you). Private showings typically only take 15-20 minutes. Take the time to go for a drive, or a walk and have some downtime.
I employ a combination of traditional and digital marketing methods to showcase your home in the best possible light and reach the most potential buyers. From staging to photography, newsletters to social media, we’ll distribute your home’s best features to get people to find and fall in love with your home.
Pricing strategy is crucial to get right (which isn’t necessarily the highest number). By conducting a Comparative Market Analysis we’ll be able to establish a list price that will generate the most interest when it first hits the market. This is important because many homes that start too high end up selling below market value in the end.
But, as a Certified Negotiation Expert I will use my skills to squeeze every possible dime out of the buyer.
Real estate in Greater Vancouver has a generally long season, with the slowest times being November to January. However, it is also worth noting what inventory is like at the time and what similar homes you will have competing with you. Less competition may be a huge advantage for you, but timing and strategy is something we can discuss together.
The homeowner’s dilemma. It all comes down to your own personal circumstances, much of which are financial. You should think about ‘worst case’ scenarios when choosing to buy or sell first, and figure out which decision is most livable for you and your family. You’ll find this blog post helpful in highlighting some of the most common situations.
Yes, as a first-time Buyer you may be eligible to have an exemption of the property transfer tax. There are partial exemptions, but to qualify for a full exemption you must:
- be a Canadian citizen or permanent resident;
- have lived in BC for 12 consecutive months before the date the property is registered; or
- have filed 2 income tax returns as a BC resident in the last 6 years;
- have never owned an interest in a principal residence anywhere, anytime; and
- have never received a first time home buyers’ exemption or refund.
When you have found the home you would like to settle down in, we need to make and present our offer by completing a Contract of Purchase and Sale document. There will be many terms and conditions, or “subjects”, that will be written into your Contract. These conditions might include: purchase price, deposit amount, home inspection, property disclosure statement, title search, or strata documents – to name a few. We will list all your terms and conditions and negotiate with the Sellers where necessary.
Yes, however, to avoid a conflict of interest it is vital that you inform the Listing Agent that you are working with a Realtor. Remember, the Seller’s goal is to get the highest price. Your goal as the Buyer is to get the lowest price. To make sure you’re in the best situation for yourself, and the most protected – hire me as your Buyer’s Agent to represent you and only you.
As soon as we narrow down a search criteria I will create an automated search for you on the Multiple Listings Service (MLS). You will be instantly notified via email when a new property is listed that meets your requirements. Do you already know what you’re looking for? Set up notifications right here.
I can’t stress enough how important it is to get a mortgage pre-approval BEFORE you start searching for a new home. A mortgage broker will find you the best rate and mortgage package to determine how much you can afford.
Pre-approval also allows you to lock in and hold your interest rate for 90-120 days. In a market where rates are rising, this is a huge advantage that will benefit you by lowering your monthly mortgage payment. Furthermore, pre-approval works as negotiation power when you put in an offer as Sellers will feel confident in accepting knowing that you have the ability to obtain financing.
That’s a tough question because buying doesn’t always follow the same seasonality as selling. With buying, it’s more about the market, prices, and rates around specific search criteria than it is about seasons. It’s always best to discuss what timing and strategy is best for you with an experienced real estate professional.