I will need to get an appraisal of the property done as of the date of death Ontario Canada

New legislation in Ontario Canada requires the Executor of an estate to provide as estimate of assets.

The estate administration tax is imposed on the value of all the property that belonged to the deceased at the time of his or her death less the actual value of any encumbrance on real property that is included in the property of the deceased. It is a requirement under the Estates Act that this value be disclosed when the estate representative files an Application for a Certificate of Appointment of Estate Trustee with the Superior Court of Justice. The estate administration tax must be paid as a deposit at this time.
http://www.fin.gov.on.ca/en/tax/eat/faq.html#Q2

If you have not submitted the Application the Estate Trustee could be held liable 

Anyone who applies for a Certificate of Appointment of Estate Trustee on or after January 1, 2015, must file an Estate Information Return with the Ministry of Finance. An Estate Information Return must be received by the Ministry of Finance within 90 calendar days after an estate certificate is issued by the courts. This requirement does not apply to anyone who applied for but was not issued a Certificate of Appointment of Estate Trustee.

FINES

Estate representatives who fail to file an Estate Information Return as required, or who make false or misleading statements on the return, may be found guilty of an offence and, on conviction, are liable to a fine of at least $1,000 and up to twice the tax payable by the estate, or imprisonment of not more than two years, or both.

We can help you with an evaluation of the home in the GTA. If this is not in my direct trading area I will help you find an agent fit.

David@davidpylyp.com

http://AgentLocatorToronto.com

Let's Facetime that Listing! Can you see the Live Stream?

I asked this question and a little more detail of RECO. 

We have some significant new entries to the social media application world in the form of SKYPE and FaceTime. Both of these applications allow users to quickly and easily provide Personal Live Streaming (PLS), meaning they can start shooting video and instantly sharing it on social media.  No shooting video and uploading to YouTube/Instagram/Vine, this is an ongoing live stream complete with user interaction.  

When I book a showing do I ask permission to skype the video tour with the listing agents office?

Do I ask about taking pictures of interiors with my iPhone to send to my buyers or for record keeping? 

One source already says;

Advertise the time you will broadcast that OPEN HOUSE

Virtual Open Houses / Teasers

If you’ve already gained a large social following, then you’re ahead of the game. All you have to do is point them towards your Meerkat or Periscope account and let them know that you’ll be hosting a live ‘open house’ tour of a property. Extend this information to any of your listing pages so that whoever is interested can attend.

http://blog.resaas.com/2015/03/tech-tuesday-meerkate-vs-periscope-for-real-estate.html

I respect that with properties ONLINE views could target homes for theft.

But what about the broadcast of other people's listings on my Periscope, Facetime or Skype.

..on Twitter I could post....

I'm going to be showing you around on Saturday!  Drop in!   Can I broadcast the SHOW?

Am I soliciting someone else's client?

RECO received our request for guidance and send this response;

The marketing mediums you have described below will require written permissions and a clear understanding from both Sellers and Listing Brokerages before proceeding. If obtained then the advertising will also require prominent identification of the listing brokerage information within the stream which cannot imply it is your brokerage’s listing. I suggest you review the Registrars Advertising Guidelines and the Social Media Advertising Guide (available at reco.on.ca) to ensure that your own advertising compliance obligations are being met. In addition, there may be Privacy Act implications but RECO does not enforce that legislation. 
Thank you for contacting RECO, Glen Thomas | Complaints, Compliance and Discipline | Real Estate Council of Ontario | 416-207-4850 | fax 416-207-4820| 1-800-245-6910 | www.reco.on.caRECO's mission is excellence in the delivery of regulatory services that protect the public interest and enhance consumer confidence in the real estate profession.

There are so many rules in place; but none directly address these changing and growing technologies.

How would I brand a FACETIME display of a property walk thru?  What do you think?

Can I live stream this Listing for you as a preview?  Are you open for business or closed....

Add your thoughts....

Your Real Estate agent Earns $1,000 per hour

What absolute poppy cock!

If I was earning $1,000 per hour (better than the Bay Street lawyer who abandoned his flooded Ferrari) do you think I would be preparing your artwork and property brochures, Running to Business Depot to bind booklets and print evaluations;  Taking Video classes in editing and your virtual tours almost by candlelight?

Do you believe I would be standing outside houses on weekends presenting multiple offers?

No, but it sounds sensational doesn't it!

Do you want a recruit who license is from last Wednesday handling your real estate transaction? Well, they are on a salary.

No, You want a seasoned experienced ethical and proven agent.

Because in reality, we have talked and planned for months, painted and staged, inspected and tested, long before the sign went on the lawn.

Let's put some truth back in Real Estate.

David Pylyp
647 218 2414

Buyers Target Private Sellers because they save more!

When does it pay to go after a Private Sale or Mere Listing?

When they are negotiating for themselves..

“The average reduction from the private seller’s asking price and the price paid was 8.7% which is a significantly larger discount than the market average of just under 5% over the same period.
“Several people said that they actually targeted private sales because they knew they would buy more cheaply if they didn’t have to negotiate through a professional agent and in a couple of instances boasted that they had saved more $60,000 by buying privately.

What's the logic of that? 

“In all but two cases the buyers considered that they purchased their property more cheaply because there was no agent involved”, he said.

“When asked if they took into account the fact that the seller wasn’t paying an agent’s fee, every buyer surveyed said yes and that they expected to and in most cases did negotiate this amount and more off the price of the property.

“Several of these buyers even stated that the seller willingly offered up that they would look at a lower price because they weren’t paying an agent.

http://www.cprea.com.au/real-estate-accreditation-blog/?bp=23&nid=7717

So if you are selling and you want more; use a full time REALTOR 

David Pylyp   647 218 2414

Whisper Listings Listings for Luxury Homes

Recently a Hollywood movie star sold her house in a whisper listing.  Yes, You can have a look now at Jennifer 's House    http://variety.com/2015/dirt/real-estalker/jennifer-lopez-pocket-lists-hidden-hills-estate-1201419521/   but Toronto has more millionaires per capita than any other city in North America.  http://www.macleans.ca/news/canada/99-reasons-why-its-better-to-be-canadian/


So What is a POCKET LISTING?  Simply put, I protect your privacy.

It is a Listing that at this time the Seller has no intention of placing on the open MLS.

These are listings that I sometimes have that are in better closed neighbourhoods.  This may be because of school district or simply pricing. [or the owner's privacy]

We have met at an open house and  a specific buyer that wants this particular subdivision.  There are very few or none available.  I will write and canvas the individual homes for pocket listings.

Notes and Direct Mail; Receiving a few replies will lead to previews of specific properties, that will agree to showing their home discreetly.

These one party signed exclusive [pocket] listing agreements, may prove suitable or may not.  They nevertheless become available inventory to my clients.


What are the advantages?
Some want privacy...
Some do not want the open MLS knowing they are for sale
No people [shoppers] through the property that are unqualified to make the purchase.

Are you ready to be previewed for Whisper Listings?

Call Now....  If its busy call back

647 218 2414

Talk to their past clients

Results that Matter;
Its what the client's say afterwards that matters

Thank you David for introducing us to Lawyer [Victor Lishchyna]. He is going to be a great help to settle the estate for Zina. He is kind and is gentle in leading us through all the paper work that has to get done. I really appreciate your wisdom and guidance in all you did for Zina Lucyk Thank you again. Nellie C.

Its not me you have to talk to..   Its my past client's you need to ask

https://www.youtube.com/watch?v=Iya6S9Oxmq0&list=PLgAyzkpcVKWWCTfdakvGXjscUitfJOVfQ

#Toronto #realestate #YYZ 

I have an agent but he's busy

Are you under contract or intending to use another realtor?

" Yes I'm working with an agent. I like to look at places before I call him. I don't want to waste his time. Anytime after noon will work for me. Can you tell me what the condo fees include, what the tenets pay in rent, how long have they been there?"

How would you respond?

David Pylyp

647 218 2414

We have time to sell Etobicoke Homes for Sale

Called a FSBO today because clients I HAVE want to see the house. After a few preliminary questions...

FSBO: Do your clients need to sell their house?

Me: No, they are first time buyers

FSBO: Just so that you know our story, we've bought a house and we're not moving into it until June, so we don't have to sell. We've told all the agents this.

Me: (smh) You will have to sell in a few months

 ** listing to the bottom of the pile**

Me: Out of curiosity, Why are you selling on your own?
FSBO: To save money, we're not in a rush to sell

I felt like telling her they've told every agent who's called they're going to be desperate in a few months and more than likely are going to lose way more as a result.

[Still shaking me head.] 

The reality is if my Buyers under contract can create an advantage and SAVINGS, when there are no customers coming to buy your home...   then we will be back in a few months and see if you are still here.

Time to call a real estate agent; ask for references and interview in person.

David Pylyp 647 218 2414

What will happen in Toronto Real Estate 2015?

We are bullish and optimistic for the real estate market in 2015 because people consider Toronto ON a destination and an employer.

WHY?

We have first class universities; unmatched health care (PAID FOR) New start up companies are venturing north for technology (WESTERN University and Google in Guelph Kitchener)  Film Industry is strong here!   Our real estate values and Banking Systems are secure and confidant.

Vacancy

As more people arrive in the Toronto GTA Vacancy becomes an issue. Toronto is currently at 1.8% that are vacant even with 20,000 plus units added annually.

The affordability of Condo units as a purchase allows many to move forward to own their own space in Toronto.

Institutional Builders  IE Greenpark, Cadillac Fairview, are not building apartment buildings to add to the rental pool.   The City of Toronto and the Municipal Housing Authority have no budget to repair their existing housing stock. Nevermind building rental inventory.  Two buildings ( Urban Corp ) just converted their projects to rental stock.




All of the slides contained in this presentation are available to you for use.  They are from the Fourth Quarter update and Forecast by Canada Mortgage and Housing.  


Would you like to talk about any of the material here?

The acute shortage of detached homes with the 416 will continue as demand heightens this spring.  Townhouses and semi will share the same enthusiasm

Toronto Home Buying Rebates

You found a house yourself online.
You picked an agent to show you that house based on the rebate offered.

You bought the house based on the rebate.  They showed you the house (never previously seen) and you bought it.

You didn't take the Home Verified Report nor the Home Buyers Insurance for appliances, wiring or plumbing.

How can I help you now?


Real Estate is about making the right decisions.

Call me 647 218 2414

feeDuck - No thanks

So many new business models think everything online is FREE.

 ..as an agent bidding on a potential listing, you have to pre-provide them with a credit card to charge their fee IMMEDIATELY upon winning the bid... BUT there's no guarantee the owner will list at a realistic price, and no guarantee they won't change their mind about the listing. The agent bids on a 'listing' but it's not a legal and binding MLS listing, just a form filled in by the potential seller. 

So let's recap

I don't know if your asking price is reasonable...
I don't know if you have more debt than house...
I don't know (yet) if you are the real owner...
I don't know how clean your house will be...
I don't know if you have PETS...
I don't know if you have done inspections...
I don't know how long it will take to sell...
I don't know if you will find the offer acceptable to take...
I don't know if you are buying another house... 

You want me to Attract Purchaser with;
Produce video...  Youtube and unbranded Versions
Take Hi Res Images...
Advertise and Promote Online and with Social Media
and pay for brochures in full colour.
Say abreast of legislation

When I earn money I also pay taxes.

You want me to share a standard Co operating Commission.

The Buyer ALSO wants a REBATE....


Two people cannot save the same commission. Yes, the barriers to Real Estate sales are easy.  They teach you to fill out a real estate form.  Working in Real Estate for 25 years provides experience and observation. 

Ask for References!   Ask if they have other employment.  Ask for Samples.

Having the right answers at the right time is the Value that I bring to Homes sales in West Toronto  A real estate transaction is about building trust; a relationship that is transparent, honest  and intuitive.

Call me 647 218 2414

Let's beat the winter GRIMM

Do you want to fight the winter GRIMM?

Let's Go buy a condo Together!

http://DavidPylyp.com



Opened the Mail and its heavy on your heart?

Lets Renew that Mortgage and roll higher interest rate debt into where it will help your cash flow 
\
Call me 

647 218 2414

Dad /Mom has dementia....we need to sell the house

The children have a POA (Power of Attorney for assets)  and Mom has been getting really ill lately.

WE MAY need to sell the house.

The owner of a property is very ill and family members have a POA and they go ahead and list it. If the owner passes away prior to the property being sold does anything change with the listing? Does it have to become the Estate of Deceased?

There must be an event (other than procrastination) that triggers the validity of the POA. This creates a medical (MOH) Form 21 Certificate of Incapacity under section 54(4) Signed by the attending physician.


If your parent was to pass away prior to the closing of the sale, the estate trustee, would arrange for a probate certificate.

As always, call an Accredited Senior Agent who has the answers that you need. Always seek a legal opinion for guidance.

David Pylyp
#Bythewater in Etobicoke