I recently received an email from a person who was going to buy through me a few years ago but then changed their mind. They sent me an email asking for some help. One of their kids bought a house in Oakville.
The deal is now firm, and wanted me to find out more about it.
I sent her an email saying that his agent should have provided him with all the information.
She let me know that it was a private sale and even the lawyer was wondering why the sellers wanted to sell so quickly.
Guess they should have used an agent.
With no representation on either side, there is no one to hold accountable.
When you buy you can have;
Your deposit is insured when held by a real estate company.
A Home Verified Report of PAST insurance claims.
Purchase Ownership History
Do a Home Inspection
Home Systems Insurance is available for Appliances and Wiring / Plumbing
Ask about things Buried in the ground ( tanks or septic)
Ask About Wiring Knob and Tube
Are there any items contain in or on the property that will impact getting insurance or financing?
Has Anyone died in the home?
Was it ever used for Notorious Means?
Don't you ask?
I do.... everytime. At the offer in person.
Call me
When making a multiple offer on a property we have a form available to Realtors, for the seller to sign, that they have actually seen your offer to purchase. You will know for certain your offer has been presented.
This may not necessarily get you a sign back, or counter offer, but at least will know for sure that they have been presented with your offer.
I recommend making your offer in person, not by fax or email, I expect you to be standing nearby, waiting anxiously and including a Letter of Capacity from your bank, that you have the funds available to close on this purchase.
This will make a big difference when compared to other people who are all conditional upon financing and have other obstacles to overcome, like the sale of a property. You can firmly give a date for moving in.
I would like to work with you to make it simple to get your next home.
Give me a call 647 218 2414
Do you believe "ITS" better on the other side? Do you covet their house? The Landscaping? Their Curb appeal? Are your kids watching their kids in the tree house?
When you are looking for a condo; what is the criteria? Display and presentation? The ostentatious lobby and double foyer. But the suites tend to be smallish and less with upgrades. Older is larger. Maintenance is a concern.
Is it the front lawn and the landscaping. A Buyer's First Impression that pleases the eyes? Once you are inside that perfect detached home, is their styling exactly as you wish your future home to be?
Before you start comparing features and benefits of homes lets take a moment and discuss neighbourhoods, transit, schools, a house or worship and distance to your community.
A wise gentlemen told me yesterday, "The Landscapers charge $2,500 per year to look after the grass trimming, spring and fall clean ups. That seems expensive since they are in and out so fast. They are many and they have large machinery for the job. This year we need to have the chimney relined and pointed. The house is over 50 years old, although it looks great It does need some updating." He's 88 and still spry.
Back at the condo; I thought about the concierge staff, security, garbage removal, outdoor terrace maintenance and endless BBQs without needing to worry about filling the tank.
Each style has its benefits, Sometimes it looks better over there...
Where would you like to be?
Pick your own place... http://HomeswestToronto.tumblr.com/mobile
The Toronto Real Estate Board released its February sales number to the glee of many in financial circles. Sales Collapsed by 20% SHOUT the headlines!
http://www.torontorealestateboard.com/market_news/market_watch/2013/mw1302.pdf
In the front page chart
Condo apartments
Month over month % change - 20%
This is in direct conflict with the chart immediately below that shows new listings at 11,052 down 12% from 2012.
YET Days on Market [DOM] increased to 28.... 28 days on market is a one month supply of homes for sale A Seller's Market FIRMLY continues [in the Toronto resale market] with multiple offers on detached and semi detached properties all around the GTA.
Now, have a look at the chart above. Detached home sales in the 416 numbered 749. The 905 area code sold 2,025 homes in that same period. A WHOPPING 3 times the number. So, as the singles start families or find their BFF and want more space, they migrate from the glamour of the city core and find their own white picket fence. Is the Toronto Land Transfer Tax singularly to blame? The average home price in Mississauga or Milton, Burlington is more appealing but now you need to go substantially further to save. Ajax and Oshawa are very appealing.
The most confusing is the BOM announcing 2.99% fixed for 5 year financing when typically the interest rates increase in spring to coincide with the RRSP and Tax Deadlines combined with mortgage demand for spring borrowings. Simply Put, There are annual interest rate fluctuations to match Home Buyer demand.
This creates conflicting media messages that make Buyers Hesitate. Additional mortgage qualification tweeking has removed some buyers from the POTENTIAL PURCHASER pool, yet has effectively changed nothing. CMHC may not insure purchases in excess of a 25 year Amortization [AM] or Purchases in excess of ONE MILLION. OK, but Genworth and MICC will gladly accept your insurance premium, funding with a first line financial institution and provide 30 year AM's.
I am more concerned about the announcement of continuing layoffs in a variety of business sectors combined with aged attrition in the workforce [retirees]. Part Time and Contract positions do not have the income and ability to qualify for mortgages.
If We are having a this conversation, this is good.
What do you want to do?
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