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What to look for during a first showing

1. “Size:”

One of the most important things to look out for during a first showing is the size of the home, and figuring out whether the size is suitable to the buyer’s needs. Buyers should find out “how many square feet the house is, how many bedrooms it has, and if the bedrooms are in fact the desired size”. Buyers should also consider whether the kitchen is the right size for their needs, and whether there is the right amount of storage area for them.

size

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Attributes of successful sellers

Home renovations increase a home’s value and the likelihood of its sale. But, there are also several attributes that successful sellers possess, which greatly help sell their homes.

Having the mindset to sell

Successful sellers don’t “list their homes to test the waters”. They don’t list to see how much they could get for the house, they are serious and set on selling it. They take advice from their real estate representatives and make any necessary repairs. They take every showing and all open houses seriously, and prepare for them in advance. Of course real estate representatives play a large role in that, since they are there to take care of the details, and to ensure all showings/open houses run smoothly. But the sellers themselves should think of all viewers as potential buyers, and thus should keep their homes clean/ “showing ready” at all times. Successful sellers also take all offers seriously. They work with their representatives and keep the “negotiations open,” they don’t simply ignore/reject any offers, especially the first ones. Sellers need to have the mindset to sell, they need to take advice from their real estate representatives, and take all showings, open houses, and offers seriously.

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How to increase the value of your home?

Sellers want to sell their homes at the best possible prices, but they often don’t know where they should be investing their money to increase the value of their homes. Here are the five ways which immensely help homeowners to do so.

1. “Sprucing up the kitchen”:

kitchen

It is important to have the kitchen in a good shape before selling a home, as it is what often “sells a home”. This doesn’t necessarily mean that homeowners have to spend a lot on this sprucing. Simply making minor repairs like changing the faucets, light fixtures, or perhaps adding new cabinet doors and handles can make all the difference. If the budget is there, spending more on a new cabinet system or appliances will even more so increase the home’s value.

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Power Of Sale vs Foreclosure

power of sale vs foreclosure

What’s the difference between Power of Sale and Foreclosure?

I often get asked about Foreclosure properties (Power of Sales). After 2008 and the housing crash south of the border, many people think that they can get a deal on properties in foreclosure. Although this may be true in the states, this is not necessarily the case in Canada. If you are considering buying a power of sale home, please consult with your real estate lawyer and real estate professional first (ie. ME!).

When a home is being foreclosed or sold by power of sale, it means that the lender (mortgagee – ie. a bank), not the homeowner (mortgagor), is selling the property. It is the process that allows the lender to recoup the funds when the homeowner has not paid the mortgage (default on the mortgage).

The differences between Foreclosure and Power of Sale is how it is handled and what obligations the lender/mortgagee has during the process. Because the laws are different in Canada (and even from province to province) and the US, it can be a little confusing.

Here are the main differences:

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New Homes Vs. Resale Homes

New vs Resale

Should I buy new construction or a resale home currently on the market? This is an age-old debate as there are pros and cons to both options. There is no right or wrong answer, the choice is for you to make depending on what is important to you. Hopefully this can shed some light and help you determine which direction you should go.

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