I just received this the other day by email ~ what a nice surprise!
It's always the highest form of compliment when you receive such a wonderful testimonial.
Back in 2008, after accepting a job transfer to Alberta, we listed our house in West Kelowna. Unfortunately, it was just after the market began to soften, and our house was listed high. After 2 years had passed, and many price reducgtions, we decided to list with a different REALTOR®. I then remembered back to when we first put our house up for sale, having received a visit from a very pleasant and friendly REALTOR® while working in the yard. Her name was Karen Guy. We called Karen, and she helped us set a fair market price and quickly went to work. In less than 2 weeks our house was sold for 99% of asking price.
This winter we decided to invest in a West Kelowna vacation property, so we called Karen. With us not knowing exactly what we were looking for, or what the current market conditions were like Karen patiently and courteously again went to work. We only knew Karen from the sale of our hoouse a couple years earlier, but she had stayed in touch and we felt very comfortable dealing with her. Enough so that when she found us a great deal, we made an offer and closed the sale long distance without ever viewing the property!
If you are buying or selling proeprty, we strongly recommend you give Karen Guy a call, you'll be happy you did.
Melinda and Kim Brigden
Thanks Kim and Melinda for your kind words they mean a lot to me :-)
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/
Friday, April 12, 2013
Thursday, April 4, 2013
Can I put a swimming pool in the backyard?
Can I put a swimming pool in the backyard?
Written by Kelowna Real Estate Lawyer Peter Borszcz.
I can still remember the day when my dad told me that we were putting in a pool at our old Nathan Road home in the Okanagan Mission in Kelowna, BC. It was better than Christmas. My sisters and I lived in that pool every summer thereafter. Swimming has always been an integral part of my life, as Kelowna Aquajet, as a lifeguard at Swim Bay in Peachland, and now taking my daughter swimming every weekend to the H20 Centre.
I get excited when Buyers and Realtors ask, “Can I put a pool in my backyard?”, but the answer depends on a number of factors including:
A. Land Title Issues
Many different land title charges on a property can affect the placement of a pool on the property. The terms of these charges need to be obtained from the Land Title Office and reviewed with your Real Estate Lawyer. Among the potential “red flags” are Easements, Statutory Rights of Way, and Covenants which may prevent the placement of a pool in the preferred location.
B. Bare Land Strata Restrictions
Bare Land Strata subdivisions “look” like fee simple residential subdivision, but the Strata Property Act will apply and the strata will be able to place rules and restrictions on the use of the property (Ironhorse is one local example). When considering a pool in one of these neighborhoods, the strata bylaws and rules need to be reviewed to ensure a pool is permitted.
C. City of Kelowna Requirements
i. Fences – the City of Kelowna requires that a fence maintained in good repair surround the pool having a height of not less than 1.07m (3.5 ft.) that has no more than a 10 cm gap and designed to prevent climbing. Any gates must be “self-closing”. This is a minimum, and from my experience as both a lawyer and lifeguard, I would recommend that clients go further and install at least a 5 foot fence that does not allow a child to “see through” and be tempted to climb over into the pool area.
ii. Water Input and Management – the City of Kelowna prohibits the filling of a pool until the fence is complete and the home owner should note that some local municipalities have, in the past, prohibited filling of pools in times of drought (City of Vernon). Chlorinated pool water cannot be discharged into the a municipal storm water system (this is both a municipal and federal requirement). A water discharge plan should also be part of the any pool design. If a home owner discharges water and it flows onto a neighboring property, the home owner may be liable under the tort of nuisance for damages that are caused to the neighbor.
Summary
A home owner wishing to install a pool will need to consult a number of professionals, including a Lawyer, BC Land Surveyor, municipal officials, and the pool contractor.
I am the GUY that will make a difference! I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
Written by Kelowna Real Estate Lawyer Peter Borszcz.
I can still remember the day when my dad told me that we were putting in a pool at our old Nathan Road home in the Okanagan Mission in Kelowna, BC. It was better than Christmas. My sisters and I lived in that pool every summer thereafter. Swimming has always been an integral part of my life, as Kelowna Aquajet, as a lifeguard at Swim Bay in Peachland, and now taking my daughter swimming every weekend to the H20 Centre.
I get excited when Buyers and Realtors ask, “Can I put a pool in my backyard?”, but the answer depends on a number of factors including:
- Land Title Restrictions
- Bare Land Strata Restrictions
- City of Kelowna Building Permit Requirements
- Water Input and Discharge Considerations
- Security and Safety Concerns
A. Land Title Issues
Many different land title charges on a property can affect the placement of a pool on the property. The terms of these charges need to be obtained from the Land Title Office and reviewed with your Real Estate Lawyer. Among the potential “red flags” are Easements, Statutory Rights of Way, and Covenants which may prevent the placement of a pool in the preferred location.
B. Bare Land Strata Restrictions
Bare Land Strata subdivisions “look” like fee simple residential subdivision, but the Strata Property Act will apply and the strata will be able to place rules and restrictions on the use of the property (Ironhorse is one local example). When considering a pool in one of these neighborhoods, the strata bylaws and rules need to be reviewed to ensure a pool is permitted.
C. City of Kelowna Requirements
i. Fences – the City of Kelowna requires that a fence maintained in good repair surround the pool having a height of not less than 1.07m (3.5 ft.) that has no more than a 10 cm gap and designed to prevent climbing. Any gates must be “self-closing”. This is a minimum, and from my experience as both a lawyer and lifeguard, I would recommend that clients go further and install at least a 5 foot fence that does not allow a child to “see through” and be tempted to climb over into the pool area.
ii. Water Input and Management – the City of Kelowna prohibits the filling of a pool until the fence is complete and the home owner should note that some local municipalities have, in the past, prohibited filling of pools in times of drought (City of Vernon). Chlorinated pool water cannot be discharged into the a municipal storm water system (this is both a municipal and federal requirement). A water discharge plan should also be part of the any pool design. If a home owner discharges water and it flows onto a neighboring property, the home owner may be liable under the tort of nuisance for damages that are caused to the neighbor.
Summary
A home owner wishing to install a pool will need to consult a number of professionals, including a Lawyer, BC Land Surveyor, municipal officials, and the pool contractor.
- Consult your Lawyer and obtain the terms of all registered non-financial charges from your lawyer, including easements, rights of way, registered no build/ no disturb zones, septic easements.
- Ensure you know the location of the non-financial charges, if unsure contact a BC Land Surveyor and obtain a consolidated site plan.
- Ensure you have a water discharge plan for the property.
- Review the current building permit requirements with a City of Kelowna official.
I am the GUY that will make a difference! I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
Thursday, March 21, 2013
Buyer's Survey Results for 2012 ~ Interesting Stats!
Stats provided by the Okanagan Mainline Real Estate Board.
For any other market information please give me a call!
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.800
http://www.connectwithkaren.com/
Friday, March 15, 2013
5 Tips for Saving for a Down Payment on a Home
5 Tips for Saving for a Down Payment on a Home
I am the GUY that will make a difference!I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/
I am the GUY that will make a difference!I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605
O 250.768.8001
http://www.connectwithkaren.com/
Wednesday, March 13, 2013
Chattels and Fixtures: What are They?
If you are thinking of selling your home, you may be wondering whether you should take the custom-made window coverings with you, or whether that entertainment unit you had specially made for your family room should be sold with the house.
Undoubtedly, these items may be hard to part with. On the other hand, they will probably make your home much more attractive to potential purchasers if you include them in the sale. In fact, it is quite common for vendors to include some items that would normally be considered as "chattels" - such as drapes and appliances - in the sale of their homes as an extra incentive to buyers.
Simply stated, chattels are things that can be removed from a property because they are not attached to the walls or to the property. Fixtures, on the other hand, are things that are attached to the property - things like light sockets, a hot tub or electric wall heaters.
The law is not always crystal clear about what is considered a fixture but your REALTOR® will help you decide and clarify what you want to include in the sale of your home.
Special Circumstances
There may be special circumstances where something that might ordinarily be considered as a fixture is not to be included in the sale, like the antique crystal chandelier you had imported from France.
Make sure this is clearly stated in the Listing Agreement and, more importantly, in the Offer to Purchase. If you are careful to note things you wish to exclude in the listing, other REALTORS® will be in a better position to point out the various items that are not included in the sale to their prospective purchasers before they even make an offer.
Remove from Sight
If you are absolutely certain you want to keep certain items, you may even want to remove them from your home before you put it up for sale. That way, no potential purchasers will see them, fall in love with them and insist that they be included in the sale.
Some items on the property such as water heaters or water softeners are sometimes provided on a rental basis. If this is the case, you should exclude the items from the purchase price or make sure mention is made of the outstanding contract in the Listing Agreement and Offer to Purchase.
Describe Items to be Included
Items that are to be included should be described along with their location in or on the property.
Remember, if you have questions or concerns, don't hesitate to talk to your REALTOR®. He or she is a trained professional who will help guide you smoothly through the selling process.
www.omreb.com
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
Undoubtedly, these items may be hard to part with. On the other hand, they will probably make your home much more attractive to potential purchasers if you include them in the sale. In fact, it is quite common for vendors to include some items that would normally be considered as "chattels" - such as drapes and appliances - in the sale of their homes as an extra incentive to buyers.
Simply stated, chattels are things that can be removed from a property because they are not attached to the walls or to the property. Fixtures, on the other hand, are things that are attached to the property - things like light sockets, a hot tub or electric wall heaters.
The law is not always crystal clear about what is considered a fixture but your REALTOR® will help you decide and clarify what you want to include in the sale of your home.
Special Circumstances
There may be special circumstances where something that might ordinarily be considered as a fixture is not to be included in the sale, like the antique crystal chandelier you had imported from France.
Make sure this is clearly stated in the Listing Agreement and, more importantly, in the Offer to Purchase. If you are careful to note things you wish to exclude in the listing, other REALTORS® will be in a better position to point out the various items that are not included in the sale to their prospective purchasers before they even make an offer.
Remove from Sight
If you are absolutely certain you want to keep certain items, you may even want to remove them from your home before you put it up for sale. That way, no potential purchasers will see them, fall in love with them and insist that they be included in the sale.
Some items on the property such as water heaters or water softeners are sometimes provided on a rental basis. If this is the case, you should exclude the items from the purchase price or make sure mention is made of the outstanding contract in the Listing Agreement and Offer to Purchase.
Describe Items to be Included
Items that are to be included should be described along with their location in or on the property.
Remember, if you have questions or concerns, don't hesitate to talk to your REALTOR®. He or she is a trained professional who will help guide you smoothly through the selling process.
www.omreb.com
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
Wednesday, February 27, 2013
Deal Yourself a Winning Hand With Skillful Negotiation
Congratulations! After a careful search, you and your REALTOR® have found the right home for you and your family. But don't uncork the champagne yet. There is still some negotiating to do before you close the deal.
YOU want the best possible terms and the SELLERS want to get the best price they can. To some extent, you are adversaries. The difference between a stalemate and a fair compromise may depend on whether you have planned ahead and developed a strategy for success.
Study the cards
To determine if the asking price reflects fair market value, have your REALTOR® research the sale price of comparable homes. If you think the house is realistically priced, don't make your first offer too low. Even though you need room to bargain, remember that the Seller will probably have strong emotional ties to the house; a low offer may be considered an insult and negatively impact your future negotiations. Knowing the market is key.
Your REALTOR® can also answer questions about market conditions, comparable prices and sales in previous years and other context information related to this property and/or the general area.
Ante up
When you decide the time is right, your REALTOR® will assist you in preparing an Offer to Purchase on a standardized form required by law. The Offer to Purchase must give the names and addresses of both Buyers and Sellers, a street address and legal description of the property for sale and a date of possession. It also sets out the price, terms and conditions, amount of deposit, list of goods included in the sale price and a time and date by which the offer must be accepted.
The offer is signed by you, witnessed and, sometimes, accompanied by a cash or cheque deposit. There is no predetermined amount for your deposit - its a negotiable item.
A deposit made by cheque should be payable to the Listing Broker (the company marketing the home) for deposit into the Broker's trust account. If the deposit is cash, a receipt will be provided by the Selling Agent. The deposit money will go into his or her company's trust account and be transferred to the Listing Broker's trust account if your offer is accepted.
Deposits are held in trust until the deal closes and then applied to the purchase price. If your offer isn't accepted, or if you can't meet any of the conditions (included in an accepted offer, your deposit will be returned.
If you are providing a substantial deposit, the money could be placed in an "interest-bearing" trust account to earn interest until the transfer of title. The interest can be paid to either the Buyer (you) or the Seller - this should be negotiated and specified in the Offer to Purchase.
Your REALTOR® who is legally required to present your offer to the Seller and, once that has been done, there is nothing to do but wait while the Seller considers your offer.
The Seller has three choices: to reject your offer, to accept your offer outright, or to counter-offer. To be valid, a Seller's acceptance has to be made within the time specified on the offer. When an offer is accepted - whether immediately or after one or more counter-offers - it becomes a legal contract binding on both parties to the transaction.
Although you hope your offer is immediately accepted, the Seller could come back with a counter-offer. Whatever the answer, it will be quickly relayed from the Seller through the Listing Agent to your REALTOR® and on to you.
The Counter Offer
A counter-offer shows the Seller is interested in reaching a deal but wants to adjust certain items in your offer that weren't acceptable. Usually negotiations simply consist of an offer, a counter-offer and agreement, but more than one counter-offer could be involved. Negotiation takes patience, knowledge and some give and take.
Usually, the key areas for negotiation are price, possession date, terms and conditions and possessions other than the home itself. The back-and-forth interplay of these items will determine where you and the Seller are likely to compromise.
For example, if you stand firm on your purchase price, you might have to take earlier possession to clinch the deal. Or the Sellers might want a little more money than you first offered but may be willing to give you something they weren't going to include at first.
Usually negotiations are minimal. But, if you are involved in more protracted negotiations, always be open and honest about your wants and needs. Frustration or finalization depends on whether both parties show a real desire to reach agreement through openness, good faith and honesty
Play it safe
The Offer to Purchase outlines items normally included in the purchase price of a home. It also has space for extra items that may not normally be included and for items to be specifically excluded.
Items which normally stay with the home - things like light fixtures, cabinets, built-in shelves - are considered fixtures. If there are specific fixtures you want to specifically ensure are included in the purchase price it would be prudent to note them on the offer so that there is no question about it.
Items which are not attached to the property and are movable are called chattels. Examples would be the wood pile, certain appliances, decorative mirrors, fireplace tools, and so on. If there are chattels you want to be included in the deal, ensure your REALTOR® puts them in the offer.
There are sometimes fine lines between what things are considered fixtures and chattels. For example, the built-in system of hoses and outlets for a central vacuum system is considered a fixture, while the canister and accessories are generally considered chattels. Play it safe and clearly spell out exactly what you expect to be on the property and/or in the house on the day you take possession.
The following items are some of the most common items which should be itemized in an offer:
Wild cards
You may want to make your offer subject to one or several conditions. Failure to satisfy conditions doesn't affect an agreement's validity but does give a Buyer the right to sue for damages in the event there is a breach of the contract.
A conditional offer may be countered with a special clause or condition called a "time clause". This is used occasionally used by Sellers to enable them to accept a Buyer's conditional offer and still leave room for them to accept another offer if one comes along. It provides for the Seller to give notice to the prospective Buyer that another acceptable offer has been made and the original Buyer now has a specific number of hours - often 48 hours (Sundays and holidays not included) - to satisfy all conditions in the original offer or to withdraw them.
Between shuffles
You will be busy between the Seller's acceptance of your offer and time at which you actually take possession of the property. For most people, arranging financing is a number-one priority. You should also consult a legal professional and provide copies of all required documents to ensure all the conditions of the contract can be met on time.
Don't forget you will need to alert the phone company, utilities, post office and other services of disconnection dates and get installation and connection dates for your new home. You will also have to send the required change of address notices for your driver's license, credit cards, banks, newspapers and others. Tell your friends and relatives about your new address and phone number. Confirm a convenient moving time with the Sellers and make your moving arrangements well in advance.
The transaction isn't complete until you have title to the property transferred into your name. Registering title and mortgage documents at the Land Titles Office requires legal documentation and the payment of legal fees. Your legal professional will do a title search of the property to confirm that the property is registered in the name of theSeller and to see if there are any outstanding caveats, liens or encumbrances registered against the title.
All steps necessary to complete the legalities of the transaction will be done by the legal professional on your behalf, including obtaining a site certificate, zoning memorandum, tax certificate and information from utility companies. Your legal professional will also make arrangements for collecting money due on closing of the deal, prepare documents for your signature and forward funds in trust to the Seller's legal professional for possession and transfer of title clear of all encumbrances.
The transfer of keys will usually be done through the legal professionals office with a variety of trust conditions in place for the exchange of keys and money.
Head for home
Now that you have made all the right moves to close the deal - you gathered market information, were flexible during negotiations and planned ahead - pop the cork on that champagne bottle and toast your new home!
www.omreb.com
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
YOU want the best possible terms and the SELLERS want to get the best price they can. To some extent, you are adversaries. The difference between a stalemate and a fair compromise may depend on whether you have planned ahead and developed a strategy for success.
Study the cards
To determine if the asking price reflects fair market value, have your REALTOR® research the sale price of comparable homes. If you think the house is realistically priced, don't make your first offer too low. Even though you need room to bargain, remember that the Seller will probably have strong emotional ties to the house; a low offer may be considered an insult and negatively impact your future negotiations. Knowing the market is key.
Your REALTOR® can also answer questions about market conditions, comparable prices and sales in previous years and other context information related to this property and/or the general area.
Ante up
When you decide the time is right, your REALTOR® will assist you in preparing an Offer to Purchase on a standardized form required by law. The Offer to Purchase must give the names and addresses of both Buyers and Sellers, a street address and legal description of the property for sale and a date of possession. It also sets out the price, terms and conditions, amount of deposit, list of goods included in the sale price and a time and date by which the offer must be accepted.
The offer is signed by you, witnessed and, sometimes, accompanied by a cash or cheque deposit. There is no predetermined amount for your deposit - its a negotiable item.
A deposit made by cheque should be payable to the Listing Broker (the company marketing the home) for deposit into the Broker's trust account. If the deposit is cash, a receipt will be provided by the Selling Agent. The deposit money will go into his or her company's trust account and be transferred to the Listing Broker's trust account if your offer is accepted.
Deposits are held in trust until the deal closes and then applied to the purchase price. If your offer isn't accepted, or if you can't meet any of the conditions (included in an accepted offer, your deposit will be returned.
If you are providing a substantial deposit, the money could be placed in an "interest-bearing" trust account to earn interest until the transfer of title. The interest can be paid to either the Buyer (you) or the Seller - this should be negotiated and specified in the Offer to Purchase.
Your REALTOR® who is legally required to present your offer to the Seller and, once that has been done, there is nothing to do but wait while the Seller considers your offer.
The Seller has three choices: to reject your offer, to accept your offer outright, or to counter-offer. To be valid, a Seller's acceptance has to be made within the time specified on the offer. When an offer is accepted - whether immediately or after one or more counter-offers - it becomes a legal contract binding on both parties to the transaction.
Although you hope your offer is immediately accepted, the Seller could come back with a counter-offer. Whatever the answer, it will be quickly relayed from the Seller through the Listing Agent to your REALTOR® and on to you.
The Counter Offer
A counter-offer shows the Seller is interested in reaching a deal but wants to adjust certain items in your offer that weren't acceptable. Usually negotiations simply consist of an offer, a counter-offer and agreement, but more than one counter-offer could be involved. Negotiation takes patience, knowledge and some give and take.
Usually, the key areas for negotiation are price, possession date, terms and conditions and possessions other than the home itself. The back-and-forth interplay of these items will determine where you and the Seller are likely to compromise.
For example, if you stand firm on your purchase price, you might have to take earlier possession to clinch the deal. Or the Sellers might want a little more money than you first offered but may be willing to give you something they weren't going to include at first.
Usually negotiations are minimal. But, if you are involved in more protracted negotiations, always be open and honest about your wants and needs. Frustration or finalization depends on whether both parties show a real desire to reach agreement through openness, good faith and honesty
Play it safe
The Offer to Purchase outlines items normally included in the purchase price of a home. It also has space for extra items that may not normally be included and for items to be specifically excluded.
Items which normally stay with the home - things like light fixtures, cabinets, built-in shelves - are considered fixtures. If there are specific fixtures you want to specifically ensure are included in the purchase price it would be prudent to note them on the offer so that there is no question about it.
Items which are not attached to the property and are movable are called chattels. Examples would be the wood pile, certain appliances, decorative mirrors, fireplace tools, and so on. If there are chattels you want to be included in the deal, ensure your REALTOR® puts them in the offer.
There are sometimes fine lines between what things are considered fixtures and chattels. For example, the built-in system of hoses and outlets for a central vacuum system is considered a fixture, while the canister and accessories are generally considered chattels. Play it safe and clearly spell out exactly what you expect to be on the property and/or in the house on the day you take possession.
The following items are some of the most common items which should be itemized in an offer:
- central vacuum system
- storage shed
- swing set
- water purifier
- propane tank
- pool accessories
- wood burning stove
- dishwasher
- mirrors
- appliances
- garage door opener
- alarm system
- ceiling fans
- window coverings
- fireplace screen, tools, woodpile
It is essential that the Offer to Purchase clearly states which items stay with the home and which ones the Sellers take with them. Never take anything for granted.
You may want to make your offer subject to one or several conditions. Failure to satisfy conditions doesn't affect an agreement's validity but does give a Buyer the right to sue for damages in the event there is a breach of the contract.
A conditional offer may be countered with a special clause or condition called a "time clause". This is used occasionally used by Sellers to enable them to accept a Buyer's conditional offer and still leave room for them to accept another offer if one comes along. It provides for the Seller to give notice to the prospective Buyer that another acceptable offer has been made and the original Buyer now has a specific number of hours - often 48 hours (Sundays and holidays not included) - to satisfy all conditions in the original offer or to withdraw them.
Between shuffles
You will be busy between the Seller's acceptance of your offer and time at which you actually take possession of the property. For most people, arranging financing is a number-one priority. You should also consult a legal professional and provide copies of all required documents to ensure all the conditions of the contract can be met on time.
Don't forget you will need to alert the phone company, utilities, post office and other services of disconnection dates and get installation and connection dates for your new home. You will also have to send the required change of address notices for your driver's license, credit cards, banks, newspapers and others. Tell your friends and relatives about your new address and phone number. Confirm a convenient moving time with the Sellers and make your moving arrangements well in advance.
The transaction isn't complete until you have title to the property transferred into your name. Registering title and mortgage documents at the Land Titles Office requires legal documentation and the payment of legal fees. Your legal professional will do a title search of the property to confirm that the property is registered in the name of theSeller and to see if there are any outstanding caveats, liens or encumbrances registered against the title.
All steps necessary to complete the legalities of the transaction will be done by the legal professional on your behalf, including obtaining a site certificate, zoning memorandum, tax certificate and information from utility companies. Your legal professional will also make arrangements for collecting money due on closing of the deal, prepare documents for your signature and forward funds in trust to the Seller's legal professional for possession and transfer of title clear of all encumbrances.
The transfer of keys will usually be done through the legal professionals office with a variety of trust conditions in place for the exchange of keys and money.
Head for home
Now that you have made all the right moves to close the deal - you gathered market information, were flexible during negotiations and planned ahead - pop the cork on that champagne bottle and toast your new home!
www.omreb.com
I am the GUY that will make a difference!
I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
Wednesday, February 20, 2013
Open House - a Unique Marketing Tool
If you have ever bought or sold a home, you are probably familiar with open houses and the role they can play in the sale or purchase of a home. Open houses are a marketing tool which can help give a home exposure, allowing several potential purchasers to view properties over the course of a day or two - usually on a weekend.
In addition to holding open houses for the public, REALTORS® also conduct open houses for other real estate professionals. This gives them a chance to promote their listings with other REALTORS® and Brokers who may have suitable buyers who would be interested in these particular properties.
Hints for Sellers
First of all, your property should be in top-notch condition to create a favourable and lasting first impression with potential Buyers. Keep your lawn trimmed and tidy. Also make sure that all trees, hedges and shrubs look neat, not unruly. Trim branches that block the view of your home or hide some of its best assets.
Repair any unsightly cracks or holes in your walkway or steps that could prove to be a safety hazard. Don't leave tools and toys strewn around the front or back yards; these detract from the curb appeal of your home, making it look like an obstacle course. They could also prove to be hazardous if someone tripped over them.
If your trim or siding looks dirty, wash it using an appropriate cleaning solution (your hardware store can probably give you tips on what's best to use). And if your paintwork is peeling or blistering, it's time for some cosmetic surgery. A little paint can go a long way to enhance the marketability of your home. If you are unable to tackle the job yourself, hire a professional for best results.
Indoors
Indoors, open up curtains and blinds to let in as much natural light as possible. This helps show your home to its best advantage. And be sure to move any clutter out of sight and rearrange furniture that might impede traffic flow.
Rooms should also be thoroughly aired and as fresh as possible - particularly if you have pets or when someone in your family is a smoker.
Vacate the premises for the day
Your REALTOR® will recommend that you leave during the Open House to help make prospective Buyers feel as comfortable and relaxed as possible. If you are in the house, Buyers are more likely to be intimidated and reluctant to give your home the thorough viewing it deserves.
If you have pets, make sure you take them with you - others may not appreciate them as much as you do.
Secure valuables
Before you leave, put all personal property like jewelry, medications and fragile items well out of harm's way in a safe, secure storage place. Don't leave money lying around. To make sure everything is secure and ready to receive visitors, quickly inspect your home with your REALTOR® just before you leave.
If you have any particular concerns about the open house, talk to your REALTOR® to see what suggestions he or she might have for you.
Tips for Buyers
On the flip side of the coin, if you are a Buyer attending open houses, keep in mind that viewing an Open House is a privilege.
Also keep in mind that the REALTOR® on duty is acting as host of the Open House on the Sellers behalf; the salesperson should be treated with the same respect you would give the Seller.
When asked to identify yourself at an Open House, you should sign the guest register. The Seller has the right to request that you sign the register, providing your name, address and telephone number.
It is also important to refrain from wandering through the house without the salesperson present; if the REALTOR® is busy, wait until he or she is able to show you around. The salesperson will be able to point out the features of the home you may miss if you look around on your own and can also answer any questions you may have.
When attending open houses, it is also important to clarify up front if you have been viewing homes with another REALTOR® . Keep in mind that the REALTOR® you are working with has gone to a lot of effort on your behalf and won't get paid a commission if you switch to another REALTOR® .
Open houses can be of benefit to both Sellers and Buyers when they are properly planned so be sure to talk to your REALTOR® about them.
http://www.omreb.com/
I am the GUY that will make a difference! I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
In addition to holding open houses for the public, REALTORS® also conduct open houses for other real estate professionals. This gives them a chance to promote their listings with other REALTORS® and Brokers who may have suitable buyers who would be interested in these particular properties.
Hints for Sellers
First of all, your property should be in top-notch condition to create a favourable and lasting first impression with potential Buyers. Keep your lawn trimmed and tidy. Also make sure that all trees, hedges and shrubs look neat, not unruly. Trim branches that block the view of your home or hide some of its best assets.
Repair any unsightly cracks or holes in your walkway or steps that could prove to be a safety hazard. Don't leave tools and toys strewn around the front or back yards; these detract from the curb appeal of your home, making it look like an obstacle course. They could also prove to be hazardous if someone tripped over them.
If your trim or siding looks dirty, wash it using an appropriate cleaning solution (your hardware store can probably give you tips on what's best to use). And if your paintwork is peeling or blistering, it's time for some cosmetic surgery. A little paint can go a long way to enhance the marketability of your home. If you are unable to tackle the job yourself, hire a professional for best results.
Indoors
Indoors, open up curtains and blinds to let in as much natural light as possible. This helps show your home to its best advantage. And be sure to move any clutter out of sight and rearrange furniture that might impede traffic flow.
Rooms should also be thoroughly aired and as fresh as possible - particularly if you have pets or when someone in your family is a smoker.
Vacate the premises for the day
Your REALTOR® will recommend that you leave during the Open House to help make prospective Buyers feel as comfortable and relaxed as possible. If you are in the house, Buyers are more likely to be intimidated and reluctant to give your home the thorough viewing it deserves.
If you have pets, make sure you take them with you - others may not appreciate them as much as you do.
Secure valuables
Before you leave, put all personal property like jewelry, medications and fragile items well out of harm's way in a safe, secure storage place. Don't leave money lying around. To make sure everything is secure and ready to receive visitors, quickly inspect your home with your REALTOR® just before you leave.
If you have any particular concerns about the open house, talk to your REALTOR® to see what suggestions he or she might have for you.
Tips for Buyers
On the flip side of the coin, if you are a Buyer attending open houses, keep in mind that viewing an Open House is a privilege.
Also keep in mind that the REALTOR® on duty is acting as host of the Open House on the Sellers behalf; the salesperson should be treated with the same respect you would give the Seller.
When asked to identify yourself at an Open House, you should sign the guest register. The Seller has the right to request that you sign the register, providing your name, address and telephone number.
It is also important to refrain from wandering through the house without the salesperson present; if the REALTOR® is busy, wait until he or she is able to show you around. The salesperson will be able to point out the features of the home you may miss if you look around on your own and can also answer any questions you may have.
When attending open houses, it is also important to clarify up front if you have been viewing homes with another REALTOR® . Keep in mind that the REALTOR® you are working with has gone to a lot of effort on your behalf and won't get paid a commission if you switch to another REALTOR® .
Open houses can be of benefit to both Sellers and Buyers when they are properly planned so be sure to talk to your REALTOR® about them.
http://www.omreb.com/
I am the GUY that will make a difference! I specialize in selling homes in the in the Okanagan Valley including Westbank, West Kelowna, Peachland with a focus on Rose Valley, Lakeview Heights, West Kelowna Estates and Shannon Lake.
Karen Guy, REALTOR®
Coldwell Banker Horizon Realty
C 250.878.3605 O 250.768.8001
http://www.connectwithkaren.com/
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