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| Kenny Chan |
| Broker |
| Landpower Real Estate Ltd., Brokerage |
| Independently owned and operated. |
| kwmchan@gmail.com |
Condo Projects Coming SOON
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Maximize Your Home’s Perceived Value Through Staging
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One extremely important aspect of home selling that you have complete control over is the condition of your entire residential property. The old saying that "presentation is everything" is key during the sale process and should not be disregarded. In general, buyers are most attracted to homes that are clean, well lit, spacious and nicely decorated. Before putting your home on the market, brighten up in the interior by removing clutter from counters and shelves and taking the time to tidy each room of the home. Vacuum and wash all the floors as well as the walls until they shine. You might even want to consider hiring a professional local home staging company to bring in new and alluring furniture and fixtures to give your home a complete makeover. These companies will bring in some staggeringly attractive furniture, accessories, lighting fixtures, art for the walls, luxurious rugs for the floor, and even provide opulent china and expensive crystal to set up your dining room as if it was ready to host a state dinner. These services are affordable and when you sell your home, they will return and take everything away!
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Making The Buyer’s Visit As Pleasant As Possible
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Prospective property buyers will feel like intruders if the vendor is shadowing them during their home visit, and they may not be quite as comfortable as they would be if they were accompanied by a real estate agent alone. Go hang out at the mall, a local coffee shop, or take the kids to the arcade. If you absolutely can’t bear to leave, try to remain in a single area of the home, and don’t roam. Do not volunteer anything, but courteously answer any questions that you’re asked.
There are many other recommendations you should consider adhering to prior to any prospective buyers coming over to view your home: Turn on all the indoor and outdoor lights even if it’s daytime; Don’t use scented sprays before prospects arrive, try a potpourri instead; Keep pets either in one room or outside area, or better yet, at a friend’s home; Make sure you empty the trash cans in every room each time any prospects come to view your home; Keep your home spotless, clean up all the clutter, and try for that model home look… the perfect furnished home that no one lives in!
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Make Sure Your Buyer Knows What Stays With The Home & What Doesn’t
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When preparing to sell your home, you need to consider which items will be removed and which will remain with the property. Generally, items that are affixed to the home or grounds are meant to stay… and this can confuse people, especially first time sellers. When someone rents a home they usually take certain items, such as window treatments, when they move out. However, when selling your home the window treatments may have been used as a selling feature, in which case you would leave them for the new owners. Often times, features that a buyer expected to be left with the property, such as a chandelier or custom drapes are removed prior to buyer possession of the home and this can create problems, sometimes even breaking the deal. As a seller, you need to consider which items you will remove when you leave. If you have to unscrew it or dig it up to take it with you: put it in the contract! It's the easiest way to avoid misunderstandings later on. These types of misunderstandings can wreck real estate deals and turn what would have been a smooth closing into an unfortunate and costly legal confrontation.
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The Earnest Money Deposit Proves The Buyer Is Serious
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Most purchase offers for a home are accompanied by a cheque, referred to as an "earnest money deposit." The main reason for including a cheque with an offer to purchase is to impress upon you, the seller, that the buyer sincerely intends to purchase the home. The deposit amount differs from offer to offer, and depends on various factors. Some properties can generate a lot of interest, in which case a buyer might offer a larger deposit in order to convince the seller that their offer is more serious than others. In a hot market deposits are usually larger than in a slow market.
In a standard market, most buyers prefer to deposit no more than 2% of the purchase price. You may require the buyer to produce a copy of their bank statement, as well as proof that the funds have actually cleared the bank. If it's a quick closing, this can include a trip to the buyer's bank to view their account. Once you have agreed to terms, the earnest money deposit is typically placed in a trust account, at which point the money no longer belongs to the buyer, it jointly belongs to both of you.
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Mortgage Rates
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Kenny Chan
Broker
Landpower Real Estate Ltd., Brokerage
Independently owned and operated.
kwmchan@gmail.com
3621 Highway 7 E Suite 403, Markham, Ontario L3R0G6
Office: 905-305-9669 | Fax: 905-305-9668
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