Come Out To My 4th Annual Pumpkin Giveaway! - October 2016

As in any industry, there are terms and buzzwords that are unique to residential real estate. When you put your home on the market, you should know what those terms mean. Here are definitions for the most common ones:

Fair market value: This is an estimate of how much a specific home will sell for in today’s market, taking into account what similar properties in the area have sold for recently.

Seller’s Agent: That would be me, the REALTOR® who is helping you sell your property. I would also assist you in finding and buying your next home.

Buyer’s Agent: This is the REALTOR® who is representing the buyer of the property you want to sell.

Pre-approved Mortgage: This is a statement (often in the form of a certificate) from your bank or other lender that states that you qualify for a mortgage for a particular amount of money. A pre-approved mortgage adds credibility to any offer you make on a new home.

Staging: This is a strategy where a home is purposely prepared so that it appeals to potential buyers. Staging may involve cleaning, de-cluttering, rearranging furniture, redecorating, and more.

Survey: This is a document that defines the boundaries and measurements of your property and any structures on it.

Offer: This is an offer of purchase, in writing, for a particular property.

Conditional Offer: This is an offer to purchase, but with conditions – such as “conditional on a satisfactory home inspection” or “conditional on arranging suitable financing”.

When preparing a home for sale, most homeowners focus on pleasing the eyes. In other words, they make their property “look” as attractive as possible. That is, of course, a very important thing to do! However, your home will be even more appealing to buyers if you also engage their other senses.

Take smells, for example. Ideally, you don’t want any smells at all in your home during a viewing. So be careful about odours that can linger after cooking. Use the fan. Do not use scented air fresheners or strong perfumes in washrooms prior to viewings. If you or another family member smokes, avoid having the smell come into the home.

As for sounds, soft, pleasing music is fine. Just be sure to choose a style that would be acceptable to all. Think elevator music! If a neighbour is creating a loud noise next door – jackhammering a patio foundation, for example — ask him or her to keep it down during showings. Most good neighbours will be happy to do so.

In general, anything you can do, even something minor, that will make your home more appealing to all the buyer’s senses is worth the effort.

When you shop for a new home, you’ll probably start by thinking about what you need in your next property. Your list might include a spacious kitchen; three bedrooms; and, a mature tree in the backyard.

Those are property features and, of course, they’re important. But finding your next dream home involves more than just property features. It also involves getting what you want from the surrounding area. After all, a home isn’t going to be enjoyable if commuting to work from your neighbourhood is long and agonizing. So when you shop for a new home, also think about:

• Work. How will you get to work? Is public transit nearby?
• School. Where will your kids go to school? Is transit or bus service available? Will your kids be able to walk to school?
• Kids. Where will your kids play and hang out? Are there nearby playgrounds and parks?
• Neighbours. Do the local homeowners seem like the kind of people you’d like as neighbours?
• Shopping. Where will you do your weekly shopping?
• Hobbies. How far will you be from golf, theatre, or other hobbies?

As your REALTOR®, I can help you answer these questions. Call me today.