Tag Archives: Home

This Weekend’s Open Houses!

Your Local Real Estate Team will be busy tomorrow hosting 5 open houses at 5 beautiful properties. Get the details below:

 

This bright brick bungalow will take your breath away!  Check it out on Saturday April 28th, 2018 from 12:30 pm to 2:00 pm at 48 McGuire Crescent in Tillsonburg.

 

 

View the immaculate living space filled with natural light and stunning hardwood floors at 36 Fernwood Drive in Tillsonburg on Saturday April 28th, 2018 from 12:00 pm to 1:30 pm.

 

Take a look at the investment potential on Saturday April 28th, 2018 from 12:00 pm to 1:30 pm. The large lot dressed with cedar trees at 76 Vienna Road in Tillsonburg offers quick high way access and plenty of privacy.

 

View this bright and beautiful open concept home in the quaint village of Norwich at 99 Lossing Drive on Saturday April 28th, 2018 from 2:30 pm to 4:00 pm.

 

 

Get one of the first looks this brand new listing on Saturday April 28th, 2018 from 2:30 pm to 4:00 pm. 147 Concession Street West in Tillsonburg offers approximately 4656 square feet of finished living space on a mature treed lot!

 


Contact Your Local Real Estate Team for more details at 519-409-7653!

 

 

Your Easiest Move Ever

Moving is a BIG chore and it can become overwhelming!  To help our clients stay organized we’ve invested in a technology to provide you with your own online and personal moving concierge to handle all of the stressful and time consuming details of moving.

Welcome to your moving conciergeWhat is an online personal moving concierge? It is the easiest way to complete all of your move related tasks. It brings together everything that you need for your move in one simple dashboard so that you can stay organized and save time. We were so impressed with everything that it can do and how simple it is to use, we know you are going to love it!

Through your personal dashboard, you will be able to completely manage your move. Let’s assume you need to transfer your electricity provider before your move date.smart phone - moving made simple  In your dashboard, you’ll simply click “Move Your Utilities,” and select “Electricity.” Two clicks are all it takes, and your transaction will be completed securely and directly with your provider, so you never have to worry about sharing private information. And that’s just the tip of the iceberg!

How about notifying businesses of your new address? The average household has to notify 15 to 20 different businesses of their move. That’s painful. Through your dashboard you can change your addresses with hundreds of business and even order your new government I.D. cards.

From finding local moving companies, or finding local charities to pick up unwanted stuff, to taking steps to prepare your new home for your arrival your online personal moving concierge with Erie’s Edge Real Estate will make moving simple.

your easiest move ever2

Fall Maintenance for Your Home

 

Fall Home Maintenance (1)

1. Make Exterior Repairs

Mice need only a tiny gap to be able to sneak into your house and raid your pantry and with colder weather coming, all of the little critters out there will be looking for warm places to make a home.  Fill small holes and cover any large gaps with heavy-duty hardware cloth to keep the wildlife outdoors.

2. Clean the Eavestrough

After leaves have fallen, clean out the gutters and downspouts, flush them with water, inspect joints, and tighten brackets if necessary.  Clogged gutters are one of the major causes of ice dams.  Replace old or damaged gutters with new ones that have built-in leaf guards.

3. Inspect the Roof

Make sure the roof is in good shape.  Inspect for missing and loose shingles. “Ice, rain, and woe combined with rapidly changing temperatures and humidity wreak havoc on roofs,” says Jay Butch, Director, Contractor programs for CertainTeed Roofing. “Your roof is your first defence in protecting your home.  It’s better to proactively deal with repairs in the fall than to discover a leaky roof during a snowstorm.

4. Ready the Heating System

Have your heating system checked by a licensed heating contractor.  Heating systems will use fuel more efficiently, last longer, and have fewer problems if properly serviced.  Get your wood stove and fireplace in working order.  Gary Webster, Creative Director of Travis Industries, suggests that you examine your wood stove or fireplace insert’s door gasket for a tight seal.

5. Reverse Ceiling Fans

Change the direction of you ceiling fan to create an upward draft that redistributes warm air from the ceiling.  Clean your humidifiers regularly during the heating season.  Bacteria and spores can develop in a dirty water tank resulting in unclean moisture misting out into your room.

6. Cover Air Conditioners

Vacuum internal part of air conditioners.  Remove units from windows or wrap the outside box with an approved tarp or plastic air conditioner cover to prevent rusting of vital parts.

7. Clean Yard Equipment

Prepare your yard equipment for storage.  This includes draining fuel from all gas-operated equipment such as lawn mowers, leave blowers, and chain saws. Check to see that all of your snow equipment is up and running before the first flurry falls.  Organize your snow clearing gear.  When snow arrives you’ll want to have shovels, roof rakes, and snow blowers where you can get to them.

8. Prepare Deck for Winter

Clean porch and deck furniture, and look for any needed repairs.  Cover and store outdoor furniture and barbecues in a protected area.  Make sure all soil is emptied from pots and planters. Dirt left in clay pots will freeze and cause the pots to crack.

9. Shut Off Outside Taps and Store Hoses

Protect your outdoor taps from freezing temperatures by shutting off water to them before the weather dips below freezing.  Drain hoses and store them indoors.

10. Clean Dryer Vents

Lint buildup in in dryer vents can make your dryer work less efficiently and even cause a fire.  Cool, dry weather increases static electricity, which can ignite lint that has built up, so now is a key time to get that lint out.  You can hire a duct cleaning specialist to clean the vents for you, or clean the vent yourself.  If you do it yourself:

  • Unplug your dryer
  • Shut off the gas if you have a gas dryer
  • Pull the dryer slightly away from the wall
  • Loosen the clamp holding the hose
  • Use a vacuum attachment or lint brush made for dryer hoses to clean out the hose and behind the dryer
  • Replace the hose, gently move the dryer to the wall (without crushing the hose) and plug it in.

FALL MAINTENANCE CHECKLIST

 

Simple Tips for Listing Your Home

Listing tips

In most industries today, buyers are doing their research before they shop. Likewise in real estate, buyers typically have a very good idea of the market they are shopping in as well as the property values within. With such knowledgeable shoppers, it is increasingly important that you have the resources to price your property competitively.

In order to attract the right buyers for your property, here are some important listing tips to consider!

Factors in Determining Your Property’s Value

Before you compare your home to similar properties and establish a competitive list price, the following points should be considered.

  • Location! Location! Location!
  • Size of home and lot
  • Style of home (Bungalow or 2 storey, etc.)
  • Condition and finishes/upgrades
  • Buyer Demand

Get to Know Your Market

A comparative market analysis (CMA) is an indicator of what today’s buyers are willing to pay for a home.  It compares the market activity of homes similar to yours in your neighbourhood.

Those that have recently sold represent what buyers are willing to pay.  The properties currently listed for sale represent the price the seller is hoping to obtain and show you what your competition is.  The listings that have expired were generally over-priced or poorly marketed. 

Together, you and your REALTOR® will review the CMA and establish a competitive market position for your property.

The Importance of Early Activity

As soon as a property comes on the market, there is a flurry of activity surrounding it.  This is the crucial time when REALTORS® and potential buyers sit up and take notice.

If the property is over-priced, it doesn’t take long for interested parties to lose interest.  By the time the price drops, a majority of buyers are lost.

Week 1

The Results of Overpricing

Many sellers believe if they price their property high initially, they can lower it later.  Often, when a property is priced too high it experiences little activity.  Gradually, the price will come down to market value, but by that time it’s been for sale too long and some buyers will be wary and reject the property.

On occasion, the price is dropped below market value because the seller runs out of time.  The property sells for less than it’s worth.

Missing the Right Buyer…

You may think that an interested buyer “can always make an offer” but if the property is over-priced, potential buyers looking in a lower price range will never see it.  Those who can afford a property at your asking price will soon recognize they can get better value elsewhere. For more insight on how to make sure the right buyer sees your property check out our blog on positioning your price for optimal search results!

Understanding the Factors that Influence Overpricing

Be aware of the factors that may tempt you to list your property too high.

  • Extensive renovations/hidden costs
  • Desire to purchase in a higher-priced area
  • Original cost of the home was too high
  • Lack of real market information
  • Building in “bargaining room”
  • Perceived emotional value

The Benefits of Pricing Your Property Right

Marlborough

With market knowledge and accurate property valuation your property can be positioned at the right price point to generate early activity and attract the right buyers. The right price also means:

  • Your  property sells faster, because it is exposed to more qualified buyers.
  • Your property doesn’t lose it’s “marketability”
  • The closer you price your property to marker value, the higher the offers
  • A well-priced  property can generate competing offers
  • REALTORS® will be enthusiastic about presenting your property to buyers

Pricing your property right is important! With these helpful tips, you’ll be armed with valuable knowledge when it comes to selecting your list price.  However, listing a property is complex and there are still many other items to consider.  Reach out to us at ray@eriesedge.com or 519-586-7922 if you have any questions about listing your home.

5 Things To Know About Real Estate Deposits

From a seller’s perspective, a deposit is a sign of good faith that the buyer, who has contracted to purchase the property, will complete the transaction on the date specified in the contract.

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Here are some common questions I’m often asked about real estate deposits.

1.  When does a deposit have to be paid?

The standard agreement of purchase and sale states that the deposit must be submitted “herewith” or “within 24 hours of the acceptance of this Agreement”. Neither alternative is legislated but an accepted good practice.

The reason that buyers are encouraged to come up with the deposit immediately is to demonstrate to the seller commitment to complete the transaction. 

Sometimes a buyer may not be able to submit the deposit within 24 hours for good reason. For example, when a buyer lives out of the area in which the property is being purchased, it’s unlikely that even using courier the required deposit will be received within 24 hours. 

This happens quite often to me when selling cottages. Buyers often live two, three or more hours away from where they are interested in buying a cottage. Often times the decision to purchase a cottage is made a couple of days after viewing the cottage when the buyer has returned home from cottage country. The exchange of a deposit cheque cannot be completed in person unless the buyer decides to drive all the way back to provide the cheque. 

In such instances, I simply change the pre-printed 24 hour term in the agreement of purchase and sale to an additional 24 or 48 hours to allow the buyer time to courier or express post the deposit to my office. 

In today’s technological age the use of e-transfers for submission of deposits are becoming increasingly popular thereby making the standard 24 hour submission of deposit quite simple.

2.  Can the buyer get out of a deal by refusing to pay the deposit?

No. Once the agreement of purchase and sale has been accepted by both buyer and seller, a binding contract exists. Failure to deliver the deposit may be determined a breach of contract by the Buyer. 

I’ve heard it said that a good lawyer will be able to get a client out of a real estate contract should the buyer change his or her mind. This is not the case in my experience. Your REALTOR® should understand contract law and all of the complexities and legalities to making certain that real estate contracts are airtight once all conditions have been waived or fulfilled. 

Should a buyer wake up the morning after with a serious case of buyer’s remorse and refuses to pay the deposit, the seller can sell the property to another buyer. In the event that the seller gets less money than the initial buyer agreed to pay the seller can sue the buyer for the difference (plus legal fees).

3.  What happens to the deposit money once paid?

In most circumstances the deposit is held in trust by the seller’s real estate brokerage. When a deposit is held by the real estate brokerage in trust it is protected by insurance so that even if the brokerage goes bankrupt the buyer’s deposit is protected.

4.  What happens to the deposit money if the buyer is not able to fulfill conditions?

Most agreements of purchase and sale contain conditions such as allowing the buyer to arrange a mortgage, have a home inspection completed or have the septic system inspected to make sure that it is in proper working condition, for example.  

In the event that a buyer is unable to fulfill conditions within the specified time frame indicated in the contract, the deal becomes null and void. For instance, if a buyer is not satisfied with the results of a home inspection the buyer can choose not to proceed with the purchase and request the return of the deposit. However, if the seller suspects that the buyer did not act in good faith in trying to satisfy the condition, the seller may refuse to release the buyer’s deposit. In this circumstance the deposit must remain in the brokerage’s trust account until a court order indicates who is entitled to the deposit.

In the event that the Seller does release the Buyer from the transaction, which is the case more often than not, the Buyer’s deposit shall be returned in full.

5.  How large of a deposit is required when making an offer?

This is an initial decision of the buyer which must be agreed to by the seller (just like any other term or condition of an offer). 

If a buyer’s offer includes a deposit of $1,000 yet the seller doesn’t think it’s enough to illustrate the buyer’s commitment to complete the transaction, the seller might counter offer requesting an increased deposit. From a seller’s perspective, a deposit is a sign of good faith that the buyer, who has contracted to purchase the property, will complete the transaction on the date specified in the contract. As I noted at the beginning of this blog, a deposit from a buyer indicates to the seller a sign of commitment. Meaning that the buyer is committed to completing the transaction in good faith and on time.  

While there is no right answer or minimum amount required, the size of the deposit should be given very serious consideration by both buyer and seller. As a buyer, put yourself in the seller’s shoes for a minute. How much deposit money will give a sense of confidence that the buyer is committed to the transaction? To read more about how much of a deposit a buyer should submit with an offer, click here

The purchase and sale of real estate for most people is one of, if not the single largest financial transaction of their life. REALTORS® are able to provide you experienced guidance and counsel when it comes to navigating the complexities and legalities of real estate contracts.

If you have any questions about deposits or any other real estate matters, feel free to “leave a comment” below and we’ll get in touch.