In today’s Brampton market, many homeowners have considered “going it alone” and selling their homes without the help of a REALTOR® to “save the commission.” However, once they realize how complex and intimidating a real estate transaction can be, many people reconsider and enlist the services of a REALTOR®. There are more than 145 steps to complete a real estate transaction. It requires an organized, step-by-step approach that many homeowners just don’t have the time, or experience to carry out.
A REALTOR® provides a variety of services including help in setting a listing price within current market guidelines. The Brampton market has changed dramatically over the past few months, your agent can provide you with up to date data. They also develop a marketing plan, offer recommendations and advice to make your home more attractive and “saleable,” and act on your behalf during negotiations to ensure your interests are protected.
Another advantage of working with a REALTOR® (especially someone specializing in Brampton) is the far-reaching market exposure your home will receive through the Multiple Listing Service® (MLS®). This co-operative marketing system relays information about your home to a vast network of REALTORS® and therefore, potential homebuyers in your market. The greater the exposure your home receives, the more likely you are to find a buyer willing to pay your price.
Selling your home is not a simple procedure. It involves large sums of money, stringent legal requirements and the potential for costly mistakes. A REALTOR® is committed to spending the time it takes to help you sell your home in the least amount of time and for the best possible price.
A REALTOR® must disclose to you in writing, who exactly they represent in any real estate deal. A REALTOR® may represent a buyer or a seller; they may also represent both buyer and seller in the same transaction. Your listing REALTOR® is, in law, your agent. An agent owes his or her client the duties of utmost care, integrity, confidentiality and loyalty. Make sure you discuss agency with your listing REALTOR®. If you own a house in Brampton or Georgetown you can email for a free home evaluation or just a second opinion.
For the past few years the Brampton real estate market had been booming. So ofcourse a lot of people decided to take up real estate selling as a profession (Brampton and Georgetown saw a lot of new registrants). Not everyone is cut out for sales however. That is why you must be sure that the agent you hire to sell your house is the best bang for the buck. Before you list your house with an agent there are some important things you should know about them. These questions are a good guideline.
1. How long have you been in the business?
2. How many sales did you do last year in Brampton? How many of them were your own listings?
3. Can I speak with your past clients?
4. Do you specialize in Brampton?
5. Is this a good time to sell?
6. How will you market my home?
7. How much commission do you charge?
8. Are your services promised in writing?
9. Can I cancel the listing if I’m not satisfied? Is there a penalty?
10. Do you do virtual tours? Are the pictures taken by a professional?
11. Can I see samples of your Feature Sheets?
12. How often will you keep me updated?
13. Do you follow up with agents for feedback?
14. Will you hold open houses?
If you own a house in Brampton it is very important to get a Brampton agent (or atleast someone who specializes in Brampton). They will know how much the houses are selling for and what’s in demand.
If you have questions about the Brampton or Georgetown real estate market drop me an email.
A Backsplit house with a basement apartment! In a very family oriented neighbourhood in Brampton. Totally renovated main floor (brand new kitchen, floors, lighting, and washrooms). House is vacant and available for immediate possession. For more details on this house you can email me at textvic@gmail.com
Williams Pkwy / Central Pkwy
With Basement Apartment!
For more pictures and a virtual tour on this beautiful Brampton property visit http://www.myvisuallistings.com/vt/19568
For any other Brampton real estate questions you can reach me at
textvic@gmail.com or (647)834-6834
Located by Creditview and Bovaird Drive. Totally Upgraded House From Top To Bottom. Sellers Paid Premium For The 5th Bdrm / The Extra Washroom / And The Lot. Hardwood On The Main Floor / Master Bdrm / And Staircase. 3 Washrooms On The 2nd Level! Basement Finished By Builder With A Bdrm And Washroom. Family Room With Upgraded Fireplace And Surround Sound System In Place (Wall Mounted Tv Is Negotiable).
 
For more pictures and a virtual tour visit http://www.myvisuallistings.com/vt/19665
For any other Brampton real estate questions you can reach me at textvic@gmail.com or (647)834-6834
Pre-Approved Mortgage
A Pre-Approved mortgage is a Free and No-Obligation deal that lets you know before you go looking for your home or signing an offer to purchase, how much you can afford to borrow based on your qualification and personal credit rating. We’ll arrange for you the most competitive rates with longest rate guarantee period that goes up to 120 days – if rates go higher, your rate will not be affected, and if rates go lower, you get the lower rate. This protection is solely responsible for savings thousands of dollars for many people who obtained a pre-approval and the rates increased afterwards.
Too often in the past, the mortgage was left to the very end, but with our Online Pre-Approval or by simply e-mailing us, we can take care of this important process within hours. Once you are Pre-Approved, you can confidently negotiate an offer on a home. A seller also prefers to negotiate an offer of a purchaser who has been pre-approved. With more lenders, lower rates, and no-cost, no-obligation, make us your choice for your pre-approval.
Conventional Mortgage
A conventional mortgage is a loan that does not exceed 75% of the purchase price or appraised value of the home, whichever is less. This type of mortgage does not have to be insured against default.
High-Ratio Mortgage – CMHC Insured / GE Capital Insured
A high-ratio mortgage is a loan that is above 75% and up to 95% of the purchase price or appraised value of the home, whichever is less. These mortgages must me insured against loss by either Canada Mortgage and Housing Corporation (CMHC), a Federal Government Corporation, or GE Capital, a private insurer. The premiums can be added to the mortgage amount or paid at closing.
Open Mortgages
An open mortgage allows you the flexibility to repay the mortgage at any time without penalty. Open mortgages are available in shorter terms, 6 months or 1 year only, and the interest rate is higher than closed mortgages as much as 1%, or more. They are normally chosen if you are thinking of selling your home, or if you are expecting to pay off the whole mortgage from the sale of a another property, or an inheritance (that would be nice).
Closed Mortgages
A closed mortgage offers the security of fixed payments for terms from 6 months to 10 years. The interest rates are considerably lower than open, and if you are not planning on any one of the above reasons, then choose a closed mortgage. Nowadays, they offer as much as 20% prepayment of the original principal, and that is more than most of us can hope to prepay on a yearly basis. If one wanted to pay off the full mortgage prior to the maturity, a penalty would be charged to break that mortgage. The penalty is usually 3 months interest, or interest rate differential (I.R.D. – please refer to glossary for detailed explanation).
Fixed-Term Mortgages
With a fixed-rate mortgage, the interest rate is set for the term of the mortgage so that the monthly payment of principal and interest remains the same throughout the term. Regardless of whether rates move up or down, you know exactly how much your payments will be and this simplifies your personal budgeting. In a low rate climate, it is a good idea to take a longer term, fixed-rate mortgage for protection from upward fluctuations in interest rates.
The 6 Month Convertible Mortgage
When rates are on their way down, or you may feel that they will in the near future, a 6 month convertible mortgage offers you the short term commitment at fixed payments, with an added advantage that while within the term, the mortgage is fully convertible to a longer term from 1 year to 10 years. At the end of the 6 month period, the mortgage becomes fully open, where one can renew with the existing lender or transfer to another lender. Even though it is offered at many financial institutions, there are differences from one to the next.
Bridge Financing
Bridge financing refers to a special, short-term loan needed to cover the time gap when two properties, both firm sales, are involved and the closing dates don’t match. The property being purchased closes before the one that was sold. There is a small set-up fee charged by the lender to have the bridge loan arranged, plus the cost of the interest as now you are carrying both properties for a short time. The rate charged on the bridge loan is about 2-3% above the bank’s prime.
If you have mortgage questions or any general questions about the Brampton or Georgetown real estate market you can email me at textvic@gmail.com
Did you just sell your Brampton house? Are you wondering what your lawyer will be doing for you and how much the charges will be? For sellers the cost is usually between $600 – $700 (give or take).
Here’s what your lawyer will do to assist you in making the sale of your home hassle-free:
- Do a complete review of the purchase agreement.
- Provide answers to the purchaser’s lawyer regarding title.
- Prepare transfer of title documents.
- Review any mortgage transactions.
- Close the transaction.
- Pay the appropriate commissions.
- Pay any outstanding claims against your property.
- Pay off your mortgage (if necessary).
- Forward the balance of the money from the sale to you.
- Provide a complete statement reporting all transaction.
The market is slowing down. Brampton and Georgetown will no doubt be hit hard as well. Consider yourself lucky if your house has already sold.
For more information on the Brampton or Georgetown real estate market drop me an email.
The advent of the Internet has changed all sorts of businesses and transactions that people go through in the course of their lifetime, and real estate is no exception. The use of the Internet in selling homes has completely changed the way in which real estate transactions are done.
One big part of the shift to an online real estate market is the concept of the virtual tour. It’s a pretty easy idea to understand; a home owner, or their real estate agent, or an individual hired by that real estate agent, shoots pictures or video coverage of the house for sale, including all rooms, the exterior and the interior. These images are then uploaded onto an Internet page where potential buyers can view them.
The virtual tour has several advantages for those wishing to sell their homes. Let’s take a look at them.
Targeted market. A virtual tour can really thin the crowd of potential buyers. Many times people will realize that they are not in the market for a particular home after visiting it the first time, so the seller may not see an offer even though several different potential buyers are scheduled to look through it. It can be frustrating, but when a virtual tour is available people can decide whether or not they like the look of the house on first glance without getting your hopes up. In Brampton there are thousands of homes for sale at anytime. One way to stand out is to have a virtual tour and qualify people before they even come in.
It allows you to showcase your home right away. Some houses, like some people, just don’t photograph well on the exterior, but a look inside will demonstrate value. A virtual tour lets you overcome the handicaps of appearance and season on the outside and show potential customers that your home is meant to be lived in.
No more open houses! Many home sellers and real estate agents malign the open house. It can be very difficult to organize, too many people have access to one’s home, and no one is really sure how well they work. A virtual tour will mean that an open house function of breaking the ice between the prospect and the home served by the idea of an open house is already taken care of, eliminating a major headache. If you live in Brampton and have gone shopping on the weekends you know how many open house signs you see on every intersection. A lot of people after their shopping (who have no intentions of buying a house) decided to visit those open houses. Just because you get a lot of visitors doesn’t mean the open house was a success.
Show the house how you want it. With a virtual tour, you can show off your house how you want it, at its very best condition. No need to clean every time the phone rings until those who have already seen it line up an appointment!
Setting up a virtual tour is a great idea for any home seller. It allows potential buyers to become familiar with a house on the market without the hassle and disappointment that can come with first time showings.
For more information on the Brampton or Georgetown real estate market drop me an email.
Your house should always be available for show, even though it may occasionally be inconvenient for you. Let your listing agent put a lock box in a convenient place to make it easy for other agents to show your home to homebuyers. Otherwise, agents will have to schedule appointments, which is an inconvenience. Most will just skip your home to show the house of someone else who is more cooperative.
Most agents will call and give you at least a couple of hours notice before showing your property. If you refuse to let them show it at that time, they will just skip your house. Even if they come back another time, it will probably be with different buyers and you may have just lost a chance to sell your home.
Try Not to be Home
Homebuyers will feel like intruders if you are home when they visit, and they might not be as receptive toward viewing your home. Visit the local coffee house, yogurt shop, or take the kids to the local park. If you absolutely cannot leave, try to remain in an out of they way area of the house and do not move from room to room. Do not volunteer any information, but answer any questions the agent may ask.
When you know someone is coming by to tour your home, turn on all the indoor lights – even during the day. At night, a lit house gives a “homey” impression when viewed from the street. During the daytime, turning on the lights prevents harsh shadows from sunlight and it brightens up any dim areas. Your house looks more homey and cheerful with the lights on.
Do not use scented sprays to prepare for visitors. It is too obvious and many people find the smells of those sprays offensive, not to mention that some may be allergic. If you want to have a pleasant aroma in your house, have a potpourri pot or something natural. Or turn on a stove burner (or the oven) for a moment and put a drop of vanilla extract on it. It will smell like you have been cooking.
If you have pets, make sure your agent puts a notice with your listing in the multiple listing service. The last thing you want is to have your pet running out the front door and getting lost. If you know someone is coming, it would be best to try to take the pets with you while the homebuyers tour your home. If you cannot do that, It is best to keep dogs in a penned area in the back yard. Try to keep indoor cats in a specific room when you expect visitors, and put a sign on the door. Most of the time, an indoor cat will hide when buyers come to view your property, but they may panic and try to escape.
Especially if your kitchen trash can does not have a lid, make sure you empty it every time someone comes to look at your home – even if your trash can is kept under the kitchen sink. Remember that you want to send a positive image about every aspect of your home. Kitchen trash does not send a positive message. You may go through more plastic bags than usual, but it will be worth it.
Not everyone makes his or her bed every day, but when selling a home it is recommended that you develop the habit. Pick up papers, do not leave empty glasses in the family room, keep everything freshly dusted and vacuumed. Try your best to have it look like a model home – a home with furniture but nobody really lives there.
For more information on the Brampton or Georgetown real estate market drop me an email.
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