POWER OF SALE PROPERTIES… ARE YOU AWARE OF THE RISKS INVOLVED?

I listed a property in STREETSVILLE recently which was under Power of Sale.  Sometimes I have clients asking me about Power of Sale properties because they think they can “get a good deal” and potentially purchase the property at less than market value.

This is a misconception many people have and I would like to point out some information you should be aware of, so you can make an informed decision.

“Getting a Good Deal” isn’t always the case, as the Bank or Financial Institution must sell the property at fair market value, or risk being sued by the previous owner for selling at a lower amount.  The Bank must get at least the outstanding amount owing on the property, plus sufficient funds to pay the commission, and any surplus is paid back to the owner.

Once the Bank has taken possession of the property, after default by the owner, the Bank takes full control of the property and usually lists with a Realtor on MLS to get the property sold.  They typically require all offers to be faxed, and ask for 48-72 hours for irrevocable time, and only review/accept offers during business hours.

There also some pitfalls associated with buying a power of sale property.

• there are no warranties associated with the property, or its condition
• there are no warranties associated with any appliances, if any are left behind
• there are no warranties of ownership of any chattels on the property
• there are no warranties of any contaminants or hazardous material that may be present
• Typically, the lender does not allow for any inspection conditions in the offer… If you want an inspection you must conduct that prior to submitting an offer and depending on the findings, decide if you want to proceed.
• The previous owner has up to the 11th hour, even if a firm offer has been accepted, to bring his mortgage payments current and repossess his property. Where would you go then?
• The Bank usually includes many schedules and it would be prudent to have your lawyer review these prior to signing.

Therefore, getting a “good deal” isn’t always the case with Power of Sale properties, as there is some risk level associated with these properties, and you could end up having your contract negated if the owner brings his mortgage payments up to date before the property changes ownership.

You should ensure you get all the information associated with Power of Sale purchases from your real estate agent or lawyer relative to the laws in your area before signing on the dotted line!

***************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation/assessment of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who:

• cares about you and your family
• will listen to your needs
• work together with you, and
• protect your interests to achieve your objectives

***************************************

When did you last conduct a financial assessment of the value of your home?

Visit  www.ontariohousevalue.com  for a free online valuation to find out!!

***************************************

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

STREETSVILLE – THAT UNIQUE LITTLE POCKET KNOWN AS “THE VILLAGE IN THE CITY”

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agent, bungalow, bungalows for sale in Streetsville, Buyer, Curb appeal, Detached homes for sale in Streetsville, experienced agent, Gloria Valvasori, home for sale in streetsville, Mississauga, mortgage information, Streetsville Ontario, Streetsville properties, streetsville real estate agent, townhmes in streetsville

STREETSVILLE – The Village In The City

Streetsville (a part of the larger city of Mississauga, Ontario)  is a unique pocket nestled within the northwest part of the city of Mississauga. It is referred to as “the village in the city” and occupies the west and east  banks of the Credit River, with the majority located on the  west bank. Streetsville is known for its wonderful schools,  and its family friendly, safe neighbourhood environment, making it a very desirable neighbourhood to live.

As you take a leisurely stroll along Queen street, the main street in this Streetsville neighbourhood, its small town charm is quickly evident as you notice a number of historical buildings and streetscapes, blended with trendy shops, and the more modern suburban development surrounding it. The Ice Cream Parlour, is a popular spot on a hot sunny afternoon.

Streetsville offers a wide variety of home types from bungalows, semi-detached, condominiums, and townhouses.  The majority of homes in Streetsville are detached. Property values in this quaint  community range from $350,000 up to $1,200,000 +… making it a wonderfully affordable place for a variety of families to live.

Streetsville has a population of about 55,600.  In 1974 a number of communities were amalgamated, and Mississauga became a city. The last Mayor of Streetsville, Hazel McCallion who served from 1970 to 1973, then became the third mayor of Mississauga.  As of March, 2010, Mayor McCallion still occupies that office, and she lives in Streetsville.

Streetsville has a number of popular community events such as the   The Bread and Honey Festival in June, and the popular annual Santa Clause Parade on Queen Street.

Although the former village is surrounded by modern suburban development, it seeks to keep a “small town” charm by retaining a variety of historical buildings and streetscapes. As part of this attempt to maintain a separate identity from the larger city, the names of several main Mississauga roads, as they pass through Streetsville, revert to what they were called when Streetsville was an independent village. These include Mississauga Road and Bristol Road, which revert to Queen Street and Main Street respectively. Other main thoroughfares that cross Streetsville include Creditview Road, Eglinton Avenue and Britannia Road.

In 1818, the British made a second purchase of 648,000 acres (2,620 km²) of land from the indigenous Mississauga peoples. Before it could be opened for settlement, the land had to be surveyed, and as was usual for the time, surveyors would receive a grant of land from the parcel that they surveyed as compensation for their work. Timothy Street, along with Richard Bristol, a qualified surveyor, applied for a contract to survey parts of the newly available land. As they did their work, Street quickly began to appreciate the immense potential for settlement along the Credit River, and made plans to erect both a saw and grist mill once his work was finished.

In April 1819, the surveyed land was opened for settlement, and the first settler in the area, James Glendinning, settled on a parcel of land along Mullet Creek. Timothy Street did build his saw and grist mills, using stones from Glendinning’s land.

A large quarry of red clay lay on the west side of the village, encouraging the use of brick for construction.

In 1821, Streetsville’s first general store, now known as Montreal House, was built, and still stands. Another landmark, Timothy Street’s house, was built in 1825 and is one of the oldest brick houses in Peel Region.

In 1855, William Graydon and Peter Douglass built a large brick building, and sold it in 1859 to Bennet Franklin, a partner in Barber Brothers Toronto Woollen Mills. It became known as Franklin House. In 1910, under new ownership, the name was changed to the Queen’s Hotel. Although it ceased to operate as a hotel when its public room was closed with the enforcement of the Canada Temperance Act, it continued to be used for commercial purposes. At present, it has been designated under the terms of the Ontario Heritage Act and protected by a heritage easement, and now houses a restaurant and a variety of small businesses and offices.

In 1858, Streetsville was incorporated as a village. Timothy Street’s son, John, was the first reeve.

For the next century, Streetsville largely existed as a long narrow village with all of its shops, three churches, the cenotaph and the library located on Queen Street, which ran between the Credit River and the railway track.

In 1953, two of the first suburbs in Canada, Vista Heights and Riverview, were built to the southwest and northeast respectively. Vista Heights was notable because the town council of the time made the unprecedented decision to require the developer to build a K-6 (kindergarten to Grade 6) elementary school. These suburbs and Vista Heights Public School opened in 1955, presaging the future high growth of middle-class suburbs in the area.

***************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation/assessment of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who:

• cares about you and your family
• will listen to your needs
• work together with you, and
• protect your interests to achieve your objectives

***************************************

When did you last conduct a financial assessment of the value of your home?

Visit  www.ontariohousevalue.com  for a free online valuation to find out!!

***************************************

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

 

STREETSVILLE, THE UNIQUE POCKET KNOWN AS “THE VILLAGE IN THE CITY”

Tags

agent, bungalow, bungalows for sale in Streetsville, Buyer, Curb appeal, Detached homes for sale in Streetsville, experienced agent, Gloria Valvasori, home for sale in streetsville, Mississauga, sellers, Streetsville Ontario, streetsville real estate, streetsville real estate agent, townhomes for sale in streetsville

STREETSVILLE – The Village In The City

Streetsville (a part of the larger city of Mississauga, Ontario)  is a unique pocket nestled within the north west part of the city of Mississauga. It is referred to as “the village in the city” and occupies the west and east  banks of the Credit River, with the majority located on the  west bank. Streetsville is known for its wonderful schools,  and its family friendly, safe neighbourhood environment, making it a very desirable neighbourhood to live.

As you take a leisurely stroll along Queen street, the main street in this Streetsville neighbourhood, its small town charm is quickly evident as you notice a number of historical buildings and streetscapes, blended with trendy shops, and the more modern suburban development surrounding it. The Ice Cream Parlour, is a popular spot on a hot sunny afternoon.

Streetsville offers a wide variety of home types from bungalows, semi-detached, condominiums, and townhouses.  The majority of homes in Streetsville are detached. Property values in this quaint  community range from $350,000 up to $1,200,000 +… making it a wonderfully affordable place for a variety of families to live.

Streetsville has a population of about 55,600.  In 1974 a number of communities were amalgamated, and Mississauga became a city. The last Mayor of Streetsville, Hazel McCallion who served from 1970 to 1973, then became the third mayor of Mississauga.  As of March, 2010, Mayor McCallion still occupies that office, and she lives in Streetsville.

Streetsville has a number of popular community events such as the   The Bread and Honey Festival in June, and the popular annual Santa Clause Parade on Queen Street.

Although the former village is surrounded by modern suburban development, it seeks to keep a “small town” charm by retaining a variety of historical buildings and streetscapes. As part of this attempt to maintain a separate identity from the larger city, the names of several main Mississauga roads, as they pass through Streetsville, revert to what they were called when Streetsville was an independent village. These include Mississauga Road and Bristol Road, which revert to Queen Street and Main Street respectively. Other main thoroughfares that cross Streetsville include Creditview Road, Eglinton Avenue and Britannia Road.

In 1818, the British made a second purchase of 648,000 acres (2,620 km²) of land from the indigenous Mississauga peoples. Before it could be opened for settlement, the land had to be surveyed, and as was usual for the time, surveyors would receive a grant of land from the parcel that they surveyed as compensation for their work. Timothy Street, along with Richard Bristol, a qualified surveyor, applied for a contract to survey parts of the newly available land. As they did their work, Street quickly began to appreciate the immense potential for settlement along the Credit River, and made plans to erect both a saw and grist mill once his work was finished.

In April 1819, the surveyed land was opened for settlement, and the first settler in the area, James Glendinning, settled on a parcel of land along Mullet Creek. Timothy Street did build his saw and grist mills, using stones from Glendinning’s land.

A large quarry of red clay lay on the west side of the village, encouraging the use of brick for construction.

In 1821, Streetsville’s first general store, now known as Montreal House, was built, and still stands. Another landmark, Timothy Street’s house, was built in 1825 and is one of the oldest brick houses in Peel Region.

In 1855, William Graydon and Peter Douglass built a large brick building, and sold it in 1859 to Bennet Franklin, a partner in Barber Brothers Toronto Woollen Mills. It became known as Franklin House. In 1910, under new ownership, the name was changed to the Queen’s Hotel. Although it ceased to operate as a hotel when its public room was closed with the enforcement of the Canada Temperance Act, it continued to be used for commercial purposes. At present, it has been designated under the terms of the Ontario Heritage Act and protected by a heritage easement, and now houses a restaurant and a variety of small businesses and offices.

In 1858, Streetsville was incorporated as a village. Timothy Street’s son, John, was the first reeve.

For the next century, Streetsville largely existed as a long narrow village with all of its shops, three churches, the cenotaph and the library located on Queen Street, which ran between the Credit River and the railway track.

In 1953, two of the first suburbs in Canada, Vista Heights and Riverview, were built to the southwest and northeast respectively. Vista Heights was notable because the town council of the time made the unprecedented decision to require the developer to build a K-6 (kindergarten to Grade 6) elementary school. These suburbs and Vista Heights Public School opened in 1955, presaging the future high growth of middle-class suburbs in the area.

***************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation/assessment of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who:

• cares about you and your family
• will listen to your needs
• work together with you, and
• protect your interests to achieve your objectives

***************************************

When did you last conduct a financial assessment of the value of your home?

Visit  www.ontariohousevalue.com  for a free online valuation to find out!!

***************************************

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

 

ARE YOU PROVIDING THE ONE THING CLIENTS REALLY WANT? OUTSTANDING SERVICE?

Tags

Mississauga, Streetsville Ontario, Buyer, streetsville real estate, Gloria Valvasori, experienced agent, Curb appeal, detached, First Impressions, townhomes for sale in streetsville, bungalow, home for sale in streetsville, streetsville real estate agent, Streetsville properties, bungalows for sale in Streetsville

Providing great service to each and every one of my clients is first and foremost to me… and should be to all agents.  When my clients are happy, I am happy and it provides me with a great sense of satisfaction of a job well done.

I am lucky I work in an office where the Broker keeps ALL the agents accountable for providing a superior level of service.

When an agent consistently falls short of providing professionalism in their conduct or actions, or receive negative feedback from clients, the agent is called in to the broker’s office to discuss how they can improve. He helps the agent to identify the areas where they are falling short, and provides assistance or training to improve their level of service.

My Broker, unlike others I have worked with, has the mindset that if his agents are successful, then the brokerage is successful and its a win-win situation. Therefore, he provides a variety of resources and training to help not only the newbies, but we seasoned agents, as well staying on top of the newest tools for realtors, and social media.

Sometimes it all comes down to communication, or the lack thereof between the client and the agent.  It is so important to keep the communication flowing, so you know if you failing to meet their requirements.

If the agent does not improve after a reasonable length of time, they are invited to move to another brokerage as they are failing to provide the level of service my office expects from their agents and one Better Homes and Gardens Real Estate is committed to.  We are a brand not only helping people buy and sell homes, but providing them with a lifestyle…

For some…  it is a no brainer, because we already provide a high level of service one would expect, and deserve from a real estate professional.  For others it is a learning experience and an opportunity for them to raise the bar….

I am so lucky to be working with a great broker, and a great group of colleagues.   My office scored an overall client satisfaction rating of 98%, which is quite remarkable….

Remember, providing great service is the most important things to clients…which comes back to you 2 fold in the way of referrals!!

***************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation/assessment of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who:

• cares about you and your family
• will listen to your needs
• work together with you, and
• protect your interests to achieve your objectives

***************************************

When did you last conduct a financial assessment of the value of your home?

Visit  www.ontariohousevalue.com  for a free online valuation to find out!!

***************************************

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

 

PRE-LIST HOME INSPECTION – ONE WAY TO HELP FACILITATE A SALE

Tags

Mississauga, Streetsville Ontario, Buyer, Real estate, Gloria Valvasori, experienced agent, Curb appeal, detached, townhmes in streetsville, townhomes for sale in streetsville, home for sale in streetsville, streetsville real estate agent, Streetsville properties, bungalows for sale in Streetsville

• PRE-LISTING HOUSE INSPECTION

AND WELL & SEPTIC TESTING

Buyers and Sellers have evolved into savvy people thanks to our ever-changing industry, and thanks to the internet which give us information at our fingertips at a click of a button.

When I first got into real estate back in 1987, house inspections were rarely performed, at least where I was living.  It was very rare to even see a lockbox on the property.  Back then I had to travel to each office prior to showing the properties to get each key for the houses I was showing.  After I showed the properties to my clients, I then had to return them to each individual brokerage office.  This made it very inconvenient and restricted other agents from showing the property,  as they had to wait until the keys were returned.

Having lockboxes installed on the doors made this process much easier to show the property, and beneficial to the Seller as now all the agents had instant access to the property without having to wait for the keys.  Lockboxes are coded, and when an agent calls the listing brokerage office to request an appointment the code is provided to that agent only.  No one else has access to the code, making it a relatively safe and efficient system.

Back in the 80′s, The Real Estate Board issued books once a week with listings to review and show our clients.. Of course, no interior photos, just a black and white of the front exterior of the house and a very brief description.  How things have changed! Now with colour photos of the interior, and virtual tours, potential buyers can actually see the entire home as if they were inside already.

I`ve noticed a shift now, where many savvy home owners are having a house inspection performed prior to listing their property.  This serves two functions.

• One is the Seller can identify any deficiencies and correct them, and
• two, it helps facilitate a firm sale much faster when the inspection report is made available to the buyer immediately, along with any receipts for any repairs that were completed that were identified in the inspection report.

This also applies to Well Water Testing and Septic Inspections when dealing with country properties. It’s not an expensive item, and having those documents available, just might make potential buyers move forward with submitting an offer, and remove any doubts they may have about the property.

***************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation/assessment of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who:

• cares about you and your family
• will listen to your needs
• work together with you, and
• protect your interests to achieve your objectives.

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

 

IS YOUR AGENT FULFILLING YOUR EXPECTATIONS? WHAT TO EXPECT FROM YOUR REALTOR

Tags

Mississauga, Streetsville Ontario, Buyer, Gloria Valvasori, experienced agent, Curb appeal, detached, townhomes, mortgage information, townhomes for sale in streetsville, home for sale in streetsville, streetsville real estate agent, bungalows for sale in Streetsville, Detached homes for sale in Streetsville

Selling a home is one of the most important financial decisions you will make, and working with the right realtor to market your home, is another important decision you will make to achieve the best possible benefit.  Selling a home can be a stressful experience, and although you probably have been through the process before, every sale is different and the variables can change. Your first task, is choosing the right realtor, one who  makes the experience of selling your home as pleasant and seam-free as possible, and with as little inconvenience to you as possible.

Choose a realtor who:

• works in and is familiar with your neighbourhood
• works full time in the real estate business
• keeps up with the latest market trends
• is accessible through a pager and cell phone
• works from an office that is open evenings and weekends to accept calls from prospective buyers
• has high ethical standards, who is honest and who will put your interests first and foremost
• is detail oriented in order to protect your interests
• has the training, the know-how and experience in the negotiation process
• help you obtain the best possible price
• you feel personally comfortable with, who is a professional, and in whom you can feel confidence and trust
• listens carefully to what you say, and will respond to your specific needs
• has experience …someone who will provide you with a full explanation of what to expect along the way
• can provide all the services you may need during the course of the selling process
• is fully computer literate to maximize the marketing of your home through various internet websites
• provides a high degree of service, customized  to meet your needd
• will be available to assist you in every aspect of the sale and to answer any questions you have along the way
• who is actively engaged on social media to further enhance the marketing of your home by bringing perpective buyers to his/her website to view your home

Expectations

It’s important to have a realtor with whom you can feel comfortable, and who will make your real estate transaction as smooth and effortless as possible for you.   The realtor’s job is to help their client reach their goals and satisfy their needs.

Your agent should

•  Return your phone calls promptly 
•  Make themself available to you at every opportunity when you need them
•  Explain all paperwork and procedures carefully and thoroughly
•  Gather the information you need to feel comfortable in the decisions you make. 
•  Be there every step of the way to answer any questions or concerns you may have.
•  Look after your interests, first and foremost.
•  Prepare Comparative Market Analysis to establish fair market value
•  Prepare and sign listing contract
•  Place house listing on MLS Board, agent website, and numerous internet sites for  easy accessibility to perspective buyers.
•  Place “For Sale” sign on property (if applicable)
•  Place lock box on property, if needed
•  Schedule property for Agent’s Open House
•  Place “Open House” ad in local paper
•  Arrange showings for other agents
•  Contact you regularly with verbal progress reports
•  Pre-qualify potential buyers
•  Present and discuss all offers on property with you
•  Negotiate the transaction with other agent and finalize the sales contract
•  Assure financing is in place
•  Confirm that all contingencies on sales contract are completed
•  Finalize the closing

Selling a home is so much more than placing a For Sale sign on the property and posting the listing on the MLS system.  Finding an experienced, and knowledgable agent is crucial to a successful sale.  An experienced real estate agent has a fiduciary responsibility to put your interests first and foremost.

Is your agent fulfilling all your needs and expectations?

**************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who cares about you and your family, and who will listen to your needs, work together with you, and protecting your interests to achieve your objectives.

www.streetsvillerealestateagent.com             gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

BUDGET FOR THOSE EXTRA COSTS WHEN BUYING A HOME …

Tags

bungalows for sale in Streetsville, Buyer, Curb appeal, Detached homes for sale in Streetsville, experienced agent, First Impressions, Gloria Valvasori, mortgage information, Streetsville Ontario, Streetsville properties, streetsville real estate agent, townhomes for sale in streetsville

WHAT ADDITIONAL COSTS ARE INVOLVED WHEN BUYING A HOME??

Buying a home can be a very emotional event… and it can be very stressful …  and in the excitement of the process, it’s all too easy to forget the additional costs involved in any transaction of buying a home.  Keep in the mind that buying a home is one of the largest financial investments you will probably make and planning and budgeting for it is essential.

Here are just a few of the costs involved you need to know about, so you can budget for them.

House Inspection

This is an absolute must have, for both re-sale and newer homes.  Ask your agent to insert that condition in your offer. Home inspections usually take about 2 – 2 1/2 hours and the cost will range from $375.00 – $450.00 depending on the size of the home, and whether the basement is finished.

Appraisal

When applying for your mortgage for your new home, most financial institutions require that an appraisal be done to determine how much they are prepared to lend you.  If this is not covered in the cost of the mortgage, it usually runs about $200.00 – $250,00.

Mortgage Costs

Discuss the various payment options with your financial institution i.e. monthly, bi-monthly, weekly etc., to determine which one suits your needs.. Also discuss types and terms of the mortgage.  Types would open, closed, etc. and term means how long these rates will apply, i.e. 6  month term, 2 year term or 5 year term.  Amortization would indicate the total length or amortization period of the mortgage, i.e. 25 year, 30 year, etc. It would be advisable to obtain a pre-approval from your bank and lock in the interest rate while you shop for your home.  This way, if the rates increase, you are locked in… If the rates decrease, you can get the lower rate. These are normally valid for a period 90-120 days.

Insurance

If you are only putting 5% down on your mortgage, mortgage insurance is mandatory, and usually a requirement with a 20% down payment, or less. It can include a minimal charge and would be slightly higher if you are self-employed without benefit of third-party verification of income.

Title Insurance

Title insurance is a one time charge that you can ask your lawyer to include in your closing costs.  This will cover any unforeseen issues that you were not aware of that could appear after closing.  Title Insurance costs depend on the value or purchase price of the home, but an average cost is about $250 – $300 and is a one time charge.

Survey

A survey document is an up to date document showing the exact property line, and all buildings, fences, etc. located on the property.  In many cases the Vendor will have one, and if your lawyer insists on having one, plan on spending about $1,000 – $1,500.  This would be beneficial if you are planning on making any changes to the property, i.e. installing a fence around the perimeter, installing a pool, etc.

Home Insurance

This can sometimes be overlooked when calculating your monthly costs. Get a few quotations and make sure your enquire about any separate riders you may need for jewellery, furs, art, antiques, etc.

Condo Costs

Some condos fees include costs such as hydro, heat, roofs, parking, windows etc., but some do not. These can be found in the Status Certificate, which your lawyer will review.  He/she will look for any deficiencies in the financial position of the condo corporation, ensure the insurance on the property is sufficient and in place, any special assessments that may be coming up, and a review of the monthly condo costs.

Legal Costs and Disbursement

I would recommend you call at least 2 lawyers and ask what their fees are for closing on both buying and selling… and be sure to ask for the cost of disbursements.  Your lawyer will check the title to the property to ensure it is free and clean of liens or encumbrances.

Land Transfer Tax

This tax is levied on every purchase and covers the cost of transferring the property from the previous owner to the new owner.  There are sometimes reductions offered by the Government for first time homes buyers, or senior buyers.  It usually calculates to be about 1% + – of the purchase price.

Repairs

The house inspection will usually reveal small repairs or items to make note of for future repairs.  Sometimes it is just a bit of paint, of replacing an electrical outlet.. or as large as replacing the roof, or furnace. Take note, or bring a camera with you to record what repairs must be made, and also those repairs you would like to make in the future.  Your house inspector can offer an estimate on the cost of these repairs.  Your home inspection will usually be in written form and you will have a copy of any deficiencies the inspector noted in his report.

Replacements

Make room in your budget for replacement items, such as window treatments, new appliances, or replacing the carpet with hardwood floors.  Costs will vary, depending on the items you choose to replace, but once again, get more than one quotation.

Moving

Try to avoid moving at the end of the month, as moving companies normally charge a higher rate… June 30th is a date to avoid at all costs.  Get at least 2 estimates, and if you are moving small items yourself, make sure to include the cost of the small truck rental.

Ask your Realtor to help with an approximation of the costs involved so you can budget for them….. The last thing you want are unexpected costs that could sabotage your purchase….. be prepared before you go shopping for that new home and know exactly what it will cost…

Streetsville Real Estate

Are you relocating or moving to Streetsville, Mississauga or the Greater Toronto Area and need a real estate agent?

When you choose me to handle your Streetsville, Mississauga real estate needs, you choose a real estate professional who cares about you and your family, and who listens to your needs. I will work together with you, protecting your interests, to achieve your objectives.

I live and work in Streetsville and have a vested interest in property values here… and I service all of Mississauga and the GTA

Proud recipient of the Platinum award for outstanding service with a rating of 100% voted by my clients!!

A great experience starts with a great agent !

Helping You Make The Right Move since 1987.

Call me at (905) 363-4622 or direct at (416) 717-6331.

http://www.gloriavalvasori.com    www.streetsvillerealestateagent.com

email:  gvalvasori@rogers.com

    

SELLERS, TAKE HEED… STRONG PLUG-IN OR COOKING ODOURS LEAVE A NEGATIVE IMPRESSION

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I recall, several years ago looking for a very high-end home for one of my clients.  I arranged several viewings, and we are talking homes ranging from $850,000 up to $1,000,000. This was a large, executive and stately home, about 5,000 square feet. It was situated on a very large lot, backing onto a ravine.. and had great curb appeal. Three car garage !!

However, upon entering the front door, we were immediately struck with the strong, pungent odour of curry.  It permeates everything and gets into the paint, draperies carpeting and furniture.

Needless to say we didn`t stay around too long.. we didn’t even view the entire home. In fact, we didn’t’ go any further than the foyer, and we were out the door where we could once again breathe fresh air.

On another occasion I was showing another rather high-end home… and my clients and I walked into the front door and were immediately hit with a strong fish odour.  It was very strong, and wafted throughout the house.  In fact, when we walked into the kitchen there were the leftovers sitting on a plate on the kitchen counter!

Agents, we need to educate our clients on how to prepare your home for a showing.  If you are preparing a meal where there may be lingering odours, please open the windows, and light some candles…. OR refrain from cooking the meal until after the viewing.

Please put the toilet seat down… and for heaven`s sake please flush !

People, it only takes a minute to make your bed, and remove dirty clothes from the floor.  It’s only a few more steps to the laundry hamper!

Remember, the first impression a perspective Buyer has when entering your home, is the one he/she will leave with, and it only takes 6 seconds to formulate that impression!

Make it a lasting GREAT impression!

Another ‘no-no’ are those very strong plug-in deodorizers. they can almost be as bad as the strong cooking odours.  If you insist on using them, use a light fragrance that doesn`t overpower. Some people are allergic to strong perfume and floral fragrances.

I know that having your home for sale can be stressful, and we don`t expect that it can be spotless at all times, especially with young children, but a little common courtesy and common sense should prevail.

Agents if you know this could be an issue when listing the home…. please have that all important talk with your clients.

Remember, the first impression a perspective Buyer has when entering your home, is the one he/she will leave with, and it only takes 6 seconds to formulate that impression!

Make it a lasting GREAT impression!

**************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who cares about you and your family, and who will listen to your needs, work together with you, and protecting your interests to achieve your objectives.

www.streetsvillerealestateagent.com            gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

THE COMMISSION STRUCTURE, WHAT IT COVERS, HOW IT IS ALLOCATED

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Many Sellers I encounter are not familiar with Commission structure, how it is allocated and what it covers.  Here is an excerpt from my book “A Seller’s Guide to Real Estate” where I cover this topic.

How Commission Is Allocated … and What It Covers

Real Estate professionals are independent business people who must pay fees to their broker, to their boards, and must cover ALL of their business expenses before they acquire net earnings. This means ALL expenses they incur to market your home, whether it be newspaper advertising, preparing and printing of feature sheets, the sign on your front lawn, the cost of the lockbox, time spent hosting an open house, time spend showing your home to perspective buyers, pre-approving perspective buyers, etc. etc. etc.

Most professionals receive an hourly fee for services as the work is done, but real estate agents are paid ONLY when have successfully completed a transaction.

All work leading up to that point, which might include consulting, fee appraisal evaluations, listing, marketing, showing properties, advertising, prospecting, etc. remains unpaid, until two parties are successfully brought together in a real estate transaction.

How Is It Allocated?

The commission paid to the Listing Broker upon completion of the sale is allocated as follows:

•-        50% is paid to the selling broker. The salesperson gets a portion of that dollar amount, dependent on what level of “split” they have negotiated in their contract. Each agent is under contract and the split, varies with the amount of commission earned.

•-        50% is paid to the listing broker, and again, the salesperson who represented the Seller receives his/her portion, depending on the terms of their contract as to whath percentage they receive. The amount will be dependent on what “split” they are currently on with their respective broker.  Again, this amount varies with the amount of commission earned.

What Does Commission Pay For?

1.    Licence Fees     The Ontario Real Estate Association decrees that a realtor must be licenced to sell real estate under their jurisdiction and by-laws.

2.    Board Fees        Toronto Real Estate Board, and Mississauga Real Estate Board and any other Real Estate Board the agent is a member of.

3.    Broker Fees       We are under contract to our broker for holding our licence and being the broker under whom I can trade in real estate.

4.   Advertising        All advertising, which includes newspapers, flyers, newsletters, mail-outs, web sites, feature sheets, personalized booklets, etc. are all expenses the  real estate agent is responsible for.

5.    Office Fees        A fee is paid to the broker to whom we under contract for use of such items as:  office space, computer equipment, software, fax machines,  photocopiers, phones, pagers, stationery, secretarial services, listing sign, open house signs, business cards, and automobile.

6.    Continuing Education           Agents are responsible for all educational courses and real estate seminars.

7.    Insurance:        Because we are independent business professionals, we are  responsible for our own medical/dental insurance and personal liability insurance.

In addition to the expenses noted above, you also get the benefit of an experienced realtor.

Just how much is that worth to you when you are negotiating one of the largest financial investments you have?

1.  Education and Experience

It is true in these busy times and with our busy lives, we are all looking for more of that precious commodity … which seems to be becoming more and more precious. Hiring the professionals gives us that time. You don’t need to know about buying and selling real estate if you hire a real estate professional who does, and will relieve the stress. Henry Ford once said that when you hire people who are more knowledgeable that you are, it proves you are smarter than they are.

3. Agents act as Buffers

If you are selling your home, a real estate professional can pre-qualify a buyer before showing them your home, so only qualified buyers are viewing your home. If you are buying a home, the real estate professional who is a member of the real estate board, has access to all up to date listings of homes on the MLS service and can quickly narrow down properties to show you that meet your specific requirements.

3. Knowledge of the Neighbourhood

Real Estate agents have access to a diverse data bank of knowledge pertaining to any specific neighbourhood, i.e. schools, shopping, transportation, places of worship, and other demographics. They either possess that knowledge from working in the area, or know where to find it for you.. They can identify comparable sales and provide these facts to you prior to submitting an offer to ensure you are paying fair market value, and not paying more than you should for a home.

4. Guidance with Pricing

Contrary to the beliefs of some, it is not the agent who sets pricing for sellers or buyers, it is the current market conditions that dictates pricing. An agent can, however, provide information to the Seller to use as a benchmark or guideline to assist them in selecting a price range to offer their home for sale, based on similar homes in their neighbourhood that sold recently. In addition to location, the condition of the home plays a major factor in obtaining the highest sale amount.  An updated home will naturally sell for more than one that has not been updated.

5. Market Conditions

Real Estate Agents have access to current market conditions and activities which they can share with you, which will govern your selling or buying process, i.e. median or average sales price, how many days on the market; ratio of list to sold price, are just a few. All these things will assist you in moving forward with the information you need to make an informed decision. Market conditions are ever-changing, and most often are determined on the time of year you list your home for Sale.  Generally the market is a little quieter than normal around Christmas for example, or during the months of July and August. There are many factors involved to determine how you should proceed and a trained real estate professional can help guide you through this process.

6. Professional Networking

Real Estate Agents network with many other professional who can provide you with services you will need to buy or sell your home, such as a qualified, certified home inspector, a mortgage agent, or a real estate lawyer. Real Estate agents can provide you with a list of these professionals who have a reputation for efficiency, competency and competitive pricing and you can then choose which professional you want to hire.

7. Confidentiality and Negotiating Skills

Real Estate Agents negotiate well because unlike most buyers and sellers, real estate agents can remove themselves from the emotional aspect of the transaction, remain objective and professional, and because they are skilled at what they do. Its part of their job. Real Estate agents are not messengers delivering buyer’s offers to sellers or vice versa, they are professionals who are trained to present their client’s case in the best possible light, while maintaining complete confidentiality from competing interests.

8. Processing Paperwork

A few years ago, real estate transactions required little paperwork, a one page deposit receipt were the norm. In today’s world Agreements of Purchase and Sale Agreements can often run 5, 6 or 7 pages, depending on the number of clauses or conditions contained in the Agreement. In addition to the Agreement itself, there may also be waivers to remove conditions, and sometimes Amendments to the Agreement. In an effort to try to combat money laundering, the Federal Government implemented a mandatory statute in June, 2008 making it mandatory for each agent to see a form of photo identification from each client, and record this information on an Individual Identification form which is retained in the file. Along with the Identification form a Receipt of Fund document is completed to record when the deposit was received and in what form, i.e. bank draft, certified cheque, etc. One of these forms completed incorrectly as one oversight could result in the negation of a transaction or cause legal difficulties, and possible a law suit.

9. Education and Experience

In most scenarios, closings run very smoothly, but for those cases where problems arise, your Real Estate Agent is there to assist you, or point you in the right direction to get matters resolved. Sometimes questions arise after closing, and an honest, Real Estate Agent will be there for you to answer any questions you may have that were overlooked in the excitement of closing, and moving.

10. Develop Relationship for Future Business

Providing a high level of service to clients gives real estate agents incentive to ensure their clients are happy and satisfied. This often leads to referrals, which is the livelihood for many agents, and few would survive if they were solely dependent on merely drumming up new business. It also means that an agent who stays in the business will be there for you when you need to hire an agent in the future to handle your next real estate transaction.

All of these factors add up to good value for service when leaving a major investment like your home, in the hands of a professional..

**************************************

I live and work in STREETSVILLE and have a vested interest in property values here. Are you considering buying or selling or know anyone who is? Give me a call for a complimentary evaluation of your home in this changing market. (416) 717-6331.

When you choose me to handle your real estate needs, you are choosing a real estate professional who cares about you and your family, and who will listen to your needs, work together with you, and protecting your interests to achieve your objectives.

www.streetsvillerealestateagent.com            gvalvasori@rogers.com

Your STREETSVILLE Real Estate Agent

Experience, Service and Integrity in Every Real Estate Transaction

I am the proud recipient of the Quality Service Certified Platinum award for outstanding service to my clients - a rating of 100%

PRESENTATION IS EVERYTHING... DOES YOUR HOME HAVE THE "WOW" FACTOR?

Reblogged from streetsvillerealestatebuzz:

PRESENTATION IS EVERYTHING !

Does your home have that WOW factor??

Are you maximizing your options to improve the salability of your home?

Home Staging

Staging your home is one of the smartest decisions a seller can make.  Home Staging can turn a cold and lifeless looking property into a warm, inviting home in a potential buyer's mind. First impressions are everything and if your property is presented in the right way, it will enchant your visitors and make it irresistible.

Read more… 519 more words