Monday, May 17, 2010
Thursday, April 29, 2010
Closing Costs
Buying a Home or Condo?
There are several items that need to be attended to prior to closing a Toronto real estate transaction. These include certain items imposed by the government, certain items that lending institutions require, as well as certain items that should be attended to in order to ensure clear title to the home or condo that you buy.
In general, we ask our clients to budget up to 3% to 4% of the purchase price of the Toronto home or condo to cover these various items. While these vary depending on the situation, typical costs include:
Survey
In most cases, the agreement of purchase and sale will have a clause asking for the vendor to provide a survey to the purchaser at their cost within a certain period of time. If the vendor does not provide you with an acceptable survey, you may need to obtain a new survey. Approximate cost: $1000 . In most cases however, the vendor provides the survey.
Title Insurance
Visit : http://www.titleplus.ca/ for more info
A title insurance policy can eliminate the requirement for a new survey. Title insurance is an insured statement of the condition of title or ownership of real property, at the time the policy is issued. Approximate cost: $250-275 (residential).
Land Transfer Tax
The Land Transfer Tax is payable on all purchases. The tax is calculated on the purchase price of a home according to a specific formula
The following chart illustrates Land Transfer Taxes for Ontario.
ONTARIO : Land Transfer Tax
Up to $55,000X .5 % of total property value
From $55,000 to $250,000 X 1 % of total property value
From $250,000 to $400,000 X 1.5 % of total property value
From $400,000 up X 2 % of total property value
See the calculator on my web site - www.spacelifts.ca
CITY OF TORONTO BUYERS ONLY
If you are a buyer within the boundries of City of Toronto , you will be subject to an additional City of Toronto land transfer tax for any real estate purchase. There is however, an exemption for first time buyers buying residential real estate up to a purchase price of $400,000. The additional City of Toronto tax is calculated as follows:
Up to $55,000 X .5 % of total property value
From $55,000 to $400,000 X 1 % of total property value
From $400,000 up X 2 % of total property value
Legal Fees
Legal fees will vary according to the lawyer. Approximate cost: $600 to $800 plus Disbursements.
Disbursements
Disbursements are costs that you lawyer will have to pay on your behalf, such as registration fees, photocopies, etc. Approximate cost: $400 to $600.
Statement of Adjustments
The purchaser and the vendor are each responsible for their share of taxes, fuel, and utilities. These costs will be reflected in the statement of adjustments, which the lawyer puts together. Approximate cost: Varies depending on type of property (condo vs. freehold) and time of year.
Home Insurance
Home insurance premiums will vary from one insurance company to another and according to your insurance needs. In a condominium, the building insurance is included in your maintenance fees and does not form part of the closing costs, unlike a house purchase. Approximate cost: Varies
Mortgage Application
Your lending institutionmay charge a fee for processing your mortgage application. Approximate cost: Varies
Mortgage Appraisal
Approximate cost: $200. This may be waived depending on how you negotiate.
Home Inspection
Prior to buying ahome, you should have a home inspection performed to identify any significant structural, electrical or plumbing problems with the home. Some lending institutions require that you have a home inspection completed before approving financing. Approximate cost: $200 - $450 plus tax.
Status Certificate
Prior to buying a condo, you should request a Status Certificate. This document provides details on the Condo Bylaws, Rules and Regulations, as well as Finances. Any In suite restrictions or common element restrictions are also detailed in the Status Certificate. Most importantly, it includes information on the condo's Reserve Fund, which is the amount the condo corporation has set aside to cover unexpected expenses. The seller usually pays for the Status Certificate. Approximate cost: $100.
CMHC Insurance Premium
This premium is only applicable if you are putting less than 20% of the purchase price as a down payment. Visit http://www.cmhc.ca/ for more information.
There are several items that need to be attended to prior to closing a Toronto real estate transaction. These include certain items imposed by the government, certain items that lending institutions require, as well as certain items that should be attended to in order to ensure clear title to the home or condo that you buy.
In general, we ask our clients to budget up to 3% to 4% of the purchase price of the Toronto home or condo to cover these various items. While these vary depending on the situation, typical costs include:
Survey
In most cases, the agreement of purchase and sale will have a clause asking for the vendor to provide a survey to the purchaser at their cost within a certain period of time. If the vendor does not provide you with an acceptable survey, you may need to obtain a new survey. Approximate cost: $1000 . In most cases however, the vendor provides the survey.
Title Insurance
Visit : http://www.titleplus.ca/ for more info
A title insurance policy can eliminate the requirement for a new survey. Title insurance is an insured statement of the condition of title or ownership of real property, at the time the policy is issued. Approximate cost: $250-275 (residential).
Land Transfer Tax
The Land Transfer Tax is payable on all purchases. The tax is calculated on the purchase price of a home according to a specific formula
The following chart illustrates Land Transfer Taxes for Ontario.
ONTARIO : Land Transfer Tax
Up to $55,000X .5 % of total property value
From $55,000 to $250,000 X 1 % of total property value
From $250,000 to $400,000 X 1.5 % of total property value
From $400,000 up X 2 % of total property value
See the calculator on my web site - www.spacelifts.ca
CITY OF TORONTO BUYERS ONLY
If you are a buyer within the boundries of City of Toronto , you will be subject to an additional City of Toronto land transfer tax for any real estate purchase. There is however, an exemption for first time buyers buying residential real estate up to a purchase price of $400,000. The additional City of Toronto tax is calculated as follows:
Up to $55,000 X .5 % of total property value
From $55,000 to $400,000 X 1 % of total property value
From $400,000 up X 2 % of total property value
Legal Fees
Legal fees will vary according to the lawyer. Approximate cost: $600 to $800 plus Disbursements.
Disbursements
Disbursements are costs that you lawyer will have to pay on your behalf, such as registration fees, photocopies, etc. Approximate cost: $400 to $600.
Statement of Adjustments
The purchaser and the vendor are each responsible for their share of taxes, fuel, and utilities. These costs will be reflected in the statement of adjustments, which the lawyer puts together. Approximate cost: Varies depending on type of property (condo vs. freehold) and time of year.
Home Insurance
Home insurance premiums will vary from one insurance company to another and according to your insurance needs. In a condominium, the building insurance is included in your maintenance fees and does not form part of the closing costs, unlike a house purchase. Approximate cost: Varies
Mortgage Application
Your lending institutionmay charge a fee for processing your mortgage application. Approximate cost: Varies
Mortgage Appraisal
Approximate cost: $200. This may be waived depending on how you negotiate.
Home Inspection
Prior to buying ahome, you should have a home inspection performed to identify any significant structural, electrical or plumbing problems with the home. Some lending institutions require that you have a home inspection completed before approving financing. Approximate cost: $200 - $450 plus tax.
Status Certificate
Prior to buying a condo, you should request a Status Certificate. This document provides details on the Condo Bylaws, Rules and Regulations, as well as Finances. Any In suite restrictions or common element restrictions are also detailed in the Status Certificate. Most importantly, it includes information on the condo's Reserve Fund, which is the amount the condo corporation has set aside to cover unexpected expenses. The seller usually pays for the Status Certificate. Approximate cost: $100.
CMHC Insurance Premium
This premium is only applicable if you are putting less than 20% of the purchase price as a down payment. Visit http://www.cmhc.ca/ for more information.
Saturday, February 27, 2010
Who should you hire for your renovation ....?
Depending on the scope of the renovation, you may require an Interior Designer or an Architect. Aesthetic changes can be done with a Decorator....but what's the difference?
The Interior Decorator
There are no licensing requirements in the Province of Ontario to be a Interior Decorator. At the present time anyone can print up business cards and get into the decorating business. They call themselves Designers, Decorators, Home Stagers, Re-designers and Stylists. HGTV has given many of them their own TV shows! Unfortunately, the general public doesn't understand what they are getting for their reno dollars.
Hate to tell you all this, but TV is fiction - it is not possible to do your kitchen reno over the weekend and build you a new entertainment unit out of MDF and nail gun in 6 hours on your drive way. Well we could, but it would last about a week before it would start to show it's lack of craftsmanship and start to come apart. I particularly love the shows that show make-overs completed in 48 hours with entire houses furnished and painted for under $5K! Again - REALITY CHECK - those budgets do not include quality materials you could actually live with, labour costs (yes, those pesky trades want to feed their families) and the furniture is rented and always gets taken back after the show.
Unfortunately, the line between entertainment and reality is so blurred by television design shows that most clients are frustrated and disappointed when they embark on an actual renovation project with licensed professionals.
An Interior Decorator can give advice only in the selection of surface materials,window treatments, wall coverings, paint, floor coverings, surface mounted lighting, surface mounted fixtures, and plan or specify loose furnishings for residential, business, restaurant, yacht or hospitality interiors.
That said, there are Interior Decorators who have taken
college level courses and Certificate Programs to become qualified Decorators.
For a list of qualified Interior Decorators visit www.cdeca.com
- The Canadian Decorators' Association - an organization that is trying very hard to establish credentials for their membership and their profession.
The Interior Designer
An interior designer is not only concerned with the aesthetic environment, but also with the safety, productivity, functionality and usefulness within an interior envelope. In other words, an interior designer is part architect, part decorator and part foreperson.
The title, Interior Designer in Ontario, is restricted by Government Legislation to members of ARIDO (The Association of Registered Interior Designers of Ontario) who meet their qualifications and standards.
To become a Registered Interior Designer requires a post secondary degree or diploma from a recognized 3 or 4 year Interior Design program. After graduation there is a mandatory 3 or 4 year intern period culminating in the Intern sitting a rigorous professional exam (NCIDQ). Additionally, ARIDO membership requires on going professional development and carrying Errors and Omissions Insurance and Liability Insurance.
The interior designer analyzes the client's needs, goals, life and safety requirements and integrates those findings with their knowledge of interior design. Formulating preliminary design concepts that are appropriate, functional, and aesthetic are just one aspect of their work. They also develop final design recommendations and presentations. They prepare drawings and specifications for non load-bearing interior construction, materials, finishes, space planning, furnishings, fixtures and equipment.
Professional Interior Designers collaborate with licensed practitioners, who offer professional services in the technical areas of mechanical, electrical and load bearing design that are required for regulatory approval. They may work with a structural engineer to design residential additions. They prepare and administers bids and contract documents as the client's agent and reviews and evaluates design solutions during implementation and upon completion.
The Architect
Architects are trained and licensed to design structural and building systems. Increasingly, however, the structures they design and build are delivered to the client not as completed living spaces
To become and Architect requires a bachelor*s or master*s degree in architecture from a university program approved by the Canadian Architectural Certification Board (CACB) or completing the *apprenticeship* offered through the RAIC Syllabus Program.
An internship is then served - for about 3 years followed by a mandatory professional exam. In Ontario, architects must be members of the Ontario Order of Architects (www.ooa.on.ca)
Many people wonder why they should engage an Architect or Interior Designer. They hope to save on the Architect/Interior Designer fees as many contractors can also draw, design and do the job.
Besides providing aesthetic inspiration, Interior Designers and Architects cram their plans with specifics about materials and construction. Not surprisingly, bids prepared from Interior Design and Architectural plans tend to be much closer to the actual final cost. They also act as your advocate, checking materials used and approving or disapproving work before the client releases the next payment to the contractor.
Additionally, many Interior Designers are able to access deep trade discounts on furniture, fixtures and finishes They typically pass a portion of this discount on to their clients off setting the cost of their services.
The Interior Decorator
There are no licensing requirements in the Province of Ontario to be a Interior Decorator. At the present time anyone can print up business cards and get into the decorating business. They call themselves Designers, Decorators, Home Stagers, Re-designers and Stylists. HGTV has given many of them their own TV shows! Unfortunately, the general public doesn't understand what they are getting for their reno dollars.
Hate to tell you all this, but TV is fiction - it is not possible to do your kitchen reno over the weekend and build you a new entertainment unit out of MDF and nail gun in 6 hours on your drive way. Well we could, but it would last about a week before it would start to show it's lack of craftsmanship and start to come apart. I particularly love the shows that show make-overs completed in 48 hours with entire houses furnished and painted for under $5K! Again - REALITY CHECK - those budgets do not include quality materials you could actually live with, labour costs (yes, those pesky trades want to feed their families) and the furniture is rented and always gets taken back after the show.
Unfortunately, the line between entertainment and reality is so blurred by television design shows that most clients are frustrated and disappointed when they embark on an actual renovation project with licensed professionals.
An Interior Decorator can give advice only in the selection of surface materials,window treatments, wall coverings, paint, floor coverings, surface mounted lighting, surface mounted fixtures, and plan or specify loose furnishings for residential, business, restaurant, yacht or hospitality interiors.
That said, there are Interior Decorators who have taken
college level courses and Certificate Programs to become qualified Decorators.
For a list of qualified Interior Decorators visit www.cdeca.com
- The Canadian Decorators' Association - an organization that is trying very hard to establish credentials for their membership and their profession.
The Interior Designer
An interior designer is not only concerned with the aesthetic environment, but also with the safety, productivity, functionality and usefulness within an interior envelope. In other words, an interior designer is part architect, part decorator and part foreperson.
The title, Interior Designer in Ontario, is restricted by Government Legislation to members of ARIDO (The Association of Registered Interior Designers of Ontario) who meet their qualifications and standards.
To become a Registered Interior Designer requires a post secondary degree or diploma from a recognized 3 or 4 year Interior Design program. After graduation there is a mandatory 3 or 4 year intern period culminating in the Intern sitting a rigorous professional exam (NCIDQ). Additionally, ARIDO membership requires on going professional development and carrying Errors and Omissions Insurance and Liability Insurance.
The interior designer analyzes the client's needs, goals, life and safety requirements and integrates those findings with their knowledge of interior design. Formulating preliminary design concepts that are appropriate, functional, and aesthetic are just one aspect of their work. They also develop final design recommendations and presentations. They prepare drawings and specifications for non load-bearing interior construction, materials, finishes, space planning, furnishings, fixtures and equipment.
Professional Interior Designers collaborate with licensed practitioners, who offer professional services in the technical areas of mechanical, electrical and load bearing design that are required for regulatory approval. They may work with a structural engineer to design residential additions. They prepare and administers bids and contract documents as the client's agent and reviews and evaluates design solutions during implementation and upon completion.
The Architect
Architects are trained and licensed to design structural and building systems. Increasingly, however, the structures they design and build are delivered to the client not as completed living spaces
To become and Architect requires a bachelor*s or master*s degree in architecture from a university program approved by the Canadian Architectural Certification Board (CACB) or completing the *apprenticeship* offered through the RAIC Syllabus Program.
An internship is then served - for about 3 years followed by a mandatory professional exam. In Ontario, architects must be members of the Ontario Order of Architects (www.ooa.on.ca)
Many people wonder why they should engage an Architect or Interior Designer. They hope to save on the Architect/Interior Designer fees as many contractors can also draw, design and do the job.
Besides providing aesthetic inspiration, Interior Designers and Architects cram their plans with specifics about materials and construction. Not surprisingly, bids prepared from Interior Design and Architectural plans tend to be much closer to the actual final cost. They also act as your advocate, checking materials used and approving or disapproving work before the client releases the next payment to the contractor.
Additionally, many Interior Designers are able to access deep trade discounts on furniture, fixtures and finishes They typically pass a portion of this discount on to their clients off setting the cost of their services.
Thursday, February 11, 2010
So a Blog is supposed to be entertaining? Not just informative ....
This pearl of wisdom was shared by my son recently. Apparently, ever supportive, he has been reading my fledgling blogging attempts and found them wanting - informative but dull as dirt. I apologize. It is a humbling experience to realize that the gift of chat, which comes so fluently and easily to me when I am face to face with a real audience, is stilted and , dare I say it ... boring, when I am alone with a computer screen.
That said, IS Real Estate interesting? Is there anything to say, to help inform, to illuminate, and still be humorous?
While the business side of buying and selling real estate is a deadly serious matter, the experiences can range from the fun to downright hilarious.
Let's Talking Staging
I did an open house at a swanky downtown condominium once where the Owners had listened to their agent, me, and staged the unit beautifully. It was sparkly clean, they had removed pretty much every piece of extraneous clothing from their closets, their furniture was the right size for the space and everything looked pretty much right out of a House and Home magazine.
With the uber hot resale market in Toronto, the crowd that attended the well advertised Open House was anxious to fall in love with the place and snatch it up before anyone else. While this condo was one of three identical units in the building on the market, and all pretty much at the same price point, this one looked fantastic!
"It's bigger than the others, isn't it?" I was asked over asked over, "Are they willing to sell the furniture with it?" But by far, the stand out in the crowd was the gentleman who I discovered in under the covers , cosy in my client's Queen sized bed, his shoes neatly stowed under the side of the bed, his coat on a chair! "Excuse me , what are you doing?" I asked incredulously. "Well, if I'm gonna buy it, I want to know what the experience of sleeping here would be" he said. Obviously I was an idiot for not seeing the merit in this savvy buyer's point of view. I left a note for my clients to change the sheets.... Happily, the condo sold that evening.
Moral of the story? Staging works! People don't want to see all you mismatched stuff, the sofa with one too many beer stains, your 3 foot high speakers from the 70's - guys you know I am talking to you here, your wives and girlfriends have pointed out to you that they make those things waaaaay smaller now, and let's not even begin with the 65 inch TV! People want to buy your place because they want to buy the lifestyle that they feel is associated with it. In urban areas, the spaces cater to those wanting a chic modern aesthetic both in where they live and how they live. The suburbs are family places and the houses are more family-centric but shouldn't be cluttered and frenetic! People want to commute to a happy family retreat but not a daycare center - toys away, (especially those big plastic play houses and kitchens), empty the diaper pails, put away your dirty laundry. Company is coming! Honestly, when your agent asks you to store a piece of furniture away, don't be angry or hurt. It may be a cherished piece . Trust me, we hate to ask, it's all very uncomfortable for us. But we do know what sells and anyone who has ever seen those TV shows with the before and after, the public is judgemental about your stuff!
That said, the opposite to an overstuffed house is the empty house - also a huge negative when selling your home. Did you know that an empty room looks smaller than when it's fully furnished? Most (over 90%) can't imagine what a house could look like with furniture in and will focus on all the negatives, real or imagined in an empty house.
I always work with my clients to edit their things down to the pieces that show off their home's features and spaciousness. Sometimes we need fresh paint or a repair; always thorough cleaning and voila - a saleable home. If the furniture you have doesn't fit the space as well as it fits your needs, we can rent items that are better suited to sell the life style and maximize the sale price!
At the end of the day it does come down to how much ends up in your pocket after the sale. “ Staged homes realized on average a 6.4% increase over the list price.” (Coldwell Banker Broker on 2772 homes in 8 cities) That's huge!
That said, IS Real Estate interesting? Is there anything to say, to help inform, to illuminate, and still be humorous?
While the business side of buying and selling real estate is a deadly serious matter, the experiences can range from the fun to downright hilarious.
Let's Talking Staging
I did an open house at a swanky downtown condominium once where the Owners had listened to their agent, me, and staged the unit beautifully. It was sparkly clean, they had removed pretty much every piece of extraneous clothing from their closets, their furniture was the right size for the space and everything looked pretty much right out of a House and Home magazine.
With the uber hot resale market in Toronto, the crowd that attended the well advertised Open House was anxious to fall in love with the place and snatch it up before anyone else. While this condo was one of three identical units in the building on the market, and all pretty much at the same price point, this one looked fantastic!
"It's bigger than the others, isn't it?" I was asked over asked over, "Are they willing to sell the furniture with it?" But by far, the stand out in the crowd was the gentleman who I discovered in under the covers , cosy in my client's Queen sized bed, his shoes neatly stowed under the side of the bed, his coat on a chair! "Excuse me , what are you doing?" I asked incredulously. "Well, if I'm gonna buy it, I want to know what the experience of sleeping here would be" he said. Obviously I was an idiot for not seeing the merit in this savvy buyer's point of view. I left a note for my clients to change the sheets.... Happily, the condo sold that evening.
Moral of the story? Staging works! People don't want to see all you mismatched stuff, the sofa with one too many beer stains, your 3 foot high speakers from the 70's - guys you know I am talking to you here, your wives and girlfriends have pointed out to you that they make those things waaaaay smaller now, and let's not even begin with the 65 inch TV! People want to buy your place because they want to buy the lifestyle that they feel is associated with it. In urban areas, the spaces cater to those wanting a chic modern aesthetic both in where they live and how they live. The suburbs are family places and the houses are more family-centric but shouldn't be cluttered and frenetic! People want to commute to a happy family retreat but not a daycare center - toys away, (especially those big plastic play houses and kitchens), empty the diaper pails, put away your dirty laundry. Company is coming! Honestly, when your agent asks you to store a piece of furniture away, don't be angry or hurt. It may be a cherished piece . Trust me, we hate to ask, it's all very uncomfortable for us. But we do know what sells and anyone who has ever seen those TV shows with the before and after, the public is judgemental about your stuff!
That said, the opposite to an overstuffed house is the empty house - also a huge negative when selling your home. Did you know that an empty room looks smaller than when it's fully furnished? Most (over 90%) can't imagine what a house could look like with furniture in and will focus on all the negatives, real or imagined in an empty house.
I always work with my clients to edit their things down to the pieces that show off their home's features and spaciousness. Sometimes we need fresh paint or a repair; always thorough cleaning and voila - a saleable home. If the furniture you have doesn't fit the space as well as it fits your needs, we can rent items that are better suited to sell the life style and maximize the sale price!
At the end of the day it does come down to how much ends up in your pocket after the sale. “ Staged homes realized on average a 6.4% increase over the list price.” (Coldwell Banker Broker on 2772 homes in 8 cities) That's huge!
Monday, February 1, 2010
The Realtor
When you are selling your home, you are entrusting your most valuable asset to your Realtor. We take this responsibility very seriously.
We are highly trained through pre-registration courses and on-going educational requirements, all geared to make us expert in subjects ranging from housing construction and legal issues, to conducting comparative market analysis so as to best price your home.
A Comparative Market Analysis will assist you with that difficult question:
Do I renovate or relocate? Your Realtor will assess the current market value of you home "as is" and be able to help you establish the kind of renovations that would give you the best return on your investment. We will to help you gauge how much to spend on up grading your home and still be in line with other homes in your market area.
Realtors must be licensed and registered under provincial laws that govern exactly how real estate can and can not be traded. These regulations are your legal guarantee of professional behavior. As Realtors, we adhere to the extensive Code of Ethics of the Canadian Real Estate Association and provincial regulators require us to maintain Errors and Omissions Insurance.
Should you have concerns about the professional behavior of a Realtor, provincial regulators and your local real estate board or association take these matters very seriously and work quickly to resolve any issues.
We have access to the real estate board's Multiple Listing Service. The MLS system is the single most powerful tool for buying and selling a home. It is a complex information-sharing and cooperative marketing network created by Realtors to help consumers buy and sell homes.
We are highly trained through pre-registration courses and on-going educational requirements, all geared to make us expert in subjects ranging from housing construction and legal issues, to conducting comparative market analysis so as to best price your home.
A Comparative Market Analysis will assist you with that difficult question:
Do I renovate or relocate? Your Realtor will assess the current market value of you home "as is" and be able to help you establish the kind of renovations that would give you the best return on your investment. We will to help you gauge how much to spend on up grading your home and still be in line with other homes in your market area.
Realtors must be licensed and registered under provincial laws that govern exactly how real estate can and can not be traded. These regulations are your legal guarantee of professional behavior. As Realtors, we adhere to the extensive Code of Ethics of the Canadian Real Estate Association and provincial regulators require us to maintain Errors and Omissions Insurance.
Should you have concerns about the professional behavior of a Realtor, provincial regulators and your local real estate board or association take these matters very seriously and work quickly to resolve any issues.
We have access to the real estate board's Multiple Listing Service. The MLS system is the single most powerful tool for buying and selling a home. It is a complex information-sharing and cooperative marketing network created by Realtors to help consumers buy and sell homes.
Friday, January 15, 2010
In Real Estate Who Are The Players?
The Realtor
When you are selling your home, you are entrusting your most valuable asset to your Realtor. We take this responsibility very seriously.
We are highly trained through pre-registration courses and on-going educational requirements, all geared to make us expert in subjects ranging from housing construction, financial and legal issues, to conducting comparative market analysis so as to best price your home.
A Comparative Market Analysis will assist you with that difficult question: Do I renovate or relocate? Your Realtor will assess the current market value of you home "as is" and be able to help you establish the kind of renovations that would give you the best return on your investment. We will to help you gauge how much to spend on up grading your home and still be in line with other homes in your market area.
Realtors must be licensed and registered under provincial laws that govern exactly how real estate can and can not be traded. These regulations are your legal guarantee of professional behavior. As Realtors, we adhere to the extensive Code of Ethics of the Canadian Real Estate Association and provincial regulators require us to maintain Errors and Omissions Insurance.
Should you have concerns about the professional behavior of a Realtor, provincial regulators and your local real estate board or association take these matters very seriously and work quickly to resolve any issues.
We have access to the real estate board's Multiple Listing Service. The MLS system is the single most powerful tool for buying and selling a home. It is a complex information-sharing and cooperative marketing network created by Realtors to help consumers buy and sell homes.
For additional links to the organizations that govern the legal, educational and ethical standards of Realtors in Ontario please look under "My Favourite Links".
When you are selling your home, you are entrusting your most valuable asset to your Realtor. We take this responsibility very seriously.
We are highly trained through pre-registration courses and on-going educational requirements, all geared to make us expert in subjects ranging from housing construction, financial and legal issues, to conducting comparative market analysis so as to best price your home.
A Comparative Market Analysis will assist you with that difficult question: Do I renovate or relocate? Your Realtor will assess the current market value of you home "as is" and be able to help you establish the kind of renovations that would give you the best return on your investment. We will to help you gauge how much to spend on up grading your home and still be in line with other homes in your market area.
Realtors must be licensed and registered under provincial laws that govern exactly how real estate can and can not be traded. These regulations are your legal guarantee of professional behavior. As Realtors, we adhere to the extensive Code of Ethics of the Canadian Real Estate Association and provincial regulators require us to maintain Errors and Omissions Insurance.
Should you have concerns about the professional behavior of a Realtor, provincial regulators and your local real estate board or association take these matters very seriously and work quickly to resolve any issues.
We have access to the real estate board's Multiple Listing Service. The MLS system is the single most powerful tool for buying and selling a home. It is a complex information-sharing and cooperative marketing network created by Realtors to help consumers buy and sell homes.
For additional links to the organizations that govern the legal, educational and ethical standards of Realtors in Ontario please look under "My Favourite Links".
Subscribe to:
Posts (Atom)
