Connect with us

Real eState

REAL ESTATE: Support documents sell homes faster – BCLocalNews

Published

 on


By Freddy Marks

Property buyers spend a lot of time asking questions to determine if a property is the right choice for them.

Buyers must perform some level of due diligence with every property they are seriously considering. A buyer must examine every aspect of a property to confirm your listing is accurately represented and there will be no unpleasant surprises down the line. Mortgage lenders also depend on documentation to determine if a property is factually represented in order to approve buyers.

Accurate and detailed listings with corresponding support documentation are a catalyst to sell your home faster and closer to the asking price.

Your realtor will ask you many questions about your property in order to create a detailed and accurate listing description. Your listing description is the white paper for your home, a chance to fully inform the reader of all the properties assets, services and features.

It is imperative that you have a comprehensive list of details and the supporting homeowner documentation that back up your listings claims. Documents make it real, they let a buyer know that what they read in your listing is actually true and honest integrity will prevail if they enter into a purchase contract with you. Their decision to make a competitive offer, and follow through with the final vetting and inspections, depends on how confident they are that the property is being truthfully represented.

Many buyers will still purchase property even if they know there are dated services, old wiring or major renovations are needed. It is to your advantage to be up front!

RELATED: Chilliwack and district real estate market back on solid ground

When a buyer ask questions of the listing realtor, for example, “how deep is the well, what year was it drilled and how many gallons a minute does it produce?” They expect that there is an honest and accurate answer backed up by the drillers’ well log.

Just typing out what details you know can be satisfactory, but it then puts the onus on the buyer to have a well inspection completed at their own time and expense. Quickly emailing a copy of the well drillers’ log directly to a potential buyer is the best way to answer their question and build a buyer’s confidence in selecting your property.

People don’t make major purchases that they don’t actually believe will be a benefit and asset.

Having the documents at the ready when buyers are vetting your listing puts your realtor in a position to market your property effectively. Confidence and accuracy of representation is extremely important and it is in every sellers’ best interest to keep a binder of all your homes pertinent documents that covers all the bases right from the beginning of ownership.

  • You may have old documents that you were given when you purchased the property. Include those, as well as all your own documents since becoming the homeowner. Like a property owner’s manual. Your property owner’s manual should include the official property deed, documents regarding loans on the property, your property tax invoice, copies of the property land survey, inspection reports, and copies of permits and contractors’ invoices for any upgrades.
  • If your home was built by a contractor in the last 10 years you will have warranty documents, and if you built your home yourself, an owner builder declaration certificate is needed.
  • If you own a mobile/manufactured home, the CSA number and registration papers are necessary.
  • Include records of your homeowner’s insurance to show the home/property are currently insured and the annual cost associated.
  • Keep and file records of plumbing, heating, service calls and any new appliance purchases with accompanying warranties.
  • Home buyers may want to know your homes energy consumption numbers, so include a years invoices for your hydro, natural gas/propane, pellet or wood cordage costs.
  • You may also have service contract documents, for example, an alarm system contract, pool servicing contract, or underground sprinkler contractor that services the property.
  • When the property is a rental unit, include a copy of the lease agreement.
  • Buyers should be aware of lease timelines, and if a buyer is purchasing the property for investment purposes, they will require the amount of revenue generated.
  • Pertinent rural farm or ranch property, water rights documents, irrigation equipment hour records, Crown range lease documents and other Agricultural Land Reserve documents should be in your property owner’s manual.
  • It is necessary to disclose any Homeowners Association (HOA) documents that include fees, charter by-laws, rules and insurance. Provide contact information for the HOA contact so buyers can conduct their own due diligence on the property.
  • Review the legal disclosures you are responsible for providing. They will be listed on your original purchase paperwork.
  • Properties in airport flight paths must be disclosed for noise.
  • Flood zones, earthquake zones and hazardous material sites must also be disclosed if you are aware of them.
  • When you enter into an agreement on a price with a buyer, transparency is important.
  • You are required to follow “disclosure laws” and make known to the buyer any hazards affecting the property before the sale is official. Examples of mandatory disclosures include: lead-based paint, asbestos, environmental hazards such as oil, gas, or toxic chemicals, water damage, defects/malfunctions of major appliances or systems, and past disputes over things like property lines or fencing.

Remember clarification improves efficiency and documentation can keep the forward momentum when a buyer shows interest in your listing.

It can be a very time-consuming process to perform due diligence research. Providing your properties “owner’s manual” to a buyer shows integrity and honesty. It can make a difference on how quickly potential buyers are able to make an offer, and ultimately, how long your listing will remain on the market.

SEE ALSO: B.C. fire department offers tips to keep your home safe during wildfire season

Even if you plan to stay in your home for years to come, it is always a good idea to create and keep adding to your property owner’s manual, as the years go by fast. It will make selling your home when you are ready a much easier, less stressful and enjoyable experience.

I’d like to wish all our readers a Merry Christmas and Happy New Year. Thank you for following our column.

Freddy Marks, together with his daughter Linda Marks, runs Agassiz’s 3A Group Sutton Showcase Realty. He has been a Realtor in Canada and Germany for more than 30 years, and currently lives in Harrison Hot Springs.


news@ahobserver.comLike us on Facebook and follow us on Twitter

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

Canadian Commercial Real Estate Industry Offers Support to National Vaccination Efforts – Canada NewsWire

Published

 on


TORONTO, Jan. 20, 2021 /CNW/ – REALPAC and its member organizations are pleased to announce an industry initiative to support the national vaccination rollout, through providing governments and health networks across Canada with the free use of vacant commercial space (such as retail space in malls, big box space, conference centres, hotels, industrial units, parking lots and office buildings) for use as vaccination sites.

“We see every day how hospitals are facing increasingly fragile scenarios, with provision of vital services being put on hold to divert resources to the COVID-19 response effort,” said Michael Brooks, CEO, REALPAC. “We also understand from governments that for Canada to successfully vaccinate its population by the intended September 2021 target, a very regimented approach will need to be taken.”

REALPAC, in partnership with its member organizations, has undertaken an initiative to identify unused commercial real estate space across Canada, to make available for free to governments and health networks to assist with the logistical rollout of COVID-19 vaccines. The goal is to provide an easily scalable portfolio of real estate assets that can form part of Canada’s distribution network to support the country’s vaccine mobilization effort. As reported by the BBC, a similar process is seeing success in the U.K., where the government is repurposing spaces such as convention centers and halls to serve as vaccination clinics.

REALPAC has secured the support of numerous CEOs, CFOs and COOs in its membership to participate in this initiative. These real estate owners are large, national operators with considerable real estate assets from coast to coast to coast, and are willing and eager to loan free space to government.

Participating members confirmed at this time include:

“Activating vacant real estate space as clinics for either vaccination or other medical services could reduce the logistical burden on hospitals and healthcare settings,” added Brooks. “REALPAC members are keen to work with the government to repurpose their unused spaces to function as vaccination sites, or storage spaces for vaccines, essential equipment, and medical supplies, which could greatly assist the vaccination rollout effort.”

REALPAC welcomes the opportunity to discuss this initiative with governments, policy makers, public health officials and healthcare networks, and direct inquiries to our participating members.

The commercial real estate industry remains committed to working with governments and healthcare networks to identify areas where space is needed and meet their needs to the best of our abilities. The industry would also like to sincerely thank governments, healthcare providers and front-line workers for their continued efforts to support Canadians during this pandemic. 

About REALPAC
Founded in 1970, REALPAC is the national leadership association dedicated to advancing the long-term vitality of Canada’s real property sector. Our members include publicly-traded real estate companies, real estate investment trusts (REITs), pension funds, private companies, fund managers, asset managers, developers, government real estate agencies, lenders, investment dealers, brokerages, consultants/data providers, large general contractors, and international members. Our members represent all asset classes in Canada – office, retail, industrial, apartment, hotel, seniors residential – from coast, to coast, to coast.

SOURCE REALPAC

For further information: on this initiative, please contact: Michael Brooks, CEO, [email protected], 416.642.2700 x225, www.realpac.ca

Related Links

www.realpac.ca

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

Planon acquires a majority stake in real estate software company Reasult BV – Canada NewsWire

Published

 on


NIJMEGEN, Netherlands, Jan. 20, 2021 /CNW/ — The Planon Group and Reasult today announced that Planon has acquired a majority share in Reasult B.V., founded in 2000 and headquartered in Ede (the Netherlands). Reasult is a software company that optimizes the financial performance of real estate portfolios and projects. Reasult’s leading software solutions are used by real estate developers, asset managers and housing corporations in the Dutch- and German-speaking markets. Example customers are Amvest, a.s.r. real estate, VolkerWessels and HANSAINVEST.

The Reasult software suite includes solutions for real estate development, asset- and portfolio- management, valuation management and financial planning. Planon will combine the Reasult applications with its own solutions for asset management and tenant management and engagement, into one software suite. By doing so, Planon aims to support real estate owners and investors in optimizing the performance of their property portfolio from a financial, building operations and tenant engagement perspective.

 “This acquisition is one of the first steps in Planon’s ambitious goals to accelerate its future growth. Planon firmly believes in the strength of Reasult’s solutions and its organization, both from a technical perspective and due to its extensive market knowledge and experience. It is therefore Planon’s plan to continue to expand the Reasult software suite, as it has done with previously acquired solutions such as SamFM and conjectFM. I am very excited about this acquisition and the possibilities it will offer to customers of both organizations to further develop their current solutions into an end-to-end property portfolio management solution,” said Pierre Guelen, CEO and founder of the Planon Group.

“As co-founder of Reasult 20 years ago, I am very excited about becoming part of a fast-growing global specialist in the field of building operations and service digitalization. With this move, Reasult will be able to further fulfil its strategy of offering a leading platform for optimizing real estate in the broadest sense. As part of a market leading organization, our customers and employees will benefit from this strategic step. The Planon and Reasult solutions are complementary which drives synergy and innovation. This collaboration will allow us to serve our customers in the best way possible and deliver innovative products to help real estate companies be ‘the best in class,'” said Aart Zandbergen, CEO at Reasult.

SOURCE Planon

For further information: Planon: Kayley Costa, [email protected], +31246413135; Reasult: Inge van Hal, [email protected], +31318672930, https://planonsoftware.com

Related Links

https://planonsoftware.com

Let’s block ads! (Why?)



Source link

Continue Reading

Real eState

Medicine Hat's real estate market holds steady in 2020 – CHAT News Today

Published

 on


But as far as sales go, it’s very close to the city’s standard and is comparable to the 10-year average.

House prices have even gone up a little bit. Devine says the 6 percent increase is due to the cost of the new and bigger houses being built.

Meantime, the average residential home price is almost $300,000 for homes in Crescent Heights, Crestwood, and Ross Glen.

Relatively speaking, Devine says our city has been fairly stable during COVID-19 in the housing market and it hasn’t changed a whole lot.

“I think overall, people that have money still have money. COVID doesn’t affect those people too much. Working people, obviously the interest rate makes a big difference. For young people buying their first homes, interest rates make a big difference. I think due to the diversity of Medicine Hat and the economy here I think that’s why there are so many people buying and getting into starter homes.”

Devine expects 2021 to be a busy year for Medicine Hat in the real estate market

“I think the biggest factor is going to be probably people wanting to get out of cities and to a city of our size that has a lot to offer and has room to basically spread out and people aren’t so congested. I think it will be a very good thing for the city a size of Medicine Hat.”

For the December 2020 market trend summary from the Alberta Real Estate Association visit this link.

And as far as real estate goes, Devine says Medicine Hat is probably one of the most stable places in the country.

“Due to the diversity of the city. Obviously, the oil patch has an effect on us, but the size of the city is very good, farming and ranching community, manufacturing community, we have a lot of different things going for us in this area, so it works really good for the real estate market and keeps it very stable.”

Let’s block ads! (Why?)



Source link

Continue Reading

Trending