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7 Insider Real Estate Secrets

7 Insider Real Estate Secrets

7 Insider Secrets
On Showcasing Your Home For A Successful Sale

Most prospective buyers make their decisions based on the emotional reactions they form upon first seeing your home. In fact, seasoned real estate professionals will tell you that even the smallest detail can be an important deciding factor, especially in a competitive market. The key to getting a buyer interested in your home — and getting them to place an offer that reflects its top value — is helping that prospective buyer feel comfortable while viewing your property. You want them to establish a connection from the moment they drive up to your home. And once they’ve viewed the inside, you want them to see themselves living comfortably in it.

Too many home sellers underestimate the power of this emotional response. As a result, they see competing homes down the street get the “Just-Sold” signs, while their own real estate investment languishes on the market, not getting offers worthy of its value. How can you avoid having this happen to you? Read on.

Research & Strategize
Knowing exactly what you have to work with will go a long way toward helping you form a strategy to achieve your real estate goals. First, you need to educate yourself on everything that can affect the sale of your home and which elements you can actually control. Obviously, it’s impossible to control everything, but there are some changes you can initiate, and these may make all the difference.
To help you gain a realistic perspective, here are a few factors to consider when reviewing your property:
• Property location
• The prevailing market conditions
• Whether you’ve hired a professional real estate agent to help you
• The number of desirable features within your home and how well they are displayed
• The overall condition of your home
While some of these things cannot be controlled by the home seller—such as location and market conditions—other factors can. It is important to remember that even the most subtle of differences can play an important role in properly showcasing your home so that it inspires buyers to place an offer on it.

What is Showcasing?

When you open your doors to prospective buyers, whether at an open house or a private showing, you are showcasing your home. Your home, like it or not, is in the spotlight. This is where you want it to shine. Ideally, your home should stand out in the minds of prospective buyers. You want it to be a star. If there are five homes for sale in your immediate area, you want yours to leave the best impression.

Here are 7 simple strategies and secrets
designed to give your home the edge it needs in a competitive market.

1.Curb Appeal
While you can’t change your location, you can change how your home shines in that location. The more you make your home shine, the less location will play a role in the buyer’s decision to place an offer for it. Why not make your front yard look like one of the best on the block? It isn’t as costly as you might think, and it is extremely important that your home stand out. Your front yard will be the first thing prospective buyers see when they drive up, and it will help form the first impressions they have about your property. This sets the tone for their entire visit, so make it a good one.
Here are some tips on how to maximize your home’s appeal:
Insider Secret: Add color to your walk way with a few blooming flowers to promote a fresh, cheerful feel in the yard.

• Clear the yard of any debris. Selectively prune overgrown trees and bushes. While you might not have the money to cut down a large number of trees, you can clear out as much of the debris as possible. Cleaning this out will give the yard a larger look and will keep the buyer from feeling like the area is chaotic and in need of a lot of work.
• Plant colorful flowers along the walkway or up close to your front door. Replacing your dead plant life with a few blooms will go a long way toward setting up a pleasant first impression. It doesn’t need to be extensive—in fact, it is better that it not be—just add enough to give the impression of a healthy landscape with a few dashes of cheerful color.
• Touch up the paint around your door frame and windowsills. Cracked or flaking paint gives the impression that the house is old and in disrepair. The buyer then thinks there will be other things wrong with the property. Bigger things. Scarier things. Don’t let their minds wander down that path. A buyer’s perception of your home is important. Take the time to do the little aesthetic touch-ups that will make all the difference in what you get for an asking price.
• Present an over-all neat appearance. Sweep the walkway, remove cobwebs, clean the windows and screens, and put away all the kids’ toys. First impressions count, and you want your home to have the look of a clean, welcome place to live. Take the time to walk through your front yard and look at it with a fresh pair of eyes. Pay attention to all the little details you might not notice from day to day and address anything that may look like it could trouble a buyer.
• Ask your real estate professional for their honest opinion: Does your house stack up against the other properties in the neighborhood? Your agent can offer you the best of both worlds when it comes to an unbiased opinion. Not only do they have that valuable third-party perspective you need, but they also have insider information on what is really important to most buyers. A professional will know what makes buyers gravitate toward a property and will share ideas of how to showcase your home’s appeal.
2.Take Yourself Out of the Equation
You don’t have to move out. Just be aware that effective showcasing is designed to present the buyer with a clean slate onto which they can project their own personal style. They must be able to see themselves living in your house. The best way to achieve this is to take as much of you and your personality out of it. This is not as easy as it seems, because you’ve probably spent several years adding little touches and other changes that personalize your place to make it a “home.”
Here are some simple, cost-efficient ways you can help prospective buyers envision their own things in your home, and inspire them to make an offer:
Insider Secret: To avoid distractions, arrange to have any pets removed from the property while you are showing your home.

• Remove all the family photos off the walls and store them in an out-of-the-way place. This doesn’t mean you have to take them ALL down, but you should limit them to just a select few. That infamous hallway lined with pictures of the kids might be a trip down memory lane for you, but it’s a roadblock for a potential buyer. For someone viewing your home, it’s either an opportunity to laugh at the dated looks throughout the years, or it inspires the uneasy feeling of walking into someone’s private world that wasn’t meant for their viewing. You don’t want the buyer to feel inhibited and possibly keep them from forming an emotional attachment to your property. Remember, the main goal in effectively showcasing your home is to provide the buyer with a blank canvas. They cannot do this if you have too many of your own personal touches placed around the house. When in doubt, ask your real estate professional his/her opinion if you should remove a picture or personal memento.
• Don’t crowd your potential buyer. During an open house or private showing, allow them to move freely with their real estate agent from room to room without your presence. Not only does this person feel uncomfortable trudging through your home, but knowing you are on the premises makes them feel even more ill at ease. Typically, buyers like to share their thoughts and impressions with their agent and the family members accompanying them. This is good. However, when they know you’re in the house, they either refrain from sharing impressions, or they feel they have to whisper or wait until they leave to talk. By then they’ve forgotten the points they liked about your home, or they only focus on the bad things they didn’t like. The goal is to make the prospective buyer feel comfortable. Your presence in the home is in direct conflict with this goal.
Granted, when dealing with a private showing and not in an open house situation, it may not be easy to simply walk away from your home and turn it over to complete strangers. One strategy is to make yourself scarce—that is, you might step outside in the backyard while your prospective buyer is viewing the interior, and vice versa.
• Keep the kids and all pets out of the buyer’s way. Even if you have well-behaved children and Fido has attended obedience school, they can still be a distraction and keep the buyer from bonding with your home. If you can’t arrange for them to be out on a walk, keep them busy in one room so they do not follow the buyer around as they view the property.

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3.Creating A Clean Slate With Clutter Control
Sometimes, a clean house still doesn’t look clean. Your home may be spotless, counters clean, corners dust-free—but if you still have clutter, it can still look unkempt to a buyer. Worse yet, you may give the impression that the living quarters are cramped and lack storage space. Remember, the buyer must be able to visualize all of their things fitting into your home.
Here are some things you can do to showcase your home so it looks its very best:
Insider Secret: Invest in a storage unit to keep extra furniture so that your home appears to have plenty of space.

Insider Secret: Store extra clothes in wardrobe boxes so that your closet doesn’t look over-stuffed and devoid of storage space.

Insider Secret: Giving old tile new grout is a cheap way to rejuvenate a bathroom and increase the value of your home.

• Don’t try to pack too many different pieces of furniture into one room. If you have items that you really don’t use, you may want to invest in a temporary storage unit. You want the buyer to feel there is ample space in that room for their furniture. Arrange all furniture so that there are clear pathways and ample space to get by large items such as couches and tables. Packing it full of different chairs, end tables and decorative items closes the room in, giving the impression of a small living space. However, the other extreme isn’t good either. Sometimes you have to move quickly and, as a result, the house is empty of furniture. An empty home can look just as uninviting as a crowded one. If you are able to, leave several pieces of furniture behind to add to your home’s appeal.
• Weed out all clothing that you’re not wearing on a regular basis, remove it from your closet and pack it away out of sight. You may even want to purchase several wardrobe boxes and store them in the garage or in a storage unit. An over-stuffed closet leaves buyers with the impression that there isn’t enough storage space. Make sure the shelves and various other storage options are organized and clean.
• Keep all children’s toys organized with a toy box or within cabinets. The more you can put these things away where they are not immediately visible, the better. If you can see various items packed into shelves, it promotes a congestive, chaotic feel in that room. You don’t want the buyer to feel claustrophobic. You want them to only focus on the attractive comfort of your property, not to think about how the walls are closing in.
• Refresh what once looked old or run down. While cleaning your house and preparing it for viewing, take care to scrub out all hard water stains in the bathroom and kitchen. These make the tiles and appliances appear old or dated. Lime, calcium and rust stains can be removed by cleansers specially designed for such use, and the results are often remarkable. If you find that the grout between the tiles is severely stained or cracked and you are unable to clean it, you may want to consider removing and replacing it with new grout to give the tiles a fresher look. Nothing should look old or worn down. Fixtures that do—lights, faucets or flooring—will drive down the sale price of your home. The buyer will automatically assume they will need to put money into improving these things and will price their offer accordingly.

4.The Importance of Ambiance
Preparing for an open house or a private viewing is a bit like getting ready for a hot date. You want to make the best impression possible. This means, taking care of all those little details that make the other person feel at ease so they fall in love with your house.
Here are a few tips to put into play when preparing for potential home buyers:
Insider Secret: Place a radio in each room and set it on a light jazz station. Keep the volume low, adding just enough music to provide ambiance, but not so much that it’s a distraction.

Insider Secret: Using a professional stager can give you an additional edge in a cooling market where buyers are calling the shots. This is especially true if you are selling a luxury property.

• Entice their sense of smell. While scented candles are nice, they often give off fumes that can aggravate sensitive sinuses, not to mention stain the walls. A better solution would be to use a lightly-scented potpourri or cinnamon sticks. You might even consider baking cookies so that there is a pleasant, homey smell enticing the buyer when they first enter. Studies show that memories are actually stimulated by our sense of smell. So, inspiring thoughts of home, hearth and comfort with a little spice is a good thing. Just don’t go overboard, or you might end up chasing potential buyers out if the scent gets too overpowering.
• Eliminate unpleasant odor sources. Limit pets and their litter boxes from the main areas of your home during viewings. Open the windows whenever possible to air out places where odors normally reside. Don’t go overboard with odor-masking sprays, as this can backfire and call attention to the odor rather than eliminating it.
• Add music to their ears. Light, relaxing mood music played at a low volume can enhance your potential buyer’s perception of your property. Place a radio in each room so that those viewing your house will hear soothing sounds as they move throughout. Make sure to play it quietly on a soft jazz station so that it is only an accent, and not a distraction when buyers tour each room.
• Consider hiring a professional stager. These are specialists with interior design skills who come in and actually rearrange your furniture. They design your home to make it more appealing to buyers. Although real estate professionals are more than capable of giving you insider secrets to sell your home for top dollar—and some even have interior design skills themselves—they also have access to professional stagers who can give your property an additional edge.
In a competitive market where buyers are calling the shots, a professional stager can help you present a polished home to attract multiple offers. Speak with your real estate professional and ask them to help you determine if hiring a professional stager makes sense within your budget. If it looks like you can make the money for hiring a stager back through a better sale price and gain a substantial profit from it, then it is definitely worth the money spent. This is especially true if you have a luxury home, where buyers will expect a high-end appearance. If luxury buyers are the demographic that will be viewing your property, you need to remember that their tastes are a great deal more discriminating. So you need every competitive edge you can get.
5.Accentuate the Positive
Chances are that, each buyer who comes through your front door is looking at multiple properties. You need to clearly and accurately set your property apart from the competition. By the end of the day, that buyer might not even remember which property had the features they really liked the best. That’s why you should consider creating a brief, informational sheet that calls out all the special features within your home.
Here is where your agent’s expertise really pays off. Agents are with buyers all day, every day. They know exactly what most buyers have on their wish lists, and they know what features you should call out and list toward the top of your one-page flier. Keep in mind that you don’t want to list everything. What one person sees as an appealing feature, another might consider a detriment. Ask your agent to help you list just the best features to showcase.
Here are a few things to keep in mind while creating your informational flier:
Insider Secret: Work with your real estate professional to create a short, concise informational flier that displays all of your home’s attractive features.

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• First and foremost, listen to your real estate professional. Not only do they have the expertise you need to maximize your home’s positive attributes, they are also a valuable source for that much-needed reality check. Your agent is with buyers every day. They know who is buying and what they are looking for. They can tell you what features your home has that will be highly desirable in today’s market. The upgrades that you’ve made might be appealing to you, but your agent will know if they’ll appeal to a potential buyer.
• Make your feature sheet short and concise. A buyer will not care if you spent thousands of dollars to put in the new tiles in the bathroom. They will only care that the tiles are new and a color they like. Keep in mind, those tiles might not be that buyer’s taste. They may actually want to rip it out if they buy the house.
• List all new fixtures and functional items. If you just put a new roof on the house, installed a new water heater, updated the central air system or added new plumbing, these are things to draw attention to. New fixtures mean that the buyer won’t have to worry about them breaking down any time soon. That’s very appealing.
• Don’t get too attached to your decorative upgrades. These are all a matter of taste. You can list some small details— such as crown molding, new rugs and hardwood floors—but keep in mind that a home’s beauty is still very much a matter of personal taste.
• If you are leaving the refrigerator and the washer and dryer with the house, mention that. All of these things are a plus to a new home buyer who might not already own them. These are one less thing they have to worry about buying if they decide to purchase your house versus another that might not come with such amenities.

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6.When Coloring Perceptions, Be Neutral
Everyone loves color. The problem is, everyone loves different KINDS of color. Therefore, when preparing your home to sell, you need to adjust your home’s color scheme to a more neutral palette. The goal is to make it easy for the buyer to see their own belongings within your home. If you have bright walls and all of their furniture is understated, they are not going to see your home as a match for them. It just won’t meet their style. Seeing a neutral color on the walls provides that buyer with the blank slate they need to imagine their own possessions within your home. It allows them the opportunity to form that important attachment.
Here are some easy, inexpensive ways to adjust the colors in your home and prepare it for sale:
Insider Secret: A neutral paint color will go a long way toward making a room look like it could accommodate any decorative style the buyer might prefer.

• Walk through your home and take inventory of all the walls that are painted and what color they are. Ultimately, you want to paint each room a light tan or off white, but first you need to prioritize. The first room your potential buyer will see is the first you should adjust, and the one you should pay a great deal of attention to. A can of primer and some neutral-colored paint will go a long way toward making that room look like it could accommodate any decorative style the buyer might prefer.
• Consider Removing all wallpaper. Yes, even the cute stuff in the baby’s room. Wallpaper is a huge roadblock to new buyers because it has your personal style stamped all over it. If you’re experienced in doing this kind of thing yourself, go for it. If not, hire a professional. You don’t want to maul a room in the process of trying to improve it. The small amount of money you put into hiring a professional to remove your wall paper, sand down the area and paint it a neutral tone will be returned to you in the end when you sell. You are only going to get top dollar for a home that is in top selling form.
• Use paint to accent features you want to stand out. If your rooms have crown molding, paint the molding a slightly lighter hue than the wall. White molding will really stand out against the contrast of a sand- or tan-colored wall. This will automatically draw a buyer’s eye to that feature. Similarly, painting the area above a fireplace with a slightly deeper shade of tan will help that area really pop out to the buyer when they enter the room. This is what interior designers call making it “the focal point of a room,” and it is what good real estate agents know can be a money maker for the seller.
• Pay special attention to smaller rooms, as color and presentation there are very important. If you’ve painted your small, second bedroom a deep red, this will actually make it look cramped. Dark colors tend to close in a space. A light, neutral color will actually open up the room and make it appear larger than it really is.

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7.Go With A Pro
Even though today’s home seller has access to more information than sellers in the past, you should still think twice when selling your home without the help of a real estate professional. Placing a home on the market is a full-time job that requires the experience, time and expertise to help make the most of that sale. According to the National Association of Realtors,® two-thirds of people who have sold their homes themselves say they would not do so again.
Why? Money.
Simply put, having a Realtor® could get you more money in the long run, even when it means handing over a small portion of the sale. Real estate professionals know what home buyers are looking for and can help your home stand out, especially in a cooling market.
Here are just a few of the reasons why you should hire a real estate expert to help your home stand out:
Insider Secret: In a competitive market, working with a real estate professional who can provide you with insider secrets gives you the additional edge you need to make the most of your home sale.

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• Let your home shine. Getting more money for your property isn’t just about knowing the market and advertising your home. It’s about knowing what will make your home stand out and helping it outshine the competition. This is especially true when selling a home in a buyer’s market. Every additional edge helps, and your agent can help you display your home at its best.
• Realtors® know exactly what home buyers are looking for in today’s market. They have a good handle on what your home can sell for and what buyers really want in a home. Remember, they are out there dealing with the market every day. They know who’s buying and what entices them into making an offer. Before placing your home on the market, most agents will walk through it with you to get a feel for any adjustments that need to be made so that your home is showcased to inspire offers. This kind of insight is invaluable, and will get you more money for your home in the end.
• A real estate agent provides a buffer between the seller and the buyer. Selling your home is an emotional time. It isn’t necessarily a time you want to be haggling over the value of your house and all the memories you have wrapped up in it. In most cases, it’s good to have someone else do the tough negotiation for you. Without their assistance, you are much like a ship at sea without an anchor. There is nothing to stabilize you and provide that needed reality check when things get emotional. A Realtor® knows how to keep things moving forward in a productive way, and ultimately helps you make the most of your real estate investment.
Be Prepared
Preparing your home for sale can be a daunting task, but with the help of your real estate professional and the insider secrets they have to share, it can be done quickly and easily. The most important thing to remember is that the better you display your property, the more money it will sell for. Let your agent help showcase your home so that it really stands out against the competition of today’s market. Make the effort now, and you will soon reap the rewards when you cash in on your real estate investment.

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Home Buyers: How to avoid paying too much

Home Buyers: How to avoid paying too much

Home Buyers: How To Avoid Paying Too Much
A Simple Guide To Help Avoid Overpaying For Your Home.

SIMPLY PUT, PAYING TOO MUCH CAN JEOPARDIZE THE INTEGRITY OF YOUR INVESTMENT. HERE’S VITAL INFORMATION TO HELP YOU AVOID OVERPAYING FOR YOUR HOME.

A Special Report Prepared By

Home Buyers: How To Avoid Paying Too Much

Whether you’re a first-time buyer or an old pro at the real estate game, buying a home can be a daunting process. It’s an emotional time filled with difficult choices—and each decision you make has money riding on it.

Finding the right home to meet your family’s needs is hard enough. But knowing how to avoid paying too much for that home once you’ve found it is another job entirely.
As someone who has helped countless buyers find their dream homes and save money at the same time, I’ve developed this guide to help you avoid the pitfalls inherent in the home-buying process. I’ll show you not only how to make sure you’ve found the right home, but also how to negotiate a price to your advantage.
In today’s complex, fast-paced market, you can’t afford to learn these lessons through trial and error. The tips contained in this report will go a long way toward making you a savvy buyer.

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Tip No. 1
Know what you’re shopping for before you start.
Before you begin shopping, understand that there are two homes out there vying for your interest—the one that meets your needs vs. the one that fulfills your desires. In a perfect world, you’d find a home that satisfies both. But since this isn’t a perfect world, you’re going to find yourself confronted with choices.
Do you choose the three-bedroom home with room for your family to grow, or the one with the big back yard and deck that’s perfect for entertaining? Is having a big kitchen more important to you than a few extra rooms?
When you start shopping, you’re going to find homes you fall in love with for different reasons. That’s why you should list the features you want before you start shopping. Use the form provided at the back of this report and break your list into two categories—“Needs” and “Desires”—and prioritize the items you come up with.
Understanding what you really need as opposed to what you’d like to have will help you keep your priorities straight as you shop around. I’ve seen people fall in love with a home for the wrong reasons, then regret their purchase when the home fails to meet their needs.
Don’t let emotion cloud your judgement. Satisfy your needs first. If you find a home that meets your needs and fulfills some of your desires, so much the better. The important thing is to know the difference before you get caught up in the excitement of the hunt.

Tip No. 2
Shop for a mortgage before you shop for a home.
Getting a loan preapproval is the smart way to shop for a home. It tells sellers that you’re a serious prospect, and you know in advance the maximum mortgage you can afford. Make sure you get a commitment in writing. I’ve seen many buyers make the mistake of learning what they qualify for but not getting that preapproval in writing.
The good news is that it’s easier than ever to qualify for a home loan. Lenders have modified qualification rules and created programs designed to help people even if they have problems in their credit or employment histories. Many programs call for dramatically reduced down payments—the biggest obstacle for first-time home buyers in particular.

Many programs call for dramatically reduced down payments—the biggest obstacle for first-time home buyers in particular.

Tip No. 3
Pick a winning team to help you.
From picking a mortgage to finding the right home to inspections to negotiating the best deal, it can be exhausting for even the hardiest souls. That’s why most people have a Realtor® in their corner.
A good agent has the knowledge and experience that come from years of helping both buyers and sellers. He or she also has a team of other professionals to put at your disposal—lenders, lawyers, home inspectors, movers, etc.
Most sellers you encounter are certainly going to have professionals in their corner. Having a pro on your team is the best way to make sure you get the best deal possible.

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Tip No. 4
Make sure your Realtor® knows what you are looking for.
Once you have a clear, detailed picture of the home you want, make sure your agent has the same picture. This communication is critical. Otherwise, you’ll both waste your time looking at homes you’re really not interested in. Also, make sure your Realtor® knows your priorities. Your shared goal is to find a place that meets all of your needs; your Realtor® will then try to satisfy as many of your desires as possible.
A good Realtor® will ask you several questions about what you’re looking for and what you can afford. And they’ll listen carefully to your answers.

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Tip No. 5
It’s a cliché, but…location, location, location.
The desirability and resale value of your home-to-be depend on location more than any other single factor. Again, don’t let emotion get in the way of a wise investment. No home is an island, and the value of yours is affected by the homes that surround it.
Assuming you’ve already considered the elements that make up a desirable community—character, quality of schools, access to work places and services, recreational facilities, etc.—there are several elements that combine to create a good location.
Your first consideration is the neighborhood. Every neighborhood has its own unique character; you need to make sure you’d be comfortable in the one you’re thinking of living in. Take a long walk and observe carefully. Do people take care of their yards and homes? Are the yards fenced? Do children play in the streets? Talk to the neighbors and ask questions that give you a better feel for the area. But be careful not to appear judgmental—you might be talking to a future neighbor.

If the neighborhood is to your satisfaction, look at homes on the market in the area. Extremely large homes surrounded by smaller ones tend to appreciate less than a large home among other large homes. Conversely, the smallest home in the neighborhood tends to be “pulled up” by the other homes on the block. However, it might take longer to sell a smaller home when the time comes because many people are unwilling to pay extra for the neighborhood.
The outer edge of a neighborhood is usually not good for resale value. There are noticeable dividing lines between unlike neighborhoods. It could be a difference in architectural styles, home size, property use or something else. Look for a home in the middle of a community of similar homes; it will hold its value better.
An exception to this rule is a house on the edge of a neighborhood bounded by woods, park land, a golf course or other open space. Natural boundaries appeal to buyers, and these “edge” homes can actually command a better price. Of course, the exception to this rule is when there’s an unpleasant use planned for the open space. An open field with a babbling brook is nice; a new freeway, strip mall or factory isn’t.
Other things that can negatively affect property values are traffic, sounds, smells, etc. Be sure to give the neighborhood a long, hard look. The home you’re interested in may be perfect, but if the neighborhood has problems, your investment won’t be worth as much when the time comes to sell.

Tip No. 6
Use your agent to narrow the prospect list.
A good agent brings to the table an in-depth knowledge of the current housing inventory in his or her area, and continually updates that knowledge by touring homes as they are placed on the market. This is to your advantage. Trying to personally see every available home that might fit your needs would be an overwhelming process. If you are thorough in communicating your needs and what you can realistically afford, then your agent can help you narrow down the list of prospective homes to those that best suit your needs. This will save you much time and energy.
When the time comes to settle on one home, you can do it with the confidence that you’ve made a well-informed choice.

A complete working knowledge of the available homes in your area is your Realtor’s® strongest asset. He or she updates this list every week.

Tip No. 7
Show a little interest in everything you see.
As you tour the homes on your “short list,” find something to admire in each one. If you don’t show any interest until you’ve finally fallen in love with a home, then you’ve just put yourself at a competitive disadvantage. Never let anyone know how badly you want a home—it will cost you money!

Tip No. 8
Shop with your head, not your heart.
Don’t forget the purpose of your “Needs” and “Desires” lists. Shopping for a home is an emotional process. Your heart will cost you money; using your head will save it.

Tip No. 9
Don’t ignore red flags when evaluating a home’s pluses and minuses.
When evaluating the advantages and drawbacks of a particular property, be sure you know the difference between acceptable and unacceptable problems.
Some issues—peeling paint, worn carpeting, ugly wallpaper—are cosmetic and can be easily remedied. In fact, you can use these “problems” during negotiations to lower the asking price—after all, you’ll need to spend money to bring the house up to snuff. Make careful note of what you see that can be used to your advantage. Don’t nit-pick, however—if taken to extremes, you could end up alienating the seller and creating a hostile atmosphere.
Other problems may be warnings to walk away. Major foundation cracks, evidence of previous water damage, signs of serious dry rot or termite damage, antiquated electrical systems or plumbing—any one of these may be cause to reconsider your interest.
Don’t let a house’s positive attributes blind you to very real problems. If you do, the chances are good that you’ll end up spending much more money than you ever expected down the line.

Tip No. 10
Hire a professional home inspector.
In my experience, spending a few hundred dollars on a professional home inspection is the best investment you’ll ever make. A professional inspector brings experience in examining a great many homes, good evaluation standards and an unbiased perspective. And a written report can be an excellent negotiating tool.

A Typical Inspection Looks at:
• Foundation (slab, crawlspace, basement, etc.)
• Electrical, heating and plumbing systems
• Floors, walls and ceilings
• Attic
• Roof
• Siding and trim
• Porches, patios and decks
• Garage
• Property drainage

Make sure you accompany your inspector on the tour. You’ll learn a lot about the home you’re thinking of buying.
Once you have your evaluation, the decision to proceed is yours. A home inspector only gives you a professional opinion of the home’s condition, not advice as to whether or not you should buy.

Tip No. 11
Not all fixer-uppers are good buys.
You may be the sort of person who looks at a home in need of significant work as a challenge and an opportunity to make money. Many people have bought fixer-uppers at below-market rates, invested a little sweat equity or more than a little money on renovation, then eventually put it back on the market at a profit.
But if it isn’t priced low enough, you won’t recoup your investment of time, trouble and expense. Before you proceed, do a careful evaluation of what you’ll have to invest and consult with your Realtor® to learn what you can reasonably expect to make when you put the home back on the market. And be sure to include the unexpected—there’s no such thing as a “sure thing.”

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Tip No. 12
Choose a home with an eye toward future needs.
Buying a home is a big investment. If you can stretch a little today to buy a home that you can grow in—whether it’s having a child, running a home-based business, or having room to build an addition—do it. In the long run, it will probably be less expensive than moving up to a marginally larger home when the need does arise.

Tip No. 13
Once you’re ready to buy, move quickly.
Good properties move fast. Once you’ve made up your mind to buy a home and you’ve lined up your Realtor,® be prepared to make decisions quickly. If you find the right home today but aren’t ready to buy until tomorrow, you may already be too late.

Tip No. 14
Clarify who your agent is.
Make sure you know who the agent you’re talking to represents. Any agent has a responsibility to be open and honest with you and to let you know who he or she represents—the buyer, the seller or both.

Tip No. 15
Ask for a written comparative analysis.
One way to ensure that you don’t offer too much for a home is to ask your agent to prepare a written comparative market analysis. A CMA will show you the sale prices of comparable homes in the neighborhood. It also lists the asking prices of other homes in the area currently on the market.
You may find that the asking price is above what comparable homes in the neighborhood are actually selling for. Or you might even find another home in the area that’s a better bargain. When you make an offer, you can use the CMA as evidence to show the seller why you believe your offer is a reasonable one.

Tip No. 16
Learn as much as you can about the seller’s situation.
It’s true what they say: Knowledge is power. The reasons behind a sale can often be used to your competitive advantage during negotiations. For example, a seller whose company has transferred him to another city is probably more motivated to sell than someone who is still looking for a new home.

Other signs of a motivated seller include a vacant house, or a house that’s been on the market for several months with several reductions in the asking price.

Tip No. 17
Keep your own situation to yourself.
Information can be used against you as well. How much you’re willing to spend, the size of mortgage you can afford, your move-in deadline—it all can be used to extract more money out of your pocket. Be sure to tell your agent everything he or she needs to know to be effective on your behalf—how much you have for a down payment, the size of the mortgage you can afford, etc. However, keep your personal circumstances and timeline to yourself.

Tip No. 18
Use time to your advantage.
Just as you have a time frame in which you wish to buy, the seller almost certainly has a deadline of his own. If you can learn the seller’s deadline, it’s another piece of information that can be used to negotiate a better deal.

Tip No. 19
Check your emotions at the door during negotiations.
One of the costliest mistakes you can make is letting the sellers know how much you love their home. Once you’ve let it slip, you can just about forget about negotiating the price—the other side knows how motivated you are. In fact, a seller may see it as an opportunity to squeeze a little more money out of you even when you’ve made a good offer to start.
No matter how wonderful a home is, no matter how much you want it, keep it to yourself.

Tip No. 20
Don’t be pressured into a quick deal if it doesn’t feel right.
While you want to move expeditiously once you’re in negotiations, don’t let the other side pressure you into a quick close. It may be a sign that there’s something you should know, but don’t. And the reason could be worth money.

Tip No. 21
Don’t be afraid to negotiate.
You may be the type of person who prefers a hard-and-fast price tag on everything. “I don’t like to haggle,” you say. But negotiation is the key to getting a good deal. If your goal is to get the best home possible for the least amount of money, then you had better be prepared to play.

Tip No. 22
Stay out of bidding wars.
Sometimes, the seller’s Realtor® will try to scare a hesitant buyer with the threat of another serious potential buyer. Don’t fall into this trap—it will only cost you money. If there is another buyer, then the seller’s agent will try to get a bidding war going. In these situations, whoever wins also loses because the buyer ends up overpaying.
If there isn’t another buyer, there’s a good chance that “the other deal” will fall through and the seller’s agent will come calling. Be sure to let the other side know that you might be interested if that happens before you walk away.

Tip No. 23
Make sure you get a written disclosure of all known defects.
The good news for buyers is that the law now requires sellers to make complete disclosure of known material defects. Make sure you get it in writing. And carefully consider how these defects might affect what you’re willing to pay.

Tip No. 24
Know your hidden costs.
There’s more to buying a home than the mortgage. Don’t forget to factor in mortgage insurance, appraisal fees, inspection fees, transfer taxes, title insurance and every other dollar you’ll have to spend in order to know what you’re really paying for your new home.

A word of advice is to be aware of additional costs above and beyond the final negotiated price of your home. Know how much you are really paying for your new home.

Now, armed with this knowledge, you stand a much better chance of avoiding overpaying for your home.
As you can imagine, there is no learning curve that forgives mistakes made during the home-buying process. If I had to choose only one tip from the several I just listed, it would be this: Get yourself a good Realtor®—someone whose sole interest in the deal is to watch out for your interests. If you take this advice, the rest will follow. A truly sharp agent will make sure that you follow all of the other suggestions I’ve included in this report. And please feel free to use the checklist I’ve supplied with this report to help in your home search.

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Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provides the information you need to be an informed home seller……

Do you have a home clutter zone?

Do You Have a Clutter Zone?

If you’ve got pockets of physical clutter in your space and you have been ignoring it for a while – it’s my opinion that your clutter is keeping you on the “other” side of the line of success.  If I’m standing here and want to write a book, find a relationship, lose weight, travel the world, or attempt a singing career, the easiest way is to “walk” across the line.” But if on that line we have a physical barrier called clutter – it acts as a “fence” and the clutter literally keeps us corralled where we are. We cannot move beyond the fence – clutter can immobilize us permanently.  It’s now time to really consider whether we want to be fenced in by our stuff or whether we want to remove the fence of clutter and start experiencing life.

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If you have a clutter zone in your space  – what do you see? What statement best describes the following areas of your home? (Circle the answer or jot down the number that best applies to you.)

Living Area
1. Very neat and tidy
2. Few papers lying around but other than that fine
3. Happily cluttered
4. Very messy
5. Let’s just say I don’t invite others over for fear of embarrassment

Kitchen
1. Clean pots and pans  as soon as you use them.
2. Clean pots and pans after dinner.
3. Clean pots and pans the next morning.
4. Clean pots and pans the next time you need to use them.

Dining Room Table 
1. Clean the table every day.
2. Clean the table once a week.
3. Clean the table when it gets messy.
4. Clean the table when I can’t find something.
5. Clean the table when my friends are coming over.

As you might guess, the more 4s and 5s you have written down suggests that you may need to implement some organizing solutions or even find an accountability partner to help you get organized. Remember, it’s the awareness and the honesty about your situation that eventually allows you to take action.

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We just looked at 3 areas – but you know there is the attic, closets, garage, office, playroom, guestroom, storage shed, pantry, bathroom, and more.   I would like for you to think about one clutter zone in your home right now.

Now think about the “stuff” in that space. If only your clutter could talk! What would it say about you? My friend Brian Scudamore who is the CEO of 1800GotJunk, has a belief that “you are what you cannot get rid of.”  Think about your space for a moment.

Vijay’s New Website!

Vijay’s New Website!

Our New Website is Here!

Thank you for stopping by the check out our new website. We will continue to add to and improve this website as we go. Our goal is to have a user-friendly space for you to easily find what you are looking for.

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Home Sales Surge in June

The British Columbia Real Estate Association (BCREA) reports that a total of 8,989 residential sales were recorded by the Multiple Listing Service® (MLS®) in June, up 24.9 per cent from June 2013. Total sales dollar volume was $5 billion, an increase of 30.5 per cent compared to a year ago. The average MLS® residential price in the province rose to $556,977, up 4.5 per cent from the same month last year.

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“Home sales finished the second quarter on an upward trend,” said Cameron Muir, BCREA Chief Economist. “The increase in provincial housing demand was broad-based, with the largest year-over-year increases occurring in the Okanagan, the Kootenays and Chilliwack.”

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Home sales climbed 46 per cent in the South Okanagan and nearly 30 per cent in the Okanagan Mainline Real Estate Board area. In addition, home sales rose 36 per cent in the Kootenays and 33 per cent in Chilliwack compared to the same month last year.

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“Market conditions also continued to improve, with the Okanagan and the Lower Mainland even flirting with sellers’ market conditions,” added Muir.

DDuring the half of the year, BC’s residential sales dollar volume was up nearly 26.8 per cent to $23.8 billion, compared to the same period last year. Residential unit sales were up 18.5 per cent to 41,883 units, while the average MLS® residential price was up 7 per cent at $568,499.

Are you looking for a new apartment for rent?

Come to the open house Sunday, July 27th, 2014, 472 Winnipeg St, Penticton, BC, from 1pm-4pm.

Singla Brothers is now accepting rental applications for our BEAUTIFUL NEW building at 472 Winnipeg Street.

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Singla Brothers has been in business in the City of Penticton since 1973. From their first building until now, they have grown from one development to a group of five companies which now encompasses property development, rentals, and excavating services.

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Moving forward the Singla Group of Companies wants to further develop their forward thinking designs on new developments and continue to add innovative, aesthetically pleasing designs in both their buildings and landscaping and will endeavour to utilize more green friendly products.

50 Ways to Save Energy in your Home

50 Ways to Save Energy in your Home

50 Ways to Save Energy & Money Around Your Home

Recent power outages in North America are a reminder of how extensively we depend on electricity to function. Among other things, it provides light and heat, keeps our food cool and brings the world into our homes through our televisions and computers. As the demand for power has increased, so has the incidence of blackouts and price increases in some parts of the country. Homeowners have a strong incentive to save energy and money but often don’t know where to start. The following are some simple ways to plug the ‘money drains’ around your home.

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50 Energy Saving Tips

  1. Keep your hot water thermostat set at 110-120 C (most are set at 140 C).
  2. Install an automatic timer so that water is heated only during the hours needed.
  3. Wash clothing in cold or warm water rather than hot water.
  4. Insulate your water heater with a fire resistant water heater blanket.
  5. Install an aerator on your kitchen sink faucet to save on hot water.
  6. Reduce water usage by installing a low-flow showerhead.
  7. “Suds savers” on washers allow you to reuse hot water for multiple loads.
  8. Consider heating your pool (and your home) with solar heat.
  9. Close off the attic, garage, basement, spare bedrooms, storage areas, etc.
  10. Insulate floors over unheated spaces such as crawl spaces and the garage.
  11. Install storm doors before cold weather arrives.
  12. Repair cracks and gaps in window seals (the putty around the glass).
  13. Seal gaps around water pipes where cold air may enter the room.
  14. If you have single pane windows, upgrade to energy efficient double panes.
  15. Don’t forget to weather-strip your attic door to prevent heat from escaping.
  16. Remind your children to close the door immediately upon entering or exiting.
  17. Repair cracks and gaps in your fireplace.
  18. Remove awnings from south-facing windows during winter months.
  19. Open draperies and shades in winter to let in sunshine then close them at night.
  20. Use insulating window film to keep heat from escaping to the outdoors.
  21. Plant leafy deciduous trees on the sunny side of your house – the leaves will provide shade in the summer and drop to allow sun through in the winter.
  22. Plant coniferous trees (e.g. fir, pine) on the north and west side of your home to block cold winds.
  23. Choose pots and pans that match the element size so that heat is not wasted.
  24. Cook with lids on your pots – food will heat more evenly and you will be able to lower the heat setting.
  25. Plan ahead so that an entire meal can be prepared in the oven at same time.
  26. Cook desserts and baked goods in the oven along with meals.
  27. Thaw frozen foods in the refrigerator before cooking.
  28. Turn off the oven 5 minutes early – it will remain hot long enough to complete the job if the door is left closed.
  29. Don’t peek in the oven during cooking -approximately 25% of the heat escapes.
  30. Use a toaster oven rather than your regular oven to cook small items.
  31. Run the dishwasher only when it is full.
  32. Don’t overfill the refrigerator, as this blocks air circulation. Conversely, a full freezer will perform better than an empty one.
  33. Don’t place your refrigerator or freezer in direct sunlight.
  34. Leave a gap of at least 6cm between the refrigerator coils and the wall.
  35. Defrost your freezer regularly for maximum efficiency.
  36. Clean the refrigerator’s air intake grill (below the doors) and coils every 6 months.
  37. Allow hot foods to cool for up to 20 minutes before putting them in the refrigerator.
  38. Choose a temperature setting for your freezer that is adequate and not overly cold.
  39. Use task lighting where you need it rather than illuminating an entire room.
  40. Compact florescent bulbs use approximately 75% less energy than incandescent bulbs and last longer.*
  41. Turn off lights whenever you leave a room or don’t need them.
  42. Use a motion sensor light rather than leaving an outdoor light on all night.
  43. Open up the curtains for light. If privacy is an issue, try sheers or reflective film.
  44. Wash your clothes in cold or warm water rather than hot water.
  45. Rinsing in cold water saves energy and reduces wrinkles.
  46. Wait until you have a full load to do a wash.
  47. Dry consecutive loads to utilize otherwise wasted heat from the dryer.
  48. Clean the lint filter after every load – a clogged filter can increase energy consumption and can be a fire hazard.
  49. Check the EnerGuide labels when you shop for appliances – the lower the kilowatt/hour number shown, the more efficient the appliance.
  50. Front-loading washers use roughly half the water per load and are more effective at squeezing the water out of the clothes – which lowers the electricity costs for drying them.

Saving energy and money doesn’t require a drastic change in lifestyle. Even small changes around our homes can make a big difference.

* Compact florescent bulbs last up to eight times longer than incandescent bulbs and use up to 75% less energy. If every household in British Columbia replaced just two regular incandescent bulbs with compact florescent bulbs, enough energy would be saved to provide the electricity needs of 21,000 homes each year. (Source: BC Hydro)

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29 Essential Tips That Get Homes Sold Fast

29 Essential Tips That Get Homes Sold Fast (And
For Top Dollar)

SELLING YOUR HOME CAN AFFECT YOUR VERY FINANCIAL FUTURE. HERE’S INFORMATION THAT CAN HELP YOU EFFICIENTLY SELL YOUR HOME AND MAXIMIZE YOUR INVESTMENT.

A Special Report Prepared By

29 Essential Tips That Get Homes Sold Fast (And For Top Dollar)

Selling your home is one of the most important steps in your life. Here are 29 essential tips you must know…

For most people, selling their home means cashing in their biggest asset. In other words, it must be handled with great care if you hope to protect—and capitalize on—your investment.
This guide was written with one goal in mind: to give you the tools you need to maximize your profits, maintain control, and reduce the stress that comes with the home-selling process.

Tip No. 1 Know why you’re selling.

The reason you look closely at why you want to sell is that your motivations play an important role in the process. They affect everything from setting a price to deciding how much time and money you’ll invest to getting your home ready for selling.
For example, what’s more important to you: the money you walk away with, or the length of time your property is on the market? If your goal is a quick sale, that can dictate one kind of approach. If you want to maximize your profit, the sales process will almost certainly take longer.

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Tip No. 2 Once you know, keep it to yourself.

Your reasons will affect how you negotiate the sale of your home, but they shouldn’t be given as ammunition to the person who wants to buy it. For example, a prospective buyer who knows you must move quickly has you at their mercy in the negotiation process. When asked, simply say that your housing needs have changed. Your reasons are nobody’s business but your own.

Tip No. 3 Do your homework before setting a price.

Settling on an offering price shouldn’t be done lightly. Once you’ve set your price, you’ve told buyers the absolute maximum they have to pay for your home. The trick for the seller is to get a selling price as close to the offering price as possible. If you start out by pricing too high, you might not be taken seriously by prospective buyers and their agents. A price too low can result in selling for much less than you had hoped for.
Setting your home’s sale price can be a fairly easy process. If you live in a subdivision comprised of homes with similar or identical floor plans, built in the same time period, then all you have to do is look at recent sales in the neighborhood to give you a good ballpark figure.
But many people live in older neighborhoods that have changed quite a bit over the years. Every home in your neighborhood may be different in minor or substantial ways—the house next door may have added another bedroom, for example, or the one across the street might have been built recently to fill a vacant lot. As a neighborhood evolves over the years, you may find that there aren’t any homes that are truly comparable to your own.
If you decide to sell your home on your own, the most common way to set a value is to look at homes that have sold in your neighborhood within the past six to 12 months, as well as those now on the market. That’s certainly how prospective buyers will assess the worth of your home.
You can usually learn what homes have sold for in your neighborhood by making a quick trip to City Hall; home sale information is in the public records in most communities (but not all).
If this sounds like a lot of work, you may decide to hire a Realtor.® Your Realtor® will do all the market research and provide you with comps showing where your home should be priced to best meet your goals—a fast sell, maximum profit, etc.

A good Realtor® is attuned to nuances in the market that may not be apparent from comparable sales and listings.

Tip No. 4 Go home shopping yourself.

The best way to get to know your competition, identify features that are popular and learn what turns buyers off is to check out other open houses. Plan on spending a few weekends touring other homes on the market to learn what other sellers are asking. Be sure to make note of the floor plan, condition, appearance, size of lot, location and other features.
If you visit enough homes and pay close attention to the details (and what other “buyers” are saying), you’ll develop a good understanding of how different features affect pricing. And then you can apply what you’ve learned to the task of setting your price. But don’t forget to include in the equation what homes are actually selling for, not just simply what people are asking. And remember, if you’re serious about getting your home sold quickly, don’t be more expensive than your neighbor.

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Tip No. 5 Know when to get an appraisal.

Sometimes you can use a good appraisal to your benefit in marketing your home. And if you get a VA or FHA appraisal, you can use it to let prospective buyers know that your home can be financed. However, an appraisal costs money. It also has a limited life. And you may not like the figure you hear.

Tip No. 6 Your tax assessment means almost nothing.

Some people look to tax assessments to assign a value. The problem here is that assessments are based on a number of criteria unrelated to property values, so they often don’t necessarily reflect the true value of your home. Have you ever heard of two identical homes in the same neighborhood with dramatically different assessed values because one was purchased more recently than the other? Well, it happens quite often.

Tip No. 7 Find a good Realtor.®

Nearly two-thirds of the people who sell their own home say they wouldn’t do it themselves again, according to research by the National Association of Realtors®. Sellers surveyed point to difficulties in setting a price, marketing handicaps and liability concerns among the primary reasons they would turn to a Realtor® next time. And selling a home yourself usually eats up more time and effort than you might initially expect.
Once you understand how much work it will be to sell it yourself, talk to a Realtor® you trust even if you decide to strike out on your own. Many top professionals are more than willing to help do-it-yourself sellers with the paperwork, contracts, etc. Plus you’ll have a relationship with an agent if problems do arise that require professional help.
If you decide to work with a Realtor,® contact four or five—you probably met a few that you liked during your open house tour. Explain to each that you’re thinking about putting your home on the market and you’d like to meet to talk about pricing and marketing. By having this group “evaluation” done, you should end up with a fairly tight price range to help guide your decision. Any Realtor® who is substantially higher or lower than the group should be able to justify their estimate. Just as you should be concerned with too low of a price, beware of an agent who gives you the highest price—they may be trying to buy your listing.
A good Realtor® knows the market and your neighborhood in particular. They will supply you with information on past sales, current listings, a marketing plan, something on their own background, and references from past clients. Take the time to carefully evaluate candidates on the basis of their experience, qualifications, enthusiasm, and personality. Most importantly, make sure you choose someone who is going to put in a lot of hard work on your behalf.

Tip No. 8 Give yourself room to negotiate.

Make sure you leave yourself enough room in which to bargain. If what you ask for is unacceptable to the buyer, and their first offer is unacceptable to you, then you better make sure you have someplace to go that is acceptable to you.
Start with the absolute minimum price you would accept, then pick the price you’d get if the world were perfect. This gives you your range to keep in mind when working with your Realtor® to negotiate the sale.
In setting your asking price, review your priorities. Do you want to maximize your profit or sell quickly? You’ll price high for the former and closer to market value if the latter is the case.

Tip No. 9 Maximize your home’s sales potential.

Each year, corporate North America spends billions of dollars on product and packaging design.
The lesson here is that appearance is critical—and it would be foolish to ignore this when selling your home.
You may not be able to change your home’s location or its floor plan, but you can do a lot to improve its appearance. And you should. The look and “feel” of your home generates a greater emotional response than any other factor. You may price your home to sell, but a prospective buyer reacts to what they see, hear, feel and smell.

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Tip No. 10 Rely on other people’s judgement as well as your own.

The key to effective marketing is knowing your product’s good and bad points. In the case of your home, accentuating the good can mean a faster sale for more money; failing to deal with the bad can mean months on the market and a lower-than-desired sales price.
The biggest mistake you can make at this point is to rely solely on your own judgement. Remember this is your home, a place of fond memories. There are bound to be emotional issues that can impair your ability to make an honest assessment of your home’s strengths and weaknesses.
In evaluating what improvements you can make, don’t be shy about asking others for their opinions. But make sure you’re getting an honest answer; some may try to spare your feelings, just what you don’t need. Fortunately, your Realtor® won’t be shy in discussing what should be done to make a home more marketable.

Tip No. 11 Clean like you’ve never cleaned before.

Pick up, straighten, unclutter, scrub, scour, dust…well, you get the idea. If your living room feels crowded, take out every piece of furniture you can get away with. If your home still isn’t ready to appear in House Beautiful, then clean some more. Remember, you’re not just competing with other people’s homes—you’re going up against brand-new homes as well.

Tip No. 12 Fix everything no matter how insignificant it may appear.

The step that squeaks, the light switch that doesn’t work, the hairline crack in the bathroom mirror—they might be minor annoyances to you, but they can also be deal-killers. The problem is that you never know what will turn a buyer off. And even something minor that’s gone unattended can suggest that perhaps there are bigger, less visible problems present as well.

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Tip No. 13 Remove all traces of you from your home.

When you toured other people’s homes, you may have felt some discomfort. This probably occurred because you saw, heard or otherwise sensed something that made you feel as if you were intruding into someone’s life.
The last thing you want others to feel in visiting your home is that same sense of discomfort. Avoid this by making your home as neutral as possible. Anything that interferes with a prospective buyers’ ability to see themselves living in your home must be eliminated. A few carefully chosen knickknacks and family portraits may add warmth and character to the home, too many are a distraction. Avoid unique or trendy color schemes—paint and carpet in neutral shades of white or beige.

Tip No. 14 The little touches can make a difference.

While personal items can detract, other small touches can help make your house a home to buyers. A well-placed vase of flowers, accent pieces of sculpture, potpourri in the bathroom—all can enhance the attractiveness of your home in a subtle, soft-spoken way. Try perusing any of the home magazines for tips.

Tip No. 15 Don’t let a smell be your downfall.

Odd smells kill deals quickly. All traces of food, pet and smoking odors must be eliminated. Even when you’re sure they’re gone, don’t encourage prospective buyers to imagine things. If they know that you’re a smoker or that you have a dog, they’ll start smelling odors and seeing stains that may not even exist. Be safe—don’t leave any clues.

Tip No. 16 Disclose everything.

Smart sellers proactively go above and beyond the laws to disclose all known defects to their buyers—in writing. If the buyer knows about a problem, he can’t come back with a lawsuit later on.

Tip No. 17 The more prospects, the better.

By maximizing your home’s marketability, you’ll increase your chances of attracting more than one prospective buyer. Why is this better? Because several buyers compete with each other; a single buyer ends up competing with you.

Tip No. 18 Don’t get emotional during negotiations.

The extent of most people’s experience in the art of negotiation begins and ends at their local auto dealership. And few of us have pleasant memories of haggling with car salesmen. But if you can just let go of the emotion you’ve invested in your home and approach negotiations in a detached, businesslike manner, you’ll find the process to be a lot less painful. In fact, you might even enjoy it—and you’ll definitely have an advantage over prospective buyers who get caught up in the emotion of the situation.

Tip No. 19 Know your buyer.

In the negotiation process, your objective is to control the pace and set the duration. And the better you know your buyer, the more easily you can maintain control.
As a rule, buyers want the best property they can afford for the least amount of money. But knowing specifically what motivates your buyer enables you to negotiate more effectively. Maybe your buyer needs to move quickly. Or the maximum amount he can spend is just a little below your asking price. Knowing this information puts you in a better bargaining position.

Tip No. 20 Find out what the buyer can pay.

As soon as possible, try to find out the mortgage amount the buyer is qualified to carry and the size of his down payment. If he makes a low offer, question his Realtor® about his client’s ability to really pay what your home is worth.

Tip No. 21 Find out when the buyer would like to close.

When a buyer would “like” to close is often when they need to close. Knowing this gives you his deadline for completing negotiations—again, an advantage in negotiations.

Tip No. 22 Don’t sign a deal on your next home until you close the deal on this one.

If circumstances conspire to force you into closing on your new home while you’re still making mortgage payments on the old one, you might end up turning yourself into a seller who is eager (or desperate) for the first deal that comes along.

Tip No. 23 Don’t move out before you sell.

Studies have shown that it is more difficult to sell a home that is vacant—it looks forelorn, forgotten, simply not appealing. It could even cost you thousands. If you move, you’re also telling buyers that you have a new home and are probably motivated to sell.

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Tip No. 24 Don’t give yourself a deadline.

Forcing yourself to sell by a certain date adds unnecessary pressure and puts you at a serious disadvantage in negotiations.

Tip No. 25 Don’t take a low offer personally.

The first offer is invariably well below what you both know the buyer will end up paying for your property. Don’t get angry or feel insulted; evaluate the offer objectively. Make sure it spells out the offering price, adequate earnest money, amount of down payment, mortgage amount, a closing date and any special requests. Now you have a point from which you can negotiate.

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Tip No. 26 A really low offer may mean the buyer’s not qualified.

If you feel an offer is inadequate, now would be a good time to make sure the buyer has been qualified to carry a mortgage of the size this deal would require (if you haven’t learned this already). Ask how they arrived at their figure, then suggest their agent use comparables to establish what homes are going for in your neighborhood.

Tip No. 27 Don’t take a lowball offer seriously.

An unacceptably low offer should not be taken personally or seriously. Rather, it should be countered, even with the slightest of reductions in your asking price. This lets a buyer know that their first offer isn’t seen as a very serious one.

Tip No. 28 Make sure the contract is complete.

The best way to avoid problems is to make sure that all terms, costs and responsibilities are spelled out in the contract of sale. A contract should include the date it was made, the names of the parties involved in the transaction, the address of the property being sold, the purchase price, where deposit monies will be held, the date for loan approval, the date and place of closing, type of deed, any contingencies that remain to be settled, and whether there’s any personal property included (or not) in the sale, among other things.

Tip No. 29 Don’t deviate from the contract.

Resist the temptation to diverge from the contract. For example, if the buyer requests a move-in prior to closing, just say no. Now is not the time to take any chances of the deal falling through.

If this all sounds like a lot of work, it is. But it’s to be expected when you’re selling anything of such great value. And you’ll thank yourself for all the expense and hard work when the outcome works to your satisfaction.

Please feel free to call me if you would like further explanation on any of these topics, or if you have any real estate questions at all. I simply see my mission as striving to be as helpful as I possibly can to area home owners. I hope this special report provided you with the information you need.

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I hope everyone is enjoying this beautiful weather we are having as the summer is well under way. I am very excited to have my new website up and running and I invite each one of you to have a look. Take some time to tour the site and see  what our beautiful South Okanagan has in store for you. We are very fortunate to live in one of the most spectacular places in the world and are lucky enough to be able to enjoy what if has to offer. I will be posting regularly with updates on upcoming events in and around the community and will be very happy to share with you some of my exciting new listings. Talk to you soon.

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Vijay Singla

Fair Realty

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vjsingla@vjsingla.com


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Vijay always puts the focus on connecting with her clients, listening carefully to their unique goals and developing an effective plan of action to help them achieve their dreams. No matter what your real estate needs, turn to Penticton's best source: 


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