Frequently Asked Questions - Sellers

Frequently Asked Questions – Sellers

1. Can I cancel my listing at any time? No. The Listing Contract is between you and the Brokerage and is intended to create legal and binding obligations on both parties.

2. After my listing expires, how long do I have to wait until I can sell my house? You can sell at any time but you may still have to pay commission. Please check with your REALTOR® to clarify any ‘holdover’ clause in your listing contract.

3. If I find my own buyer during the listing, do I only pay half the commission? You pay the commission agreed to in your Listing Contract.

4. What is the commission rate? Commission rates are negotiated at the time of the Listing Contract.

5. Do I have to pay GST when I sell my home? Not on private previously-owned primary residential property. All other types, please contact Revenue Canada. Note: there will be GST on any goods and services that you buy/employ in relation to your sale.

6. What is MLS®? The Multiple Listing Service®, a co-operative real estate listing service used by REALTORS® is a  computer based information network combining current market information with historical data. In the Edmonton region, MLS® provides over 3000b REALTORS with up to the minute market information seven days a week, 24hrs a day.

7. If I get an offer I don’t like, do I have to counter it? No. You have the choice of accepting, rejecting or making a counter-offer.

8. What is an RPR? Real Property Report. This is the relatively new name for a survey certificate.

9. Do I have to use a lawyer? While highly recommended, the final decision is yours.

10. If the buyer does not remove his conditions, who gets the deposit? If the buyer has not otherwise breached the contract, the buyer usually gets it all. Check with your REALTOR®  or lawyer regarding the specifics of your contract.

11. If the buyer does not ‘complete’ the transaction after removing conditions, who gets the deposit? If you have not otherwise breached the contract, you usually get it all as liquidated damages. Check with your REALTOR® or lawyer regarding the specifics of your contract. Based on your listing contract, you may be required to split any forfeited deposit with your brokerage.

12. What is the difference between condition day and possession day? Condition day is the day the buyer has to remove the conditions on the property. The house is then sold. Possession day is the day that the keys are handed over to the new owner – and they take possession.

Additional “Christy’s Credentials” Articles…

 Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Christy Van Dyke
Associate | REALTOR®
Your Greenview | Hillview Area Specialist
Search Homes For Sale in Greenview | Hillview 

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager
Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

Moving Tips Part One

• After you’ve moved in, it’s a good idea to let all your electrical appliances return to room temperature before plugging them in.
• Don’t forget to be environmentally friendly! Flatten all your moving boxes for recycling. Many moving companies will pick them up after your move.
• Before you begin to unpack, don’t forget to wipe out all cabinets and shelves.
• Boiling Cinnamon sticks will give your kitchen a clean, fresh scent.
• It’s important to tape your microwave shut and remove the glass plate before you move.
• If you’re planning on hiring a mover, but want to keep costs low, consider doing your own packing. You can also save time and purchase your own packing boxes in advance.
• It is wise to arrange for quick cash to cover unexpected or emergency moving-related expenses.
• Make sure that direct debit and billings links to your bank accounts are organized to handle any changes resulting from your move.
• Certain times of the year are busier moving times. It’ wise to plan ahead and make sure there is availability on the day you want to move.
• Most gas, water and electricity companies require several days notice for disconnecting and re-connecting your services.
• Be prepared to order take-out food or eat out on the first couple of nights in your new home. Chances are you’ll feel tired to cook, but even of you do feel like cooking, most of your kitchen appliances will probably still be packed away.

Corrie Harpe

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager
Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

Moving Tips Part 2

• Important documents such as wills or deeds, jewelry, photos, and family videos are impossible to replace. Consider moving these and other important belongings to a safety deposit box while you move.
• Find out if homeowners or renters insurance policy covers your belongings in transit.
• Be sure to settle all bills that may be overlooked in the move a few days before moving day.
• Remember to contact your local post office and fill out forwarding address forms.
• Additionally, leaving a small welcome card with your forwarding address for the new people moving into your old home is a nice way of asking for any additional pieces of your mail to be redirected.
• You should always shut and lock all windows and doors as you leave your old home on moving day.
• Many movers will be able to make special arrangements for transporting your plants and pets.
• If moving into an apartment/ highrise be sure to book the elevator with the management company.
• Avoid loading more than 50 pounds into one box.
• Label each box and indicate the following: which room it should go in, whether it is fragile, and if it should be loaded last so it will be unloaded first.
• Pack medications in a leak proof container.
• Movers are limited by law in what they can give you for lost or damaged goods. To cover potential damage, check with existing homeowner’s or renter’s policy.
• Document an inventory of all your belongings before you pack.

Corrie Harpe

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager
Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

My Name is Friday and I am available for Adoption!

So you are determined to find a place that can accommodate you and  Poochie. Sometimes the journey is not always easy – nor simple. However – knowing what to expect and how to go about getting your Poochie approved  by the Condo Board is worth knowing before you head out on your search.

A few things to consider regarding Pet Policies:

• All condo boards have some sort of Pet Policy in place. And in most cases where they DO allow pets – it is still with Board Approval.
• Pet height and weight restriction: usually 18-20 pounds and no bigger than 12 inches in height.
• Cats – usually no more than two allowed.
• Birds and other critters still need board approval.
• Usually when a condo is first built – there is no formal board formed to give any direction on a Pet Policy – so many critters can be ‘grandfathered’ into a building if the condo board later decides to restrict pets.
• Townhouses – are usually alittle more lax on the pet approval process…most all allow cats and small dogs …with approval.
• Duplexes – you are the master of your own pet policy…no restrictions. Except that you will be living in close quarters to your neighbor – SO you still want to be a responsible pet owner 🙂

Procedure for Pet Approval

Take a picture of your furry friend, along with a short description of the type and temperament of dog, and submit it to the person on the condo board that takes care of pet approvals. In most cases this is all done via email. A good idea in this email – is to describe how you care for your pet – and to give reassurance of your responsibility as a pet owner. This can go along way on the good will bandwagon to pet approval.

Exceptions to the Rule:

If for medical reasons , ie. epilepsy, diabetes, etc. you require a certain breed that exceeds the 18lbs 12inch rule – you can, along with a medical note from your doctor, override a pet policy. I had a client – with diabetes – that had a small Shepard – and we got her approval with a note from her doctor.

Final Note…

For the most part pet owners are responsible. It’s the odd ones out that make things difficult for the rest. This is usually the case when a condo board decides to make the building a strictly no pet zone – in the long run of re-saleability – this is not a good thing. For instance – most of the high rises along Victoria Promenade do NOT allow pets. Wow = when you think of the demographic wanting to move into these buildings, have pets. They are either downsizing and want to bring their existing Poochie family member with them – or they are single – widowed – divorced  and want a furry friend for comfort and companionship. Pet friendly condos will have the upper hand in resale down the road. Pet owners are a demographic growing in size – builders and condo boards beware!

It’s a lifestyle that’s on the rise….

Looking for a Pet Friendly condo? We can help!

Our furry friend pictured above is currently available for adoption!

Contact Rescue for Life  or SCARS for more info on adoption. A life spared, a life of love to give …adopt a pet today:)

Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Jennifer Kennedy
Broker | Owner

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager

Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

REALTORS® : Looking for a great Team environment to grow your business…see our Brokerage Model for info on how to make that happen!

Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Jennifer Kennedy
Broker | Owner

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager

Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

REALTORS® : Looking for a great Team environment to grow your business…see our Brokerage Model for info on how to make that happen!

You are probably thinking …what possible con’s could there be in a multiple offer situation? Surprisingly there are a few things on both sides of the fence to consider…

Starting with the Pros:

1. You are in a good position to get your asking price.
2. Negotiations are usually quick and uneventful or unemotional.
3. You will be able to pick the offer that best suits all of your terms: price and possession date.

However, in buyer’s market there are some things to consider ..now the Con’s:

1. In a buyer’s market, buyer’s are averse to getting into bidding war – they see it as an unnecessary evil. Especially at a time when they should be getting a deal – not giving a deal to a seller. Often times buyer’s will walk away from a deal in order to find a home that they do not have to compete for.
2. If you come back with an over confident (counter) offer – you may risk offending or alienating your buyer. This is a tricky one to navigate. Proceed with caution and rely on your REALTOR®

Additional “Christy’s Credentials” Articles…

Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Christy Van Dyke
Associate | REALTOR®
Your Greenview | Hillview Area Specialist
Search Homes For Sale in Greenview | Hillview 

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager
Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

Looking ahead these Real Estate trends will be here for a while. Find out what types of Real Estate investing is on the forefront of buyer’s minds and pocket books!

1. Housing recovery: unlikely, however cautious optimism remains. A few more foreclosures have yet to flush through the market(s).

2. Mc Mansions are out: compact housing is it. Baby boomers are downsizing to more manageable homes. Generation “x” is interested in vibrant, walkable neighborhoods, smaller compact homes. smaller homes with more pizazz..

3. Home buyers are thinking long term: 1st time home buyers are now thinking a decade in advance. Repeat buyers 15 years in advance. Homeowners are simply planning on staying longer.

4. Prices still have further to drop:  Increase in foreclosures. The 500,000 plus market (larger older homes)and conditionally and location challenged unsold properties will still need to adjust price or condition or both in order to sell. Price competitively or price it to compel a buyer to choose your property over the gazillion other choices they may have.

5. More foreclosure to come: still shaking out the over bought/over extended home owners from the boom of 2005-07. Some home owners that bought in 2005-07 are now needing to sell/move for one reason or another. Some can’t afford to move because their mortgages are worth more than what the market will bear for their home and that leads to more foreclosures.

6. Mortgage rates to remain low: Long term rates will begin to rise mid to late 2012. Rates will eventually have to go up in order for governments to begin to recover their own debt loads.

7. Mortgage Rules/Standards taking on new shape: Shorter amortization periods: no more 50 year mortgages, now down to 25 year mortgages as the norm. Increase minimum downs: more and more lenders are tightening their purse strings and will be requiring more money for down payments in order to secure financing. Longer probation periods: stricter qualifying standards over all, especially the self- employed.

8. New Construction concerns: lower new construction starts in this market could lead to a housing shortage in the future.

9. Investor opportunity: CASH investors will rock especially for bank /foreclosure sales.

10. Housing recovery dependent on employment rate: housing recovery maybe delayed due to in part of current employment rate.

Although not written in stone the above Real Estate Trends for 2013 are a guideline as to the direction the market is headed. Smaller homes, tighter financing regulations, and a few more foreclosures to get through are all what we can generally expect to see in the near future. But always remember: a good home well located, presented and priced will sell in any market!

Happy Investing!

Corrie Harpe

I have told this story a number of times but I think it bares repeating because it encompasses the essence of any successful business relationship.

My Father has over the years given me some pretty useful advice. He ran a successful Law practice in his day, that thrived on repeat business: referrals. However, alot of these referrals he had never met before. As you can imagine a Lawyer – not unlike a Realtor – client relationship involves a two way trust understanding.

My Father would always start off the conversation with something like this:
“You don’t know me from Adam, and I don’t know you from Adam. You have to trust me because you have no other choice and I have to trust you because I have no other choice. As long as we understand that – we can move mountains together. If we don’t , we can’t put one foot in front of another.”

Trust is  fundamental in any relationship. Once you can establish that with your clients – and for your clients to understand that you require that of them too- there begins a successful journey.

I have often shared this story with my clients – yup – and they were referrals I had not met before…thanks Dad.

Additional “AGENT 101” Articles…

Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Jennifer Kennedy
Broker | Owner

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager

Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

REALTORS® : Looking for a great Team environment to grow your business…see our Brokerage Model for info on how to make that happen!

The results are in! We have polled our client base to ask them what they valued the most in their home and neighborhood. Not surprising that backyards, big windows for natural light and quiet location topped the list!

Here are the results:

Best Home Features:

1. Tied for first place: Backyard size and large windows to allow all the natural light in …( FYI – you tend to gravitate in a home where there is the most sunlight – a home with lots of sunny living areas has better resale)

2. Size of the home and layout (large living spaces).

3. Decks deck and more decks, and the covered variety too!

4. Open concept.

5. Renovated rooms: kitchen’s , master ensuite: with upgrades such as anti slam doors, granite and hardwood floors.

6. Kitchen that has direct access to the covered deck.

7. Insuite laundry – from our condo dwellers – this is a HUGE selling feature.

8. Soaker tub: relaxin’ is a good thing…

9. Historical charm.

10. Ensuite and guest ensuite.

Best Neighborhood Features:

1. Tied for tops: Quiet tree lined streets, no crime and with close proximity to all amenities and major transportation accesses.

2. Proximity to parks, trails, walkways and community lake.

3. Strong community atmosphere.

4. Walk-out, corner lot with good neighbors.

5. Cul de sac location.

Additional “AGENT 101” Articles…

Additional “Edmonton Realtor: KENNEDY Real Estate” Articles…

Megan Wagner

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager

Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

REALTORS® : Looking for a great Team environment to grow your business…see our Brokerage Model for info on how to make that happen!

Take a look at this video of an older half duplex in St. Albert that was bought as a foreclosure just a few months ago. Everything down to the studs was replaced! A real treat for St. Albert – a brand new fully finished 3bdrm duplex for under $300,000 – with a huge fully fenced yard too!! A rare find for sure…contact us for more details on this FOR SALE property.

Find out more about our Staging for Vacant Properties

Additional “Before & After Projects” Articles… 

Additional “Edmonton Home Stager” Articles…

Jennifer Kennedy
Broker | Owner

KENNEDY Real Estate
Your Edmonton REALTOR® | Edmonton Home Stager

Call us today…780-485-3010 and GET SOLD!
Area Specialists | Lifestyle Marketing

REALTORS® : Looking for a great Team environment to grow your business…see our Brokerage Model for info on how to make that happen!