Real Estate Blog

Once you have accepted an offer on your home, you and your buyers will face several steps before the closing can take place. If they're getting a loan to purchase the house, one of those steps will be the appraisal.

You might reasonably think that the appraiser will be looking at the home itself and not at your lifestyle, and that's really what an appraiser is paid to do. He or she will be taking measurements, looking at the quality of cabinetry, fixtures, and flooring, and making note of both positive and negative points.

You might also think that you can relax now – that you no longer have to maintain constant vigilance to keep everything neat and tidy inside and out.

But appraisers are human. They form impressions and assumptions just the way

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List No Home Before Its Time

 

When you make the decision to sell your home, the impulse is to get it on the market right away. But that can be a costly mistake. 

Instead, choose a listing agent and come to an agreement on the listing price. Then, before the first buyer or buyer's agent pulls up outside, do what the old folks used to call "Spring Cleaning." 

Make everything from the ceilings to the floor sparkle with cleanliness. Get rid of clutter. Re-arrange the furniture to create a feeling of spaciousness and ease of movement throughout the house – even if it means moving a few pieces of furniture into storage for the time being. Take care of those little "fix-it" jobs that you might have been putting off.

Next, De-personalize so that

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Home sellers continue to outnumber buyers in Greater Vancouver's summer housing market

Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.

August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.

"Home sales this summer have been lower than we've seen for most of the past ten years, yet we continue to see

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Viewing Vancouver Open Houses? Be Careful!

 Once you've decided to buy a home here in Vancouver, Lower Mainland, it's natural to want to see them all. If you happen to see an "Open House" sign, it's natural to stop and go in. But be careful.

 The first step is to tell the agent that yes, you do have a buyer's agent.  In fact, it won't hurt to give the listing agent your agent's card, just to reinforce the statement.

 Next, if you fall in love and want the house, take the information and call your own agent immediately. Inform the listing agent that he or she can expect an offer and that it will be coming through your agent.

 Why not purchase from the agent holding the open house?

 For two reasons. First, you probably have a contract with

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There's more to a Vancouver home purchase offer than the stated price.

While the stated purchase price of a home in Vancouver is the starting point in an offer to purchase, other details of the offer determine the true costs to the buyer and the true proceeds to the seller. These details, along with the price, become points of negotiation.

The most obvious, common, and costly detail is the request for the seller to pay the buyer's closing costs. Depending upon the loan program, this could equal as much as 9% of the purchase price.

On a home valued at $300,000, paying buyer's closing costs would mean a $27,000 reduction in proceeds for the seller - and a $27,000 savings for the buyer.

Then there are the inspections and the repair allowances.

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