Selling A House or Property

The way you sell your house, whether as part of a move to a new neighborhood or to cash out a real estate investment, can have a big financial impact.
Getting the most money, for the least hassle, is the name of the game.
Selling a house involves many steps:

Once you decide to sell your house, you have a few key decisions to make. One key decision is whether or not to use a realtor. Some people decide to sell their home without a realtor. However, there are several risks involved in selling a house without a realtor. These include the fact that realtors will not show your house if it is not being sold by another realtor, and you can't get your house listed in the multiple listing service (MLS). This means far fewer potential buyers will see your house, making it more difficult to sell. Unless you are very experienced, you are better off using a realtor to help you sell your home.

There are various types of Agency Relationships

• Buyer Agency

• Seller Agency

• Dual Agency

• No Agency

Working with and Agent - Is it really necessary ?

An Agent working for you can do the following:

• Can find the home that really meets your criteria.

• Can get the right information on taxes, utility costs, services etc.

• Can help with negotiating your offers and counter offers.

• Can recommend appraisal, home inspection, legal and financial options.

Working with just one agent is the best way to find the home you are looking for.  If you are calling multiple agents on different properties you may miss out on the very property you want.

It is for this reason I ask for your commitment to find the perfect home in the least amount of time.

BUILDING INSPECTIONS
Residential real estate is sold “AS IS” so a professional building inspection is always a good idea and highly recommended. There is no such thing as a perfect house. Many components of a house wear out over time such as roofs, furnaces and hot water tanks. To avoid surprises after the fact, an inspection is worth the cost.

CITY HALL
City Hall can be a valuable resource, however they do charge to look at individual property files. The property file contains copies of an correspondence with previous owners, inspections and house plans. The information cannot be copied, but can be viewed on site.

WOODSTOVES
Like any appliance, woodstoves wear out. Only CSA approved models installed properly will pass the fire Marshall's inspection. A woodstove inspection is only valid for 1 year and even then it may not pass today’s requirements as the installation regulations change from time to time. Some defects may not be apparent to the untrained eye.

FLUES
Masonry or metal flues should be inspected. Masonry flues can crack with heavy or improper use. Not all metal flues are approved, only the newer CSA approved ones are. Remote camera devices are used to inspect the inside of flues.

APPLIANCES
Used appliances do not come with a warranty, however they should be working on possession day.

BUGS
Every house has them. Some are harmless others aren’t. If the previous owner had animals you could end up with fleas. Damp wood or wood buried in soil can attract termites, other insects and rot.

OIL
Furnace oil is a chattel and not included in a sale unless specifically indicated so on YOUR agreement. The previous owner can request that you pay for the remaining oil on possession day or have it pumped out.

TANKS
Many propane tanks are leased. The new owner may be required to sign a new lease agreement with the company that owns it. Above ground oil tanks can easily dealt with and removed. However, those that are buried underground will present a problem on the purchase of a property. They represent possible contamination sites that are expensive and complicated to remove and clean up. Environmental reports and oil tank removals are expensive.

TENANTS
Unless a lease is in place most tenants are on a month to month tenancy. A would-be landlord should be familiar with the Residential Tenancy Act of BC. This changes from time to time as legislation changes. Proper notice and procedures must be followed to terminate a tenancy. Because of the human element there are no guarantees.

CLEANLINESS
Everyone’s standard of cleanliness is different. There are no guarantees that a property will be left for you clean to your standards. On viewing a property you can get an idea of how it might be left. To be on the safe side, count on cleaning it yourself or hiring someone to do this. We would hope every home is left clean for the new homeowner, but it is not always the case.

GARBAGE
Unfortunately, the odd occasion a seller does not remove all their garbage on possession date. Garbage removal does involve time, effort and money. In some situations this can be handles right in the offer if a large amount of garbage is noticed when the property is viewed.

KEYS
One or some keys will be turned over to the new homeowner on possession day. As realtors we can not authorize you to use keys any sooner that what has been agreed to in writing. Because homeowners misplace keys, lose keys, give keys to friends, or may not had keys to open all doors I recommend (even a new house) to rekey the home you have purchased. It is worth your peace of mind.

UTILITIES
Every new owner must apply to receive service. The Hydro Plus program requires that a separate service agreement be signed.

INSURANCE
As a requirement of bank financing, proof of adequate building fire insurance must be provided.

BOUNDARIES
Property lines can be verified by locating the white corner posts indicating where the metal peg should be. Over the years they go missing and/or moved by children. A site survey or legal map can assist in locating them. A fence, hedge or grass line does not necessarily indicate the property line.
Some areas are in a designated flood plain. It is prudent to know if your new property is.

SITE SURVEYS
If bank financing is involved they generally request the purchaser supply a site survey as part of their financing requirements. Not all sellers have these on their property. If it is very old, unreadable or changes/additions have been made, it may be necessary to get a new one done.


RURAL PROPERTIES

SEPTIC TANKS
Septic systems require maintenance and do not last forever. Because every family lives differently it may not perform the same. Some areas can experience difficulties during periods of heavy rainfall or saturated grounds.

WATER
Piped water in the regional district may be metered but in any case the property owner pays separately for their water consumption. Inquires should also be made to determine if it is a private water system and the source of the water. If the property is on well water the purchaser should have the water tested and make inquires about the quantity.

GARBAGE
This is not included in your Taxes. Most property owners pay for garbage collection to a firm servicing that area.

Taking all the above into consideration you can understand how my expertise can help you in either buying or selling real estate.

30 Years of Local Experience +Training and Enthusiasm = RESULTS      1-250-286-1187    1-800-379-7355