Should I find a home before I list mine?

Is it best to find a home before listing or list and then find a home once it sells? 

There is the chance that if you sell your house first, you might not be able to find anything, or you find something and lose it because your house doesn’t sell in time. To prepare yourself in the best possible way you may want to do some research by viewing some homes that appeal to you. Choose a Realtor that is well-informed about the area and knows what these homes are worth. This will help you avoid overpaying for a property and reassure you that there are many lovely homes available and that one or several of the current listings may work for you.

Should I find a home before I list my Nanaimo home? 

            A Realtor can supply you with a CMA (Comparative market analysis) which will help determine the market value of your home.  Ask your realtor to do a room-by-room walkthrough, and make recommendations on ways to stage or declutter your home so it shows at its best.  This is also the time to make any repairs necessary to get your house sold. Get your finance in order for your next purchase.  The mortgage market has seen some big changes over the past 6 months.  Its important to know what you will be approved for at the new rates and with the new requirements. Doing your up-front research will pay off as you will be in a position to get your home listed quickly when you are ready, or when the right house comes onto the market.

How to Motivate People to Buy Your Home

Smart home sellers should always remember that buyers have many choices.

Qualified buyers usually go for the home with the best asking price and the one that gives them the best value for their home-buying money. If you're trying to sell your home in a competitive market, you are going to have to be price competitive. It's not always about asking price, however.  Sometimes you will have to take that extra step to get a qualified buyer to choose your house to make an offer on instead of the house down the street. You can probably think of many ways if you are willing to 'think outside of the box'.

How to Motivate People to Buy Your Home in Nanaimo

             

            The following are some suggestions to motivate buyers to buy your home. Reimburse them for their legal fees and other closing costs. Offer them a credit for any cosmetic work that needs to be done, such as painting or carpet cleaning.  Provide a credit for updating appliances, bath room fixtures, or window coverings. If you can afford it, arrange for a weekly cleaning service for a certain amount of time, after the deal is done, as a 'thank you' for them buying your house. When you do this, you set yourself apart from the competition and give qualified buyers good reason to choose your home rather than the one down the street.

What to consider when buying a home

There many things you need to keep in mind when buying a home. Choosing a desirable neighborhood and the number of bedrooms are two very important things followed by resale considerations. When looking at your needs, budget and personal tastes come into play to decide if  you want a new home or one that requires some work like a "fixer-upper."  If the area you are considering has a lot of seniors, consider purchasing a home with no stairs like a rancher. While house-hunting, it's a good idea to make notes about and take photos of what you see because viewing several houses at a time can be confusing.

What to consider when buying a home in Nanaimo 

If you are thinking about buying a condo, it makes sense to spend a bit more and get a two bedroom unit because a one-bedroom condo is far more difficult to resell. You may also want to consider how high strata fees are, ability to rent out unit and if pets are allowed.  On the other hand, 2 bedroom homes are very hard to sell and have very little appreciation potential. Most people want at least three bedrooms. Homes with a well-maintained, attractive, and charming view-from-the-street appearance have good resale potential. You can protect your investment by not buying a different or unique home to allow for broader appeal to more potential buyers.

Property Disclosure Statement – What is it & why is it used?

In Nanaimo, as well as the rest of B.C., it is law that you must complete a Property Disclosure Statement (PDS) when listing a home.   This document is completed by the seller about the property they are trying to sell and is part of the paperwork necessary to list a house.  There are specific property disclosure statements for residential, strata and rural property. All parties to the sales contract must sign and date the property disclosure statement. This PDS does not mean that the buyer should not have a home inspection.  This inspection helps buyers understand the condition of the property and what repairs may be needed.

Nanaimo Property Disclosure Statement

A property disclosure statement is important because the seller and the seller’s Realtor must, by law, disclose any known material latent defects in the property to the buyer.  The property disclosure statement helps protect against allegations of negligent misrepresentation. Some trouble areas include: boundaries (property lines), insulation, roof condition, septic tanks, structural problems and well water. When a buyer views a property disclosure statement they should still plan to make their own inquiries about the property.  This is especially important if the seller has initialed that he/she has no knowledge as to the status of a question on the PDS.  Many questions on the PDS are worded “Are you aware… or To the best of your knowledge…”  In many cases a seller may not know the status of insulation etc.