Today my client takes possession of a home they waived conditions on less than 2 weeks ago. This would be considered a fast closing. How are we able to close so quickly? Everyone was organized and prepared. If you are ever faced with a fast closing here's what needs to happen to have the sale close on time.
The seller must:
- have their Real Property updated and stamped for compliance
- have addressed any dower issues
- have been to the lawyer well in advance of closing day
- have been properly qualified for a mortgage and have all their necessary documentation to the mortgage specialist BEFORE the offer is even written
- have access to their deposit and down payment ie the money should be sitting in a bank account not in a RRSP, investment account, the bank of Mom and Dad (most lenders insist that the down payment has been in the buyers account for 3 months, you can't have it stuffed under a mattress!)
- get the home inspection done quickly
- get all conditions waived as quickly as possible
- have any deposits (that are part of the purchase contract) in the form of a bank draft or certified cheque
- have their lender forward mortgage instructions to their lawyer
- contact their insurance company and utility companies ASAP
- meet with their lawyer before possession day with all their funds so all money is ready to be transferred
- followup consistently with their client to make sure they are doing their part to ensure closing on time
- submit all parts of the contract and copies of deposits to the lender (buyers agent) and accommodate the appraiser (sellers agent)
- submit documents to the necessary office to make sure conveyancing is done in a timely manner
- contact their clients lawyer and give them the "heads-up" that there is a fast closing coming across their desk (and to make sure the lawyer is available to represent them)
- verify prior to possession that any additional terms written in the contract (eg repairs that the home owners were to have made are complete)
October 5, 2011
We have a wonderful communication tool available through the Calgary Real Estate Board (CREB) called Touchbase. It allows agents to communicate instantly through the internet. As long as both agents are "on" the system (ie an active profile), it is fast, and reliable. Not to mention a very low chance of error. It is, in my opinion, the best way to request showings.
I have 10 reasons why all CREB REALTORS should embrace this technology.
1. 24/7 access. As long as I am online, I can send a message. (Perfect for early morning requests when the coffee hasn't kicked in and I'm not speaking in complete sentences.)
2. It takes me 15 seconds to request a showing. No kidding. If I'm booking appointments and all listing agents are on touchbase, I can request 8 showings in under 2 minutes.
3. I can book a showing even in a "loud" environment. click click submit.
4. I'm never put on hold. Or forced to listen to really bad muzak.
5. I don't have to listen while someone explains to me how a paging service works. " The agent is not in the office right now but I will take your information and page the message out to them and they will return your call if that is OK with you" (I've booked at least one more showing through touchbase while listening to the explanation)
6. I don't have to spell my name out. Yes that's Karen with a K, a-r-e-n Salmon like the fish no not Simon and yes there is an "L"
7. I can ask questions in the message section or leave a message "ok to text confirmation" and when the listing agent confirms they can leave me details reagrding the showing.
8. There is no confusion as to what time I requested. (Calendar function keeps track of everything)
9. If the listing agent is on vacation, they can have the touchbase messages automatically forwarded to a colleague.
10. There are no 3rd party answering errors.
I am sure there are many more reasons, can you think of any others?
October 4, 2011
"Road trippin' with my two favorite allies
Fully loaded we got snacks and supplies"
Yep it's Tuesday and that means I'm off to our weekly meeting at the office. Although the meeting is informative and fun, the best part, is the "tour" after the meeting. Each week we visit a different quadrant of the city to view new listings. Here's why we do these tours:
1. Our sellers love having agents through their house.
2. Everyone provides feedback on the condition of the home. What, if anything, can be done to better present the home?
3. Everyone provides feedback on price (although sometimes this is difficult if the viewer doesn't know the community very well)
4. We learn more about pricing in different areas of the city, which not only helps with pricing our own listings but helps us when we have buyers that say- I have $x to spend, where can I live?
5. We carpool so we have the opportunity to spend 90 minutes with colleagues to share ideas, and exchange stories.
Now if I could just get in the car that always goes to Tim Hortons!
October 3, 2011
I live on an acreage inbetween Calgary and Okotoks in an area often referred to a "Dewinton". The kids insist (and they are correct) that we live in Davisburg but noone really recognizes the name Davisburg.
The Dunbow Recreation Board was recently formed to explore and develop recreation projects in this area also known as Division 6 of the MD of Foothills. For the second time in 2 years, the board has hosted a "Turkey Dinner" at Davisburg Hall to raise funds for these projects.
The event was a huge success and over 400 people came for turkey, potatoes, salads and pies. There was a silent auction, live auction (thanks Bearcat Murray) and a 50-50 draw. I haven't heard how much was raised but I will be sure to post the numbers.
It was awesome to see my entire family helping out. Pretty sure the pie tester had the easiest job.
October 2, 2011
No I'm not talking about Christmas presents and opening them before the big day. I'm going to give you my opinion on open houses as a way to promote a listing. I happen to like hosting open houses. They are an excellent opportunity to meet the neighbours, get feedback on how the house shows and sometimes even sell the house. Yes, in the last 4 months, on two separate occasions I have had a house sell as a result of an open house.
Here are 5 things I've learned about hosting open houses.
1. They must be advertised at least 5 days prior. There are 2 places we can advertise them within mlxchange (our database that feeds realtor.ca). In the public comments (general description) and the open house section (there are at least 3 different places to select open house). When I ask people how they found out about the open house, its not often they say " the signs", most of the time they're looking online.
2. Signs are still important. See how much traffic you get on windy days when the signs have blown down.
3. Some people are "just looking". And that's OK. If you come by one of my open houses I will still ask you for feedback. The sellers like to know.
4. Buyers who are currently working with a REALTOR will often come by. I will often encourage them to come back for a second visit with their agent. (This is what happened with the two that sold!!)
5. If the weather is too hot, too wet, too cold or too snowy, not many people come by.
It's part of my marketing plan to host at least one open house during the listing period. Spending 2 hours in a house (with or without others) is an excellent way to really get to know the house.
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