Q: What does it mean when it says "inspection contingency " on a listing? Does it have anything to do with the availability of the home?
A: The inspection contingency means there is an accepted offer on the home and it is currently waiting for the home to be inspected in order for the clients to make a decision. If the buyers decided to not move forward this home will become available once more.
Q: Do I have to be a licensed realtor to list and sell my home?
A: You don’t have to be licensed to sell your home however the thought of sellers deciding to list their own home in order to save commission is a big misconception. The stress and time that comes from trying to sell a home is something most people don’t think about. Most of the time by the end of it sellers actually regret not having hired an agent to take care of all of the tiny details that come with the process. Realtors do more than just put a sign on the lawn and get paid. Some of the most important aspects you are missing out on when listing without an agent are: Most importantly time and piece of mind knowing someone else is taking care of everything for you, agents spend lots of money marketing your home to make it look its best from professional photographs all the way to staging and this marketing gives your home the most exposure. On top of everything else an agent makes sure you have the most qualified buyers walking through your home. This aspect is very important not only for safety reasons but also because it allows for a quicker and smoother transaction.
Q: Are you required to disclose a prior problem that has been repaired or fixed?
A: Disclosure is key. You wouldn’t want to buy a home that has a deficiency or a problem that could have been a deal breaker for you so we I like my clients to be honest from the very beginning. Buyers appreciate honesty when it comes to it so it also allows us to give them the feeling they can trust us and this could help facilitate the transaction.
Q: In the Vancouver market what is the average time on market for a single family townhome in good condition correctly priced?
A: At this moment in time a properly priced town home is sold in about 14 days from the listing date however this highly depends on the price point.
Q: When does a lender order a title search? Does it mean loan is approved if the lender orders a title search?
A: The title search is ordered straight away in order to make sure there are no problems. It does not mean that the lender approves the loan. Titles have nothing to do with loan approval aspect of the transaction.
Q: I will be selling my home in the spring. Should I replace the carpet or set up a flooring allowance?
A: I always suggest replacing old carpet and flooring. Replacing the carpet, flooring and even giving your home a fresh coat of paint gives the home a better feel when buyers walk through. These upgrades are cheaper ways to add value to your home and make it look more expensive helping your home sell faster and for top dollar.
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