Want to Have Multiple Offers & Sell for More Money? Read This.

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Want to Have Multiple Offers & Sell for More Money? Read This.

Yes, the condo market is hot. We all know that by now. Thanks to the 24hour a day, wall to wall coverage of the media.

But if you pay extra attention to the MLS, and inspect what’s actually happening out there on the local market, at the front line, you will notice something quite curious. Some properties tend to stay on the market for weeks at a time, despite lots of interest.

Sure, maybe it’s the sellers being unrealistic.

A lot times, though, properties don’t sell because of poor preparation.

Life is tough enough for a buyer nowadays, with the limited selection out there and a shortage of decision making time. A successful seller knows this, and will do most of the hard work for the buyers so it’s easier for them to make the purchasing decision.

Here is a list of what you need, so a buyer can purchase your home with peace of mind, and top dollar!

Consulting

  1. Prepare Buyers’ Homework for Them
    • Strata Plan with Your Unit & Square Footage Labelled
    • Meeting Minutes – Past 2 Years
    • Depreciation Report/Engineering Report
    • Form B – Outlining Strata Fee, Parking Stall, Storage Locker, Amount of CRF, etc
    • Correctly Filled-Out Property Disclosure Statement
    • Title Search
    • Expenses: Strata Fee, Property Tax, Utility Tax, BC Hydro, Gas

    If you don’t have all of the above information, it’s not the end of the world, even tough an experienced realtor should know about this.

    You can order them from your strata and land title office. Remember, it takes a week for strata documents to arrive, so these should be ordered BEFORE YOUR HOME IS PUT ON THE MARKET.

  2. Have Controlled Public & Agent Open-Houses
    • Keep Track of Visitors
    • Don’t Allow People to All Come in at Once.

    Open-House

    High-end retail stores control the number of people in the store so the crowd is manageable and well taken care of. Why should your open house be any different?

    Without your help, buyers will not understand the unique features of your home, community advantages, construction quality, developer track record – why your home is worth paying top dollar for.

    If you (or your agent) is standing in the corner saying things like: “this is the kitchen”, you’re going to end up with buyers who are not fully appreciating the value of your home.

    Good news for buyers who are bidding on your home because it would be undervalued, not so good for you.

  3. Leave a Time Slot for Pre-Offer Inspection & Appraisal
    • Preferably During Open House
      • Other buyers can see their competition and help nurture urgency.
  4. Have Offer Instruction and Timeline, then Stick to it!
    • Allow agents to have enough time to communicate with their clients prepare the offer.
  5. Proper Marketing
    • Virtual Tour
    • Floorplan
    • Property Specification
    • Brochure
      • Physical & online versions.
      • Don’t use the Realtor Print-Out. Hire a company to do it. Don’t be cheap.
    • Active marketing
  6. Don’t Collect Offers Right Away
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    • Wait 2-3 weeks for the marketing effort to saturate the market.
    • First Offer is NOT Always the Best Offer
  8. Clean Your Home
    • No Brainer. Google or contact me for a list of items to clean.

BONUS: Watch out for terms on the contract. Just because an offer is free of subjects (condition precedent), there can still be terms and conditions that can undermine your best interest. Some key words to pay attention to: special levy and liable parties, equipment condition, permitted charges on title at conveyance, floor area, number of parking/storage, etc.

Good luck to all the homeowners. Happy selling!
 

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