David's Blog

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You are alone FSBO in Toronto

If you could have sold it alone....
You would have sold it already

If you haven't been able to attract buyers to see your home and are finding that you are dealing with unqualified people, looky lous that want decorating ideas, couples who are out for a Saturday or Sunday drive just looking at homes incase they decide to buy...
Yes, you know your home the best...
But the buyers interests and focus are not necessarily the same as yours. You are holding your own open houses but, people are reluctant to give you their name and phone number. They don't know who will be calling them back!

You want to save the commissions and expenses...
But you are realizing the weekend print ads are easily $500 - $600; There is no guarantee that the phone will ring and may not really drive any traffic. Gambling on weekend open house traffic is fickle and the market has softened.

The contract bundle at Chapters doesn't contain the clauses you need. It is just blank forms. The package of forms clearly states on the cover VOID if used improperly. The forms online from OREA and TREB are to educate you, permit you to read the content in the comfort and privacy of your own home, they have plain english explanations to interpret and explain, not to copy and use as a template.

The Lawyer charges $450 per hour to prepare contracts based on what has already been agreed upon. A lawyer will not enter into a negotiation unless he is being paid.

The Buyer wants to save the same money you do and is asking a lot of questions that make you a bit uncomfortable answering. How motivated are you? Whats your BEST price? Have you bought already? Have you been transferred? OR the big D questions; Death, Divorce, Disaster and Debt. A skilled Buyer has asked all the questions necessary to find your lowest bargaining position without putting up any money to negotiate an offer.

Has the buyer, who is in your house, been qualified or pre approved for a mortgage. Are they capable and interested in concluding a transaction or just testing the waters for a deal?

Have you confirmed the Buyers details with the mortgage broker?
You don't pay anyone until you have commited to a sale that has terms and conditions acceptable to you. At this point you know exactly how much you have sold your home for and what portion will be in your pocket. We have dealt with home inspections and what you will need to give up or gained to walk away, We will have inquired with your mortgage lender about their prepayment penalties or will you port and increase to blend the new mortgage. Land Transfer Taxes apply to your purchase, not your sale.
When you are buying .... will you be using an agent? Why is that?
Because the agents help you sift through all the extraneous details to finds the salient points that concern you as a buyer... Helping you to make a sound financial decision.

If this is not the type of real estate advice you are receiving; you need to ask why not.

David Pylyp

Etobicoke Real Estate Agent

Accredited Senior Agent for York Peel and Halton Regions

Lives in Toronto and promotes Giving Value

As we move forward It would be good if you also circled me on Google +
https://plus.google.com/109283965469179719942/posts

Comment balloon 7 commentsDavid Pylyp • June 22 2010 10:51PM
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