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        <title>Real Estate Blog</title>
        <link>https://www.calgaryluxuryhomes.ca/blog/2019-08/</link>
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    <guid>https://www.calgaryluxuryhomes.ca/blog/disclosure-what-buyers-need-to-know.html</guid>
    <link>https://www.calgaryluxuryhomes.ca/blog/disclosure-what-buyers-need-to-know.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Disclosure: What Buyers Need to Know</title>
    <description> <![CDATA[ 


Sellers do have certain obligations when working with potential buyers. Canadian homeowners aware of certain issues, such as mould, basement flooding or unpermitted work, may not be able to keep the information to themselves. Potential buyers should be privy to details about a home in specific circumstances and when regulated by the laws in the province or territory. Seller disclosure should not be overlooked when selling property in Canada, as details can make a significant difference to buyers.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


Read the Real Estate Disclosure Form


Sellers are responsible for completing the Real Estate Disclosure form or Property Condition Statement (PCS) to the best of their ability with the help of their agent. The document may be known by different names, such as a Property Disclosure Statement in Greater Vancouver. Sellers will fill this form out either before or when listing the property. This document is then given to the buyer after a home inspection. A home inspection is generally advised and performed, providing information on any observable defects or issues of a home. However, some issues can be missed. This is where a Real Estate Disclosure form becomes of use to a potential buyer. It also helps sellers, limiting their liability, as the document is a record of all known and pertinent details that could be deemed a safety risk. Other defects may still arise at a later date unrelated to the information disclosed by the seller.


Know About Hard to Detect Issues


This type of form covers latent defects or problems that would not be readily observed in a home inspection. Not all issues need to be shared. Only latent defects that can potentially make a structure unfit or negatively impact occupant safety would have to be noted. Examples of potential latent defects commonly shared include:




Problems with the foundation or roof;


Illegal apartments; and


A previous history of flooding, structural issues or fire damage.




A seller would be under the wrong impression if they believed that this form served as a warranty. It does provide details which can impact a buyer's decision to proceed with the transaction. A buyer may also decide to have an independent investigation completed as the document only offers an opportunity for a seller to share known and relevant information. Older homes may have had a few homeowners and the current homeowner may not know of additions or changes that have been done without proper permitting.


Note Observable Defects


This form is intended to disclose latent, not patent, defects. Observable issues, entirely visible to a potential buyer, such as a missing safety railing or water damage on a ceiling, would be patent defects. A buyer who notices a potential problem should feel comfortable asking questions and getting a better understanding of whether they want to deal with it, have the seller repair it or look at other properties.


Seller and Buyer Responsibilities and Liabilities


A Varsity home seller should not conceal information about a home, as withholding pertinent details may lead to a seller being liable for an issue after a sale. That being said, buyers do have to perform their own due diligence and find out more about the home before closing. An illegal suite, a previous pest infestation, cracking foundation and work done without appropriate permits may all become an issue, not only to the buyer, but to the previous owner, when not disclosed.


After a thorough review, a buyer may need to negotiate, add clauses in the contract or request additional information. Latent and patent defects can often be addressed and the sale continue when the seller and buyer are satisfied with the arrangement. Selling a home for the first time? Speak with an experienced agent to understand more about what information to provide to a potential buyer on this important form.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


 ]]> </description>
    <pubDate>Tue, 20 Aug 2019 07:32:00 -0600</pubDate>
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    <guid>https://www.calgaryluxuryhomes.ca/blog/why-vr-can-help-you-sell-your-home.html</guid>
    <link>https://www.calgaryluxuryhomes.ca/blog/why-vr-can-help-you-sell-your-home.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Why VR Can Help You Sell Your Home</title>
    <description> <![CDATA[ 


Virtual reality (VR) is still a novelty for the vast majority of people. Their experience with it may be limited to anything from video games to pop-up exhibits in amusement parks. But those looking to purchase a luxury home may have more exposure to VR than sellers realize. The nicer a home is, the more VR can show off its quality. Sellers who help buyers become attached to the property—before they set foot on it—have the best chance of getting the unicorn price they were hoping for. See why VR has been so successful for those who want to maximize their marketing.


Extra Eyes


Consider a new home buyer located in a fast sellers market who has seen 10 properties in the course of a single weekend. They may have strong memories of two, vague memories of five, and no memories of the rest. Not only are home tours tiring, but they also take up more time than buyers realize. It can all lead to decisions that the buyer ultimately regrets in the long run.


VR is not only memorable, but it's also incredibly convenient. Rather than having to go anywhere, a buyer can stay in their real estate agent's office. They're entirely free to explore every room without feeling rushed or pressured. They can ask the questions that ultimately grow their connection to the property.


VR Vs. Video


A video tour of the home can be a great way to really show buyers the scope of the home. And while this is certainly smart and effective, VR helps a person feel as though they already live there. A video tour may help entice people to visit an Open House, but even there they'll have to contend with other buyers. They may be scared away from the perfect home for them before they even have a chance to really consider it. VR removes that element so buyers can relax.


Less Time


Real estate transactions, even in popular areas, can drag on for months. Between the complications of escrow and the fickle nature of buyers, sellers can end up budgeting far less time than they need to complete the transaction. VR can't fix everything, but it can be a big part of a streamlined sale. VR can answer questions about the home, so a real estate agent doesn't have to. The tool can instantly help a buyer feel confident in the property, even if they've only physically visited the location once before.


A Nuanced Look


VR technology is beginning to really step up to the plate for home sellers:




Future looks: A person can use VR technology to show them the home after they've already moved in. In these simulation programs, they can decorate the room to their liking, so they can take a virtual tour of it beforehand.


Mortgage calculations: More than just the monthly payments, VR programs can show buyers all the numbers before they commit to making an offer. 


Neighborhood descriptions: From shops to restaurants to schools, real estate VR gives buyers a full run-down of the community.




Expanded Reach


VR helps all buyers decide on a West Hillhurst luxury home, whether that buyer is local or not. Some areas in Canada are being targeted by foreign buyers, and many of these buyers are willing to pay well above asking to secure the property from afar. VR not only helps a home seem more prestigious than one without, it can also help a buyer feel confident entering a bidding war to ensure they get a quality property.


VR has the ability to transform a home sale from ordinary to extraordinary. For the right properties, sellers can find buyers from all walks of life who may never have known the property was for sale without it.


 ]]> </description>
    <pubDate>Tue, 13 Aug 2019 11:26:00 -0600</pubDate>
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    <guid>https://www.calgaryluxuryhomes.ca/blog/researching-the-real-estate-market-when-selling-a-home.html</guid>
    <link>https://www.calgaryluxuryhomes.ca/blog/researching-the-real-estate-market-when-selling-a-home.html</link>
        <author>justin@justinhavre.com (Justin Havre Real Estate Team)</author>
        <title>Researching the Real Estate Market When Selling a Home</title>
    <description> <![CDATA[ 


When the time comes to sell your home, it's important to know what's going on in the real estate market where you live. Having an understanding of the real estate market can help you make smart decisions before and during the sale process.


Doing research typically involves reading articles online, talking to real estate professionals, and making observations about the other homes that are selling in your area. As you're doing your research, below are the questions you should be seeking to answer.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


&gt;Is it a Seller's or Buyer's Market?


A seller's market occurs when homes sell for high prices and home inventory is low. In a seller's market, buyers have the financial resources to pay more for their homes, and will compete against one another to buy the best home available. Under these conditions, home buyers often get into bidding wars and will even pay more than the asking price for a home.


A home buyer's market is the opposite. In a buyer's market, home inventory is high and buyers have their pick of homes in the community. Prices are low and buyers can be very choosy.


Knowing what type of market condition is happening when a house goes up for sale can help the homeowner get the most money for their home. For example, in a buyer's market, the seller may need to renovate the home in order to make the house more attractive to buyers. In a seller's market, the seller will have to do less work.


What Can You Do to Boost Your Home's Value?


Knowing what the buyers prioritize can help the homeowner decide what kind of changes to make in order to boost their home's value. In family-friendly areas, for example, a home with three bedrooms is likely to sell faster than a home with only two. If a homeowner would like to sell quickly, they may need to convert their spare room back into a bedroom, just to make it more appealing to buyers.


How Fast Can You Expect Your Home to Sell?


In some markets, homes sell quickly. In other markets, homes may sit for a long time without selling. Knowing how quickly the home can be expected to sell can help the homeowner decide when is the appropriate time to put the Upper Mount Royal home on the market. 


For example, if the homeowner needs to sell their home in time to start a new job in another city, and homes are taking a long time to sell, the homeowner may need to put their home up for sale quickly and make improvements that will encourage buyers to make offers. In addition, a seller under these circumstances may need to make alternative arrangements in order to start their job on time.


Work with a Real Estate Professional


Working with a real estate professional is the best way to do market research when selling a home. A good real estate professional can answer your questions, give you advice, and help you anticipate what to expect during the home selling experience. Working with a real estate professional can also help you anticipate problems that might be coming. Trouble shooting in advance with your real estate professional can help the home-selling experience go smoothly.


For informational purposes only. Always consult with a licensed real estate professional before proceeding with any real estate transaction.


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    <pubDate>Tue, 06 Aug 2019 09:11:00 -0600</pubDate>
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