Contacting your condo manager before listing your apartment or townhouse condo could prevent or delay the sale.

99% of the time, when you and the buyer agree on the price, there will be a conditional clause that states that the buyer’s lawyer will have 7-10 days to review the status certificate provided by the condo management company.

The buyer’s lawyer is reviewing the corporation’s financial records to determine whether there are any unpaid condo fees or assessments from you, infractions (such as a missing screen), or unauthorized additions (such as a deck or satellite dish).

You will be surprised at the number of hasty remedies and discussions if a lawyer discovers some things you were unaware of.

To ensure a smooth sale, take the time and effort to identify any issues that could affect the sale of your condo, whether an apartment or a townhouse, in London, Ontario.

For more condo tips in London, Ontario: This condo guide will save you a few nights of unrest.

London Ontario Condo Seller Guide

Why a Status Certificate When Buying a Condo In London, Ontario?

When people think of a condominium status certificate, they believe it concerns the amount of money in the reserve fund. A Status Certificate, when buying a condo, contains information regarding the condominium corporation’s operational, legal, and economic dimensions.

Read More

Are you wondering what price your home in London, Ontario would sell for? Have a price in mind, maybe two or four?

• I’d love to get!

• I’m happy to get this much.

• I’d have to really think about it

• There’s no way I’d even consider that

There are several ways to price a home to sell.

Remember that value and price vary between sellers’ and buyers’ perspectives!

• Set aside your view of your home’s value for a moment and consider what it is worth to a prospective buyer. Chances are, you have invested much time and money into making your house the perfect home for you. A buyer doesn’t share your memories or emotions or care about your financial situation.

• Your friend at work or a relative told you what your home is worth.

• You know what your neighbour’s house sold for two years ago, and yours is much nicer.

• A Realtor may give you a comparative market analysis (CMA).  This tool lets you see what other similar homes have sold for in your area.  Ask why certain homes were included on the CMA while others were not. The CMA is an excellent tool for determining an asking price, but it is not necessarily the best.

• Consider going to open houses. Remember to view other homes with the impartial eye of a buyer, not from the perspective of a current homeowner looking to sell.

• The price-per-square-foot formula is a helpful way to compare apartment condos. It is unsuitable for houses, as most homes have different finishes and styles.

• Is it a seller’s market? A buyer’s market?

• Do you have to sell?

• Want to add to this list?

• Or use my 60-point valuation chart, our exclusive home audit, and a scorebook that addresses these questions and others to value your home and help you obtain a price that could exceed your expectations.

Why use a Realtor to buy a home from a builder? Buying a brand new home? Buying pre-construction? Who is protecting whom?

Who is protecting your interests when you buy from a builder?

The advantages of having a Realtor help you purchase a new home are the same as those for purchasing a resale home.

• Knowledge of the market

• Help find the perfect home quickly,

• Expertise in contract writing/negotiation,

• Closing assistance.

Builders have professional representatives, including licensed and unlicensed salespersons, who watch out for their needs. Who will protect you and advocate for your needs?

Lawyers cannot represent both sides of a transaction for a reason!

Your interests need protection when you enter a legal contract for a semi-custom or build-to-suit home. These transactions are complex, and the contract details must be exact to protect you!

Is there any advantage to not using a Realtor to purchase a new home?

No.  There is no financial advantage to buying directly from the builder.  Most ethical builders, including many in London, Ontario, have a “single-price” policy. You pay the same price whether a realtor represents your interest or not.  Like most resales, the Seller pays the Realtor’s fee. There is no extra cost to have an experienced Realtor help you.

Legal Contracts Builders Use Are Drafted by Their Law Firm!

Who do you think the contract favours or is biased for?

Do you know what you want and what you're looking for during the pre-delivery walkthrough of your new home? If something is wrong, what can you do other than receive promises?

If a condominium, you should know:

• How many are sold now?

• Are there rental units?

• Sold to investors?

Buying a home from a builder is much more complicated and time-consuming than buying a resale. Experience working with builders and accessing a database of subdivision information, floor plans, and related details is a must. Familiarity with new-home warranties and builders’ purchase contracts is essential.

Caution– 99% of builders insist your Realtor accompany you on your first visit to the builder’s sales office or model home. They will NOT PAY your representative’s fee!

Want More Tips?

When thinking about real estate in London, Ontario, is it the market, the trends, interest rates, buying or selling?

In one of the most outstanding financial books ever written, ‘The Richest Man in Babylon,’ George Clason writes that there are two kinds of study. The things we learned and knew, and the training that taught us how to find out what we did not know.

I read this book every year to refresh and remind myself of some basic financial concepts. While very simple and maybe too easy, many Canadians do not make wise financial decisions.

Educated or Wise?

Many well-educated people buy or sell real estate without knowing what they do not know when buying a house or a condo in London, Ontario.

“A degree on a wall means you’re educated, much as shoes on your feet mean you’re walking. It’s a start, but hardly enough.” Ryan Holiday

It is like a person complaining of a sore belly goes to their doctor and tells the physician that Dr. Google says it is blah blah blah! The kind physician ( the one not rolling their eyes or thinking, “Oh no, here we go again) will ask questions, identify the cause or the remedy and treat the problem.

In real estate, the same thing happens. Wise, intelligent people listen to what their neighbour or co-worker says, read “How to save thousands when buying real estate,” or watch all those reality shows and then become experts in buying a house or a condo.

As Joe Rogan wrote: “We live in a world today where it’s never been easier to be full of shit!”

Home sellers and their real estate representatives love you because you are the one who overpays for a home (yet brags that you got a good deal or became a complainypant) or finds out that the home has structural issues or a neighbourhood stigma.

In real estate, we do not have a Dr. Google, but we have everyone who has ever bought or sold a home as an expert on how to do so.

You may think money dictates your decisions; in some cases, you may be right. But about 85% of the time, decisions are emotional reactions to wants rather than needs!

The thought of moving to a smaller home in London, Ontario, or the surrounding area, along with the memories and familiarity, can be overwhelming. One day, you realize that putting things off and procrastinating may not be the best choices.

It could be excessive maintenance or troublesome stairs. Sometimes, it is about feeling isolated from family or old friends, or about being closer to amenities you like or services you need.

As a Realtor who has helped hundreds of clients downsize to a smaller place—whether a bungalow, an apartment condo, or a lovely one-floor townhome—I recommend a six— to twelve-month timeframe at least to fully understand the move, research, and consider all your options!                                           

Downsizing And Conflicting Information

If you’ve come this far, why jeopardize all you’ve accomplished now? You have many options, choices, and decisions to make. The better informed you are, the better. This is the question I always ask myself when seeking information.

• Is it true?

• The source?

• Unbiased?

Downsizing And Conflicting Information

If you’ve come this far, why jeopardize all you’ve accomplished now? You have many options, choices, and decisions to make. The better informed you are, the better. This is the question I always ask myself when seeking information.

• Is it true?

• The source?

• Unbiased?

• Competency of the source, for example, is the advice scholarly ( teach but don’t do) or from experience?

• Is the information fear-mongering, from lack or too good to be true?

• What is the objective of the author, writer, or poster? To sell you or guide you?

For example, when I Googled “downsizing a home in London, Ontario,” I got ‘about 6,380,000 results (0.34 seconds)’! For a start, it’s wise to be familiar with your local real estate market, the area you may want to move to, and the best practices for buying or selling a home.

Here are a few more ideas to consider when downsizing.

You cannot depend solely on the MLS or social sites to attract buyers and get them to see your home for sale. To get buyers to see your home, a few ideas:

Did You Know:

• 44% of buyers who toured a home also viewed it online.

• 67% of buyers who walked through a home had viewed it online and taken a virtual tour.

• 88.6%  of the buyers who walked through a home viewed it online that had floor plans and a virtual tour

Wishing is not a Strategy When Selling Your Home!

When your home is for sale on MLS, you enter one of the most competitive businesses anywhere! The primary key to effectively marketing your home is identifying potential buyers.

What do you see when you pick up any real estate magazine or flyer?

The content looks virtually identical:

• Two to six homes with a small picture of the property

• A massive picture of a Realtor, and

• #1 this, #1 that, or a member of so and so club.

Or (I can see your eyes rolling now!) They say honesty, integrity, we care, etc. Well, they better care, be honest, and have all that and more; it’s your home and your money!

Does three bdrm, two baths, a beautiful home, and lovely floors wow you? A clean, good neighbourhood and close to schools put you to sleep? Like this buyer, even one of his dogs!

Your home has a story; it is your past, and your home’s marketing must reflect your home’s feel and energy. Not necessarily the number of rooms.

Most people who can afford to buy a home can count!

When Marketing A Home In London, Ontario & Area To Sell, Some Do’s and Don’ts

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Follow these 12 steps to sell a home in London, Ontario, to help your home sell faster, for the price you want and reduce stress and maintain some semblance of control.

1 Keep the reason you are selling to yourself and your Realtor®.

Keep your motivation for selling to yourself and your Realtor, no one else! When asked, say that your housing needs have changed.

2 Different goals will dictate different strategies.

What is more important to you:

• The money you walk away with?

• How long does it take to sell your home?

• Or both?

3 Do your homework before setting a price.

The average buyer will view six to ten homes at the same time they view yours. That buyer will now have a basis for comparison. If your home does not compare favourably with others in the price range, buyers or realtors will not take your home seriously. A result may be that your home sits on the market longer. Unfortunately, some buyers may assume there is something wrong with your home because it is still on the market.

Homework Before Choosing a Selling Price

4 The discovery.

• Find out what homes in your neighbourhood have sold for in the last 6-12 months.

• Research what current homes are listed for sale (your competition).

• The days on the market

• The percentage of the sold price to the asking price.

That is how a wise prospective buyer and their Realtor will assess the worth of your home.

5 Maximize your home’s sales potential.

Although you may not be able to change your home’s location or floor plan, you can make significant improvements to its appearance. The look and feel of your home generates a higher emotional response than any other factor. Before showings, pick up, straighten up, unclutter, scrub, scour, and dust. Present your home to get a “WOW” response from prospective buyers. 

Allow the buyers to imagine themselves living in your home. The decision to buy a home is based on emotion, not logic.

6 Deciding upon a Realtor

You and your Realtor are partners in marketing and selling your home; negotiation strength is paramount, and the support staff, experience, and tools to handle any situation are good to know.

There Are Six More. You Are Doing Great!

7 Make it easy for buyers to get information on your home.

Buyers who call for information on your home value their time as much as you do. They also do not want to be hassled or frustrated because they cannot reach the listing realtor or because some of the information in the listing is incorrect.

96.7% of homes sold have been previewed with a virtual tour or professional photography! Ensure your Realtor has a proven feedback system that lets you know prospective buyers’ comments and opinions.

8 Do not move before you sell or keep it furnished.

Studies have shown that it is more difficult to sell a vacant home because it looks forlorn, forgotten, and naturally unappealing. Prospects may also assume that, because it is empty, you are motivated to sell quickly and at a lower price.

9 Deadlines create a severe disadvantage.

Don’t try to sell by a specific date. This adds unnecessary pressure and is a severe disadvantage in negotiations.

Keeping Emotions and Expectations in Check

10  Do not be offended by a low offer or individual demands from the buyer. An experienced Realtor can turn these negatives into favourable situations. You will have an advantage over others who become emotionally involved.

Emotions will not alter the situation; it has already occurred.

11 Be an intelligent seller- disclose everything.

Be proactive. Disclosing any problems or defects gives the buyer confidence that you are not hiding anything. This will also prevent liability or legal issues.

12 Make sure the offer is complete. Ensure that all terms, conditions, and responsibilities are clearly stated in the offer and that you fully understand them. An excellent Realtor will take the time to explain and help you understand the conditions and terms, and will insert clauses if required to protect you further

These 12 steps are guidelines; no one can afford to waste time or money, or to adopt a process that will come back to haunt them! There are 187 steps I follow, but for now, these 12 are basic yet important.

Read More at The London Ontario Home Seller’s Guide

Have you been considering updating your home before selling in London, Ontario, and wondering whether it is worth it?

Some updates to your London, Ontario home make sense or should I say dollars? Are you worried about spending wisely, getting your money back, and more?

 The most important question to ask yourself is:” How long am I going to stay here?” 

If you plan to stay awhile, remodelling for your comfort and long-term enjoyment is very different from modernizing to make your home look better for sale. Some remodelling projects take much longer to deliver a good return on your investment.

Updating the kitchen and bathrooms or installing a new roof is always valuable. Excellent choices, such as flooring or paint, are remodelling projects that return almost 100 percent of their cost in value to your home.

The average return within one year of the remodel varies by project size.  Major kitchen remodelling averages 71 percent, a family room addition 77 percent, a master bedroom and ensuite 83 percent, and windows 68 percent.

It is important to remember that you may sell your home someday, so make wise decisions when updating it. You may want to weigh the up-front cost of the project against its usefulness and added value to your home.

If you are considering selling or buying a home in London, Ontario, there are pros and cons to consider regarding renovations and the best return on your dollar. Another huge consideration is the timing, not only yours but also lining up materials and contractors and allowing for Murphy’s Law.

Time and again, when I show or list homes, some or all of these tips would have dramatically accelerated the sale and allowed the seller to receive more money.

Over the years of working with hundreds of home sellers and buyers, the little things a buyer sees may be the stumbling block in making an offer on your home. You have only one chance to make an excellent first impression on homebuyers!

I have personally gone through major renovations on my place, and I learned an alot! I thought I was aware of all the pitfalls and misconceptions tradespeople face, but I was not. 

If you are updating to sell your home, allow me to save you some time and money!

In London, Ontario, pricing a home to sell far outweighs pricing it to sit on the market and hope.

•  A Quicker Sale: This means you save on mortgage payments, real estate taxes, insurance, and other carrying costs.

• Less Inconvenience: When your home is on the market, your lifestyle and schedule will change. Preparing your home for showings and making arrangements for children and pets are two examples. Proper pricing shortens market time.

•  Realtor Excitement: When real estate salespeople are excited about a property and its price, they are motivated! They make special efforts to contact all potential buyers and show the property whenever possible.

• Exposure to More Buyers: Pricing your home at market value will attract more qualified buyers.

• More Eyes on Marketing: Buyer inquiries are converted into showings.

• Reasonable Offers: Buyers may fear losing out on a great value.

Now What?

Further Drawbacks Of Not Pricing a Home Correctly!

• Fewer Showings: Realtors and buyers won’t visit the property if they perceive it as overpriced.

• Helping Your Competition: Buyers will visit other properties that offer better value or that they think they do.

• Buyers Can’t See The Value: Your home may appear to have fewer amenities than comparable homes in the same price range.

• Outside Appraisal Challenges: Appraisers must base their value on comparable properties that have sold.

 Drama should be in the movies, TV or the theatre stage, not when selling your home!

See more from the London Ontario Home Seller’s Guide

If interest rates drop, will London home prices increase? Most likely not, as we are currently in a buyer’s market!

I can state what the real estate market is like today, but what about next week or next month? Motivated buyers or sellers will do what they want, regardless of the market.

As more homeowner mortgages come up for renewal, more homes may come on the market, and for buyers waiting for interest rates to drop, there is the market! However, more homes on the market tend to create a buyer’s market with more buyers and a seller’s market.

Fence-sitting in a real estate decision usually results in a proctological splinter in your finances!

A London home price increase of 2.5 to 3% per month should not be expected. Of course, there will be outliers, but as usual, the sky is not falling for real estate in London, Ontario.

The tariff threats by our neighbours to the south have created uncertainty in the market. We Canadians are strong, and this may be patriotic defiance on my part: “I would rather die standing on my feet than die on my knees!”

I refuse to join the fear-mongering rhetoric. I always see challenges or obstacles as an opportunity to improve, change, or overcome.

Amor fati!

Latin for a state of mind where one not only accepts fate but actively loves it, viewing all experiences as valuable and necessary. 

As a home buyer, here are four pricing strategies homeowners use when listing their homes on MLS in London, Ontario. How would you negotiate if you were a homebuyer, knowing which?

What price?

  Overpriced:

   Every seller wants to maximize the amount they receive. They may have an inflated home value because they got opinions from uninformed advisors and friends, have an over-financed house, or have renovated their home to a standard inconsistent with.

  Somewhat Overpriced:

  35% of homes on the market are overpriced and sit longer than they should. There are two main reasons for this:

• The seller and their Realtor are not in tune with the current market,

• Or the seller has left room for negotiating.

  Priced Correctly at Market Value: 

   Some sellers understand that real estate is part of the supply-and-demand system. They have priced their homes realistically based on a thorough analysis of comparable properties on the market prepared by a competent, knowledgeable Realtor. These competitively priced homes sell quickly and are very close to the asking price.

  Priced Below the Fair Market Value:

  Some sellers are motivated by a quick sale. These homes could attract multiple offers and sell fast, at or above the asking price!

  As a buyer, do you know which strategy is in place?

What if you guessed wrong?

Check Out The London Ontario Buyers Guide

What bothers you the most about buying a home in London, Ontario, and the surrounding area?

In this survey, what were these buyers thinking? Add up 28.17% + 44.17%, and you get 72.34% or 3/4 of their worries! If you take 72.34% and add 9.67% for finding a good Realtor, you get 82.01% of most buyers’ fears.

How would you feel if you had answers to 82.01% of your concerns and had the confidence to buy the right home for you and your family?

Finding A Home Is Among The Least Important Things a Buyer Representative Does.

We have done our due diligence and will only show houses that match your criteria, along with the pros and cons of each.

99% of all homes are listed on the MLS so that anyone can see them. The critical work after “Find” happens when it’s time to evaluate, strategize, negotiate, and manage the 83 other steps before the buyer gets the keys!

Since Adam and Eve went looking for a home, everyone has an opinion on the proper steps and timing when buying a home in London, Ontario. Be it advice from well-meaning family members, pretend real estate gurus, thousands of books, articles, Google searches, Instagram, Facebook, you name it, everyone has an opinion!

If You Have Answers To Those Six Questions Above, What Would Be Next?

You know what you want and can afford; most of your concerns have been addressed. At this stage in your career or life, you do not need drama; you want results, not excuses, not commission-breath salespeople or wasting time on what you are not interested in.

You Move:

You felt confident that the property you chose was right, the price was right, and the home matched your lifestyle and comfort zone. There were a few challenges, but they were addressed quickly and to everyone’s satisfaction!

The Next Step?

Be Fearless When Buying a House or Condo in London, Ontario and Area

It’s crucial to recognize that the fear and anxiety you may be experiencing when making a significant financial decision are not only normal, but they’re also a protective alarm system that most humans have. You’re not alone!

No matter how much research you’ve done, understanding the market and the financial implications of your choices, it’s important to remember that fear, while natural, should not be an obstacle. You have the power to make informed decisions!

I could write a thousand pages of technical jargon and self-promotion about how we can help alleviate fear and anxiety when buying a home, but that will only bore you or come off as a super-realtor ego or a stick-in-the-mud fearmonger!

Regardless of who you choose to help you with your real estate choices, be it a Realtor, Lawyer, Mortgage provider, or tradesperson, it’s essential to consider their approach. Are they transactional, focusing solely on their fee or commission, or are they relational, prioritizing your long-term satisfaction and well-being?

See Our Home Buyer Guide For some great ideas and tips!