Selling A London Ontario Townhouse With A Pre Home Inspection?

Should You Get a Professional Home Inspection Performed Before You Put Your London Ontario Townhouse On The Market?

Home Inspection London Ontario

Getting a home inspected before it goes on the market seems like a strange thing to do at first glance.  Most Realtors don’t even think of having a townhouse or townhome inspected before they list one for sale.  But once you understand how it can benefit you the seller, it turns out to be a very prudent decision.  Here’s why:

  • Home inspections eliminate any “surprises” that can delay or even kill a sale.  They also help the seller negotiate better.  In most cases, the buyer(s) will use weaknesses of the condo  (frequently from an inspection performed after the home is sold conditionally on a home inspection or a status certificate) to negotiate a lower price at a time when the seller is most vulnerable.  Rather than become a victim of such tactics, you can show you’ve already taken their issues into account in determining your price.
  • Getting an inspection before going on the market allows you to understand the real value – knowing what you may need to fix and what you want to leave alone.  It also helps you to price it better and understand what your “net” proceeds will be from a sale.  The strengths and weaknesses of your home are going to be known by the buyer at some point anyhow.  And the sooner you know them, the more you can act to minimize, eliminate, or adjust for them.

Home inspections ensure a faster close by eliminating contingencies and other issues and help provide a problem-free closing.

  • You may also want to order a status certificate BEFORE your condominium is for sale. I would say that 80% of condominium sales in London Ontario are conditional on a status certificate. Again, why not preempt any issues or delays?

Status Report

Receiving an offer for your London Ontario condominium without any conditions will relieve unimaginable stress for both you and the buyer.

 

How To Price a London Ontario Condominium For Sale

How to price a London Ontario condominium for sale on MLS, or a house or any other type of real estate? I won’t go into the debate about “free advice,” you know, your hairdresser, co-worker, Uncle Ted who knows everything about everything, your financial advisor, or the “Free Market Evaluation” postcard or online generalities.

Selling a House in London Ontario

Below are a few things you may want to give considerable thought to when selling a house or a condominium in London Ontario:

  • Not choosing the right price when a property is first listed. In other words, thinking “We can always come down.”
  • Put your property for sale at a realistic price. A property must be priced on a comparative basis to the other features which are similar. (I should add, everyone thinks their home is different, but buyers and their Realtor do not think so.)
  • Relate the time to sell to your price. Generally, the quicker you want to sell, the less you should be willing to take.
  • Calculating brokerage fees on top of the sales price. A home is worth what it is worth, with or without a commission.
  • Thinking that buyers aren’t comparing your home, on a dollar-for-dollar basis, with every other house on the market
  • Do not add up all your credit card debt, car loans, a line of credit, mortgage, that one-month luxury cruise and then $20,000 just for the heck of it, and that is the price! Think I am joking? I was on a listing presentation, and the price they wanted was to be able to do the above.

 

I did not take the listing because they wanted $66,000 above the present market prices. In the end, they went through 3 Realtors and ten months and got $81,000 less than their original asking price!

There is a better way!

Selling a Townhouse In London Ontario Quicker?

When thinking about selling a townhouse in London Ontario & area, where do you start?

Ask about selling a condo in London Ontario

When do you start?

Is there a difference if it is a townhouse or an apartment?

A freehold or a regular condo corporation?

How would you feel if you knew some surefire ways to prepare before selling a townhouse or a town home or an apartment condo in downtown London, if you knew about the timely steps to take, the questions to ask, the caveats to be aware of?

From experience of selling 100’s of condominiums in London Ontario, this will get you thinking and keep you on track before, during and after you list your condo for sale on MLS

   Here it Is!

 

In This London Ontario Real Estate Market, Make It Easy For Buyers To See Your Home

When putting your house or condo in London and area up for sale, have you thought about how and when buyers will see your home?

selling a house with Envelope Real Estate

If possible, schedule showings in the same way that is used by a majority of the homes in your area.  This may be by special appointment or by a lockbox system.   Remember that this will be the buyer’s first contact with your home, and it should set a positive tone.

Make the buyer and agent feel welcome.  Be as flexible on timing as possible.  The buyer may be viewing many homes over a large area.  (The average buyer sees 4-9 homes before making a decision)

Being flexible is very important and while inconvenient or disruptive at times, when a buyer is willing to spend hundreds of thousands of dollars for your home, be flexible.

If you wanted to buy a car on a Thursday afternoon but one of the dealerships is closed, would you go someplace else? Or, you are in London with your family for the weekend only and some homes you would like to see you cannot because the home seller is too busy or tired? ( True story, a $550,000 house and the seller was too busy & did not have the time to keep the house tidy!) By the way, that house did sell eventually, 1 month later for $529,900!

I can recall instances in which the seller came to the door in a hostile way and demanded to know why we were 5 minutes late. Last weekend my clients and I got to a house that we had made an appointment to see (11:30 AM to 12) and we got there at 11:55 AM and the man in the house ranted and raved that we were disrupting his day and yadda,yadda yadda! We left, never even left the hallway and by the way, in this very vibrant housing market, the house has been on the market 51 days! Hmmmmm! I wonder why?

Many people have a strong reluctance to intrude or bother other people.  Remember that the decision to buy a home can be emotional & stressful, you most likely feel the same way when you are selling your home.

I tell my sellers and my buyers, one of the reasons I have less hair on my head (bald) , is let me take the stress and worry, that’s why you are paying me!

What Turns Buyers Off When Looking At Condos in London Ontario

     What Turns  Buyers off  When Looking at Condos in London Ontario & Area?

A messy House does not sell

 ODOURS …Overwhelmingly, the #1 complaint among prospective buyers was unpleasant odours in the  home.  The chief offenders were smoke, pet odours, and strange cooking aromas.  Some buyers turn right around and walk out because they found the smells so oppressive.  Most of us are unaware of the ‘peculiar’ odours of our homes because we become immune to the smells – the buyers are not immune to these same odours.

CLEANLINESS...This # 2 complaint  was that the seller simply did not bother to clean.  We’re not talking about home staging (which will help) or even unrealistic expectations of the home being spotless – just simple old-fashioned cleaning.  Selling your home can be a bit inconvenient, but when you have advance notice that a buyer is coming to view your home – clean it up!!!  At the very least, remove the pile of dirty dishes from the sink.

keep your house spotless when selling it

SELLER AT HOME…Coming in at #3 is having the owners at home while the buyers are trying to view it.     Most buyers felt very uncomfortable with the seller there.  Many said they could not take the time to really look at the features of the home because they were in such a hurry to get away from the seller.  This is a real problem for those selling their own home as they are usually the ones showing.

CLUTTER...The #4 complaint is related to the cleanliness point – the dreaded clutter.  We have all seen it on the home shows, many buyers have a hard time seeing your home because of all your stuff.

 UNFINISHED PROJECTS...Unfinished projects take the #5 spot.  If you are planning on selling your home, finish up any on-going home improvement projects before placing it on the market.  Homes with half-finished painting, flooring, trim, etc. gave buyers a bad overall impression.

 

If your home is priced correctly and you have addressed the other items on this list, it will stand out and sell!

Exclusive Envelope Real Estate Home Audit

Our ‘Exclusive Home Audit’ that we do before putting your home on MLS, on all our websites, on all our social media pages, our blogs, our signage entails these 5 and 31 other points.  We go over everything with you so that you can sell your home quicker, for more money!

  Why is That?

Because we excel at exciting buyers & their Realtor about your home!

Could You Get $10,000-$50,000 If You Sold Your London Ontario Condo?

If you could get $10,000 to $50,000 more for your London Ontario condo, would knowing what  buyers are looking for or don’t care about make a difference? In a recent survey of 3167 Realtors, here are a few insights.

what is in and out when buying a home

IN

  • walk-in closets
  • bright modern bathrooms
  • Energy Star appliances
  • little or no carpet
  • e-smart thermostats 
  • granite or quartz counters

​                                                            OUT

  • laminate counter tops
  • white appliances
  • dark window covers
  • noisy ventilation fans
  • low bathtubs 
  • carpet 

When it comes time to sell or update, keep these in mind, but what if you do not have any of these, or your condo is older or you do not have the funds or time to update?

This is where skill in marketing shines! Where pricing is very important and ‘Molly Maid’ or good old soap and water will make your home shine!

house cleaning

If you could have a room to room breakdown of your whole house or condo that would point out what could be done to improve the home’s value, if it would matter or not; or; would you get that money back if you did the fix ups?

It takes less than 1 hour to do and you will definitely have ideas to increase your home’s value. Many client’s have told me they got anywhere from $10,000 to $50,000 more, SO you can too!

  If $10,000 to $50,000 more in your bank account is important to you, let’s get together. There is no fee for this, there is no obligation and I won’t hold your children , your pets or your spouse as hostage.

 Why not see how you can get more money now!

Get The Inside Scoop Before Selling a Condo in London Ontario

Put Your  Condo  In London Ontario Up For Sale & Feel Better About It

Selling a condo in London Ontario

When thinking about putting your condo on the market, there are little subtle things that start to add up and if not checked in time, can mean the difference between your asking price & actual sale price and how much longer it will take your condo to sell, or not sell!

Before putting your condo up for sale, learn how to:

  • Dress Up Your Condo To Sell For More

  • Price  it Correctly The First Time

  • ​How Not To Limit  Market Exposure

  • ​Know The Difference Between Market Value & Perceived Value & What That Will Mean To Your Bottom Line

  • What Are Your Legal Obligations? To Your Lender? To Your Condo Corp? To Your Family?

  • ​How The Overall Market  May Affect Your Home Sale – Positive or Negative?

  • Can Negotiating Skills Make a Difference In Your Sale?

  • How To Handle Buyers During a Showing To Help Yield The Highest Price.

  • ​When Are The Best Times To Have Buyers Go Through?

Getting a thorough understanding of these points will give you 100% confidence in your decision to sell your home, also, 100% confidence in your Realtor!

Now, how would you feel?

 Why Not Get The Inside Scoop On Selling a Condo In London Ontario & Area?

 

Selling London Ontario Condos & Getting Results

   If You Knew That When Your Condo Was For Sale, It Sold Quickly And For The Money You Want,  Mean To You?

I really get it that thinking about selling your condo in London Ontario & area for hundreds of thousands of dollars is not something you do every day, it is one of the largest financial decisions you most likely will ever have to make!

Sell your condo in London Ontario for more

Over the years I have helped hundreds of condo owners sell their home and most, if not all, had fears, some had poor perceptions or even false information and all had concerns about pricing , how long it will take, what will it cost and choosing the right brokerage and representative to help.

  

Questions need answers when buying a condo in London

Choosing to choose is a mantra that successful people have used for years which translates into the fact that all the results we get are from our choices!

The price you receive and the time it took to sell is because you:

  • Chose the listing price of your condo (or you agreed to what your sales person said the price should be, but it still was your choice)
  • Chose the real estate person to represent you
  • Chose how you wished to be treated, responded to
  • Chose the condition of your condo when it is on the market, the tidiness, cleaness and upkeep

 

A great Realtor will not let you gamble with one of your your largest investments, will not give you false hope or convince you to take what could be a very expensive risk on your part.

A true professional will explain the pros and cons of the options available and if you choose that professional, your condo will sell for the market price in the time frame you want and you can move with confidence.

Again, choose wisely!

Selling a condo in London Ontario is like any other journey, you have set a date and a destination. Now the most important part, how are you going to get there?

  • When?
  • What’s it going to cost?
  • Why?
  • What’s the safest way?

​ I’ve put together some reports I have written, some lessons I have learned, some insider tips and ideas that after reading these, you will be well prepared and on your way to getting what you want for your home when you sell it!

Sell A Condo London Ontario-Get Results

           Where First Does a Condo Buyer See Your Listing?

96.7% of homes sold , be it houses or condos , have been previewed by buyers on websites, either through Realtor’s websitesMLS  or social media ! That is a huge number and why it is extremely  imperative when putting your home for sale in London Ontario & area  to have a great web presence or three!

Real Estate Websites

Below is How  Home Buyers First See a Home

  • 59%  Salesperson contact
  • 27% For Sale Sign
  • 8%  Referred by a relocation service 
  • 3% Through family or a neighbour
  • 1% An advertised property in a magazine or print ad
  • 1% Through an open house they saw
  • 1% For Sale by Owner

  Knowing the above numbers and how buyers find your home among all the other condos for sale in London Ontario & area on MLS or a private sale that are competing with yours, will enable you to make some wise decisions when it comes time to put your home on the market

   Exposure and traffic sells homes! Do you not think that a 14% of market share will make a difference?

They say that money is not everything but it is to you when buying or selling real estate! We expose our properties through 37 different channels, from signage, newsletters, e-zines, MLS, social media and websites and we work with 3 relocation companies.

Here’s the thing!

As Realtors, we do not get paid until your home is sold and you have moved out. We are able  spend $6,000 to $10,000 a month on marketing and attracting buyers to our clients homes because we get results and are prepared to risk our hard earned money before we even receive a dime!

So, if money is not everything, who you going to call?

                                                          Sutton Group Envelope Real Estate

  • 14 % market share in London Ontario and area
  • 6,766 Realtors Across Canada for referrals
  • 100% Canadian
  • Success Leaves Clues

2017 Market Share Sutton Group Envelope Real Estate

Sutton Group Envelope Real Estate Market Share London Ontario

Here are a few downloads that will show you how detailed we are , yet flexible, yet open to improvement and our company principle that being good is just average & being average is easy, being above average and being great is a constant reminder to not be content, to not be lazy, to not allow ego to cloud common sense, to work harder and smarter than every one else & be diligent each & every moment.

We do not spam, trade or sell contacts, pester, bug, morse code or telegram, however, if you respond in any way to us, we will respond promptly.

Shortage of Condos For Sale London Ontario

There is a real shortage of condos for sale London Ontario including townhouses, town homes and apartment condos!

The London and St Thomas Association of REALTORS® (LSTAR) announced 400 homes were sold in January, down 28.8% from January 2017, which held the record for best January results since.

London Ontario Real Estate Market Graph

Why were sales down?

Very few homes for sale! There were 623 new home listings on MLS, down 31.8% from last January, and there were 1,020 active listings, down 27.7% from this time last year.

Average home sales price continues to rise across London and St. Thomas. The average sales price in the region was $333,424, up 9.8%, London South was $351,167 , up 11.5%, London North was $397,075, up 6.2%, London East, was $294,348, an increase of 32.1% from January 2017.

In St. Thomas, it was $247,135, up 19.7% over last January. 30 homes sold in January in St Thomas, down 36.2% from last year. There were 66 active listings, down 34.7% from last January, and there were 46 new listings, down 32.4% from the previous year.

As you can see, this is a seller’s market. A seller’s market is when there are more buyers than sellers and a lack of good homes for sale.

sellers Market London Ontario

What does this all mean?

If you were ever contemplating selling a house or a condo in London Ontario and area, now is a good time to capitalize on the market. Will the spring be better or worse? Who knows but what I do know, gambling on home prices is even worse than investing or should I say gambling in the stock market, mutual funds, playing the ponies or flipping a coin!

The following chart is based on data taken from the CREA National MLS® Report for December 2017 (Canadian Real Estate Association). It provides a snapshot of how average home prices in London and St. Thomas compare to other major Ontario and Canadian centres.

January 2018 London Ontario Real Estate Market Results