Your London Condo Corporation & Selling Your Condo

When thinking about selling your condo in London Ontario, besides the price and whom you select to represent you, you may want to get in touch with your London Ontario condo corporation before you list it on MLS.

checklist when selling a condo in London Ontario

99% of the time, if you and the buyer agree on price, there will be a condition 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 looking at the financial status of the corporation, to see if there are any unpaid condo fees or assessments from you, if there are any infractions, such as a screen missing, an unauthorized addition such as a deck, satelite dish etc.

You would be surprised at the amount of hasty remedies, discussions that occurs if a lawyer finds out some things that you were not aware of.

To ensure a smooth sale, take the time and effort to find out if there are any issues that could effect the final sale of your condo in London Ontario.

The above step is only one of many we take to help our client’s sale go smoother with less headaches and no surprises!

It is the professional way

Buying a London Ontario Condo?

In a recent survey, the biggest and most costly error home buyers make is how they start the process of buying a home in London.

Usually the first step is deciding you want to move,  to stop renting or downsizing from a larger house. All good so far.

searching to buy a condo in London

Then, most will go and talk to a good mortgage lender( this is a major and crucial step and be careful whom you talk to, I cover that in another report) to see if you qualify and for how much. How much of a down payment and what would your average payments be. Again, you are on the right track.

Then what?

Yup, most start searching the MLS listings, Kijiji, real estate websites and real estate magazines (that are usually a month late) and what do they do? Call 4 or 5 real estate sales people who have listings they want to see and set up an appointment.

While making those appointments you hear the same thing:

  • Are you preapproved for a mortgage?
  • Are you working with an agent?
  • Do you have a house to sell?
  • Perhaps a few more personal questions or the name of your cat or dog!

Questions about buying a home in London Ontario

Then you go see a few homes, if you like one you may put in an offer with the listing sales person  without any research or thought of the long term consequences.

Or, the homes you have seen are not to your liking, but you like the sales person and they convince you that they can help you look for something else, again, without any research of that agent or thought of the long term consequences!

The wisest thing you can do after you have made the decision you want to move, is to research and contact the real estate sales person who has the skills and experience and whom you will entrust your hard earned money to!

Maybe interview two or three.

Then when you have confidence in the sales person you have chosen, that good real estate person will research properties on your behalf, make appointments to match your time table, protect you in the buying and offer process and be there if any challenges come up.

Do you not think that having that type of representation would be better for you than just entrusting that binding faith with just anyone? A friend of a friend, Uncle Joe’s distant cousin who just got her license and needs some money, or your co-worker who’s husband ‘does’ real estate on the side!

11 Questions You may Want To Ask a Real Estate Person BEFORE you start!

How To Get Results When Selling a Condo in London Ontario

When selling a condo in London Ontario and to get good results, first impressions make a significant impact on a buyer’s decision-making process!

Once your condo goes is listed on MLS, it becomes a product. Home Styling simply allows you to highlight the best of your condo and de-emphasize its flaws. It’s not about decorating, but actually turning your home into a model, to appeal to the broadest range of prospective buyers. The goal is to make people feel like they could live there, and the best way to do this is to “neutralize” the surroundings.

Sell at a Top Value Prepare Before Selling
Try out these helpful styling tips that out team of professionals use. Things you can do for little or no expense—to put a condo in prime showing shape.

  • Clear out closets and clutter—sellers can give away or pack up toys, linens, and small kitchen appliances to store offsite. Buyers are also forgiving of storage boxes neatly tucked away in a garage or basement.
  • Focus most on the most visible areas—the foyer, kitchen, living room, master bedroom, and family room.
  • De-personalize the home by removing photos, mementos, and dated items.
  • Use plants in colorful pots or inexpensive wicker baskets to fill in empty spaces.
  • Try angling one or two pieces of furniture slightly and move furniture 4 inches to 6 inches from the wall to create more interesting room spaces.
  • Put away large collections— porcelains, plates, and so on.
  • Remove valuables, prescription medicine, collectibles, and breakables.
  • Refrain from cooking anything that leaves a distinctive odour, such as fish, garlic, or cabbage.
  • Hire a professional service to clean the home, including the carpets and the windows.
  • Set the dining room table with attractive linens, dishes, and stemware.
  • A mirror in a pretty frame can make a small room feel more open.
  • Use as much natural light as possible. Add extra lamps in dark rooms or corners.
  • Make functional repairs—fix dripping faucets, sticking doors, lightbulbs

Read more about :

It All Starts With Creating Curb appeal  Page 3

The Entry Way Sets the Stage     Page 5

Tips for Every Room In the House  Page 6

Making the Most of Your Kitchen and Dining Room  Page 8

Can The Buyers See Themselves Living in the Living Room? Page 10

Make the Bathroom Sparkle  Page 11

Look at These Big Beautiful Bedrooms!  Page 12

Create a Clutter Free and Functional Home office  Page 13

Making the most of the Basement / Laundry Spaces Page 14

101 ways to sell your condo

12 Tips To Sell Your London Ontario Condo

Even though houses in London Ontario are selling quite well,  36% of London Ontario condos and houses listed in the London area take over 60 days to sell or not sell at all!

To maximize your home’s selling price there are steps you can take to ensure that your home sells quicker, reducing stress and maintaining some control of one of your largest financial decisions in your lifetime.

Home not selling

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

Do not reveal your motivation for selling to anyone else because they may use it against you at the negotiating table. When asked, just say that your housing needs have changed.

Different goals will dictate different strategies.

What is more important to you: the money you walk away with or the length of time your property is on the market or both?

3 Do your homework before setting a price.

The average buyer will look at 15-20 homes at the same time they are looking at yours. That buyer will now have a basis of comparison, and if your home does not compare favorably with others in the price range, your home may sit on the market for a longer time.

More Homework.

 (A good Realtor should do this for you) Find out what homes in your neighbourhood have sold for in the last 6-12 months, and research what current homes are listed for. That is how a prospective buyers and their Realtor will assess the worth of your home.

Maximize your home’s sales potential.

You may not be able to change your home’s location or floor plan, but you can do a lot to improve its appearance. The look and feel of your home generates a greater emotional response than any other factor.

101 Ways To Sell Your House in London Ontario

Deciding upon a Realtor

You and your Realtor are partners in marketing your home. Choose carefully and wisely.

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

Buyers calling 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 get a hold of the listing Realtor or some of the information is incorrect.

Do not move before you sell.

Studies have shown that it is more difficult to sell a home that is vacant because it looks forlorn, forgotten and simply not appealing. As well, buyers may think because it is empty, you are motivated to sell fast and for a lower dollar.

Deadlines create a serious disadvantage.

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

10 Keep emotions in check.

Do not be offended by a low offer or certain demands from the buyer. A good listing salesperson can turn these negatives into a positive situation.

11 Be a smart seller- disclose everything.

Be proactive, by disclosing any problems or defects you are giving the buyer confidence that you are not hiding anything.

12 Make sure the contract is complete.

Ensure that all terms, conditions and responsibilities are spelled out in the offer and that you fully understand them.

.do not sign anything without checking first

All the above steps , though simple and easy to do, are not often done, perhaps because they are so simple and easy to do.

From experience, my clients have commented that thoroughness in getting their house sold and the systems I use were outstanding! (Their words, not mine!)

 Would you like to discuss how to maximize the price of your home?

Sunningdale London Ontario Real Estate Prices

    The first 6 months of 2017 for houses in the Sunningdale neighbourhood of London were quite volatile with 47 houses changing hands for an average selling price of $815,863 which was close to the asking price and the same for the 37 condos that sold for an average $463,555 , all taking about 30 days to sell!

The Sunningdale neighbourhood in London is reflective of the torrid pace of sales throughout London Ontario and the rise in prices.

Will it continue?

 

Search houses for sale Sunningdale London Ontario on MLS

2016 Numbers

75  houses in Sunningdale in London Ontario were sold in 2016 (same as in 2015)for as low as $410,000 to $866,000 and these sold for 98.6% of the asking price on average  and these took about 32 days to change hands!

31  Sunningdale condos were sold through our local MLS real estate board starting from $259,000 and as high as $629,000  which avearged 99.1% of the asking price and  took about 49 days to sell.

In 2015

  75 houses were sold on MLS in 2015 for an average price of $618,674 which was 98% of the asking price and these were on the market an average 68 days!

  19 condos changed hands at an average price of $368,408 and these were on the market an average 50 days and sold for 2% less than the asking price!

            one floor condo in Sunningdale in North London          A beautiful Sunningdale home in North London

    The Sunningdale neighbourhood is located in North London bordered by Fanshawe Park Road West, Richmond Street, Sunningdale Road West and Hyde Park Road and includes Medway Park and Hyland Estates.

   A very short drive to the Masonville shopping area and dining and the big box stores in Hyde Park. Easy access to the University of Western Ontario (UWO or Western), it’s hospital and nearby  research centre.

    5 minutes to downtown London and quick access to great beaches along Lake Huron such as Ipperwash, Pinery Provincial Park, Grand Bend, Bayfield and Goderich.

  The houses and condos in Sunningdale are tastefully laid out with many enclaves and one of a kind homes.

 

 Sunningdale Google Map

Other London Neigbourhoods

UpscaleTownhouse For Sale in Stoney Creek London Ontario

Photo Link
Quality Finishes Through Out for this great 3 bedroom, 2 1/2 bathroom townhouse for only $259,900 and located at 1921 Father Dalton Ave in London Ontario

What a fabulous split level condo townhome with 3 bedrooms and 2 1/2 baths in the Stoney Creek neighbourhood of London, close to great schools, the Y and plenty of shopping.

This unit has some recent upgrades, such as new hardwood through out, paint and trim, carpet in two bedrooms, new stove and dishwasher, back splash in kitchen. A raised deck off the kitchen eating area is a very nice touch for relaxing or that BBQ dinner.

A beautiful bright and eat in kitchen, built in computer work station and on the upper level is the huge master bedroom with an ensuite.

The lower level has a nicely finished rec room, utility and laundry with lots of storage. 6 appliances, central vacuum and all window covers are included. A real pleasing, warm, family home, lots of guest parking.

This is a gem, there will be an Open House on Sunday July 9 between 2-4 and offers will be presented at 6:00PM that day.

Property information

How Not To Overpay When Buying a Condo in London Ontario

How do you, a buyer of a condo in London Ontario, able to act quickly when the condo you like either has multiple offers or the threat of one?

Yes, the condo market in London Ontario is heated as these April statistics say it all.

Being prepared ahead of time is one thing you could do, the other is what I call market education. That means knowing what is on the market as far as styles, prices, neighbourhoods go. What will happen is that once you grasp what the condo market is doing, you can make a decision based on facts and not fear of loss or impulse!

Do not be lulled into complacency as the results can be you overpaying or choosing the wrong condo in London Ontario!

Cosigning a Loan To Buy a Condo in London Ontario?

What are the consequences if your daughter and her husband want to buy a home, but recently asked you to “Co-Sign” on the loan?

Cosigning a loan for a condo

There’s nothing wrong with helping a family member or close friend with buying a home.  However, co-signing on a loan should be done with great care and knowledge of the consequences.  Co-signing means that you are extending your personal credit for the benefit of someone else.  Problem is, if the borrower defaults, the lender will look to you for full repayment.  So you’re not really a co-signer, you’re a co-debtor.  Here are a few tips that may prove helpful when co-signing:

Although you’re co-signing, make sure your co-borrower is putting cash into the transaction.  The more they put in, the lower your risk.

Obtain a credit report on the person you’re co-signing for, even if it’s another family member.  If they’ve defaulted on other debts, there’s a good chance they’ll default on the debt you’re co-signing.

Ask the lender to release you from the loan when the principal balance is reduced to a certain amount.

Examine how your credit rating and ability to borrow will be impacted.  Co-signing on a loan can sometimes impact your ability to get financing if you need it.

Make sure your name is listed on the deed as a co-owner.  And by all means, speak with a good real estate lawyer.

If your son or daughter separate, who owes what on the home? You could end up buying out one or the other.

If the home is sold, will you share in any appreciation or gain in value?

These are only a few of the consequences let alone the dis-harmony between families or a friend. I have advised and helped many families over the years, so not only is a competent lawyer and lender required, but a real estate person with your interests in mind.

Let me share my experience with you.

Reading This Will Cause Your London Ontario Condo To Sell

I read that most people spend more planning a vacation than their financial future and as a Realtor, I can say most people do not spend enough time planning the sale of their condo!

Focus sells condos

Oh, they may read articles about staging, lighting, maybe even search properties on line and then , that is it!

Very little planning is done about how the condo could be marketed better, when it should be marketed, who will market it, what skills do the people you choose to help have, including your lawyer, a listing Realtor who has experience with condos, perhaps even  your finacial advisor or accountant.

 Here are some free links to help nudge you toward making wise decisions!

Pine Valley Condos London Ontario in Demand

The one floor Pine Valley Condo town homes (townhouses) in London Ontario are highly sought after because of the location and the size of the units.

There are 4 clusters of these on Pine Valley, being:

Starting in the $260’s, they offer one of the best values in London Ontario. At present, with the demand for one floor condos being extremely high, there are none available for sale, but stay tuned, I have a few coming up soon.