The Pen is Mighty: Your Guide to Fine Print in Real Estate

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I wonder if I would have even needed glasses were it not for all the fine print I’ve read over the years in real estate.  Yes, the pen is mightier than the sword, even when the print is as tiny as it is on real estate contracts.

Many people assume all the paperwork involved with buying and selling real estate is always perfect. After all, these are professionals drawing up the contracts, right?

Right, but professionals are humans too. And we know that humans are prone to….. mistakes.

So when I tell you to read all the fine print (actually, read the big print as well), it is mandatory. You are signing contracts for large amounts of money. Do not take these binding documents lightly.  I ask all my clients to look closely, ask questions and never sign something they don't understand.

It’s one thing to sign your child up for tae kwondo instead of ballet.  It’s quite another thing to sign up for a mortgage that has holes in it.  Maybe the area in which you are buying doesn’t allow certain sized homes on less than two acres?  Or you sign up for a mortgage five years longer than you had originally intended.  Not a good way to start your retirement!

What if your property taxes are not included in the monthly mortgage payment like you were told?  Terrible things like that really do happen if you don’t pay attention. Or if you have a real estate agent asleep at the wheel.

Being sharp is part of my promise to my clients. The reason is, often I am called on by them to answer questions about contract details.  Sometimes, answering these questions requires some research.  I do that part too.  This afternoon, a property that I have almost sold half a dozen times has a new interested party.  But they have really good questions, ones I haven't been asked.  So I am digging and working to make sure everyone understands the deal.

Clients trust me to be in their corner to fight the devil that hides in the details. And if I can’t answer them with absolute certainty, we will call upon our trusted real estate lawyer to help us.  You never want a Realtor® too proud to look it up or pick up the phone.

At the end of all real estate transactions you will receive a copy of the contract. Make sure you have plenty of room in your filing cabinet by the way. But having a copy won’t do much good if you failed to read it carefully, or left questions unasked to your Realtor®.

Remember: The pen is mightier than the sword even in the world of real estate. And guess who is holding that powerful instrument at the end of the day?

That’s right. You are.

So make sure you don’t use it until you are 100 percent sure you know what’s on the papers in front of you.

Each and every one of them.

PS: You should get familiar with the many real estate forms listed below.  They are all standard for real estate transactions in Ontario.

Click on a form title in the list below to download. You need Adobe Acrobat Reader to view these forms. Acrobat Reader is free to download here.

Check out this resource detailing consumer data on not reading sales contracts fully and this RECO resource cited in this post.

Don't worry.  I have been doing this for almost 30 years.  I have your back.  Call me or click here to book a conversation or showing at a time that works for you.

Thanks!

Sharon

Is house flipping on TV anything like real life? Kind of.

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Yes, I watch home decor and renovation shows.  I too can get pulled into some of these reality shows about easy real estate deals on TV. Flipping houses like you're making burgers and turning a mundane backyard into an oasis in 30 minutes….wow!

It’s hard not to fall in love with these programs.   But I know the reality and it can be quite satisfying, but rarely do projects tie up neatly in a little bow. 

We live in the real world of real estate in Bancroft where not everyone working on the remodeling crew can be on the cover of a fitness magazine. Are these television contractors personal trainers or builders?

I don’t want to sound negative about these reality shows featuring home buying and selling.  There are some similarities with real life.  The reason everything goes so smoothly on a show about renovating a home or getting a house sold in three days is because of the unseen magic behind the cameras.  

It’s the team in the background, off camera that makes everything come together.

Likewise, I see this happen week after week as I connect buyers and sellers. I have had great success selling homes for motivated sellers. The same holds true for the nice folks I’ve assisted in buying their first house or a cottage for their family or retirement dreams.

And yet, there is the unseen with me as well.  I am not a one woman show.  I too have a team.  My team is made up of a network of solid people I’ve met over the years in my community.

From my fellow Realtors®, to contractors, to local shops and restaurants, to community leaders and local newspapers, I have a slew of wonderful people who make my job possible. 

In the real world, there are speed bumps on the path to buying and selling homes. We can’t just edit out the problems that pop up here and there.  That could be stressful if I were going at this business all alone. However, these challenges are hardly ever a big deal because I know I am not in this business by myself:

  1. I have inspectors I can call on a day’s notice.
  2.  I have go-to service providers who know home maintenance like the back of their hand.
  3. I have two local newspapers where I advertise for my clients, and the papers help me with graphic design and branding. 
  4. I have help answering my phone and organizing my contacts. 
  5. I have mortgage brokers, lawyers and environmental service companies that help structure deals in our region. 

Now, don’t get me wrong. The network I have behind me didn’t happen overnight like an HGTV backyard waterfall installation.  It’s taken me decades to learn the ins and outs of the real estate scene in the Bancroft area. Along that journey, I’ve met quality people whom I can trust.

They make me look good and make life easier for the clients who trust me with their real estate deals.

You can’t believe everything you see on TLC when it comes to home remodels and house flipping.  There is no doubt however, that the teams behind the scenes of these shows help make them a hit.

Similarly, my team has helped me clear the path for plenty of customers. We may not work out a deal in 30 minutes like on TV. But we work together to make the process a pleasurable one for all involved.

See you soon!

Sharon

Does staging a home really work? Sharon White gives you the goods.

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Be Home Smart: What to Look for Before You Buy

Does Staging a Home Really Work?

There is a great deal of strategy that goes into selling a home, and a huge part of that strategy is staging.  However, you must understand what staging actually accomplishes before you put too much faith in the process.

Raising the Perceived Value of a Home

Raising the perceived value of real estate is not the purpose of staging.  Unless the staging furniture and accessories are a part of the deal, no savvy buyer is going to be fooled by an extravagant arrangement into putting more value into the base home and paying more for it.  As a matter of fact, suggesting this even indirectly may offend a more experienced type of buyer, and it definitely should not be done for higher level properties.

What is the Purpose of Staging a Home?

Instead of looking at a home staging operation as a value grab, look at staging as a way to improve the quality of the potential buyer. Because you are showing how a home could look when properly furnished, you give a strong visual to a buyer with the money to actually make that look happen.  Although you be less likely to squeeze more dollars from the buyer as a result of staging, you WILL have more buyers with money looking at your property.  This puts you in a better position to sell over or above asking.  You end up gaining money from a shorter time on market, a smoother closing process and less negotiation over repairs and other particulars.

The Difference Between a Home Stager & Staging Photographer

Properly staging a home is done in two separate steps.  A professional home stager is the equivalent of the merchandising agent for your home; this is the person with the interior design experience to properly match colors, space the home, offer the advice to remove family photos from the stage, etc. 

A staging photographer will find the best angles and lighting for the staging once it is set. You should not look to the photographer for tips on interior design; this is done during the first part of the process! Make sure that you understand the two distinct stages of staging so that you get the best look for your impending sale.  Home staging definitely improves your chances of making a real estate deal smooth and profitable.  

If you have any questions about home staging, give me a call.  We can connect you to the right people, and I certainly integrate some home staging guidance into my support for clients.  I am here to help you improve the volume and the quality of buyer looking at your property so that you have an easier time selling!

Warmly, 

Sharon