Selling October 14, 2022

5 Ways to Write a Winning Offer

The real estate market currently has more sellers than buyers, however, homes are still receiving multiple offers.

 

Here is a quick guide to help you write a winning offer.

 

Demonstrate Solid Financing

 

Seller’s favour offers that have a higher odds of closing. The truth is, no one gets paid if the home sale falls through.

 

The most solid financial offer is an all-cash offer, but the chance for this kind of offer is realistically low. 

 

The second most ideal offer is to have the financing in place and get pre-approved for a mortgage before the house-hunting process begins. A pre-approval letter shows the sellers that you are able to and are committed to purchasing a home.

 

Another thing to consider is the reputation of your lender, whether it be a private lender or a financial institution. Sellers won’t consider your lender’s reputation, but realtors often do. In general, some lenders are a lot more efficient than others. If you are finding it difficult to choose a lender, your Realtor can help you choose the best one for ease of business.

 

Put Down a Sizeable Deposit

 

A sizable deposit can also increase your chances of standing out as a serious buyer. A deposit is different from a down payment, so make sure you don’t get the two confused.

 

The brokerage or lawyer holds a deposit in trust until the purchase goes through. Once the purchase goes through, the deposit will is applied to the down payment and closing costs. Putting down a larger deposit is risky because you can partially or fully lose the deposit if the sale falls through. Check your contract terms.

 

Deposits can vary in amount, but offering an above-average deposit can show sellers you are serious about the property.

 

Ask for Few or No Conditions

 

Conditions are set in place by the buyer, a series of clauses that the buyer and seller must complete, or they can back out. These conditions appear in the purchase agreement and are legally binding once agreed upon by both seller and buyer.

 

Two of the most common conditions are:

Financing: A financial condition is a financing window of time the buyer has to gather funding for the home purchase. If they can’t meet the financing requirements, they can withdraw their offer, and the seller can move on to other buyers.

Inspection: An inspection condition requires a home inspection to be completed before purchasing the home. Usually, they are meant to discover pre-existing issues with the home, such as structural, electrical, plumbing, etc. Sellers can choose to fix the problems before the buyers move in, or sometimes re-negotiation of the final purchase price can occur, depending on the financial cost and work to be completed. If an agreement is not met, the buyer can choose to withdraw from the contract.

 

The more conditions that need to be met for the contract to go through, the offer becomes less desirable and weaker. In a competitive market, oftentimes, buyers are encouraged to voluntarily waive certain conditions to have the request go through easier.

 

Fewer conditions mean that there is less “red tape” to go through to complete the transaction, but missing things like a home inspection comes with a risk. Perhaps the home has many hidden repairs that will come out of the new buyer’s pocket, as they were not caught beforehand. 

 

Offer a Flexible Closing Date

 

When an owner is selling their home, money isn’t everything. Sometimes having a flexible closing/moving date is appealing because it can create the lead time needed to move into their next home. 

 

A flexible timeline can provide an excellent advantage for first-time buyers. If you are currently renting and can extend your month-to-month lease, this would be ideal for offering more flexibility on the closing date.

 

Doing so might edge out the competition or have no impact at all. Confer with your Realtor to see if this is an impactful move.

 

Work With a Skilled REALTOR®

 

In this competitive real estate market, the most significant advantage you have is to hire a knowledgeable realtor. They will have the skills and know-how to guide you through home buying/selling.

 

Realtors write up offers daily and will know what works well and what doesn’t. 

 

Once your offer is accepted, the Realtor will also be the liaison between you and the seller/buyer. They can write up the paperwork and lead fair negotiations. They should have your best interests in mind and the knowledge to make your home-buying journey lovely.

 

A competitive offer in today’s market doesn’t necessarily mean the highest bid or the one with no conditions. These tips should help you sweeten the deal and hopefully get you in the house you want.

Now that you have all the information to write a winning offer, try it yourself or with the help of a trusted local REALTOR.

 

Lifestyle September 30, 2022

How to Make Your Bookshelves Shine

 

I have often thought about having wall-to-wall bookshelves and a library, but then there is the issue of trying to fill up the shelves thoughtfully. Careful curation of objects and books can add charm and personality to your space. Here are a few great ideas to mindfully decorate without cluttering up your bookshelves.

Stack Books Horizontally and Vertically

The secret to styling a bookshelf is to create areas of interest. Start by stacking your books horizontally and vertically to engage the eyes. If you plan on adding objects around the stacks of books, leave gaps. A few well-placed items or artwork give the bookshelf a flare of your personality and break up the visual cues.

Pro tip: Mix and match the colours of books in the stacks to add an eclectic flare, or if that isn’t your style, format the books with like colours for an organized look.

Lean Art

Artwork is a fabulous way to style your bookshelves like a pro with added visual interest. Create a bookshelf design moment by placing framed art and ornate objects amongst your books. Place taller artwork and objects on the top shelf for added drama. Try to layer different art and frames to create a relaxed multi-layered look.

Create Vignettes on the Shelves

To prevent over cluttering your shelves or having it look like a thrift store, try to create vignettes (curated style statements) on each shelf. Focus your efforts on creating cohesive vignettes one by one to not overwhelm yourself. Start by adding books vertically and horizontally, then consider adding complementary objects and artworks—be careful not to overfill the space and keep some blank space to visually break things up.

Hot tip: Arrange your vignette books and objects in different ways, changing up the colours, style, textures, heights and shapes. A great rule of thumb is to arrange in odd numbers.

Add Greenery

Plants bring a lot of beauty, life and freshness into a home. When paired with a matching decor pot, they add vibrancy and colour to your shelves with little effort. Plants are ideal for creating height or adding a stunning trailing plant to cascade over a ledge. Check out fake plants or statement vases with twigs/dried grasses if you are worried about keeping live plants.

Use Bookends

Bookends are not only art pieces but also functional to showcase books in various ways. Unique bookends can add a lot of style and texture to your vignettes. If you aren’t keen on bookends, using heavy potted plants to prop up books is a great alternative. 

 

I hope these tips have given you an idea or two on how to style your bookshelves with purpose. If you feel overwhelmed, take a step back and carefully select your best pieces and books to display. My all-time favourite shelving units are from String Furniture.

Contact your local REALTOR® to find a great house to create your little library!

 

Homeownership June 30, 2022

Home Toolbox Must Haves

Even if you aren’t handy, that is okay, and it is still nice to have all these tools on hand for any break or project that might happen. The right tool in your toolbox could mean the difference between a big problem and fixing it temporarily and reducing it to a small one. Of course, feel free to call the professionals if the job is too big.

Owning these must have tools and being prepared to use them will save you time and money.

 

1. Hammer

A hammer is the number one pick to have in your tool kit.

However, with the variety of hammers on the marketplace, make sure you are looking for the best multi-purpose hammer. 

Choose one with a “claw” back for pulling out misplaced nails and a flat head for a smooth finish. A comfort handle is also lovely to prevent hand pain or vibrations. The best hammer weight is 16 ounces.

After purchasing the hammer, don’t forget to buy finishing and general utility nails!

 

2. Tape measure

A tape measure should be your second toolbox purchase. Measuring is essential for many jobs, including hanging picture frames, planning furniture, flooring purchases, etc.

Any tape measure will do, but remember that the broader (¾ inch) tape measures won’t collapse on themselves and will withstand long-term use.

 

3. Level

A level is fundamental when moving to a new place to hang all those shelves, artwork and picture frames. These can be of value when building furniture to ensure they are straight and level. 

A level is also great for ensuring your fridge and oven are straight, preventing things from rolling off. A two-foot-long level would be the best multi-purpose choice.

 

4. Flashlight

A flashlight is great for multiple reasons, whether the power has gone out or your cat has lost its favourite toy under the sofa. A flashlight is excellent, but even more helpful is a headlight. They are nice to have for small spaces and target light.

I also recommend keeping some spare batteries with the flashlight just in case or for other electronics.

5. Allen key set

The easily assembled furniture by Ikea popularized allen keys. They are also just great to have around. They are “key” for assembling or disassembling household devices, structures and furniture, which are often held together with hexagonal screws. 

Think about purchasing a complete set of allen keys for the variety of sizes you may encounter. Trust me, they are instrumental to have around—you never know when you will need one in a pinch.

 

6. Screwdriver set or multi-bit screwdriver

Screwdrivers and screws come in a variety of different shapes and sizes. 

A multi-bit screwdriver is excellent for space-saving, but they can be flimsy during specific projects. A set of screwdrivers will take up more space but are sturdier for many tough jobs.

Overall, they are fantastic for whatever handy jobs are thrown at you.

 

7. Utility knife

A good quality knife is an excellent addition to any home, especially for first-time homebuyers. It is perfect for opening and breaking down all those moving boxes. They are not only great for opening packages but also for cleaning up caulking and trimming carpets. 

Make sure to grab a sturdy full-size utility knife for product longevity. 

8. Duct tape

If you are from Canada, you will know that the Red Green Show swears by this stuff. Duct tape is excellent for adhering to almost any material and is incredible for fast fixes! It is perfect for fixing holey tarps, organizing or fastening power cords, patching hoses and even fixing a leaking tub. I have temporarily stopped a pesky pipe leak with a piece of gum and duct tape before. 

9. Pliers set

A plier set would be ideal, but if you are looking for space-saving, I recommend needle nose pliers and linesman pliers. 

Needle nose pliers are great for manipulating small objects or reaching that piece of paper that fell between the fridge and wall. 

Linesman pliers are ideal for stripping electrical wires or tightening bolts in a pinch. 

Invest in a good set or pairs of pliers for overall strengthcheap ones easily break.

 

10. Handsaw or hacksaw

A handsaw is excellent for smaller projects where only minimal sawing is necessary. A saw can help quickly cut pvc pipe or doweling. However, a power saw or jigsaw might be a better option if you are looking at sawing things more frequently.

 

11. Adjustable wrench / wrench set

Wrenches are a great set of tools to have. In my experience, they are great for plumbing, putting furniture together and mechanical work. 

It would be beneficial to have a wrench set with long handles that are good for leverage, and short handles are great for tight spots.

An adjustable wrench is a friendly do-it-all tool, but there are limitations to what it can do. A wrench set would be the better choice.

Look into open crescent wrenches and closed ratchet wrenches for various needs.

12. Power Drill/Driver

Power tools might be intimidating, but owning a power drill makes life a little easier. Instead of turning a screw 100 times and stripping it with a regular driver, a power drill gets the job done in seconds. I have used my power drill more times than I can count, and it has been an excellent addition to my tool kit. A cordless option is best to avoid the limitations of cords.

 

While you don’t need to buy every single tool at once, I recommend purchasing these tools as problems arise, but it doesn’t hurt to go out and buy them all at once. As time goes on, you will find better tools for the job, but these are essential tools to cover various issues that will arise.

If you need a home to use all these tools on, contact your local REALTOR® today!

BuyingHomeownership April 8, 2022

5 Conditions To Withdrawing Your Offer

Okay, so you have found the house you LOVE, you’ve submitted your offer to purchase, and you’re mere inches away from having those keys in your hands to your new abode.  “Saskatoon Homeowner” has a nice ring to it!  But what if your feet start getting cold?  Or what if you get a fantastic job offer in a different location?  Is there still time to withdraw your offer?

The short answer is “yes,” but there are some conditions.  You can still back out so long as the offer or counter-offer has not been accepted and communicated by the seller and their agent.  However, there are a few things to keep in mind when buyer’s wish to retract communicated offers.

A valid contract requires an offer and acceptance of that offer.  For the seller’s offer to be valid, that acceptance must be communicated promptly to the Buyer that has made the offer.

Communication of acceptance through a telephone call, fax or email are all valid means of communication, as deemed by the Saskatchewan Real Estate Commission. 

Confirmation of acceptance is not an essential element for the contract to be valid.  Provided that the approval of the offer has been communicated to the Buyer, confirmation or acknowledgement of the accepted offer is not required for the contract to be valid. 

Acceptance communicated to the buyer’s agent counts as a sufficient point of contact to establish the contract.  Buyers or sellers need not communicate directly with the other party as the agent representing them is a viable placeholder.

The Buyer can be bound at any time after submitting the offer once acceptance is communicated to the other party.  Be it by after-hours fax to the brokerage office or an unread email, the contract is cemented, and the Buyer is no longer free to withdraw. 

The moral of the story is that it’s all about communication and that before submitting the offer to purchase, it is best to be as sure about the property as possible.  If you have changed your mind and the offer is already submitted, you will need to contact your agent ASAP.  Time is of the essence for your agent to act as quickly as possible in your favour to communicate the retraction to the other party before it is accepted, preferably in writing.  If the offer is accepted before the Buyer’s retraction or the Seller disputes the retraction, you must seek legal counsel. 

Our highest recommendation is to have a trusted and knowledgeable REALTOR® by your side, assisting you in navigating the local housing market.  Whether it’s buying or selling, we’ve got all the tips and tricks to landing you your dream home!