Test your Knowledge – Common Real Estate FAQ’s Answered
Updated: Jan 21
A FAQ is a frequently asked question. As you can imagine, in the real estate industry there are a number of them. I have gone through some records and pulled out some of the ones I get asked a lot and will include them here along with my answers.
Ready? Here we go!
1 – Hardwood was a trend but now people are painting over it. Is this a new trend?
Hmmm. How do I answer this? Trends do have an impact on real estate but what is going to help you sell your home faster is if it has a look that attracts the right buyer. I know, that sounds so basic, but it is true. For example, your home can have a really funky design highlighted by some extraordinary fixtures, features and what have you but it may not be precisely the kind of home for the demographic your neighbourhood is geared toward. I guess what I’m saying is that there is nothing wrong with having a trendy look to your home but too trendy is going to narrow down the prospective buyers who may find it to their liking. Hardwood bare or painted.
2 – Can I cancel my listing agreement now that I’m having second thoughts about selling?
It happens. But if you suddenly decide to pull out of the market for whatever reason, you must let your Realtor know immediately. The reason for this is that when you sign the listing agreement you give the real estate brokerage the right to market your property. Depending on when you choose to pull out, the brokerage will have likely spent some time and money on your listing. Unless the contract says otherwise, you shouldn’t end up with a monetary penalty for changing your mind, but if the Realtor asks for some kind of cancellation fee, be respectful of their time and effort and see what kind of arrangement you can make.
3 – Do buyers need to arrange for a home inspection even if the seller has provided one?
Smart sellers will do anything possible to move their property in the marketplace. By having a recent home inspection and the documentation that comes with it is a good piece of data to help prospective buyers. However, a home inspection is a home inspection. Buyers who may be wary of what that documentation states can also arrange for their own inspection. Sellers are required by law to disclose certain information regarding their property so, in a way, that should be enough for most buyers.
Need Some Assistance with The Local Real Estate Market?
Whether you are looking to buy or sell in the Niagara Region, I can help. I have the contacts you’ll need for such things as home inspections, renovations or whatever you need before you list or buy.
I’m Jen Bedard and I look forward to working with you. For more information – or if you have any questions – just give me a call anytime at 289-213-7031.