Need to find a realtor located in Toronto and are you looking for a specialist in Etobicoke Real Estate? Last November I worked with
Now if you’re selling Toronto, Oakville or Etobicoke real estate (or getting ready to put your property on the market); there are many things to think about, to prepare for, and to organize. To avoid the pitfalls when selling your home, Andrew Doumont of Onepercentguys.com break down the 8 most common mistakes. Below are the final two mistakes.
MISTAKE #7 – BELIEVING THAT A BANK MORTGAGE APPRAISAL IS THE MARKET VALUE OF YOUR HOUSE
An appraisal is an opinion of value for a certain purpose. If the lender wants to lend you the money, they are motivated to have the appraisal come in high. The appraiser may ignore foreclosure or distress sales in order to justify the higher value. But a real buyer in the real world will not ignore these properties. They are your competitors when you try to sell.
I can’t tell you how many ridiculous bank mortgage appraisals I’ve seen. Don’t’s make the mistake of thinking that the value you were told even 6 months ago when you refinanced is what a real buyer would pay. Ask your Realtor for ALL sold homes in the area, and then decide.
MISTAKE #8 – CHOOSING THE WRONG REALTOR, OR CHOOSING HIM/HER FOR THE WRONG REASONS
In order to find the Realtor who is right for you, you may want to interview several. The quality of your home selling experience is dependant upon your skill at selecting the person best qualified.
It’s interesting that in the Real Estate Business, someone with many successfully closed transactions usually costs the same as someone who is in-experienced. Bringing that experience to bear on your transaction would mean a higher price at the negotiating table, selling in less time, and within the minimum amount of hassle. The world is populated with Realtors who are wrong for you. For example, a part-timer who sells an occasional house because he or she needs a little pocket change, or even the insurance salesman who believes they can handle two careers, or perhaps your inexperienced cousin George, who really needs your business.
The sale of your home could well be the most important financial transaction you have ever been involved with. The person you select can make it a satisfying and profitable activity -or a terrible experience. It’s your home, and your money. The choice of your Realtor is up to you. MAKE THAT SELECTION CAREFULLY!
To help with your selection process, read our valuable checklist, “Vital Questions to Ask Your Realtor Before Putting Your House on the Market.” Armed with these questions, you can be confident that you won’t make a mistake.