Over the past few years I have experienced quite a few scenarios while buying and selling homes for my clients. There are quite often massive components to any transaction that could be worth up to $10,000. At the same time, its still all the little things that matter and can have a huge impact on either a buyer or seller as well.
If you are the seller and will be removing a chandelier, make sure that you are required or NOT required to replace it with a standard light fixture so the buyer is not walking into a dark home on closing. Make Sure as a buyer your contract is very clear on items such as the seller removing a TV bracket from the wall, make sure that they are required to fill in any holes that are created. This is a very common issue we deal with today that did not exist even 10 years ago. Buyers must also make sure that you are to receive 2 full sets of keys. If its a condominium ensure all Garage and Exterior Door FOBS are included along with the location of the Postal Box (along with a complete set of Keys). If your agreement is silent (makes no mention of this issue), the seller may only get you one set of each and it can be very costly to obtain a duplicate set, in most cases.
At first glance some things can appear to be small, minor or somewhat insignificant issues but they can add up quickly, that makes the language used in any contract a very important component. Words such as Standard, Equivalent, Normal and numbers such as “1 set”, “2 sets” or “3 days” can make the difference in hundreds and sometimes thousands of dollars.
You spend a great deal of time understanding the real estate market and property values in a neighbourhood so that you are well informed and don’t over pay or elevate the value of your home unnecessarily. Make sure the small details are attended to as well so there no surprises at the end of the day.
If you have any other real estate related questions or concerns please feel free to contact me directly:
RE/MAX JAZZ Inc. Brokerage
21 Drew Street, Oshawa ONT.
(905) 728-1600 office or (905) 435-7355 direct