dpylyp : Weblog

Will you sell it alone? FSBO Toronto

Mon, 12 Jul 2010 00:19:00 GMT

If you could have sold it alone....

You would have sold it already

If you haven't been able to attract buyers to see your home and are finding that you are dealing with unqualified people, looky lous that want decorating ideas, couples who are out for a Saturday or Sunday drive just looking at homes incase they decide to buy...

Yes, you know your home the best...

But the buyers interests and focus are not necessarily the same as yours. You are holding your own open houses but, people are reluctant to give you their name and phone number. They don't know who will be calling them back!

You want to save the commissions and expenses...

But you are realizing the weekend print ads are easily $500 - $600; There is no guarantee that the phone will ring and may not really drive any traffic. Gambling on weekend open house traffic is fickle and the market has softened.

The contract bundle at Chapters doesn't contain the clauses you need. It is just blank forms. The package of forms clearly states on the cover VOID if used improperly. The forms online from OREA and TREB are to educate you, permit you to read the content in the comfort and privacy of your own home, they have plain english explanations to interpret and explain, not to copy and use as a template.

The Lawyer charges $450 per hour to prepare contracts based on what has already been agreed upon. A lawyer will not enter into a negotiation unless he is being paid.

The Buyer wants to save the same money you do and is asking a lot of questions that make you a bit uncomfortable answering. How motivated are you? Whats your BEST price? Have you bought already? Have you been transferred? OR the big D questions; Death, Divorce, Disaster and Debt. A skilled Buyer has asked all the questions necessary to find your lowest bargaining position without putting up any money to negotiate an offer.

Has the buyer, who is in your house, been qualified or pre approved for a mortgage. Are they capable and interested in concluding a transaction or just testing the waters for a deal?

Have you confirmed the Buyers details with the mortgage broker?

You don't pay anyone until you have commited to a sale that has terms and conditions acceptable to you. At this point you know exactly how much you have sold your home for and what portion will be in your pocket. We have dealt with home inspections and what you will need to give up or gained to walk away, We will have inquired with your mortgage lender about their prepayment penalties or will you port and increase to blend the new mortgage. Land Transfer Taxes apply to your purchase, not your sale.

When you are buying .... will you be using an agent? Why is that?

Because the agents help you sift through all the extraneous details to finds the salient points that concern you as a buyer... Helping you to make a sound financial decision.

If this is not the type of real estate advice you are receiving; you need to ask why not.

Being a Landlord and the Tenant grows Marijuana

Mon, 12 Jul 2010 00:16:37 GMT

Larry the Landlord and his Illegal Marijuana House

Larry the Landlord has a number of misadventures that are sometimes his own doing and sometimes absolutely at the invitation of others.

Larry [A Fictitious Person] has a rental property available for a reasonable amount of money and finds himself a suitable tenant. The Tenant pays cash for a few months ahead of time and everything seems fine.

The Neighbourhood Watch committee decides that there might be too many cars frequenting the house for short duration visits; so the property must be a) operating as a take out restaurant b) involved in the sale and distribution growth of illegal substances.

The Police take note of the lead from the neighbourhood vigils and start surveillance, obtain a search warrant, serve the warrant, discover the illegal growth of marijuana in the property and promptly arrest all those seemingly [allegedly] involved. The Landlord now has a property with a grow op in his basement and is looking for a solution.

WELL….. The hydro has been disconnected by the local utility as the grow operation may or may not have tampered with the wiring and service panel, Theft of Hydro services may have occurred, inspections need to be made but not before an Environmental Assessment has been made. Removal of the Hydro meter effectively terminates your ability to occupy the property or live in. The Hydro will not be reinstated till the Air Quality Testing has been completed. (Your power tools and lights do not work in an un-powered house; there is no heat.

Mold, Mold may be in the basement caused by the high humidity or the mold could have contaminated the entire property. Inspectors need to be called. Inquiries made. Air Mass sensor are used to measure the PPM parts per million of mold in the air and if the staff can be permitted into a hazardous (toxic) work environment with or without protective suits and masks. A normal home inspection will not suffice. A base line of air quality (outside) is taken to compare with interiors. There will be mold. Mold is in bread, Mold spores are everywhere, not all mold is harmful. Some mold is deadly.

How to identify a Grow House Remedial action must be performed that may include chemical washing agents, removal of drywall to the joists, removal of all ductwork and wiring, (so that the nooks and crevices can be accessed) possibly sand blasted to clean off the mold. There may be required filtration with HEPPA filtering.

I neglected to mention that the Bank has issued a Power of Sale demand letter on your residential mortgage; You have changed the quality and value of their security, they have added additional insurance premiums for their risk during this period. If you have the financial wherewithal you need to refinance (lenders are available to a max of 50% advance to value, rate is not cheap).The lawyer’s fees for “Correspondence” are added to the Claim amount. You will need a different lawyer to discharge the mortgage. If you owe more the property would actually become a power of sale and revert to the Bank. They may at this point in time become responsible for the remediation.

So lets recap. You have cleaned, remediated, inspected every electrical outlet junction box, light switch and socket; have run new wiring in the basement to all the circuits and upstairs where possible and are awaiting the re inspection and re-certification of your property. You are waiting to remedy any deficiencies found on your ESA Statements. You still have the stigma of being an illegal grow house.

This must be disclosed to the Prospective Purchaser prior to an offer;

The Buyer acknowledges that the property and buildings and structures thereon have been used for a criminal use or activity and acknowledges that the Seller makes no representations and/or warranties with respect to the state of repair of the premises and the Buyer accepts the property and the buildings and structures thereon in their present state and in an "as is" condition.
This offer is conditional upon the Seller providing to the Purchaser's Lawyer to review and find satisfactory in the Buyer's Lawyer's sole and absolute discretion. This documentation shall show evidence that the Seller has had the proper government required inspections of the home completed, and that the home has passed such inspections. These inspections are specific to homes that have been found to contain or used for the growth of illegal substances, regular home inspection reports will not be accepted. The Seller shall also provide receipts and records that all fines have been paid in full and that any other fines that arise due to the manufacture and growth of illegal substances in the house before buyer's completion date shall be paid in full by the Seller. Unless the Buyer gives notice in writing to the Seller personally or in accordance with any other provisions with 10 (ten) business days of acceptance that this condition is fulfilled, this offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Buyer and may be waived at the Buyer's sole option by notice in writing to the Seller as aforesaid within the time period stated herein.

This creates the STIGMA of Grow House, and this will need to be disclosed when you are selling again in 8 or 18 years.

But in reality, this house is cleaner, wired up to the standards that are applicable to today’s wiring, inspected for air quality, thermal efficiency (HVAC was all reinstalled remember) City Permits to start and complete the work; Various fines and penalties all paid. In theory Buyers should be lining up to make this purchase.

The Purchaser will find a challenge in obtaining new financing on this property as a high ratio mortgage. Mona Rafiq Mortgage Specialist with CIBC Mortgages was successful in funding a recent purchase with 15% down, a paid CMHC fee, and a slightly elevated interest rate. CMHC will insure previous grow op properties as they understand the remediation and re inspection process.

Do you have a landlord story to share?

If this is not the type of information you are getting from your agent... What are you paying for?

Toronto Grows into Condo Capital of Canada

Mon, 12 Jul 2010 00:03:36 GMT

2010 116% ahead of 2009 in monthly new home sales

Toronto GTA is the largest highrise market in North America

High Rise pricing has remained strong through economic downturn

Canada has Top 7/25 Markets in North America

So where would you like to live?

The Toronto Waterfront? Humber Bay Shore; maybe something along the Bloor Danforth Subway line possible overlooking the Old Mill?

I attended this new conference in Toronto; Informed and confidant business people are making their moves in Toronto. The real estate market has outperformed the TSX.

Comparing Toronto condo prices to other world markets like Hong Kong, New York City, London England, make Toronto seem very affordable. So... Give me a call at 905 361 3387 or email me at david@davidpylyp.com to get started.

There is no HST payable on a resale purchase. The summer time is a sleepier time to save a few thousand dollars? Interest rates have dipped slightly; Are you ready?

Opinion of Value- Market Analysis - MIssissauga (Toronto) GTA

Sat, 10 Apr 2010 04:12:58 GMT

Opinion of Value - Drive By Appraisals Toronto west Mississauga

Online Evaluations - Market Analysis is available

But If you need a Drive by; Opinion of Value, Teranet Property History and Legal Confirmation, a last

sold on the street and available for sale summary, with an OPINION OF VALUE sent by pdf to your office, This will include digital pictures from the exterior of the property.

This is possible within 24 hours.

If you would like a Market Evaluation and Marketing Analysis for your home and are considering selling,
I would like to hear from you.

http://www.eleganthomesinwesttoronto.com/agentprofile/homeevaluation.cfm

There is a difference in who you call. Try someone with 22 years of experience.

David Pylyp
RE/MAX Realty Specialists Inc., Brokerage
905 361 3387 direct 647 218 2414

Credit Toads can actually apply here UMM for Credit Repair

Sat, 10 Apr 2010 04:08:26 GMT

Did you Hit a credit bump in the Road?

Troubled Getting a Mortgage Toronto Real Estate

Has the Bank turned you down but your wife wants that pretty house?

Are there a few things on your credit report that you do not understand or need to have FIXED. These things can be taken care of for you in a personal one on one consultation.

Veronica is a Mortgage Broker with the http://DavidPylyp.com Home Selling Team and can help you with obtaining the best possible mortgage for you.

Veronica offers one on one personal consultation at your residence or office to examine your credit bureau report, see and explain why you have been declined for financing, and start you on the repair process.

http://www.eleganthomesinwesttoronto.com/ShowResources.cfm?TypeOfPage=1&Page=&Pageid=50458

WITH the services of a credit repair consultant that is also a mortgage broker, it may just be the "HOW TO PRESENT" your mortgage application or going further to restructure high interest rate credit card debt, maybe you Co-signed for someone, Maybe there is an old collection on file that has been retired, let her have a look and work it out for you. You could be working two jobs for someone's college or university education and there is friction about everyone's participation.

Lets have a look.

http://www.youtube.com/watch?v=sECzMH6fPAk

Call our offices today or email David Pylyp with your request by completing the form

http://www.eleganthomesinwesttoronto.com/ShowResources.cfm?TypeOfPage=1&Page=&Pageid=50458

Marketing into the Nine Oh Five Oakville

Sun, 28 Feb 2010 00:23:20 GMT

Are you trying new technologies?
Are you willing to risk humility and laugh at yourself?
I am.

I will do everthing in my power to promote your home for sale. Video and humor together are powerful allies.

Call me David Pylyp 647 218 2414

Intended to solicit those Sellers and Buyers that are tired of the Average.

Lack of Inventory Continues to puch Toronto Markets

Thu, 25 Feb 2010 11:38:23 GMT

The Lack of inventory will be the greatest challenge facing housing markets across the country this Spring, according to a report released today by RE/MAX.

The RE/MAX Market Trends Report 2010, which examined real estate trends and developments in 16 markets across the country, found that unusually strong activity during one of the traditionally quietest months of the year has led to a sharp decline in active listings in 81 per cent of markets surveyed.

“There have never been so many motivating factors in play at once,” says Michael Polzler, Executive Vice President, RE/MAX Ontario-Atlantic Canada. “We’re in for a heated Spring market that will, in all probability, spill over into the summer months, as the window of opportunity draws to a close. The supply of homes listed for sale has been drastically reduced, housing values are once again on the upswing, and banks and governments are moving in unison toward stricter lending policies.”

Read the entire press release here. REMAX Market Trends 2010 REL

What is motivating you to hold on to your property? Will the new HST expenses cause you to rethink the benefits of condo ownership? Add your comments and observations.

If you are considering selling, and possibly downsizing this is a market where you will be buying first and then placing your home on the market. Let's get together and discuss your choices.

Need references? Google me David Pylyp Homes in Toronto

Toronto Is Poor

Wed, 24 Feb 2010 15:09:19 GMT

Yes the MEGA city, Toronto the good! We voted them in; we are responsible. Proposed Tax increases absolutely! David Miller is proposing a modest tax increase of 4% PLUS new user fees and services cut backs.

Toronto’s proposed 2010 budget includes a property tax hike of four per cent as well as new user fees meant to narrow its $382-million shortfall.

So what will they cut back? Yup! essential services Library Hours; Court offices will close a half hour earlier, More user fees at $50 per family at Parks and Recreation. Lets look at a few of these issues a little closer.

Call in a False Alarm? It could cost you $350. Dad! Dad! Are those really severe chest pains?

Libraries will be closed on weekends, Kids are not in school on weekends. Need that homework finished for Monday? Sorry, We are Closed Sundays. Court Services? Had your licence suspended recently? I know someone who forget to pay a ticket and had her licence suspended by the MOT. The waiting times in many of the overcrowded court systems are 2 - 3 hours to deal with setting a trial date or a walk in guilty. Maybe a re-instatement? The solution from the City of Toronto is to close earlier. Waiting times and Tickets issued have no relationship with the hours of service for the court houses. Parking on the street permit still doesn't guarantee you a space. OK. Get your parking pad! OOPS! Application fees for those are going up too! Don't forget that home heating and fuel prices will go up 8% also July 1st. That's HST.

These solutions do not reduce salaries or employees. This does not save on building management or premises operational costs. These are public relations strategy or activity to show that someone is doing something. Increased waiting times for the general public to line up for any City provided service at a kiosk or 311 is not increasing CUSTOMER service.

Remember they can just as easily slip over to the 905. John Tory very eloquently pointed out that the east end of the city is rather undervalued compared to the west and equally close to the downtown core.

The Honourable Mr. Doug Holyday patiently explained the process to me in an interview a few weeks ago. No one has been able to gain benefits from the consolidation of services. Amalgamation was intended to save people money. Whats happening with Transit City? Listen for yourself.

Yes I have an opinion. You cannot buy or rent a house when your credit stinks. You cannot keep spending when your wallet is empty and your credit cards are maxxed out. We need strong City Management with a vision to future planning. Please participate and vote.

The alternative is unimaginable for me. The downtown core turned into a ghost town after 6 PM in the evening. No Business, no cafe, no restaurants, no nightlife; just empty. Will the last person leaving please turn off the lights?

How would you handle these issues?

Wills Probate and Power of Attorney a chat with Stan Gelman

Tue, 23 Feb 2010 20:29:02 GMT

One of my favorite people and I shared lunch today and the topic came around to procrastination. Stan told me about a presentation that he had done recently in the condo building where he resides. A few of the local residents had asked him to prepare a few words about wills, estates, probate and Power of Attorney.

Our conversation focused on the fact that so many people put these issues off until it is left in someone else's bailiwick to deal with.

One should have Powers of Attorney and a Will so that you can have your assets and health care looked after as you wish while you are alive and furthermore how your assets will be distributed after you pass away.

Wills, Power of Attorney, Estate PlanningIt may not be the greatest dinner table topic; but so many people I meet are dealing with the unexpected loss due to accident or illness. Please prepare. Stan Gelman is available at 905 270 5110 for consultations.

What are you doing in teh yellow pages?

Sun, 07 Feb 2010 01:25:00 GMT

So many of the houses I visit have the new Yellow Pages wrapped in plastic, sitting on the front porch. What will you do? Will you bring them inside?

Advertising rates and new media for distribution ie Google has everyone quaking in their boots. Should you spend thousand's of dollars per month to advertise, but, It was SO effective before; Yes, 20 or 30 years ago.

YellowPages was the Big Dog.

Now, when I am in a condominium lobby, I see two skids of yellow pages waiting patiently by the mail room. In one corner the shrink wrap has been peeled away and someone has taken two or three books. The other skid stands untouched. At another front porch, four copies are stacked atop of each other in their plastic wrapper. No One uses the front door since they enter and exit via the garage.

What should one do?

Can we OPT out? Emilee from Dire Mirth would like to create an OPT out Page for the Green Pages. Comanche Marketing would have you negotiate a tougher position with the yellow pages since there are more players in the market place, competition for your attention. Let's tell those Yellow Page people that you want to Make a Deal! Make a Deal?

No matter your inclination, I have always found the yellow pages a thought provoking, cutting edge, marketing, advertising, idea seeking, source of information, But like the best buggy whip made by the last buggy whip company, It may indeed be on its final run. Huge profits have spawned competition. Technology has heralded change.

Even the Yellow Pages has their own website to advertise their print content.

Has the choice to OPT OUT become the ECO friendly final straw for these publications? Why do we keep advertising in magazines and newspapers when half the advertising promotes the "why you should advertise with us?" Maybe its time to rethink the whole model.

Internet advertising has presented some interesting observations on my part. The audience for my video's on youtube [I expected to be the 30 somethings] is surprisingly the 45 to 64 year old age group garnering in excess fo 50% of the viewership.

What are your thoughts? Your comments are always appreciated.