WHERE GETTING GOOD SERVICE IS THE ‘NORM‘

Norm Merz

Sales Representative

289-523-0345

CELL 905-541-4917

1-800-468-8896

NormMerz.com
What forms are needed when buying or selling a home?

What forms are needed when buying or selling a home?

When it comes to buying or selling a home, there are a few important documents that will come into play during the process. Some of these forms include pre-written clauses that your realtor will discuss and explain to you. Due to the nature of these contracts, be sure to read them thoroughly and always, always ask for clarification if needed.

Seller Representation Agreement (Listing Agreement): The listing agreement serves a number of functions. It establishes the relationship between the brokerage (and real estate representative) and the seller, it outlines specifics about the property for sale and it explains the services that will be performed and remuneration agreed upon. A Data Input Form will also be completed, describing the property in more depth i.e. legal description, age, room dimensions, zoning, etc.

Seller Property Information Statement (SPIS): Completing this form is optional for sellers. This form expands on information already provided about the property for sale, including items like restrictive covenants, known easements, details about past renovations, moisture issues, etc. If a SPIS has been provided by the seller, the salesperson should inform potential buyers of its existence. It is important to note that the SPIS is not a warranty or guarantee for buyers and should not replace a home inspection.

Buyer Representation Agreement: This agreement is an authority granted by a buyer to a real estate brokerage to act on his or her behalf during the purchase of a property. It outlines and explains the responsibilities of both parties and the commission arrangement. While a realtor in Ontario is required to complete the agreement and submit it to the buyer before any offer is made, the buyer is under no obligation to sign it.

Agreement of Purchase and Sale: An agreement of purchase and sale is like a conversation in writing that expresses the buyer’s wish to purchase a property and the proposed terms of sale. It only becomes legally binding when everything is mutually agreed upon and signed by both parties. Commonly referred to as an offer, this document summarizes the terms that the buyer is seeking. Items always covered in the agreement of purchase and sale will be deposit amount and sale price, conditions, chattels and fixtures, completion (closing) date, etc.

While the exact forms may vary from city to city across the province, the fundamental concept behind each is the same.

Sell your home with fabulous photography

Sell your home with fabulous photography

It’s a visual world we live in. With today’s technology, people love to scour the internet looking at photos of homes for sale. Listings can be viewed easily on Realtor.ca and there’s no doubt that excellent pictures will help sell your home. If you want to attract serious buyers, it’s wise to prepare your home properly and post only high quality pictures.

The exterior shot of your home is of the utmost importance as it will likely be the first photo people see. Great curb appeal is something people look for, even during the winter months. A fantastic exterior shot can make the difference whether or not your property warrants a visit. Take outside photos on an overcast day to avoid dark shadows on your home. Touch up garage doors and paint eaves troughs if necessary. Clean windows and make your front entrance welcoming. Have your driveway, porch and walkway neatly shoveled. Add some winter greens to empty window boxes and make sure recycling/garbage bins are out of sight.

For the interior, little things such as fresh flowers, citrus fruits in a bowl and a lit fireplace make for a desirable picture. Also;

• Clear rooms of clutter. Everything should be in its place.

• Open all blinds, drapes and curtains to allow for maximum natural light.

• Neatly arrange clean towels in the bathroom.

• Put away all toiletries.

• Clear all surfaces in the kitchen, including small appliances.

• Remove magnets/pictures/notes from refrigerator and keep the top clear.

• Hide unnecessary electrical wiring.

• Do not have any pets or pet related items in view.

• Remove personal photographs and family portraits.

Pictures are an important ingredient to any successful real estate marketing campaign, so ensure that your home is being viewed in its very best light.

Translate »