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Legal Warranty when selling a property

11-12-09
John B. Joseph
John B. Joseph: Real Estate Agent in Westmount, QC
  • view my blog
  • Office: (877) 315-1920
  • Secondary: (514) 315-1920

Homes in Quebec are sold with a warranty of ownership and quality. The Quebec Civil Code addresses home owners who sell their property that they must warrant a property is free from any defect in title (ownership) and any latent defect (quality), except those declared before the sale.

I ask my clients to consider this before lifting the warranty of quality when selling. It is a condition I have found adds a level of difficulty to the sale of the property. Especially in residential housing, first-time buyers get queasy adn wonder what is not being said and what elevated level of risk they might expose themselves to by buying such a property.

It is more common to see this done when the seller has not lived in the home and presumed unaware of any potential latent defects or, becoming common in this uneasy climate, when a bank is selling a repossession. Should the seller consider this clause, then performing a pre-inspection before going to market is something I have learned can uncover issues that may negatively affect the sellers ability to sell or the value a buyer may place on the property. I recommend my clients consult with a qualified and experienced inspector regarding the risks and benefits before deciding whether to do a pre-inspection before selling.

I encourage my client sellers to speak openly with me regarding the true condition of their home before going to market. Discovering and evaluating repairs and renovations, assembling proper documentation, understanding a client's family status with regards to ownership of the property and listening to the agent's advice when I recommend they seek expert or legal advice can all help reduce potential problems once that great offer shows up. A conscientious agent will help clients investigate these important areas and advise on how to appropriately protect their clients sale.

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Say it is SOLD ...

11-09-09
Liz Gallagher, RESA member.
Liz Gallagher, RESA member. : Home Stager in Montreal, QC
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  • Office: (450) 451-4383
  • Mobile: (514) 927-0700

Well, Home Harmony has been at it again this time faced with one of the most colorful homes we have ever come across. Red seemed to be the predominate colour so instead of fighting it we went to worked to try and tie it into some other rooms that seemed not to fit with the bolder side of this home.

Out of desperation and pure frustration the Agent summoned us to try and rectify some of the problem areas within this home. The owner, an art student, has definitely put her style and artistic flare into the decor of this home, unfortunately it is a little over the top for most. With only the hall painted we went to work to do what we could to tone down the rest using simple solids.

With lots (too many in fact) of interesting pieces to choose from we got to work and transformed the entire home in 1/2 a day.

Divide and concur was our approach and it seem to go incredibly well ...

UNIQUE ... is an under statement with this bathroom artwork

Using a denim curtain we covered the headboard to make it less distracting ... hard to see but it actually matched the bedspread very well.

By removing the large hutch and replacing it with the glass cabinet (left) we were able to expose the white brick wall that added to our red/white theme in the kitchen

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Pink and green became grey and red ( curtains taken from the master room) wrapping the window seat and tacked up to cover the pink window shades ... which worked well to continue the flow into the adjoining room pictured below.

Converted from a bedroom to a family room this couch fit nicely into the scheme of things ... transferred from the over crowed fireplace room. The door was later covered with a white sheer to cover the pastel shades of the adjoining room.

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Has my house been on market too long? Will it sell? When?

10-28-09
John B. Joseph
John B. Joseph: Real Estate Agent in Westmount, QC
  • view my blog
  • Office: (877) 315-1920
  • Secondary: (514) 315-1920

Your first barometer on market is buyer interest or number of visits, second, buyer offers and last an accepted offer.

As the market is always changing, and given the factors at play, the best agents will provide you a likely selling range and timeframe given conditions when you go to market. While some properties just need that one buyer to find them, an overpriced listing sits and grows stale. This seller must wait for the market to elevate itself, to reach their price. If a property is priced too low, some buyers will wonder what is wrong with the property, speculators and renovators will jump at the opportunity.

Make sure you are not seduced by the agent offering the highest price for your property and rather choose an attentive agent who backs up their case with facts and who you trust will be there to support and communicate well with you from start to finish as you move through the sales process. A good agent protects you, removes barriers and keeps transactions safe.

8 Comments
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Home Harmony is a hit at the local Trade show.

10-18-09
Liz Gallagher, RESA member.
Liz Gallagher, RESA member. : Home Stager in Montreal, QC
  • view my blog
  • Office: (450) 451-4383
  • Mobile: (514) 927-0700

This past weekend marks a first for Home Harmony in the area of trade shows. In a past blog I requested help from all you wonderful stagers that had experience in working the trade show scene. We took all your ideas and advice and made it work. Although we didn't have a little doll house we were able to set up little scenario rooms with cut out furniture and accessories.

Unfortunately there wasn't a great turnout but the people(men and women) we had an opportunity to talk to were totally sold on what we had to offer ... even the NON BELIEVERS the ones that stood back from the booth were roped in with our pictures and staging stories.

All in all it was good experience and it has helped us to prepare for what should be the bigger event this November at themakeovershow.com . It was great to get face to face with the people and discuss how our services can help just about anyone. Although no one that day was in the process of selling their home the group was genuinely impressed and excited about the possibilities of Staging their homes to live. It didn't hurt to mention either that we offer Gift Certificates.

Oh yeah ... guess what? Home Harmony won the "Best Booth Display" ... thank goodness ... It would have been embarrassing as "Stagers" if we didn't. ;o)

Thanks Again to all that replied to the first post. Your advice was greatly appreciated.

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Blog_tag

Intergenerational properties

10-13-09
John B. Joseph
John B. Joseph: Real Estate Agent in Westmount, QC
  • view my blog
  • Office: (877) 315-1920
  • Secondary: (514) 315-1920

Becoming more common are children inviting their parents to move into their home providing as much independence as possible. These properties have of recent been identified within the real estate community as Intergenerational Properties.

An Intergenerational Property includes an additional dwelling that allows for home-sharing between parents and children and does not usually generate revenue. A revenue property is a single-family residence that has a rental unit that brings in additional revenue for the owner.

On the Montreal Island, I have seen converted basements added kitchens, patio doors and elaborate bathrooms mostly. Off island or on occasion in town the garage is converted or another dwelling on the property is used.

If you seek to create or purchase an intergenerational space or property, remember that this status must be recognized by your municipality.

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