Touring homes is an exciting part of the home-buying process, but it's also a time to be cautious and attentive to details that could affect your decision. Here are five critical things to check while touring homes:

1. Overall Condition of the Home

• Structural Integrity: Look for signs of foundational issues, such as cracks in the walls or uneven flooring. These can indicate potential costly repairs in the future.

• Age and Condition of the Roof: Replacing a roof can be expensive, so check its condition and ask about its age and any recent repairs. A well-maintained roof can save you from unexpected expenses.

• Windows and Doors: Ensure they open and close properly. Check for drafts or moisture between panes, which might indicate poor insulation. Well-sealed windows and doors can improve energy efficiency and comfort.

2. Electrical System and Plumbing

• Electrical Panel: Check if the electrical panel is modern and well-maintained, and whether it has any unused capacity for future needs. An outdated panel might need upgrading to handle modern electrical demands.

• Plumbing: Look for leaks, water damage, and the condition of the fixtures. Run taps to check water pressure and hot water system efficiency. Good plumbing ensures reliable water supply and avoids potential water damage.

3. Heating, Ventilation, and Air Conditioning (HVAC)

• Age and Maintenance: Inquire about the age of the HVAC system and whether it has been regularly serviced. A newer, well-maintained system can be more efficient and cost-effective.

• Performance: Check if the home heats and cools effectively by feeling for consistent temperatures across different areas. An efficient HVAC system provides comfort and saves on energy bills.

4. Odors and Signs of Mold

• Mold Spots: Look for visible signs of mold growth, which can indicate moisture problems. Mold can be a health hazard and a sign of underlying issues.

• Odors: Pay attention to any strong smells that could suggest mold or mildew hidden behind walls or under floors. Unpleasant odors can signal hidden problems that might require remediation.

5. Lot and Surroundings

• Drainage: Walk around the exterior to see if the yard slopes away from the house, which helps prevent water from entering the basement. Good drainage protects the foundation and prevents water damage.

• Noise and Activity: Consider external factors like traffic noise, proximity to schools, and other local activities that might impact your living experience. A peaceful and convenient neighborhood enhances your quality of life.

When touring homes, it's important to keep these critical areas in mind. By paying attention to these details, you can make a more informed decision and avoid potential issues down the road.

Happy house hunting!

A home inspection is a professionals evaluation of a properties overall condition. During an inspection, a licensed inspector will evaluate the properties condition, focusing on major systems and structures. They will look for defects or potential issues and provide you with a detailed report outlining their findings and recommendations. A home inspection helps buyers understand the overall condition of the home and allows them to make informed decisions. Inspections typically last around 2-4 hours depending on the size and condition of the home, and often buyers attend the last portion of the inspection to ask questions and review the inspectors findings.

Should I Make an Inspection a Condition of my Offer?

A home inspection is often inserted as a condition of an offer; once the offer is accepted, the inspection is then completed during the specified timeframe for that condition. In the current competitive market we are in, we are seeing many inspections being completed prior to making an offer on a property. The benefit of completing the inspection prior to offering is that you as a buyer know exactly what you are getting into with the property, allowing you to make an informed decision with your offer. Having a pre-inspection done also works in a buyers favour as they will not need to insert a condition of a home inspection into their offer to purchase, making their offer more competitive.

Key Elements of a Home Inspection

1. Exterior:

• Roof: The inspector will check the roof for any signs of damage, wear, or leaks.

• Foundation: The foundation will be inspected for cracks or other structural issues.

• Siding and Windows: The condition of the siding, windows, and any exterior doors will be assessed for damage or wear.

• Grading: The grading around the home will be inspected to see if it is sloped towards or away from the foundation.

2. Interior:

• Electrical Systems: The inspector will check the electrical panel, outlets, and wiring to ensure they are up to code and functioning properly.

• Plumbing Systems: This includes inspecting pipes, drains, water heaters, and other plumbing fixtures for leaks or issues.

• HVAC Systems: Heating, ventilation, and air conditioning systems will be checked for proper operation and maintenance.

3. Structural Components:

• Attic and Insulation: The inspector will examine the attic for proper insulation and ventilation, as well as any signs of water damage or pest infestations.

• Basement and Crawl Spaces: These areas will be inspected for moisture, mold, and structural integrity.

4. Safety Features:

• Smoke and Carbon Monoxide Detectors: The inspector will ensure these devices are present and functioning correctly.

• Stairways and Railings: The safety and stability of stairways and railings will be checked.

5. Appliances:

• Appliances: The inspector will typically run the appliances to ensure they are all functioning properly.

The Home Inspection Process

1. Scheduling the Inspection:

• Once the offer to purchase is accepted, the buyer schedules a home inspection with an inspector of their choosing.

2. Attending the Inspection:

• Buyers are encouraged to attend the inspection to ask questions and get a firsthand understanding of any issues. The inspection typically takes 2-4 hours, depending on the size and condition of the property and buyers usually are able to attend the second half of the inspection.

3. Receiving the Report:

• After the inspection, the inspector will provide a detailed report outlining their findings. This report will include descriptions and photos of any issues, as well as recommendations for repairs or further evaluations.

4. Reviewing the Findings:

• The buyer reviews the report with their realtor to understand the implications of the findings. Depending on what the inspection reveals, the buyer may satisfy their condition, negotiate price or repairs, or, in some cases, withdraw from the purchase agreement.

Your friend in real estate, 

Sheyla Duncan

Hello everyone!

Today, let's delve into an important topic that often causes a bit of confusion: limited joint representation in real estate transactions. What does it mean when your real estate transaction is under limited joint representation? Let’s unpack this together.

What is Limited Joint Representation?

Limited joint representation occurs when the same real estate brokerage represents more than one party in a real estate transaction. Most commonly both the seller and the buyer. It's a situation where one brokerage has the privilege and responsibility of assisting both parties. But, for this to happen, both the seller and the buyer must agree to this arrangement. They will need to sign a form acknowledging their understanding and consent to proceed under limited joint representation.

What Changes with Limited Joint Representation?

You might wonder, what exactly changes when both parties are represented by the same brokerage compared to when they have separate representation? The primary difference lies in how the realtor can communicate and advise each party.

Maintaining Fairness for All

In limited joint representation, fairness is the cornerstone. The realtors involved must ensure they are unbiased and cannot favor one party over the other. This means that realtors are restricted in how they can advise on pricing and other sensitive information.

For instance, imagine a home listed at $350,000. If the seller privately tells their realtor they are willing to accept $340,000, the realtor cannot disclose this to the buyer. Similarly, if a buyer tells the realtor they are willing to go up to $360,000 but will start with an offer of $340,000, the realtor cannot share this with the seller.

Another critical aspect is confidentiality. Realtors cannot disclose the reasons behind a sale or purchase. For example, if the seller is moving to another city and has already bought a new home, the realtor cannot share this information with the buyer. Such details remain confidential to maintain fairness and integrity in the transaction.

Understanding these nuances helps ensure that both buyers and sellers are treated equitably and that the transaction proceeds smoothly and transparently.

Note that just because you are in a limited joint representation situation does not necessarily mean the realtors involved know both parties. When two realtors work for the same brokerage and one represents the seller and the other represents the buyer this is still considered a limited joint representation situation. In this case though often times the realtor representing the buyer has never meet the seller and vice versa.

I hope this clarifies what limited joint representation means and how it impacts your real estate transactions. As always, feel free to reach out with any questions or if you need further clarification!

Your Friend in Real Estate,

Sam Scribilo

A conditional sale occurs when an offer to purchase has been accepted, but the final sale is dependent on certain conditions being met. In Winnipeg, we call this a conditional sale. Often, these conditions are used to benefit or protect the buyer in the transaction, and must be fulfilled within a specified timeframe for the sale to proceed. If these conditions, also known as contingencies, are not met, the buyer can withdraw from the agreement without penalty, and their deposit will be refunded.

Common Conditions in a Real Estate Sale

1. Financing Condition

This condition is used to protect the buyer during the process of securing mortgage approval. If the buyer cannot obtain financing approval from their lender, they can cancel the purchase agreement without penalty.

2. Home Inspection

This condition allows the buyer to have the property inspected by a professional to check for any issues or defects with the property. It ensures the buyer is aware of any potential problems and if the inspection was to reveal significant issues, the buyer can negotiate or choose to back out of the sale.

3. Sale of the Buyers Property

This condition is based on the buyer successfully selling their current home. It allows the buyer to avoid the financial burden of owning two homes simultaneously. If the buyer is unable to sell their existing home by the date the condition specifies, they can withdraw from the purchase.

The Process of a Conditional Sale

1. Offer and Acceptance

The buyer makes an offer that includes certain conditions, the seller can accept as is, reject, or counter it with modifications.

2. Meeting the Conditions

Once accepted, the buyer now works to fulfill the conditions within the agreed timeframe (for financing & home inspection conditions this time frame is typically a week or less). Depending on what conditions the buyer has inserted this may mean securing financing, conducting an inspection, or selling their current property.

3. Waiving the Conditions

Once the conditions are met, the buyer signs a form declaring the satisfaction of these conditions. If the conditions cannot be met, the buyer can declare this and withdraw from the transaction, having their deposit returned.

Your friend in real estate,

Sheyla Duncan

Winnipeg Realtor

1. Prepare and Stage the Home

Set the stage! Imagine walking into a home that feels warm, inviting, and move-in ready. This is the experience potential buyers should have. Start with deep cleaning, decluttering, and making minor repairs. Next, stage the home to highlight its best features. Use neutral colors and tasteful decor to create a welcoming environment that allows buyers to visualize themselves living there. A well-staged home can significantly increase its appeal and value. 

Actionable Tips:

• Clean every nook and cranny, including windows, carpets, and walls.

• Remove personal items and excess furniture to make spaces appear larger.

• Use professional stagers.  We can help with this!

2. Price It Right

Think of pricing your home like casting a wide net to catch the biggest fish. Price it too high, and you may scare off potential buyers; price it too low, and you leave money on the table. Realtors conduct thorough market analysis to ensure you are positioned properly on the market. Setting a competitive price from the start can attract more interest and lead to quicker offers.

Actionable Tips:

• Review recent sales of comparable homes (comps) in your neighborhood.

• Consider the current market trends and local real estate conditions.

• Listen to your Realtor’s recommendations on pricing.

3. Maximize Online Presence

In today's digital age, your home's online listing is like its first open house. The majority of buyers start their search online, so it's crucial to make a great first impression. Professional photography, videography plus a compelling property description are paramount.  Be sure you highlight the home's unique features and the benefits of the neighborhood.

Actionable Tips:

• Ensure your Realtor uses professional photographers and videographers

• Proofread the property description and confirm it highlights details for your ideal buyer.

• Ensure the listing is on all major real estate platforms and social media.

4. Market Aggressively

Think of your home's sale as launching a product. To reach the right audience, you need a comprehensive marketing plan. This includes traditional methods like open houses and flyers, as well as digital marketing strategies like social media ads and email campaigns. The goal is to generate as much interest as possible.

Actionable Tips:

• Hire a Realtor that hosts open houses and private showings to attract different types of buyers.

• Study their social media platforms to see how they generate a buzz for their own listings.

• Ask questions! Ask to see sample marketing materials, or to speak to references.

5. Be Flexible and Responsive

Picture a buyer who falls in love with your home but has questions or wants to see it at a specific time. Being responsive and accommodating can make all the difference. Flexibility with showing times and quick responses to inquiries can keep potential buyers interested and engaged.

Actionable Tips:

• Keep your schedule open for showings, even on short notice.

• Respond promptly to questions and requests from your Realtor.

• Be open to negotiating terms to close the deal efficiently.

Now there are many moving pieces when it comes to selling a home.  However, focusing on these pieces in particular will have a substantial impact on your success.

Your friend in real estate,

Jen Queen

Hello, homebuyers!

A question I often hear is, "Can I move in early if the home is not occupied?" The short answer is: potentially, yes. But let's dive into the details to understand how it works.

When you signed the offer to purchase contract, you agreed on a specific possession date and time. This date is crucial because it marks the moment the home legally becomes yours. Moving in before this date can lead to complications, as the property isn't officially yours until then.

However, I understand the excitement, and sometimes you may want to move in earlier than planned. In this case, there's a solution: amending the original offer to purchase. This process involves both the buyer and seller agreeing to a new possession date. If both parties are on board, you'll need to sign an amendment agreement to make it official.

It's important to communicate openly with your real estate agent if you find yourself in a situation where an early move-in is necessary. They can guide you through the process and help ensure everything is handled smoothly. By following the proper steps, you can potentially adjust your move-in date without any legal hiccups.

Before requesting an amendment to change the possession date, there are a few things to consider. Be sure to check in with your mortgage broker or bank, as sometimes an amendment to the offer to purchase might require your bank to "re-do" the mortgage approval. Also, ensure that everyone involved is up to speed once the possession date amendment has been signed. Make sure your lawyer is aware of the change, and consider reaching out to your insurance company if you had already set up insurance.

As always, talk to your realtor. They can advise if amending the offer to purchase to change the possession date makes sense in your unique situation!

Your friend in real estate,

Sam Scribilo