The Brantford Home Info Blog!: Brantford Real Estate Tips

Thursday, November 15, 2012

Your Brantford/Brant County Home’s Pre-Inspection Checklist!

The home inspection is one of the most anxiety-provoking aspects of a real estate transaction, particularly from the seller’s perspective. As a Brantford/Brant County Real Estate Agent, I do everything that I can to ease my clients’ worries about this particular step in the process by preparing them for the inspection itself.

There are a number of things that you need to remember to do in order to prepare your home for inspection. None of these items are steps to be taken lightly. A poor home inspection can result in a decrease in the amount buyers are willing to offer. You could also run into issues during negotiations if certain things aren’t taken care of prior to inspection, as buyers will have more leeway and cause for concern. That’s why I’ve come up with this quick pre-inspection checklist. If you take care of these important steps before the inspector arrives, then there will be less of a chance for problems after they leave.

•    Make sure all utilities are turned on and functional. If you’re already living in the Brantford/Brant County property you’re trying to sell, then this shouldn’t be a problem, but if you’re selling it after you’ve moved out, then make sure you take care of this early-on.
•    If there is natural gas or propane service, then all pilot lights should be lit.
•    All wood-burning stoves and fireplaces should be cleaned. Please don’t use any of these appliances 24 hours before inspection. Appliance manuals and WETT Certificates should be handy, if they are available to you.
•    Make sure your attic is readily accessible. All stored items should be removed so the inspector can move about the space.
•    All crawl entrance spaces should be readily accessible.
•    Furnace and water heaters should be accessible and operational.
•    Sinks should be clear of all dishes.
•    Showers and bathrooms should be clear of all personal items.
•    Built-in appliances are operational and user manuals are readily available.
•    Do not lock or block electrical panels. The inspector will remove the cover and examine the system, so the more clearly accessible those are, the better.
•    Have a site plan identifying where your well and septic field are located, if you have a well or septic tank. Find out when the tank was last pumped and how old the various components are, too.
•    All areas of the home should be accessible and vacant. Don’t have any locked doors or closed off areas throughout the property. The inspector needs to be able to access every square inch of your home.
•    If you have pets, make sure they are either secured in cages or removed from the property.
•    Building permits and receipts for repairs and improvements on the home should be readily available.
•    Schedule at least three hours for your home inspection.

If you take the steps listed above to prepare your home for inspection, then there’s a much better likelihood that you’ll pass. A smooth inspection can make your Brantford/Brant County Real Estate transaction proceed in a timely fashion. As your local real estate professional, my main concern is guiding you through a stress-free transaction. The best defense is a good offense, so before you face that dreaded home inspection, take the steps to make your home as perfect as possible.

If you have any questions about what you need to do to prepare your home for sale in the Brantford/Brant County real estate market, don’t hesitate to contact me. I’m happy to help!

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Thursday, November 1, 2012

Never Neglect Your Brantford/Brant County Home’s Curb Appeal!

Whether you’re an investor who is planning on flipping a Brantford/Brant County property or a homeowner preparing to list their home on the local real estate market, there is one thing that you should never forget, and that’s curb appeal. First impressions are everything, and the immediate vibe that someone gets when they lay eyes on your Brantford/Brant County home or investment will determine whether or not they’re interested in considering it or not. That’s why, no matter how low your property value is, you have to dedicate time and care to curb appeal. It could prove to be a major return on your investment.

As a Brantford/Brant County Real Estate agent, I think that it’s important to remind my clients about the importance of curb appeal. The better maintained your property appears to be, the more a buyer will be willing to offer for it. Here are a few quick curb appeal tips to make your Brantford/Brant County home or investment property look its best:

Clean up your yard. Do you have fall leaves all over your front lawn? Is the grass overgrown? Are there toys and bicycles along your front walkway? Make sure you rake, mow and clean up your yard before you start showing your property. The entryway to your Brantford/Brant County home should be clear and easily accessible.

Repaint. Nothing makes a house look more neglected than peeling paint. It’s imperative to give a little extra TLC to the places on your home’s exterior where the paint is unsightly or lacking. Go above and beyond to give those spots a fresh coat of paint. The front door is another great place to present a freshly painted surface. The newer it looks, the more valuable your home will be to a buyer.

Put out a fresh Welcome mat. It sounds silly, but it does add a nice touch to your entryway. Remember: the more inviting your home looks, the more enticing it will be to potential buyers.

Clean out your gutters. Now that it’s fall, you will likely have a buildup of fallen leaves, twigs and other debris in your gutters. It’s important to do your best to clean these out BEFORE showing time. This might not seem like something that would be incredibly noticeable, but you’d be surprised how many buyers pick up on it. Remember: buyers are visiting your home with an incredibly critical eye. They’ll notice EVERY detail, so make those little finishing touches count.

If you have any questions about what you need to do to sell your home in the Brantford/Brant County Real Estate market, don’t hesitate to contact me! I’d be happy to guide you throughout the entire selling process, from contract to close. I hope to hear from you soon!

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Thursday, August 2, 2012

Improve Your Brantford/Brant County Home This Month!

If there’s one piece of advice that I would give to those who are looking to sell their home in the Brantford/Brant County real estate market, it’s this: improve your home BEFORE listing it. The last thing that you want is for a buyer to give you a list of demands during the negotiation process. There are certain things that you can do throughout the year to keep your Brantford/Brant County home in tip-top shape. If you make an effort to do a few minor home improvement projects each month, then when it comes time to sell, you will see higher offers and a lower amount of contingencies.

Since August has just begun, I thought that I’d outline a few simple tasks that are ideal for this time of year:

Remove any and all pest magnets. There’s nothing like a pest problem to turn a buyer off from making an offer on your home. Summer means heat, and heat means that our favorite unwanted visitors are out to play. Keep the outside entryway clear of debris. Stacks of tools, lawn toys, lumber and yard waste are prime attractions for summertime pests. You can also avoid pests by storing firewood in a dry place that’s at least two feet from the house and 18 inches off the ground. This will eliminate a known hiding place for spiders and other insects. Other solutions include sealing garbage cans tightly, washing and rinsing items you intend to recycle thoroughly and keeping your gutters clear.

Give your lawn a little TLC. Very few people have the money or maintenance tools to achieve a pristine, golf course-style lawn, but you can still keep yours pretty and polished by mowing frequently. If you mow your lawn on the highest frequency that your machine can go, then you will discourage weeds and stimulate a thicker growth, which is appealing to passerby on the street. Using this tactic during lawn maintenance will also cause the roots to retain more water, meaning less watering work for you. If you’re going to fertilize, I’d wait until the end of the month. Doing so during hot weather can actually stimulate weed growth.

Give your water heater a little inspection. Once a year, you should pay attention to your water heater and ensure that everything is running smoothly. Neglecting to care for this particular appliance could cause your flooring to rot and will most likely hike up your energy bills. In order to get the most out of your water heating expenses, insulate yours with a thick blanket. This will keep all the heat in and will stop it from leaking in to the surrounding atmosphere. Next, check all lines and connections to the heat to make sure that they’re running smoothly. You should also keep an eye out for any leaks, as even the smallest amount of moisture can rot your flooring. Make sure to check the valve as well. Any time it gets stuck in an on or off position, it can result in an explosion.

These are just a few of the many things that you can do to keep your Brantford/Brant County home in peak condition. If you have any questions about how to prep your home for sale in the Brantford/Brant County real estate market, don’t hesitate to contact me and ask. I’d love to help. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Website at:
www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, July 26, 2012

The “Do’s” and “Don’ts” of Selling Your Brantford Home!

In my opinion, it doesn’t matter if it’s your first time selling your home in the Brantford/Brant County Real Estate market or you’ve done it a few times. The transaction is never as easy as you think it will be. There are a number of reasons people run in to obstacles while putting their property in the market. A lot of it has to do with the housing cycle. The real estate industry goes through booms and busts, and while in Canada we’ve been faring better than most other countries we have still had our own struggles. Many sellers in the Brantford/Brant County Real Estate market have been reluctant to proceed with listing their home for fear of taking a financial hit.

While we can’t control the real estate market, what I can do, as a Brantford/Brant County Real Estate Agent, is tell you what you can do to get more buyers interested in your home. If you follow these common do’s and don’ts of selling a home, then you can have a speedier and less stressful transaction:

•    Don’t do any major renovations just before selling. There are, of course, exceptions to this rule, but most of the time you won’t see the return on investment during the home sale. You could end up taking a big hit financially.
•    Do make sure that your house is accessible during showings. If your home looks uninviting, buyers won’t be as inclined to walk through the door. Clear all walkways to your house, make sure your landscaping looks nice and de-clutter the inside. Buyers should have an easy experience once they walk inside.
•    Do market your home in a few different ways. Your Brantford/Brant County real estate agent should use the right combination of internet, print and word of mouth marketing when selling your home. This involves a strategy. Before hiring an agent, ask them their strategy for marketing your house.
•    Do showcase your home’s best features. The key to getting multiple offers is to highlight your home’s best assets. If you have a spacious, open floor plan, you need to emphasize that. If your home is bright, that needs to be shown off. Make minor adjustments before showings to make sure you’re putting your best foot forward.
•    Don’t take a “hard sell” approach. Many buyers are tempted to stick around during showings to “show” buyers the best parts of their home. This is a huge mistake. Most buyers feel uncomfortable when the seller is present at a showing and feel pressured. Let your agent handle the sales pitch. You focus on getting your house ready to show!

As a Brantford/Brant County Real Estate Agent, I highly recommend that my sellers employ these tactics upon listing their home. I’ve found that these approaches produce better results and create a more stress-free transaction. If you ever have any questions about the best way to sell your home in the Brantford/Brant County Real Estate market, don’t hesitate to contact me and ask. I’d be happy to help you. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantfordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, July 19, 2012

Tight Credit? You Can Still Get Financing For Your Brantford/Brant County Home!

While it’s true that the Canadian real estate market is faring better than others worldwide, lending restrictions are still quite tight. Many have suffered a financial blow during the recession, and thus have had to face multiple credit issues. This causes a problem during a time when banks are incredibly selective about whom to give a loan to. As a Brantford/Brant County Real Estate agent, however, I have worked with buyers of all walks of life. I can safely say that even if you are facing tight credit, you can obtain the loan that you’re looking for in your real estate transaction.

If you practice these three tactics when you go about getting a loan, then you’re far more likely to see success and obtain the Brantford/Brant County home of your dreams.

1.    Submit all the correct paperwork at once. Most banks aren’t requiring any more paperwork than usual, however they are paying close attention to all the necessary documentation in order to meet their strict lending guidelines. If you submit everything that you need at once, your application will be reviewed more quickly and you’ll look more organized.
2.    Submit all of your pay stubs, bank statements and financial documents for the bank to review. It’s much easier for you to obtain a loan if the bank knows exactly how much money you make and what you can spend on each monthly mortgage payment. The more up-front you are about your finances, the easier it will be for your bank to find the right loan for you.
3.    Pay attention to your credit score. You’re going to want to be on your best financial behavior after applying for a loan. Large purchases or missed payments will put a ding in your credit score, and that can raise some red flags for your lender. Even if your credit isn’t the best right now, if it’s apparent that you’re taking the right steps to get back on track and are actively working to rectify your mistakes, then you’re far more likely to get a loan. In my opinion, honesty is the best policy. The more up front you are with your lender and the more proactive your actions, the better.

As simple as these actions may seem, they go a long way in obtaining a mortgage loan during a time when so many are struggling to get financing. Navigating a Brantford/Brant County Real Estate transaction is far from easy, and I consider it part of my job to take some of the stress out of the process. If you have any questions about how you can go about purchasing a Brantford/Brant County home, don’t hesitate to contact me and ask. I’d be happy to help. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantfordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, May 31, 2012

Don’t Fall Victim to Common Deal-Breakers During Your Brantford or Brant County Real Estate Transaction!

Many buyers and sellers in the Brantford or Brant County Real Estate market believe that once the contract is signed and an agreement is reached that everything is finished. All they have to do is go to the closing table, sign a few papers and get the keys. This is a nice thought, and in a perfect world, it would be the case. My many years of experience as a Brantford or Brant County Real Estate Agent, however, have taught me otherwise.

There are a number of things that can go wrong before a transaction is completed. About 29% of all contracts signed in the Brantford or Brant County Real Estate market never make it to the closing table. Nearly three out of ten transactions in which the buyer and seller have come to terms with the entire agreement fall apart. In a healthy real estate market, about 90% of agreed upon deals make it to close. This begs the question: why do some deals fall apart? If you can identify the common factors and work with the right Brantford or Brant County Real Estate Agent, you can spot these deal-breakers early-on and work to rectify the issue before the deal is done.

The short sale: it isn’t always so short. In theory, short sales should move quickly: buyers can lowball an offer and a seller doesn’t care because they get no money out of the deal anyway. The problem in these transactions is the lender. They won’t accept just any offer on the property. If they’re going to accept the sale for less than what is owed on the home, they need to make sure it’s worth their while. This results in appraisals, negotiations and rejected offers. It can take months to process these transactions, and it could result in impatient buyers backing out of the deal.

Appraisal issues are abound in today’s market. There are more appraisals coming in short than any other time in history. With the number of foreclosures, short sales and distressed situations on the market today, the comparables on different properties in the area are dragging home values down, resulting in lower offers from buyers and dissatisfied sellers.

Title challenges are delaying deals. The analysis of Permits and Certificates of Occupancy are at an all-time high, and potential complications are creating delays that will tempt impatient buyers or sellers to back out of the transaction.

Some pre-qualifications are done poorly. Some lenders don’t take the time to accurately review a buyer’s tax returns, pay stubs, bank statements and other important financial information before pre-approving a loan. Then, once the application is submitted and an issue is found, the buyer doesn’t end up getting the loan and the deal falls apart.

Unforeseen circumstances are always a factor. Buyers remorse, property damage and job loss are all unforeseen incidences that can occur at any point during the transaction. Sometimes, it can seem like every day a new, debilitating factor pops up.

Now that you can identify what some of the most common deal-breakers are, you can keep your eye out for potential issues early-on in the transaction. If you work with the right Brantford or Brant County Real Estate professional, then you will find that you have an advocate on your side that spots and fixes these issues on your behalf quickly. Sometimes, the best defense is a good offense, and knowing about these potential problems ahead of time will only allow you to easier prevent them should they arise during your Brantford or Brant County Real Estate transaction.

If you have any questions about buying or selling a home on the Brantford or Brant County Real Estate market, don’t hesitate to contact me. I will help you through every phase of the transaction, from list to close. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8  Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, May 24, 2012

Find the Right Brantford/Brant County Real Estate Agent in Five Steps

Selling a home is a huge decision, and quite frankly, it’s also very stressful. That’s why so many people decide to hire a Brantford/Brant County Real Estate Agent to help them throughout their transaction. Each step of the process is tricky and complicated to navigate if you don’t have any experience, and hiring a professional takes that additional stress-factor off of your shoulders. Your agent will take care of everything on your behalf and give you the advice and guidance you need to prepare your home for sale. It’s a lot of responsibility to entrust to someone, which is why when you go to hire an agent, you have to be very careful about whom you select.

If you want to start your Brantford/Brant County Real Estate transaction on the right foot, then you’re going to want to take the necessary steps to finding the perfect agent for the job. Here are five things that you need to do to ensure that you find the right real estate agent for your home sale:

1.    Create a list of possible prospects. You can utilize websites like Trulia, Zillow and REALTOR.com to research various agents in your area of service. It would also be beneficial to get referrals from family and friends. It’s important to read reviews of the agents you’re considering and get a list of names from trusted sources. You’ll want to narrow down the list you make based upon the agent’s niche in the local market. You want the expert who will be the most familiar with your particular type of transaction.
2.    Don’t skimp on the tough questions during your interview. When you sit down and interview a potential Brantford/Brant County Real Estate Agent, you want to ask basic questions about their background and experience, but you also want to ask them some more difficult, probing questions that give you a sense of their work style and methodology. How familiar is the agent with your neighborhood? What is their plan to market your home? You’re going to want to hire someone who has a strong familiarity with your area and a clear-cut plan for marketing your listing.
3.    Get an idea of each agent’s agency relationship. Some real estate agents in the area participate in what is called dual agency, or representation of a buyer and seller at the same time during a transaction. This isn’t a bad thing, but you will ideally want someone who will only work on your, the seller’s, behalf. You’re going to want somebody who will go to bat for you and look out for your best interests, and that can get complicated when your agent is also representing the other party in the transaction.
4.    Does your agent have any backup? Most real estate professionals are incredibly busy. They’re always on the go. Since they’re supposed to be worrying about showing your home and negotiating with the buyers, they may not have the time needed to get the paperwork and administrative tasks done in a timely fashion. That’s why it’d be ideal for your agent to have an assistant or marketing team. They can be a point of contact for you, and you know that your agent has the manpower to get things done on your behalf quickly.
5.    Set your expectations. Before you sign a contract with an agent, you need to make sure that you have a clear idea of the timeline that will be in place to get your listing off the market. Most agents will ask for three to six months to sell a home. If you live in a luxury property, it may be up to a year. You need to know this ahead of time in order to know what to expect.

As an experienced Brantford/Brant County Real Estate professional, I believe that this is the best way to go about finding the right person to sell your home on your behalf. If you make a careful, thorough decision, then you are more likely to be happy with your quality of service. Feel free to contact me at any time if you’d like to know how to go about preparing your Brantford/Brant County Home for sale. I’d be happy to help you and answer any questions that you may have. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8  Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, May 10, 2012

A Few Ways to Tighten Security in Your Brantford Condo

Before I begin to give you some basic safety tips, I just want to emphasize that I am by no means saying that the Brantford area is unsafe. In fact, it is a great city to live in. It’s just sort of obvious that when you live in a condominium, you don’t always prioritize security as much as you would if you live in a single family home. Since many condominium complexes in Brantford, particularly high rises, have a security desk or phone system to let people in to your unit, you naturally think that you’re safe. In reality, you are just as susceptible to crime in this environment as you are in a single family home with a high-tech alarm system.

With that being said, given the difference in environment and circumstance, the security measures that you will need to take in your Brantford condo will be different than those you would take for a single family home. As your Brantford Real Estate resource, I have experience in working with people who want to live in both types of homes, and I can give you a few basic safety tips that will help ensure that should you choose to live in a condo, you remain just as secure as you’d be in a home:

•    Investigate the condo’s security features before you move in. Find out which security features that your building has ahead of time. Talk to the building’s superintendent or manager in order to find out the specific features offered. If the measures seem too relaxed for your liking, you will want to find a building that has more stringent safety measures.

•    Find out which doors are locked and secure. In most condominium complexes, the front door won’t be the only one that is locked. Garage, side and rear entrances should also be secured.

•    You should know how your building is monitored. Are there security cameras? How do the doormen know who is coming in and out of the building, besides those who just walk in the front door? These are questions that you will want to ask prior to purchasing a unit.

•    What type of keys will you be using to enter the building? Many modern buildings now will use high security keys or fobs for entrance. This is a feature that you will want to confirm that your building has, as it indicates a more stringent safety system.

•    Confirm your building’s lighting and extra security measures. During the evening hours, your condominium complex should be well-lit. It should also have secured doors on all storage units and other parts of the building that are typically meant for communal use, such as exercise facilities. See how your building goes above and beyond to keep all parts of the complex as safe and secure as they possibly can.

If you follow these measures listed above, you can ensure that your Brantford condo will be secure. As a Brantford Real Estate agent, I think that it’s important to give these reminders in order to help my clients find the property that is most ideal for their needs and living situation. If you have any questions about how to go about searching for the right home or condominium in the Brantford area, don’t hesitate to contact me. I’d be happy to help you in any way I can. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 525 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, April 26, 2012

Use Technology During Your Brantford Home Search!

Technology is everywhere today. People are reading books on their tech tablets, using apps for just about everything and beginning their Brantford home search online. As a Brantford Real Estate Agent, I not only do everything that I can to stay on top of the tech trends myself, but I also advise my clients to use the technology available to them to ensure that their transaction goes smoothly. There are a number of ways that you can accomplish this, including apps, social media sites and online directories.

I consider it one of my responsibilities as a Brantford Real Estate resource to let my seller and buyer clients know about all of the tech tools that they can use to make their transaction easier. Here are a few of my favorite tech-friendly ways of starting your home search:

•    Facebook Marketplace. Think about it: almost everyone is on Facebook. Why not tell your Brantford Real Estate Agent to market your listing on there, or use it to start looking for some potential properties? You’d likely know the person who is selling or buying the property because they would be part of, or connected to, someone in your immediate network. Social media is a powerful tool for connecting with others, and you can use those connections in day-to-day business transactions, too. Besides, you’d feel better about closing a transaction if you knew and trusted the other party, and using a social media site can help you guarantee that.

•    The New Home Buyers Network iPad app. This app is perfect because it is specific to people who live in Ontario, making it ideal for those looking to buy a home in Brantford. This iPad app, which was launched on Tuesday, is aimed to help local buyers find new condos and houses in the area. You can view floor plans, share listings and “favorite” properties that you want to see again for a closer look. Today’s home buyer is on-the-go, so these tech tablet applications are perfect for that.

•    Kijiji. Before you shy away due to the eBay connection, keep in mind that easy-to-use online classified sites aren’t the worst place to start looking. This site is free to use, and you can peruse ads for everything from real estate to jobs to automobiles. Sub-categories help you narrow down your search even further. You will have to be more careful in using these sites to answer ads that are legitimate, but if you learn to read between the lines, then you can find the perfect property for you. You should also get your Brantford Real Estate Agent to use Kijiji in order to expose your listing to even more potential buyers.

I consider it one of my main responsibilities, as a Brantford Real Estate resource, to let people know about some of the ways in which they can use technology to help guide them through their transaction. Whether you prefer to utilize your tech tablet on-the-go, log on to social media sites or peruse a classified ad online, all of the methods listed above will both ensure that your Brantford home gets more exposure and make it easier for you to find a new one.

If you have any questions on how you can use technology to your benefit during a Brantford Real Estate transaction, don’t hesitate to contact me! I would be happy to meet with you to discuss your options. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

Over 521 Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

Connect with Me

Thursday, April 19, 2012

Avoid These Common Mistakes After Applying For Your Brantford Mortgage

Despite the fact that lending restrictions are easing up on the Brantford Real Estate market, obtaining funding for a home purchase is still not easy. After submitting a loan application on a Brantford home, lenders go through the slow review process and determine whether or not you are eligible for a loan. The process of applying for a mortgage is complicated, and you want to make sure that you are on a positive note with the lenders. That means that even after the application is submitted, you have to be on your best “financial behavior” for awhile.

Many Brantford home buyers tend to make common errors immediately after submitting a loan application that could result in them getting denied a mortgage. If you avoid them, then the likelihood is that you will obtain your Brantford home loan without a hitch. Here are some of the most common mistakes that people make immediately after submitting their loan application:

•    Don’t deposit large amounts of cash into your bank account. Lenders need to be able to source your money, and cash isn’t really traceable. Making small deposits is okay, but if you’re receiving large cash gifts from family members you may want to refrain from making the deposit for awhile. It makes it more difficult for a lender to track your assets.

•    Don’t make any large purchases. New cars, large amounts of furniture and other large-scale purchases raise a red flag to lenders if they are bought too close to when you submitted your application. These sorts of purchases tend to require additional funding over large periods of time, and that could interfere with a potential mortgage payment. In order to avoid any questions about your spending, save the large-scale purchases for AFTER you receive funding.

•    Don’t co-sign loans for anyone else. Even if you’re not going to be paying the monthly payments on another loan, you are still obligated since your name is on the paperwork. The lenders will count this against you, so doing this when you’re trying to obtain a mortgage may not work in your favor.

•    Refrain from changing bank accounts. Lenders track assets. If you’re switching bank accounts immediately after applying for a mortgage, this task is made much more difficult due to a lack of consistency within the accounts. If you’re going to do this around the time you submit a loan application, make sure you talk to your lender first.

•    Don’t apply for new credit OR cancel existing credit accounts. Your FICO score is affected every time you apply for a new credit card, which could impact your interest rates or result in you getting denied a loan. In regards to canceling existing accounts, depth and length in your credit history matters. If you cancel a long-standing credit card, you score will be affected, which could complicate matters when the lenders are reviewing your application.

As a Brantford Real Estate Agent who frequently works with home buyers, I feel that it’s important to educate my clients on how to put their best foot forward during the loan application process. This can be a complicated and stressful part of any real estate transaction, and avoiding these common errors will ensure a smoother outcome.

If you have any questions about how to start your Brantford home search, don’t hesitate to contact me! I’ll use my years of experience to help you throughout each stage of the transaction. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

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Thursday, April 12, 2012

Buy a Top-Performing Property in Brantford

Many investors on the Brantford Real Estate market see the words “foreclosure”, “estate sale” or “motivated seller” and think that they have found the best deal on a potential money-making property. It’s true that these homes might be priced in a range that is enticing, but as an investor, if you’re looking to succeed, you need to consider factors outside of price point. As a Brantford Real Estate Agent who works with investors frequently, I tell my clients to consider a bunch of different facets of each property before they commit to an investment. Here are a few of the more important elements to consider:

Look at the big picture. How is the national real estate market right now? Is it a good time to invest? What price point SHOULD you be investing in based upon market conditions? These are all very important questions to ask yourself before jumping on the next cheap Brantford foreclosure. Buy what you know, understand and can comfortably afford to take on.

Check out the specific area. Before you invest in one of Brantford’s many properties, you need to consider whether or not it is sustainable long-term. Will people still be living and working in the area 10-15 years from now? Areas thrive and fade all the time and you don’t want to invest in an area that is on the way down. It’s something important to consider.

Location is key. You want your investment property to be close to amenities, transportation and major areas of employment. That’s where you will see the most buyer traffic and a higher likelihood of profit. Do your research on the neighborhood in which the property is in and assess its location before putting in an offer.

Really examine the individual property. When it comes to investing, you need to make sure that the property you are looking to purchase will end up covering all of its costs and the work you will put into it either through resale or tenancy. It’s important to figure out what needs to be done, work-wise, on the features of the home before you choose to invest.

Check out the market. What are other investors in the area paying for their properties? You don’t want to overpay or be too far off from the norm. Do your research and have the stats to back you up during negotiations. Without doing this, you could overpay and end up losing money on the property, so you’re going to want to take this step seriously.

These are only a few of the many factors to consider as you search for the most profitable, high performing investment property on the Brantford Real Estate market. In order to see success in the world of investing, you need to make savvy business decisions that will benefit you, so paying attention to buzzwords that suggest “cheap” properties won’t always give you the best results.

If you have any questions about how to find the right investment property in Brantford, don’t hesitate to contact me! I’d be happy to show you some of what’s available in the area and help you make the right choice. I hope to hear from you soon!

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage

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Thursday, April 5, 2012

Don’t Forget These Disclosures During Your Brantford Home Sale

No property is without its problems. In today’s market, however, many Brantford home sellers are afraid to disclose certain issues that their home has for fear of not getting as much during the negotiation process. As your Brantford Real Estate Agent, I make it a priority to let my clients know exactly what they should be disclosing to buyers during a sale. Failure to inform a potential buyer of certain issues or qualities of your property can result in costly lawsuits or fines for you down the road. Granted, every territory has different disclosure laws, however there are things that you absolutely MUST disclose to a buyer when you list your Brantford home for sale to avoid potential problems.

Before you panic about not knowing what to disclose during your Brantford Real Estate transaction, here are five things that you should likely remember to tell buyers about before you reach the closing table:

1.    Repairs. It doesn’t matter whether or not you’ve gotten an issue fixed already; you need to let the buyer know about it. If there is anything, such as a crack in the ceiling, repaired plumbing issues or roof fixes that have been done relatively recently on the property, you need to disclose that information. Not all problems or repairs are obviously identifiable to a buyer’s eye, so you need to ensure that you give full disclosure in order to avoid potential problems down the line.
2.    Termites or pest problems. Termites and other foundation-ruining pests can significantly decrease a home’s value. This definitely poses a problem for sellers, but if you get an inspection before listing your home and show certification that you’ve gotten the issue taken care of, you could avoid taking a hit on this disclosure.
3.    Mold or water damage. Mold, dampness and flooding damage is something that can easily be spotted by a home inspector, even if it has been painted or plastered over. Sometimes, however, these issues can be concealed and a seller will think that they’re in the clear. Since the inspector didn’t bring it up, they don’t have to disclose it. Obviously, this thinking is wrong. This is a huge cause for a lawsuit if uncovered, so once again, ALWAYS disclose these issues to the buyer before closing.
4.    Lead paint. Houses built before the late seventies oftentimes have lead paint, which can cause harmful health issues. It’s incredibly important to disclose this information about your house. It’s also imperative to get the house inspected for lead paint before listing the home in order to prove that everything is completely, 100% safe.
5.    An infamous past. Some houses have a few skeletons in their closet. That doesn’t make it any less amazing of a property. Unfortunately, these issues can affect a home’s value at resale, since in today’s world finding out a home’s dirty little secrets is as easy as typing the address into the Google search box. Disclosing any past issues that could have occurred in your home that might be scandalous on some level will allow you to avoid some major run-ins with a buyer’s lawyer.

As your Brantford Real Estate Agent, I feel an obligation to emphasize the importance of disclosure. It’s a law, and you could get into trouble as a seller if you don’t disclose any and all information that you are obligated to. These five disclosures above might be a bit of an obstacle when it comes to selling your Brantford home, but with the right professional working with you, you will be able to find the right buyer who can deal with the news.

If you have any questions about how to go about listing your home on the Brantford Real Estate market, don’t hesitate to contact me. I hope to hear from you soon.

Wally Dufrat | Sales Representative
RE/MAX Twin City Realty, Inc. Brokerage
Over 518 Real Estate Closings!
515 Park Road North | Brantford, ON N3R 7K8 Direct: (519) 752-5400 & (877) 759-5900 | Cell: (519) 761-7400 | Fax: 519-752-3400

Before You Buy or Sell Your Next Home, Visit My Websites at:
www.BrantofordHomeInfo.com or www.FreeBrantfordHomeInfo.com for FREE Information!

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