Buyer Beware, Seller Be Honest
Posted by Liv Real Estate on
A recent B.C. Supreme Court case favoured the buyer, who backed out a deal to purchase a mansion in Vancouver. She claimed she was misled by the seller and their agent when she asked why the seller was moving. Their answer was that the seller's daughter was switching schools. What they neglected to include in their answer, was the fact that she was forced to switch schools because of bad press surrounding the murder of her father, which took place on the property. Her father was allegedly a leader of the notorious "Big Circle Boys," a gang with roots in China.
The buyer heard rumours about the murder after she removed conditions (back in 2009), and a simple Google search revealed the gruesome details.
This story comes as welcome news to thousands of…
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Higher mortgage rates don't just impact people in the market, for the first time in quite awhile, homeowners that need to renew their mortgages are looking at significantly higher rates than what they've been paying for the past five years.
According to this Globe and Mail article, those who bought a house 5 years ago and chose the most popular 5-year mortgage will see their rates increase from their current rate of approximately 2.44%-2.74% to the new rate around 3.19-3.59%.
I asked Gord McCallum, the founder and CEO of First Foundation, an Edmonton Mortgage Broker for his thoughts:
"One of the challenges facing existing homeowners may be obtaining the best financing at renewal. As a result of the new mortgage stress test, (which requires borrowers…
Have you noticed a drop in your home’s water pressure? While running multiple plumbing fixtures at the same time could cause you to lose some water pressure, a consistent and constant weakening of pressure could mean there is something wrong with your plumbing. Here are some common causes for low water pressure:
Solar rebates have arrived! On June 21, 2017, the Government of Alberta officially opened the rebate program to homes and businesses in Alberta.
Your windows can be responsible for up to 30 to 40 per cent of energy lost in your home. When winter rolls around and you start to feel a cold draft coming from your windows, it could be a sign that it’s time for a replacement. If you have noticeably warped or damaged frames, original aluminum sliders or older wood-framed windows that feel soft and possibly rotten, a window replacement is in your future.
You might not notice the wear and tear on your home, but potential buyers will! Make a great first impression by taking care of a few fixes and simple upgrades. Not only will this boost your curb appeal and make your home more attractive on the market, it can also help you get more qualified offers and a quicker sale.
Photo Credit: Alair Homes
Here are the top 3 things to fix before you sell your home.
A kitchen renovation will increase your personal enjoyment of the space and increase your home’s resale value. Kitchen renovations offer one of the best returns on investment compared to other home renovations. In fact, you can expect to recoup over 80.2% of your renovation costs at resale, according to Remodelling Magazine’s Cost vs. Value Report for 2017, and that is for a minor kitchen remodel.
Photo Credit: Cooperrider Painting
The biggest component of your kitchen renovation will be your kitchen cabinets. A full kitchen cabinet replacement can be very expensive, but you don’t have to spend that fortune for a freshly upgraded kitchen.
Making sure your eavestroughs are in good working order is critical to your home’s ability to ward off flooding and moisture damage. If they are not working properly, you could get water running down your walls and pooling around your home. This can eventually penetrate through the foundation or leak through windows and cause major water damage in your home.
Photo Credit: Rise Up Ltd.
Your eavestroughs might be in trouble if:
As a homeowner, you know that there always seems to be a somewhat endless to-do list of home repairs, improvements, maintenance and other tasks. From odd jobs to home projects that could include things like fixing a leaky faucet, painting the trim, building a shed or even small home renovations. Even if you’re able to do some of these tasks yourself - do you have the time?
Photo Credit: German Handymann & Renovation - Laundry Room Renovation