Gary Doyle
Sales Representative
Realty Executives of Sudbury Ltd.
The Good, The Bad and The Ugly
I hope this blog finds you and your loved ones all in a safe place. This past year has been like the Clint Eastwood movie “The Good, The Bad and The Ugly.
I am so looking forward to the next year where we stamp out the “Ugly” Coronavirus and get past this global pandemic and back to a life we most likely will appreciate more now than ever.
Some of us, experienced some “Bad” this year, with health concerns, job loss, business disruptions, isolation from work / school colleagues and friends. The adjustments we have all made in our lives to combat these changes really highlights our abilities to change, cope and manage extremely challenging times.
The “Good” is coming, where we can look back on this time and realize we got through it, and life can get back to where we can be free of these life altering restrictions. I do not recall looking more forward to a new year than the one upcoming. I believe there will be great positive momentum built in 2021. A rebirth of friendships, business and social activities that have been put on pause often during the past year.
Merry Christmas and a Happy New Year and I look forward seeing you in the New Year
Gary
People typically like to take credit for a job well done, it feels satisfying to be recognized for good work. As a realtor, we are on the front lines every day working with buyers and sellers to get the deal done. When I first started in real estate it was just me out there trying to figure it out and make things happen. As time went on and deals were getting done, I soon started to realize that a team was forming around me. An invaluable team, a group of Professionals that worked with me to move deals forward successfully.
It starts with working with a mortgage lender that will work with a buyer to determine the best financing options and budget that will meet their needs.
We then view many properties, compete on offers till we get an accepted agreement of purchase and sale. We rely on a qualified home inspector to ensure that the property we are buying is solid and acceptable construction wise.
Well, now we go deep into our bench and call on insurance brokers, appraisers, contractors, property managers or any other subject matter expert we have the confidence in that will provide support, knowledge, and expertise to the process.
Not done yet, we need a lawyer to ensure that all the legal matters, and believe me they are out there, are identified, communicated, and handled with your best interest front and center.
I am so immensely proud of the team of colleagues that I have been able to align myself with over the years. These people are the top Professionals in their field and with a like minded work ethic and a client focused purpose, we as a team “Get The Deal Done”
All the best
Gary
Are properties selling?
Absolutely, in fact, the last four Buyers I have dealt with have all been in a multiple offer situation.
Why is that?
First off, for a variety of reasons Buyers still need to Buy and Sellers still need to Sell. Secondly, we still have an exceptionally low inventory of properties for sale. When a property comes to market priced right Buyers do not hesitate to put in an offer.
Can Buyers view properties?
This is a property by property scenario. For the most part Buyers will have an opportunity to view properties. Sellers want to sell and with the guidance of a professional Realtor who will follow COVID-19 guidelines that are in place to ensure safe viewings for Buyers and Sellers most properties can be viewed.
What are some of the guidelines protecting Buyers and Sellers?
Here is a typical process that I have followed many times over the COVID-19 period. I will review a questionnaire with Buyers that pertains to COVID-19 symptoms, travel, exposing circumstances to confirm there are no concerns.
This information is kept on file and confidential. We also review some best practices while viewing the property. I will wear gloves and carry disinfectant wipes while asking the Buyer client to not touch anything and of course always maintaining our physical distancing. We will leave the lights on, doors open and washrooms intact just so we are limiting any touchpoints during the viewing.
Is this a good time to Sell?
Great question!! As the restrictions start to lift and we get back to business many Sellers are going to come to market at the same time. Therefore, more inventory and choices for Buyers. As I indicated earlier in this post, inventory levels are “exceptionally low” right now, so why wait for competition, get your property to market sooner than later.
Give me a call, text or email and let me reassure you that I can market your property for the maximum sale price in the most safe and professional manner.
See you all soon,
Gary
It was a beautiful Saturday a couple of weeks back and I was excited to “spark up the sauna” and have a buddy over to enjoy the newly renovated cedar interior. I wanted to get things rolling early so we had a good hot sauna later in the day. Well, I am sure you see where this is going…………4 fire trucks and 10 Firefighters later that was the end of my newly renovated sauna, what a shame!!
So, as you can imagine first thing that comes to mind, hopefully my insurance covers this. I fumbled through policy information over the weekend to get some sense of coverage then made the call on Monday morning to begin the process. Boy did it go smooth, listen to this.
Called Insurance company Monday morning, fire/building Estimator arrived Monday at Noon, Insurance Adjuster called Tuesday for Wednesday appointment, cheque was in the mail Thursday morning.
Why am I telling you all this? Our “Outbuilding Coverage” was 10% of the coverage of our home. I have seen some pretty awesome “Outbuildings” over the years. Garages, Bunkies, Boathouses, Saunas, Storage Sheds etc. Ask yourself, do I have enough coverage if something goes wrong?
As many of us are working from home right now, so no better time to pull out the file and take a quick look at your policy and review with your Insurance company just so you are comfortable with your coverage. It would be a shame to pay all those monthly premiums over the years and not be properly covered in a time of misfortune.
A special thank you to the Sudbury Fire Service for their quick response and expertise on putting out the fire safely.
Take care and all the best
Gary
In today’s current market of more Buyers than Sellers, you will find that Sellers are presented with multiple offers on their property. The Seller must then pick one offer to deal with……. or do they?
Just last week, I represented Buyers who were competing with another offer on a property. As usual, I did my research on the value of the property, I discussed with the Buyers an offer that they were comfortable with, and they then put their best foot forward. Unfortunately, we did not come out the winners and the Seller decided to go with the other offer.
At this point, we had two options:
Or
In my professional opinion, when a Buyer is ready to move quickly due to the shortage of inventory, it is in most cases best to try and get an accepted “Back Up Offer”. This way, if the original accepted offer does fall through, your offer will be binding, you will not need to start over with the potential of competing again.
My Buyers chose to submit a “Back Up Offer” and it worked in their favor. The original offer was not able to firm up and our “Back Up Offer” which was agreed upon was now in effect. In this case, we were able to purchase the property for our original offer price which ended up being much less than the original accepted competing offer.
Now does it always work out this way, no…………but at least with this strategy you have a comfortable, calculated opportunity to secure a property.
In today’s fast paced competitive market, Buyers working with a knowledgeable full time professional will have an edge. With that said, call me anytime, as I will be able to help you find and negotiate the right property for you.
All the best
Gary
