Ask David

What if I price low and don’t get any offers over asking?

Dear David, These days, asking prices are intentionally being kept well below a property’s market value. What happens if the highest offer a seller receives matches this “undervalued” asking price? Is there a penalty if the seller rejects the offer? I don’t want to get burned. – PRICING PROBLEMS DEAR PRICING: Thanks for a great

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Broken Piggy Bank
Ask David

Clever marketing makes it look like home sold over asking

DEAR DAVID: We’ve heard some crazy stuff about selling prices these days. Some homes are selling for $50,000 over asking price and some for as much as $300,000 over asking. What’s going on? – BLOWN AWAY DEAR BLOWN AWAY: To understand what’s happening, we first need to differentiate between market value and marketing. Market value

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Ask David

Retirement mortgage, How long does it take to sell?

Dear David, We’re in our sixties and want to downsize. Will the bank still give us a mortgage? – READY TO SIGN DEAR READY: The quick answer is yes, since the big banks base their lending criteria on income. Your question is timely as many people assume they won’t need a mortgage at this stage.

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Ask David

Is it worth staging an entry-level home, Summer market snapshot

Dear David, We have an entry-level semi-detached home and are ready to sell.  We’re sure it will attract lots of buyers, is it really worth staging? – POPULAR DEAR POPULAR: In my opinion it’s worth pulling out all the stops, even if you think your home will be an “easy sell”. I agree that an

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Ask David

Designated Parking, Discounted List Price, Financing Clause

Dear David, We own a business in Kitchener and someone keeps parking in our designated parking spots. Is there anything we can do? – FRUSTRATED DEAR FRUSTRATED: Parking violations on private property are generally handled by your city’s bylaw enforcement team. In the City of Kitchener, if a driver parks in a spot designated for

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Ask David

Rental properties, Tired carpet, Busy Street

Dear David, We found 2 rental properties we like and can’t decide which one to buy. Which factors do you think should sway our decision? – CONTEMPLATING DEAR CONTEMPLATING:  The condition of the rental properties and demographic of the tenants are important to consider right off the bat. Are the tenants cooperative? If so, look

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