Placing an Offer for Clients - Watch Video

We would expect that the sellers and their agent would waive any liability when answering these questions with "not to our knowledge" but these questions are designed to raise red flags

Questions about the property

1. Are there any issues we should be aware of? Physical deficiencies with the property, or property stigmas.

2. Are there any proposals for development or rezoning in the immediate area that you have been made aware of?

3. Does the property contain any asbestos, was there any in the past that had been remediated?

4. Was there ever a pool on the property that was dismantled or buried?

5. Is your seller a Canadian resident? Are there any special tax considerations related to being a non-resident?

6. Did your seller do a pre-home inspection? or inspection when they purchased, that they would share?

7. Has there ever been any flooding? Any Grading issues? Is there a backflow valve in the basement? 

8. Any insurance claims on the home?

9. Any home improvements completed recently? Is there permits for any of the completed work?

10. Are there any floorplans/ Virtual tour?

11. Is there a survey of the property

12. Are there any easements on the property?

13. Any zoning restrictions? Part of any escarpment or land authority?

14. Any rental equipment? i.e. hot water tank/ furnace/ AC if so, rental cost?

15. is there any special equipment required on the property to maintain function? Ie. Water softener, sump pump?

16. Is the home equipped with aluminum wiring, if so, has it ever been addressed in the past?

17. Is the home built pre 1980? Is there clay pipe running from the home to the main sewer at street?

18. Does the seller have a home inspection from when they bought the property?

19. Do you have a list of upgrades the seller has done since they purchased the property?

20. ***Specific questions relating to that home. I.e. we noticed...

21. ***Pool depth, and pool dimensions.
Ages of:

- Furnace

- Roof

- AC

- Windows

-Pool

-Pool liner

-Pool equipment


Any material facts we should be aware of? Items that are often considered to be material facts and latent defects
could include (and are not limited to): 

1. The type of insulation and wiring (for example, knob and tube wiring);
2. The type of plumbing (for example, lead piping or galvanized plumbing);
3. The age, condition, and ownership status of any major home systems (for example, heating, air-conditioning, roof, and windows);
4. A history of flooding, structural damage, or any previous dwelling fire;
5. Renovations and improvements made to a property and whether the required permits were obtained;
6. Property tax amount and if there are any special assessments or local improvement charges;
7. Zoning by-laws, established by the municipality, region or other governmental agency, impacting the legal use of the property;
8. Whether a property had been used as a marijuana grow operation or for other illicit purposes;
9. Any rights-of-way, allowances, or restrictions on the use of the property established by the municipality, region, or other governmental agency, or otherwise on title; and,
10. Existence of nearby businesses or facilities that may impact quality of life (for example, quarries, industrial facilities, airports, rail lines, etc.).

Condo:

1. Anything in the status certificate we should be aware of? Any planned increases to the monthly fee that your seller has been notified of?

2. Have you received any notifications from the board about important items to be addressed in upcoming board meetings that may not yet be addressed in the status certificate?

3. Do you have the status certificate?

4. Are pets allowed in the building? Any restrictions?

5. What can be done to obtain extra parking?
6. Who is responsible for roof/ windows/ grass/ snow?
7. Can you please validate per MLS that the inclusions mentioned are: _________________________________
 

Rural:

• Is this property subject to Niagara escarpment authority or Halton Conservation?

• When was septic last cleaned out? Has there been any recent septic inspection?

• Is there natural gas service to this property?

•  Any information you could shed on the well?

Regarding offers
1. What time Is the presentation? I saw the offer registration is 4p. Are presentations in person at the property?

2. Have you had any offers in the past?

3. Is there a price your sellers are willing to accept to have this done today?

4. Do you have a detailed list of inclusions/ exclusions/ negotiables?

5. Is there an ideal closing date?

6. Is there a primary comparable you and your seller reviewed in order to evaluate the property?

7. Can you share your comparables appraisal with us? 

8. What time can we/ you present the offer?

More to gather for client: - Survey? Oakville

- Age of the home - When current owner bought - our neighborhood reports - Floorplan? - Virtual tour - HoodQ - compareschoolrankings.org - Are there any permit violations registered? Check city sites - Costs analysis spreadsheet - Link to neighbourhood profile on our site

We suggest doing some of your own homework Buying a condo?

https://www.condoauthorityontario.ca/

https://cmrao.ca/

CMHC condo buyers guide 

https://www.cmhc-schl.gc.ca/en/consumers/home-buying/buying-guides/condominium

You may also want to consider the following information when viewing homes. 

Think about what you need in your day-to-day life, then make sure the property’s layout, features and location will meet those needs. For example, if you take the TTC to work, you can ask how close the property is to the subway. But if you get around by car, being close to transit may be less important. Instead, find out how far the highways are – and what the parking situation looks like. Find out about the criteria that are important to you.” 

Once you’ve determined has the right number of bedrooms and bathrooms, and falls within your price range (don’t forget to factor in maintenance fees!), here are a few “deeper dive” questions we recommend asking: 

1. How old is the building?

There are pros and cons to both newer and older buildings. New ones are certainly sexier – and are likely to appreciate more in their first few years – but they tend to cost more per square foot, and units are smaller. Older buildings may not be as slick and can come with higher maintenance fees. But they often have bigger units that will run you less per square foot than a more recent build. Hint: you can see the age of the building in any listing on condos.ca – it’s right at the top. 

2. Who's the developer?

Anyone can build a condo – but they don’t all do it well. A little research into the builder’s reputation can make a big difference in your experience. 

3. Does the property have all the features you want?

Want a bedroom big enough for a king bed? A kitchen with lots of counter space for prepping? A place where you can work from home – without having to tune out the TV? Make a list of your must-haves before you start looking, and refer to it every time you consider a listing. 

4. What are the amenities like?

Want a full fitness facility that’ll let you drop your pricey gym membership? Is a guest suite important for putting up frequent out-of-town guests? Do you want a resort vibe where you can lounge poolside in the summer? Look at the list of amenities and make sure they fit your needs. 

5. What are the maintenance fees and taxes?

We’ve all been there: you see an amazing condo that looks like a great deal…until you get sticker shock from the monthly condo fee. Make sure you can viably swing your mortgage payments PLUS maintenance. And take a look at the property taxes, too – it all impacts what you can afford. 

Read more: Let’s talk about maintenance fees

6. What's in the neighbourhood?

Is there a decent grocery store nearby? A pharmacy? How about restaurants? A dog park? Hiking or running trails? A movie theatre? Shopping? What can you walk to easily? Condos.ca listings all have enhanced demographic info with an at-a-glance view of what’s in the neighbourhood. 

7. Is there anything else being built in the area?

Find out what’s slated to go up nearby. Whether it’s a development that’s underway now or a project that won’t be breaking ground for another 3 or 4 years, it’s a good way to ensure you won’t end up living in a construction zone. Up-and-coming areas are great, of course – your property will only appreciate as more stuff gets built around it – but if you’re not up for a bunch of noise, dust and traffic snarl ups, it may not be the property (or the neighbourhood) for you. 

8. Does the building allow Airbnbs?

Let’s say you’re planning to supplement your income by renting out your place on weekends. Or maybe you want to avoid living in a place that has a lot of people coming and going. Either way, have your agent check into the rules around short-term rentals. And read up on the building yourself – you’re bound to find lots of info (both good and bad) if the condo gets a lot of Airbnb guests. 

9. What's the mix of rentals vs. owner-occupied units in the building?

Whether you’re an investor who wants to know if the building is attractive to tenants or a buyer planning to live there yourself, knowing the mix can give you a good sense of the building’s culture. Your agent can get that info for you. 

10. Any rules around pets?

If you’ve got fur babies (especially big ones), this is an important question to ask. Some buildings restrict the size of dogs allowed in the units. And it’s a good way to tell if a place is pet-friendly, too. 

11. Does the unit have outdoor space?

After COVID, balconies and terraces are on everyone’s must-have list. If an outdoor area is important to you, check the listing to see whether it has a place for your patio table. Don’t want to see listings without balconies? Just set your filters on condos.ca to select only listings with outdoor space.  

12. What's the transportation situation?

Getting to work and around town easily is important. If there’s a bus to the subway, get the details on how long it takes and how often it runs. If you need easy access to the GO, map out how long it takes to get to the closest station, what parking is like, and what transit options are available to get you there if needed. 

Also give this a read when contemplating your offer/ strategy: https://buschteam.ca/b/blog/buyers/faqs-buying-a-home.html