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' QUESTION: I am in the process of buying a large home and can‘t »make up my mind whether to sell the smaller one or rent it out. Can you help? ANSWER: I strongly recommend selling over renting. Often vendors dream of making "big money" by renting extra properties over a long term basis. Unfortunately, they don‘t anticipate the possibility of a "bad" tenant. Trying to remove them could take several months and sometimes up to a year. The aggravation, loss of rent, mainteâ€" nance/repairs and redecorating costs could affect not only your pockâ€" et book but your general health and well being. We as Realtors know of what we speak because we are the ones that eventually are called upon to sell previously rented homes on the vendors behalf. Some of them are really not a pretty sight to behold. It‘s better to sell the smaller house and use the money to buy what you need in furnishâ€" ings or pay down your mortgage. Please call me anytime to discuss your current or upcoming real estate needs. I‘m approachable. Attention to detail part of Realtors‘ services Your Realtor will conduct a thorough inspecâ€" tion of your propâ€" erty to help deterâ€" mine what your home‘s market value is. He or she will take accurate measurements along with a detailed descripâ€" tion of the properâ€" ty. (C ontinue d from page 6) You‘ll also be David Higgins, Associate Broker/Manager, is pleased to announce that Carolynne Sawdon has joined the sales team at Royal LePage‘s 326 Lakeshore Road East office in Oakville. Please join us in welcoming Carolynne to our office and feel free to call her anytime at (905) §45â€"4267 regarding your Real Estate needs. 24 Hour Pager â€" 338â€"3/ 3/ Sales Representative Royal LePage Real Estate Services Ltd. 251 North Service Road West Oakville, Ontario. L6M 3E7 RENTING VS SELLING YOUR HOME YXNNE SAWDON Royal LePage Real Estate Services Ltd PAT BINGHAM The Realtor will also ask you questions to get a asked for docuâ€" mentation on taxes, surveys, title deed and mortgage inforâ€" mation. As well, it‘s important for them to know if there are any limiâ€" tations on the property which might affect its value â€" such as a rightâ€"ofâ€"way. Sales Representative ssm 001011 ROYAL LePAGE Oppopome i 0 Revel e Eawe Sevcon L , Bc Aim Higher For instance, you may have no pressing need to sell your home and are willing to wait a year until the right offer comes in. On the other hand, if you‘re being better idea of your sales _ circumâ€" stances (whether you are pressed for time or not) and what your expectations are. Use of MLS gives your home maximum expoâ€" sure in today‘s m arketplace because it offers the Realtor the The real estate professional also needs to do a marâ€" ket value comparâ€" ison to see what c o m p a r a ble homes in the area are selling for. You‘ll also decide how long the listâ€" ing will be for and whether it will be put on the Multiple Listing Service (MLS). transferred _ to another job postâ€" ing, you‘ll have more time conâ€" straints. These are things your Realtor ~should know, so â€" that he/she can recomâ€" mend a marketing approach that best suits your needs. e Use of the improved Plexvent®, Ultravent® and Selâ€"vent® vent systems for repair and replacement only (with the understanding that longâ€"term testing has not been completed). * Taping with highâ€"temperâ€" ature foilâ€"backed tape as a temporary repair (consumers should contact the vent inanuâ€" (Continued from page 14) Consumers who have ventâ€" ing systems which require repair or replacement may consider one of the following options: Info For instance, a Realtor may estiâ€" mate the market value <of your home to _ be $180,000 â€" but if VALUE PRICE Before listing your home, you should understand that there is a difâ€" ference between the market value of your property â€" and the price you ask for. Often, the two are not the same. opportunity to use the facilities and services of other Realtors through a system operated by the local real estate board. Only Realtors (memâ€" bers of â€" the Ontario Real Estate Association and local real estate boards) have access to MLS. * Removal of the appliance and venting system and replacement with a highâ€" efficiency appliance. Consumers should seek specific advice from the manâ€" ufacturer of their appliance or * Replacement of the existâ€" ing system with an approved alternate venting system where possible (stainless steel vent systems are approved for some appliances). facturer to determine if taping voids the warranty. Taping must be performed by a qualiâ€" fied contractor). As an owner, you‘ll be responâ€" sible for trying to assist in the marâ€" keting of your property where possible â€" without you‘re under presâ€" sure to sell in a hurry, he/she may advise you to list below $180,000. On the other hand, if you‘fe _ not pressed for time, your Realtor may advise you to list it slightly above market value. TEAMWORK One of the most important steps in listing a property is for the Realtor to develop a good working relationship with you. At this state, you, the broker, and salesperson are forming a team for the purâ€" pose of selling your home. FOR BUYERS Once the listâ€" ing is complete, the Realtor will check his/her conâ€" tact lists and begin to try and pinpoint the preâ€" qualify potential purchasers â€" for your home. This way, you avoid an endless parade of totally disinterestâ€" ed viewers through your house. If an offer to purchase is proâ€" cured while the The Realtor will tell you about preparing â€" the house, arranging showings or open houses, and tell you about what‘s involved in offer presentations. actually becoming p hy s ic a 11y involved in showâ€" ings. Ontario is the first jurisdicâ€" tion in North America to take action to resolve this problem and is continuing to work with the industry and the ULC to find a longâ€"term soluâ€" tion to the problem of vent failure. Consumers may contact the Ministry of Consumer and Commercial Relations‘ inforâ€" mation line at (416) 234â€"6008 (English) or (416) 234â€"6028 the manufacturer‘s distributor as to the options available for their specific appliance. (French). For more inforâ€" mation about the listing process, contact a Realtor who specializes in your area. You â€" should realize that there is usually â€" a holdover clause in listing _ agreeâ€" ments. This means that even after the listing expires â€" if one of the purchasers introduced to the property through the marketing activities of the broker buys it within a specified time limited â€" a commission is owed to the broâ€" kerage. listing is in force, and you accept it, you then owe the real estate brokerâ€" age firm a comâ€" mission for havâ€" ing used its serâ€" vices.