Welcome to my Toronto. Toronto is an exciting place to live & work. Art gallerys, museums, great restaurants, good jobs,exciting events,festivals etc. A diversity of neighbourhoods make living here a pleasure. Great schools serve our educational needs. I've been serving my clients' needs in finding the best condos or freehold dwellings for the past 27 years & I will help you find your dream home.
Patricia Katz, Broker
416-966-0300
pkatz@trebnet.com
COMPETING OFFERS
http://www.sutton.com/realtor/pkatz
INFORMATION
In certain market conditions, consumers may find that more than one buyer is interested in a property. This is a competing offer situation and creates unique conditions in a real estate transaction. Both sellers and buyers need to consider how to respond when presented with a competing offer situation. Working closely with your real estate broker or salesperson will ensure that you understand the process.
In Ontario, the seller's real estate broker or salesperson is required to disclose the number of competing offers to all buyers who have submitted a written offer. However, the terms and conditions of each offer are confidential to the seller and their broker or salesperson.
WORKING WITH A REAL ESTATE BROKER OR SALESPERSON
The seller's real estate broker or salesperson represents the interests of the seller in the transaction. The decisions about how offers are presented and responded to, as well as which offer is accepted, are made by the seller.
The buyer's real estate broker or salesperson represents the interests of the buyer in the transaction. The buyer makes the final decisions related to their offer, including the important decision of whether or not they want to participate in a competing offer situation.
DUAL SITUATIONS
In some situations, the real estate broker or salesperson will represent the interests of both seller and buyer or multiple buyers. Consumers should seek guidance from their real estate broker or salesperson if this situation arises.
TIPS FOR BUYERS
In competing offer situation, buyers may be tempted to offer more for the property than they planned to and/or remove conditions from offers that are intended to protect them.
Before participating in a competing offer situation, buyers should consider factors such as:
OFFER PRICE:
How much can the buyer afford to offer for the property and how much is the property worth? A high offer could enhance the buyer's chance of success. However, it may not be the best long-term financial decision for the buyer. A competing offer situation does not necessarily mean that a property will sell for more than the asking price. Similarly, an offer that meets or exceeds the asking price will not guarantee that a buyer's offer is accepted.
FINANCING:
Buyers should be aware that pre-qualifying for a mortgage does not safely eliminate the need for a financing condition in an offer.
HOME INSPECTIONS:
In competing offer situations, it can be tempting NOT to include a clause in an offer that makes it conditional on a home inspection. While your offer might be more acceptable to the seller, you may later learn that there are property defects, required repairs or needed upgrades that you weren't aware of. In some cases, this can be expensive in the short or long-term. Foregoing a home inspection is a significant risk that a buyer needs to carefully consider.
TIPS FOR SELLERS
The Seller who is facing competing offers has to consider how they want to deal with the situation. The seller can decide to: accept the best offer; negotiate with one buyer and reject all other offers; negotiate with one buyer and advise other buyers that their offers are being set aside while the seller negotiates; or reject all offers.
Even in a competing offer situation, buyers have other options and may choose not to continue to participate. A seller may attempt to negotiate only to find out that it was the best offer the buyer could present. In the meantime, other buyers have found new properties they are interested in.
The seller's real estate broker or salesperson can provide advice and guidance, ensuring that the obligations and the options available are understood.
PATRICIA KATZ, BROKER
FOR CLARIFICATION OR MORE INFORMATION YOU MAY CONTACT ME @
pkatz@trebnet.com
or call
office/pager: 416-966-0300
INFORMATION
In certain market conditions, consumers may find that more than one buyer is interested in a property. This is a competing offer situation and creates unique conditions in a real estate transaction. Both sellers and buyers need to consider how to respond when presented with a competing offer situation. Working closely with your real estate broker or salesperson will ensure that you understand the process.
In Ontario, the seller's real estate broker or salesperson is required to disclose the number of competing offers to all buyers who have submitted a written offer. However, the terms and conditions of each offer are confidential to the seller and their broker or salesperson.
WORKING WITH A REAL ESTATE BROKER OR SALESPERSON
The seller's real estate broker or salesperson represents the interests of the seller in the transaction. The decisions about how offers are presented and responded to, as well as which offer is accepted, are made by the seller.
The buyer's real estate broker or salesperson represents the interests of the buyer in the transaction. The buyer makes the final decisions related to their offer, including the important decision of whether or not they want to participate in a competing offer situation.
DUAL SITUATIONS
In some situations, the real estate broker or salesperson will represent the interests of both seller and buyer or multiple buyers. Consumers should seek guidance from their real estate broker or salesperson if this situation arises.
TIPS FOR BUYERS
In competing offer situation, buyers may be tempted to offer more for the property than they planned to and/or remove conditions from offers that are intended to protect them.
Before participating in a competing offer situation, buyers should consider factors such as:
OFFER PRICE:
How much can the buyer afford to offer for the property and how much is the property worth? A high offer could enhance the buyer's chance of success. However, it may not be the best long-term financial decision for the buyer. A competing offer situation does not necessarily mean that a property will sell for more than the asking price. Similarly, an offer that meets or exceeds the asking price will not guarantee that a buyer's offer is accepted.
FINANCING:
Buyers should be aware that pre-qualifying for a mortgage does not safely eliminate the need for a financing condition in an offer.
HOME INSPECTIONS:
In competing offer situations, it can be tempting NOT to include a clause in an offer that makes it conditional on a home inspection. While your offer might be more acceptable to the seller, you may later learn that there are property defects, required repairs or needed upgrades that you weren't aware of. In some cases, this can be expensive in the short or long-term. Foregoing a home inspection is a significant risk that a buyer needs to carefully consider.
TIPS FOR SELLERS
The Seller who is facing competing offers has to consider how they want to deal with the situation. The seller can decide to: accept the best offer; negotiate with one buyer and reject all other offers; negotiate with one buyer and advise other buyers that their offers are being set aside while the seller negotiates; or reject all offers.
Even in a competing offer situation, buyers have other options and may choose not to continue to participate. A seller may attempt to negotiate only to find out that it was the best offer the buyer could present. In the meantime, other buyers have found new properties they are interested in.
The seller's real estate broker or salesperson can provide advice and guidance, ensuring that the obligations and the options available are understood.
PATRICIA KATZ, BROKER
FOR CLARIFICATION OR MORE INFORMATION YOU MAY CONTACT ME @
pkatz@trebnet.com
or call
office/pager: 416-966-0300
Information about Patricia Katz and Services Provided
My name is Patricia Katz and I am a licensed real estate broker, at Sutton Group-Associates, with over 26 years of experience in selling freehold, condo and income properties in Toronto areas including the "Annex", "Little Italy" "King St. West", "Queen St. West" and central East and West End. I am a resident/owner in the Kensington Market Loft Development.
My services include:
providing information of what is currently happening in the Toronto real estate market,
current residential market value assessments,
and finding the best properties for your needs .
Also real estate updates are included concerning the availability and sale of properties.
For more information, feel free to contact me without any obligation!
Patricia Katz, Broker
office/pager: 416-966-030024
24 hour voice mail: 416-208-4096
Sutton Group-Associates Realty Inc., Brokerage
pkatz@trebnet.com
http://mykensingtonmarket.blogspot.com/
pkatz@trebnet.com
My services include:
providing information of what is currently happening in the Toronto real estate market,
current residential market value assessments,
and finding the best properties for your needs .
Also real estate updates are included concerning the availability and sale of properties.
For more information, feel free to contact me without any obligation!
Patricia Katz, Broker
office/pager: 416-966-030024
24 hour voice mail: 416-208-4096
Sutton Group-Associates Realty Inc., Brokerage
pkatz@trebnet.com
http://mykensingtonmarket.blogspot.com/
pkatz@trebnet.com
!!!!!!!OOZES CHARM!!!!!!!
Century Home sells for 112% of asking price set near by Roncesvalles Village Community
"truly a most charming century home"
This enchanting home features urban living in a quiet "artsy" residential setting. Many wonderful Victorian details include over 9 ft ceilings, crown mouldings, 9"-10" wood baseboards, real wood floors, and wood trim. The excellent open concept dining-living layout flows into a spacious eat-in country style kitchen with a pantry and walk-out to a large garden. There are 3 good size bedrooms with closets and built-ins! The renovated bathroom (5 years new) which was featured on the TV show "This Small Space", includes soaker tub, porcelain pedestal sink, tumbled mosaic marble tiles, subway tiles around the tub, plumbing, electrical and new window.This home is located in the Howard Public School District!!Also steps to schools, restaurants, shoppping & TTC.Terrific Curb Appeal is part of this gem which was built in 1890.This home is for the Buyer who loves and appreciates the wonderful character of Victorian Charm!
Pre-inspection report by Carson-Dunlop
Patricia Katz, Broker
Sutton Group-Associates Realty Inc.,Brokerage
416-966-0300
pkatz@trebnet.com
This enchanting home features urban living in a quiet "artsy" residential setting. Many wonderful Victorian details include over 9 ft ceilings, crown mouldings, 9"-10" wood baseboards, real wood floors, and wood trim. The excellent open concept dining-living layout flows into a spacious eat-in country style kitchen with a pantry and walk-out to a large garden. There are 3 good size bedrooms with closets and built-ins! The renovated bathroom (5 years new) which was featured on the TV show "This Small Space", includes soaker tub, porcelain pedestal sink, tumbled mosaic marble tiles, subway tiles around the tub, plumbing, electrical and new window.This home is located in the Howard Public School District!!Also steps to schools, restaurants, shoppping & TTC.Terrific Curb Appeal is part of this gem which was built in 1890.This home is for the Buyer who loves and appreciates the wonderful character of Victorian Charm!
Pre-inspection report by Carson-Dunlop
Patricia Katz, Broker
Sutton Group-Associates Realty Inc.,Brokerage
416-966-0300
pkatz@trebnet.com
Welcome to my Toronto Core Real Estate Blog
Toronto is an exciting place to live and work. Art Gallerys, great restaurants, good jobs, exciting events, street festivals, sport opportunities, and a diversity of different friendly neighbourhoods to suit every pocket make living here interesting and comfortable. Public transportation takes you to work or to your special appointments.Great public and private schools, plus Colleges and Universities serve our children's and adult's educational needs.I've lived in Toronto all my life and have been serving my clients' needs in finding the best homes, whether condos or freehold residential dwellings. Trust my 26 years of real estate experience.
Call me and I will help you find the home of your dreams!
Patricia Katz, Broker
office/pager: 416-966-0300
24 hour voice mail: 416-208-4096
pkatz@trebnet.com
http://www.sutton.com/realtor/pkatz
http://mykensingtonmarket.blogspot.com
Call me and I will help you find the home of your dreams!
Patricia Katz, Broker
office/pager: 416-966-0300
24 hour voice mail: 416-208-4096
pkatz@trebnet.com
http://www.sutton.com/realtor/pkatz
http://mykensingtonmarket.blogspot.com
Blog Archive
Sutton Group-Associates Realty Inc., Brokerage
Patricia Katz, Broker
358 Davenport Rd., Toronto, ON M5R 1K6
Office/pager: 416-966-0300
Office fax: 416-966-0080
24 hour voice mail: 416-208-4096
pkatz@trebnet.com
http://www.sutton.com/realtor/pkatz
http://mykensingtonmarket.blogspot.com/
358 Davenport Rd., Toronto, ON M5R 1K6
Office/pager: 416-966-0300
Office fax: 416-966-0080
24 hour voice mail: 416-208-4096
pkatz@trebnet.com
http://www.sutton.com/realtor/pkatz
http://mykensingtonmarket.blogspot.com/
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