Your listing checklist


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Your listing checklist

  1. 1. Listing Checklist
  2. 2. <ul><li>There are some things the Courts always expect you to check when listing a property for sale </li></ul>
  3. 3. These include the physical features of the property and its legal and financial characteristics
  4. 4. Physical Features
  5. 5. Measure and confirm: <ul><li>Floor area and room sizes </li></ul><ul><li>Lot size </li></ul>Any recent construction, renovations or improvements <ul><li>Necessary building permits obtained? </li></ul><ul><li>Any builder’s liens made or threatened? </li></ul>
  6. 6. Legal and Financial Characteristics
  7. 7. General <ul><li>Surface search or State of Title Certificate ordered </li></ul><ul><li>Confirm location and size of property from Land Title Office or Municipal plans </li></ul>
  8. 8. Financial Encumbrances <ul><li>Are there mortgages , liens, judgments or other financial charges outstanding of the property? </li></ul>
  9. 9. Assumable Mortgages <ul><li>Check mortgages </li></ul><ul><li>Confirm with lender the outstanding balance </li></ul><ul><li>owing under the mortgage and if it can be </li></ul><ul><li>assumed by the buyer </li></ul>
  10. 10. Easements, Rights of Way, Restrictive Covenants <ul><li>Is there anything on title that could restrict a </li></ul><ul><li>buyer’s use of that property? </li></ul><ul><li>If so, get a copy of the registered charge </li></ul><ul><li>and read it </li></ul><ul><li>Recommend buyer obtain legal advice as to </li></ul><ul><li>terms of such liens </li></ul>
  11. 11. Strata Properties <ul><li>Review the By-Laws for restrictions </li></ul><ul><li>Get from the Strata Corporation official </li></ul><ul><li>whether there are: </li></ul><ul><ul><li>Any special assessments voted on or </li></ul></ul><ul><li>proposed </li></ul><ul><ul><li>Any pending rules or strata by-law </li></ul></ul><ul><li>amendments which may alter the uses of the property </li></ul>
  12. 12. Tenancies <ul><li>Get details of any tenancies from seller </li></ul><ul><li>Rental security deposit </li></ul>
  13. 13. Zoning <ul><li>Confirm current zoning status </li></ul><ul><li>Get a copy of most recent property tax assessment </li></ul>
  14. 14. Basic Practice For Measuring Living Area
  15. 15. Measurements are taken from the outside surface of the exterior walls for detached houses . Townhouses are measured from the centre line of the party walls and the outside surface of exterior walls.
  16. 16. <ul><li>Semi-detached and end units of townhouses are measured from the outside surface of exterior walls and the centre line of party walls </li></ul>
  17. 17. Prior to taking any measurements of the structure, first prepare a rough outline sketch or layout of the perimeter of the building. Indicating all dimensions of this sketch will serve as a check when comparing the front width dimension to the rear width and similarly, when comparing the two length dimensions.
  18. 18. <ul><li>Living area includes the square area of all utility rooms, storage areas and cupboards, located on the same level(s) as the main living area(s) </li></ul>
  19. 19. The following should not be considered or included as being part of the living area of residential buildings: <ul><li>porches </li></ul><ul><li>sundecks </li></ul><ul><li>closed-in patios </li></ul><ul><li>screened-in decks </li></ul><ul><li>garages </li></ul><ul><li>carports </li></ul><ul><li>cold rooms in basements </li></ul>
  20. 20. Remember Check with your local Real Estate Board and Real Estate Council for any Rules and Regulations that they may have.