Ultimate Guide To Selling A Condo in Ottawa During COVID-19
Things are certainly not normal in 2020 and with the threat of COVID-19 not going away anytime soon, it has really pushed us to adapt to a new normal. Since real estate agents were deemed essential in Ottawa, our main focus has been conducting business safely for our clients who need to sell or buy.
Selling a property is stressful enough, adding COVID into the mix really turns it up another level. Our team's main goal is to provide a smooth selling experience while keeping everyone as safe as possible.
Preparing To Sell During COVID-19
Decluttering and depersonalizing - Think about packing away as much as possible without what you need to live during that period. Closest, storage space, kitchen cupboards, bathroom, etc. We want to make every space look as large as possible. Keep in mind that this is the time to start ordering some boxes and packing supplies - but don’t do it last minute as the virus can live on cardboard for up to 24 hours. Doing this first will also make it easier as you move forward. Make sure to mark all of the boxes accurately on the outside so that if you need to find something it is easier - trust me, this takes time, but it is worth it! If you want to go the extra step of creating a master list of what is in each box so that you can easily find it instead of moving all of the boxes around.
Staging - If you are considering staging, remember that how a home is used has changed since COVID and it should be reflected in the staging. Home office work areas, child care spaces, etc. One of the main reasons why we always suggest working with a professional, again, the buyer’s needs have changed with COVID, how is that reflected in your space?
Renovations and repairs - Let’s cross off the to-do list of repairs! Typical lists include caulking around sinks, tubs, and/or showers, painting (especially trim and corners too), cleaning your patio or balcony (removing the grime and any cigarette butts thrown down). Is their grout missing between tiles? Don’t forget those hard to reach or specialty light bulbs (check the hood fan) that are out and need to be replaced.
Speak with your Mortgage Broker - If you are planning on buying at the same time, you should already have started a conversation with your mortgage broker. Buying or selling first? It all depends on the market that you are leaving and the market that you are looking at heading into. There are many different “sub-markets” in Ottawa!
Collecting all of your bills and documents - This is a perfect time to collect and put together all of your documents for your property. This includes; Utility and tax bills, any appliance manuals and warranties, mortgage documents, property survey, any receipts for renovations or maintenance (furnace cleaning/service, etc.), and the last AGM package and any notices from the condo board. If possible, 12-24 months (or more) of bills would be best. We want to paint a full picture of the love that you have given the condo or house while you have lived there. The more confidence you can provide a buyer, the better prepared they will be when putting together an offer.
Vacant? Go live in a hotel/cottage/etc.? Are you planning on living in the condo while you are selling? Is there a chance that you can move into a hotel for a week? Depending on where you are located and the pricing strategy of holding off offers until a certain date/time, you might benefit from living in a different space. Again, there are going to be endless numbers of people through your home, and the less exposure that you have, the better. This saves you from having to worry about cleaning and disinfecting when you arrive, etc.
Cleaning - Before hitting the market, it would be wise to do a deep cleaning. We want to ensure that the condo shows the very best that it can. Don’t forget bathroom vents - they always seem to be forgotten - AND - change the HVAC filter and clean the area with a vacuum.
Marketing Preparation - Once the home is ready to go, we get our team of marketing professionals to work. This includes stunning HDR photography, 3D tours, and videos, floorplans, etc. All of our copy (written property descriptions, headlines, and website wording) is created and refined. Everything that we do is focused on digital online marketing, which is more important than ever. Open houses (which are currently banned - at least for the time being) are soooo 2019! Note: Any of our hired professionals that enter your property are required to wear new masks, gloves, and booties while they are inside your property, along with declaring that they have not had any exposure or any symptoms. If not, they will not be allowed inside.
Offers and Paperwork - All of our paperwork and any offers that we receive will be able to be signed digitally using a secure platform that meets or exceeds stringent global security standards, and is even ISO 27001 certified (The highest level of global information security assurance available today).
Pre-Inspection - If your property is expecting multiple offers and is a strategy that we choose to do, then we might decide to do a pre-listing property inspection. Typically this helps any buyers feel more comfortable bringing an offer without the inspection condition.
Being On the Market
Safety precautions - Now that the condo is listed, buyers are going to want to view it in person. We have shifted to a new normal which includes a safe way to continue to show and view properties while keeping everyone safe. We always begin with as much “virtual” as possible. This includes virtual 360/3D tours, floorplans, and making sure that any interested buyer has seen these and spent time virtually looking around the property. Our main goal is to eliminate the nosey neighbours and uninterested/unqualified buyers.
Disclosure - While we ensure that every buyer and agent does not have any symptoms or been exposed to anyone with the virus, we also do the same for you - if you are staying at the property. We want to provide a safe environment for everyone - you, our team, and any possible buyer and buyers agent that visit the property. We have a quick online form that you fill out which takes less than 30 seconds every other day.
Showings - Before any in-person showing can take place we pre-screen each buyer and their agent to ensure that they haven’t been exposed or showing any symptoms of COVID-19. We ensure that each buyer has seen the online tours, is qualified, etc. We have limited the amount of time for any in-person showings down to 30min (vs the previous one hour that we used to allow), limited the number of buyers in at one time (often two adults, no kids, and one agent only), and no longer allow multiple groups in at the same time. We have anyone enter the property not touch anything, and ask that everyone sanitize their hands before entering the property and wear a mask while inside the property.
Showing Notices - Anytime a showing is requested on the property, a notification will be sent directly to you from our online showing program. This program allows you to receive an email, or txt anytime there is a requested appointment and gives you the chance to accept or decline the showing. If the property is vacant, we will typically set the notification to only notify you, not approve showings since the property is vacant.
Tenants - If you have a tenant in your Ottawa property, it is not possible to guarantee vacant possession, let alone even force tenants to allow showings. The LTB office is closed and landlords are not allowed to evict tenants. If the property is to be owner-occupied, we will have to decide on the best selling strategy, which might include waiting.
Feature Sheets - Now with COVID, we have stopped printing physical feature sheets to be left at the properties and have converted them to a digital flyer that the showing agent is able to send to their client or print if they choose. One less thing to be touched inside the home, and one less thing to spread the virus. Now that these are digital, we are able to put much more information on one than we could before.
Offers and Closing Period
New Clauses and Conditions - COVID-19 has added a lot of uncertainty to the process and you are almost guaranteed to see some COVID related clauses in any offer. While now, some of these are not required as they might have been in early March, we don’t know what might happen and we want to make sure that you are protected. We are also seeing buyers asking for things like cleaning and sanitizing, etc.
CERB and Impact To Buyers - With many workers losing their jobs or going on CERB, it has started affecting how banks/lenders will provide a mortgage to them. There are many stories about buyers having a mortgage denied the day before closing because the lender found out the buyer was laid off and is on CERB. Our job is to understand the process and risks and ask extra questions to ensure a smooth selling experience.
Meeting With Lawyer - Many or almost all lawyers now are doing virtual meetings and digital signatures. While things might be changing as we move forward, you have the ability to safely meet with your lawyer. All of our choice lawyers are meeting virtually and using digital signatures.
Getting / Releasing Keys - Since COVID started most of our offers now require the keys to be left at the property in a secure lockbox. Lawyers have preferred this option to lessen the amount of people touching keys and simplifying the process.
Moving
Boxes and Supplies - Make sure that you order any moving boxes and supplies earlier. Plan ahead so that you can limit the number of trips that you take to the store. Remember that COVID can live on cardboard for up to 24 hours, so don’t use boxes from friends or big box stores. Every business is impacted and making sure you have what you need will help simplify the process.
Picking Movers - Hiring movers? Spend extra time doing your homework on picking the best moving company to fit your needs. Ask what safety precautions they take (gloves, masks, booties, etc.), and if they have any tips to help the process.
Smart Packing - When packing boxes, try to create an easy space near the entrance, to store items, so that movers spend less time walking throughout the condo.
Cleaning - Are you doing a post-move cleaning as part of the offer? Ask if you can get a deal if they clean your new space too. Again, ask what measure the cleaner takes (mask, gloves, booties, etc.) while inside the property.
Thinking of selling, or would like to learn more about your options? Let’s chat. Fill out the form below.
