The ever changing market in Mississauga Real Estate, Toronto Real Estate has led to the realization that you will need the services of an experienced real estate agent if you want or need to sell your Mississauga Condominium, Toronto Condominium or your Oakville Ontario Condominium.
Ugly and Costly
A recent condominium sale in the Greater Toronto Area turned ugly and costly for the seller on closing day.
This condominium was sold with a parking spot that was stipulated in the Agreement of Purchase and Sale as owned by the seller. As it turned out the parking spot was in fact not owned by the seller. The seller did have exclusive use of the parking spot but did not own it and therefore could not sell it with the unit. Some sellers are unaware that they do not own their parking spot, they just know that they have been parking in the same spot since they moved into their new condominium.
What Happened on Closing Day
On the closing day the buyers' lawyer demanded and successfully secured a reduction in the purchase price because the seller did not own the parking spot and therefore could not sell it with the unit or deliver title to it.
Inexperienced Agent
The agent handling this sale assumed the parking spot was owned because the seller told him so. He is obligated to verify this with the Condominium Corporation but failed to do so. This agent advertises 15 years experience. He has in fact had his real estate license for 15 years but warehoused it for over 10 years while he was involved in some other unrelated occupation.
Changes take place over time and his long absence meant simply, he did not have enough experience to handle this condominium sale.
So the next time you interview an agent for the job of selling your Mississauga Condo, Toronto Condo or Oakville Ontario Condo ask them how long they have been licensed and if they have been continuously selling real estate full time for the time they claim.
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